Emptech North has been acquired by Proax Technologies
Emptech North Inc.
has been acquired by
Corporate Finance Associates acted as exclusive advisor to Proax Technologies
Situation: Proax Technologies is Ontario’s leading industrial automation components distributor, based in Oakville, Ontario. In spring 2012, Proax’s management team’s strategic plan was to grow in the mining and natural resources market. They decided that the right acquisition was better than a green field approach.
Solution: CFA Toronto West was hired in early-summer 2012 and contacted the owner of Sudbury, Ontario-based Emptech North Inc. Emptech is the leading distributor of ABB drives in Northern Ontario, with a product line that’s a perfect fit with Proax’s growth plans. CFA worked with Proax to develop a proposal to acquire Emptech, and structured a transaction appropriate for Emptech. The sale of Emptech North Inc. to Proax Technologies was completed October 31, 2012. This marks the 6th acquisition that CFA Toronto West has completed with Proax Technologies.