Alantra advises Bemsiq on the acquisition of Greystone Energy Systems Inc.

Sep 2021

Buy-side advisory

Boston and Stockholm – Alantra, a leading global investment bank and asset management firm, is pleased to announce it has advised Bemsiq AB, a leading European manufacturer of building automation field devices and a wholly-owned subsidiary of Investment AB Latour (“Latour”), on the acquisition of Greystone Energy Systems, Inc. (“GES”). The transaction closed on September 29, 2021 and the deal terms were not disclosed.

Located in Moncton, Canada, GES is a designer, manufacturer, and supplier of HVAC sensors and transmitters for the building automation industry. The company has over 120 employees globally, with sales offices in Canada, the U.S., Dubai, India, Singapore, and Malaysia. GES was of strong strategic interest to Bemsiq due to its current geographic footprint and strong reputation in the North American market. With the acquisition of GES, Bemsiq now comprises seven group companies with activities in the Nordics, Europe, the Middle East, and North America.

Chris Donegan, Managing Director at Alantra US, said, “We are thrilled to assist Bemsiq and Latour with this acquisition. We firmly believe that the strategic fit between the organizations is very strong and are pleased that Bemsiq was able to secure such a unique opportunity to further its international growth journey.”

“Moreover, the acquisition of GES is an important component of Bemsiq’s strategy to grow in North America,” said Wade Aust, Managing Director & Partner with Alantra. “This type of cross-border/transatlantic transaction is core to Alantra’s global investment banking practice.”

Latour is an investment company quoted on the Nasdaq Stockholm AB since 1985. Latour’s main business concept is to make long-term investments in companies with proprietary products and brands, a great development potential supported by global megatrends and with good prospects for internationalization.

This is the second transaction Alantra has completed involving Latour in the last two years. Alantra also acted as exclusive financial advisor to Rite-Hite on the sale of Caljan, a leading supplier of automation technology for parcel handling in the logistics and e-commerce sectors, to Latour.

The acquisition process was a mandate co-led by Alantra’s Industrials team members in the U.S. and Sweden. The Alantra team advising on this transaction included Mr. Donegan, Jonas Bauréus (Managing Partner), Mr. Aust (Managing Director & Partner), Anton Terziev (Associate), and Matt Gage (Analyst).