Canadian Industrial Pumps Ltd. has been acquired by 302 Capital Partners
Relay Transition Partners is pleased to announce that Canadian Industrial Pumps Ltd. (“CIP” or the “Company”) has been acquired by 302 Capital Partners (“302”), who partnered with Company management to complete the transaction.
CIP is a leading distributor of submersible and above-ground pumps with applications ranging from small construction pumps to those used in large mining operations. The Company also provides repair and pump services for the pump brands it distributes as well as many other manufacturers’ products. CIP differentiates itself from other industry players through the breadth and quality of the pump manufacturers it represents, deep technical expertise, and its unwavering commitment to top tier customer service.
“302 Capital Partners is a terrific fit for CIP and their involvement will allow us to even better serve our customers and suppliers” commented Kjell Stroman, Founder of CIP. He added “Working with Relay Transition Partners has been an extremely positive experience. They are professional and true partners working side by side. Selling a business is complex and takes a lot of time. The Relay team ran a process that was very organized and smooth…and the outcome exceeded my expectations. Having the best team selling your business is important and Relay is a 100% partner."
Troy Minogue, Partner with 302 Capital Partners added, “We're extremely excited to partner with Kjell, Bjorn, and the entire CIP team to build upon the Company's remarkable 23+ years of successful operations, acting as a key partner for both customers and OEMs”.
Relay Transition Partners acted as financial advisor to CIP.
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Established in 2000, CIP is a distributor of several brand name industrial pump manufacturers including: BJM, Dan Pumps, Franklin Electric, Landustrie, Pioneer and Sulzer. The business is diversified in the industries it serves which include mining, infrastructure, oil and gas, pulp & paper, industrial and farming.
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302 Capital Partners is a entrepreneurial investment firm established by two dedicated entrepreneurs to acquire, operate, and accelerate growth on a long-term basis. The founders, Troy Minogue and Mitch Allen, are supported by a number of talented entrepreneurs and world-class investors with deep experience investing in, growing, and operating successful companies.