Investment to focus is on operations, acquisitions and R&D.
September 14, 2015
by PLANT STAFF
MONTREAL — Novacap has taken a major stake in Nitrex Metal Inc., a provider of metal heat treatment technology and services.
The private equity firm based Longueuil, Que. did not release financial details.
Novacap says Nitrex, based in Montreal and employing more than 300 people, has grown over 30 years into a global business providing modern nitriding technologies, equipment and services to customers in the automotive, aerospace and industrial sectors.
The investment will focus on operational enhancements, investments in regions with high potential for strategic acquisitions, and R&D.
Nitrex generates approximately $60 million annually and is adding to its global market presence with further market penetration in Mexico, China, Japan and the US through significant capital investments in these regions.