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Denver-based PE firm acquires Siemens’ motor repair business

Denver-based Lion Equity Partners has acquired the Canadian motor repair business of Siemens Canada, formerly known as Siemens Industrial Sales and Service Centre.

After the acquisition, Lion Equity has renamed the business NorthPoint Technical Services ULC. The business will remain to be Siemens’ approved partner for motor and gearbox repair and distribution out of its eight facilities across Canada.

Lion Equity partner Ari Silverman said NorthPoint has a strong legacy of quality, customer service and technical capability.

“We believe the company’s national footprint is a key differentiator and provides a strong foundation for future growth, both organically and through prospective strategic add-on acquisitions,” Silverman said.

For Lion Equity operating partner Tom Carney, NorthPoint has the management team to execute the firm’s long-term growth strategy.

“NorthPoint has great people, an expansive footprint and the technical know-how to be extremely successful going forward,” he said.

Calgary based NorthPoint is an industry leader in the repair of rotating industrial equipment, including motors, generators, gearboxes, switchgear, transformers, pumps, fans and turbines. NorthPoint serves customers in oil & gas, power generation, mining, pulp & paper, infrastructure, marine and transportation industries by solving their most complex equipment repair needs.

The firm has eight full-service, electro-mechanical repair facilities located across Canada, including locations in Calgary, Regina, Winnipeg, and several areas in Ontario.

This article has been edited. It first appeared on Private Capital Journal, a site managed by CPE Media Inc, the official data provider for PCMA. Read the rest of the article here.

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