Lion Equity carves out Siemens' Canadian motor repair unit
U.S. private equity firm Lion Equity Partners has acquired the Canadian motor repair business of Siemens Canada Ltd. No financial terms were released for the carve-out deal, which was closed last month by Lion Equity's affiliate, the newly formed NorthPoint Technical Services ULC. NorthPoint provides new motor sales, engineering services and repair services for a range of equipment used in the oil and gas, power generation, mining, pulp and paper, infrastructure, marine and transportation industries. It has eight facilities, including at its Calgary headquarters. Lion Equity Operating Partner Tom Carney said his firm will support NorthPoint's long-term growth strategy.
5 April 2018•3 mins read
