AMETEK Acquires Creaform, a Novacap Portfolio Company
The Quebec based company joins a US based leading global manufacturer
MONTREAL, QUEBEC -- (Marketwired) -- 10/30/13 -- NOVACAP Technologies
III L.P. ("Novacap") is pleased to announce that Novacap and
Desjardins Venture Capital Inc. (collectively the "Private Equity
Shareholders") have completed the sale of Creaform Inc., to AMETEK,
Inc. a leading global manufacturer of electronic instruments and
electro-mechanical devices for approximately $120 million US.
Novacap and Desjardins Venture Capital made their original investment
in Creaform in 2009. Based in Levis, near Quebec City, Creaform grew
substantially through organic growth and tuck-in acquisitions to
become a leading developer, manufacturer and distributor of
innovative portable 3D measurement technologies, and provider of 3D
Creaform operates innovation centers in Levis, and Grenoble, France,
and has direct sales operations in the United States, France,
Germany, China, Japan and India. It joins AMETEK as part of its
Electronic Instruments Group (EIG) -- a recognized leader in advanced
monitoring, testing, calibrating, and display instruments.
"This transaction marks an important milestone in Creaform's growth.
We are excited to join the AMETEK team. I would like to thank Novacap
and Desjardins for their partnership and support as they helped us
grow our business to become the world-class company it is today,"
declared Martin Lamontagne, Creaform's co-founder, President and CEO.
"Martin and the entire Creaform team have built a strong and
competitive business. Our experience with Creaform demonstrates how
Novacap can partner with a company and provide support to help a
company grow into a global leader. We are very proud of what was
accomplished with the team and are looking forward to hearing more
about their successes," added Pascal Tremblay, President and managing
partner of NOVACAP Technologies.
GMP Securities L.P. acted as exclusive financial advisor of the
sellers and McMillan LLP acted as legal counsel to the sellers.
Novacap is one of Canada's leading private equity firms. Since 1981,
its distinct partnership approach based on operational expertise has
helped companies accelerate their growth and maximize their va
Novacap ranks among the top private equity firms in North America.
For more information, please consult: www.novacap.ca.
Creaform develops, manufactures and sells 3D portable measurement
technologies and specializes in 3D engineering services. The company
offers innovative solutions such as 3D scanning, reverse engineering,
quality control, non-destructive testing, product development and
numerical simulation (FEA/CFD). Its products and services are
intended for industries such as the automotive, aerospace, consumer
products, heavy industries, health care, manufacturing, oil & gas,
power generation and research & education.
Creaform has developed and sells the Handyscan 3D portable,
self-positioning 3D scanners, the HandyPROBE optical portable CMM,
the MetraSCAN 3D optical CMM scanners and MetraSCAN-R robot-mounted
version, and the Go!SCAN 3D white light scanner. The company also
offers an intuitive photogrammetry device: the MaxSHOT 3D optical
coordinate measuring system.
The company employs more than 325 people worldwide, and has offices
in Levis, Montreal, the United States, France, Germany, China, India
and Japan. The company's head office and Quebec-based offices are
9001 : 2008 ISO certified.
AMETEK is a leading global manufacturer of electronic instruments and
electro-mechanical devices with annualized sales of $3.6 billion.
AMETEK's Corporate Growth Plan is based on Four Key Strategies:
Operational Excellence, Strategic Acquisitions & Alliances, Global &
Market Expansion, and New Products. AMETEK's objective is
double-digit percentage growth in earnings per share over the
business cycle and a superior return on total capital. The common
stock of AMETEK is a component of the S&P 500 Index.
Pascal Tremblay, MBA
President and Managing Partner
Cohn & Wolfe Montreal
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