The private equity investment arm of the Ontario Municipal Employees Retirement System has entered into an agreement with private equity company Ardian to acquire a majority stake in Trescal.

Trescal provides metrology services in 22 countries across North and South America, Europe and Asia. Its services include the calibration and maintenance of test and measurement equipment.

The company provides the services to a wide range of sectors, including the defence, aerospace, telecommunications, automotive and transportation industries. It also provides consultation services in acquiring and implementing test and measurement systems.

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OMERS says it plans to support the company’s continued growth through further acquisitions in what the release noted is a large but fragmented sector.

“We have followed Trescal since 2014 and have been impressed by the quality and track record of Trescal’s management team lead by Olivier Delrieu,” said Jonathan Mussellwhite, co‐head of OMERS’ private equity arm in Europe, in a release. “This is our third consecutive bilateral off-market transaction and OMERS Private Equity’s first investment in France; a significant and important market for us as we continue to expand our global investment footprint.”

“With Ardian’s support, Trescal has expanded its footprint to new continents (South and North America and Asia) and completed 25 acquisitions worldwide reinforcing its global customer service offering,” said Olivier Delrieu, chief executive officer of Trescal, in a release.

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Copyright © 2017 Transcontinental Media G.P. Originally published on benefitscanada.com

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