Ficodis acquires Varco with backing of Fondaction CSN, RBC

Ficodis Group has bought Varco Industrial Sales Ltd, a London, Ontario-based specialist in cutting tools and AutoCrib vending machines. No financial terms were disclosed. The acquisition, Ficodis' fourth this year, was funded by Québec private equity and venture capital firm Fondaction CSN and the Royal Bank of Canada (RBC). Fondaction CSN reported an investment of $5.3 million. Ficodis, a Montréal-based distributor of specialized industrial products, said the deal accelerates its growth and increases the company's presence in the Ontario market.

DealsCanadaNorth AmericaBriefs