Gentherm buys Argosy Partners-backed Etratech for $82 mln
Gentherm (Nasdaq-GS: THRM) has acquired Etratech Enterprises Inc, a Burlington, Ontario-based designer, developer and maker of advanced electronic controls and control systems for the automotive, recreational vehicle and marine, security, medical and other industries. Gentherm, a U.S. thermal management technologies company, paid about $82 million (US$64 million) in cash for the company to diversify its product portfolio and capabilities. The deal provides an exit to the Shotgun Fund of Canadian private equity firm Argosy Partners, which invested in 2000. Etratech was founded in 1989 by President and CEO Michael Desnoyers.
2 November 2017•3 mins read
