November 1, 2012 (Oakville, ON) – Douglas Nix, Vice Chairman of Corporate Finance Associates, is pleased to announce CFA Toronto’s 5th completed transaction of 2012 and CFA’s 36th mid-market North American transaction of the year.
Yesterday, Proax Technologies, Ontario’s leading industrial automation components distributor, based in Oakville, Ontario, announced it has acquired Emptech North Inc., a leading distributor of ABB drives in Northern Ontario. Proax Technologies was represented by CFA Toronto West, marking the 6th acquisition that CFA Toronto West has completed with Proax. Terms of the transaction were not disclosed.
Emptech North Inc. was established in Sudbury, Ontario in 1995 as an Authorized Distributor of ABB Drives, Motors and Control Products. Their business has been focused on the mining, steel and pulp & paper industry in Northern Ontario. Emptech brings new skills and clients to Proax and the fit is a natural one.
Proax’s acquisition of Emptech will strengthen their presence and continue Proax’s growth in the Ontario market. It will also bring them new expertise and knowledge specifically in the mining area and continue to strengthen their relationships with major vendors.
The owner of Emptech, Ed Patton, will join Proax’s team to help provide a smooth transition for customers and bring his many years of experience to the Proax team.
About Corporate Finance Associates
Corporate Finance Associates is one of the top ten investment banks in North America. To date in 2012, CFA has completed 36 mid-market M&A transactions. Founded in 1956, it has 20 offices in North America and 14 affiliates in Europe, Asia and South America. Since it’s founding, CFA has completed more than 5,000 transactions.
For more information contact:
Douglas Nix, CA | Vice Chairman CFA
905 845 4340 ext. 211