Alantra advised Branford Castle on the Sale of Canada Metal (Pacific) Ltd

Dec 2018

Sell-side advisory

Alantra is pleased to announce that its client Branford Castle, Inc. (“Branford Castle”), a New York-based investor and affiliate of private equity manager Branford Castle Partners, LP, has sold its portfolio company Canada Metal (Pacific) Limited (“CMP” or the “Company”) to Ironbridge Equity Partners (“Ironbridge”), a private equity fund based in Toronto, Canada. The transaction closed on October 12th, 2018. The financial terms of the deal were not disclosed. Alantra acted as the exclusive financial advisor to Branford Castle and CMP on this transaction.

CMP (headquartered in Vancouver, Canada) is a leading manufacturer and distributor of branded products serving the recreational marine, commercial marine and industrial markets. Founded in the early 1900s, the Company has leading global share (both OEM and aftermarket) in the market for cathodic protection anodes used to prevent corrosion on critical underwater components of pleasure-craft and commercial vessels. The Company also manufactures and distributes a range of complementary marine products which includes recreational dock products, anchors, chains, marine helm control devices, and stamped parts. CMP operates a total of six facilities in Canada, the United States, China, Australia and Italy, leveraging this network to drive low-cost manufacturing and efficient access to customers in major markets around the world.

Ironbridge invests in Canadian middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The investment in CMP was made through the firm’s most recent fund: Ironbridge Equity Partners III. As part of the transaction, the CMP management team partnered with Ironbridge and retains an equity stake in the business.

Alantra’s Boston-based deal team included Mr. Wade Aust (Managing Partner), Greg Fanikos (Director) and Andre Silva (Analyst). “We were very pleased to complete this complex transaction for Branford Castle,” said Wade Aust. “CMP is a clear market leader in the marine sector, and we believe that we found the management team an ideal partner in Ironbridge to support the continued growth of the Company through organic expansion and acquisitions.”

“The sale of CMP was a complicated process that included extensive diligence in six countries on four continents,” added Greg Fanikos. “We are extremely grateful for the efforts of the management team at CMP and professionals at Branford Castle for all of their hard work and support of this transaction.”