MONTREAL — Walter Capital Partners, a Montreal-based private equity group, has become a major shareholder in Martins Industries Inc., as the company embarks on what it calls an "acquisition-based growth strategy."
Martin Dépelteau, president of Martins Industries, said Walter Capital will help "fast-track" the company's growth strategy, mainly in the U.S. and Europe.
"As many companies are facing succession issues these days, we'll be in a great position to explore and capitalize on acquisition opportunities," Dépelteau said.
Martins Industries, a global provider of tire and wheel equipment, was founded in 2002. It distributes products to the U.S., Canada, the United Kingdom, Australia, the Middle East and Europe.
"We were impressed by the management team's energy, ambition and motivation," Eric Doyon, managing partner at Walter Capital Partners, said. "All members of the executive committee are shareholders who are just as eager as we are to keep Martins moving forward."
Financial terms were not disclosed.
Doyon said Martins' global distribution network and its record of successfully integrating other acquisitions, "combined with our arrival as a strategic partner, everything is in place for Martins Industries to broaden its product range and continue its international expansion."
Among Martins Industries' acquisitions are M&R Tire Products/Magnum+ in 2019 and England's Checkpoint Safety in 2022.
Martins said it is "an excellent platform for acquisitions and offers opportunities to key people in such acquisitions to keep growing," citing the Checkpoint acquisition in which a senior manager became a shareholder and a member of Martins' executive committee.
