TORONTO and DARTMOUTH, Nova Scotia — TorQuest Partners has partnered with management and other co-investors to acquire a majority interest in Envirosystems Inc. from Thornridge Holdings Limited, a privately held investment firm.
Headquartered in Dartmouth, Nova Scotia, Envirosystems is one of the fastest growing industrial services organizations in North America, with over 1,000 employees in more than 40 locations throughout Canada and the U.S.
Eric Berke, managing partner at TorQuest said, “We are thrilled to partner with Mike Ryan, president and CEO of Envirosystems, and his highly experienced management team, and to support them in the next chapter of Envirosystems’ growth.”
Mike Ryan said, "We are excited to be moving forward with TorQuest to augment the continued commitment Thornridge Holdings has provided to Envirosystems. Thornridge gave me and my team the opportunity to participate as equity partners and now TorQuest will bring financial resources and business expertise and a commitment to supporting our continued profitable growth, both organically and through acquisitions. They share our vision of becoming the North American leader in safety, quality and performance by investing in our people and ensuring innovative customer service.”
David Hennigar, chairman of Thornridge Holdings Limited, said "Our family has been invested in Envirosystems since it started almost 20 years ago. We share Mike's enthusiasm about the tremendous benefits TorQuest adds to this already successful business, and we welcome a number of senior managers of the business as our shareholder partners."
For more information, contact Hugh Black at (416) 898-4871 or hughblack@cogeco.ca.
