TorQuest sells Array Marketing to Carlyle, earns 61 pct IRR
Canadian private equity firm TorQuest Partners has sold its majority interest in Array Marketing, a Toronto-based provider of visual merchandising solutions to cosmetic brands, to The Carlyle Group. No financial terms were released; however, TorQuest told PE Hub Canada that it earned more than five times its investment from the sale, as well as a 61 percent internal rate of return. TorQuest acquired Array in June 2012 and supported investments that helped to improve operations, expand international capabilities, and enhance service to clients. The company's sale represents TorQuest's third liquidity event this year. In May the firm sold Kissner Milling Co Ltd, and in September it agreed to sell Pinova Holdings Inc.
7 December 2015•2 mins read
