Kilmer Capital Fund and Borealis Capital have acquired Canada’s Vansco Electronics in a management buyout.
The company, which makes electronic components for heavy equipment used in the agriculture, construction, bus and recreational vehicle markets, had C$110 million ($84.5 million; €70 million) in revenue last year.
Senior management of Vansco participated in the deal.
Kilmer Capital is a private equity firm owned by Toronto businessman Larry Tanenbaum, who owns area sports teams along with Kilmer Van Nostrand Company. Borealis Capital manages a C$375 million private equity fund. It is owned by the Ontario Municipal Employees’ Retirement System.