Ironbridge to exit Demers Ambulances with Clearspring's buy
Canadian private equity firm Ironbridge Equity Partners has agreed to sell Demers Ambulances, a maker of ambulances, to an investor group led by Clearspring Capital Partners. The financial terms of the previously announced transaction were not disclosed. Ironbridge initially invested in Beloeil, Québec-based Demers in 2012. The investor worked with Demers' management to expand the company's distribution in the United States, open a U.S. manufacturing facility, improve internal systems, and reduce working capital needs. Earlier in 2016, Toronto's Ironbridge closed its third mid-market fund, Ironbridge Equity Partners III, at $238 million.
23 November 2016•3 mins read
