TorQuest Partners Announces Investment in Brimich Logistics

News provided by

Sep 06, 2023, 10:00 ET

Investment Will Support the Company's Growth in Southern Ontario

TORONTO, Sept. 6, 2023 /PRNewswire/ - TorQuest Partners, one of Canada's leading private equity firms, today announced that it has completed an investment in Brimich Logistics, a full-service, family owned, and operated supply chain management and third-party logistics (3PL) business based in Brantford, Ontario. TorQuest is partnering with Brimich's existing owners, the Fergus family, who will remain significant shareholders in the Company. Terms of the transaction were not disclosed.

For more than twenty-five years, Brimich has provided a one-stop shop for customers seeking integrated transportation, logistics and warehousing solutions. The Company offers ambient, refrigerated, and frozen storage services across five locations, and has a workforce of over 400 employees.

With TorQuest's involvement, Brimich will continue to expand its capacity in Southern Ontario in the coming years. There will be no changes to the Company's leadership team or day-to-day operations as a result of the transaction.

Jonathan Fraser, Partner at TorQuest, said: "Since founding Brimich in 1997, the Fergus family has built an incredibly successful business grounded in a focus on what customers care about – food safety capabilities and responsive service. TorQuest looks forward to working alongside existing management to continue expanding Brimich's capacity and capabilities as a top-tier provider of supply chain management services to customers across Southern Ontario."

"We are delighted about the opportunities this partnership with TorQuest will bring, while also remaining true to the values that have made us so successful," said Pat Fergus, President of Brimich. "We look forward to continued success as we take advantage of our entrepreneurial culture to expand our business and deliver more services to more customers in more markets."

Stikeman Elliott LLP served as legal advisor to TorQuest. RBC Capital Markets acted as exclusive financial advisor and Gowling WLG (Canada) LLP served as legal advisor to Brimich.

About Brimich Logistics

Based in Brantford, Ontario, Brimich Logistics prides itself on providing a one-stop shop for customers seeking a cost effective, full-service supply chain management capabilities. Brimich Logistics operates over one million square feet of warehousing space, with a primarily food-grade customer base, and has invested in food grade certifications, modern supply chain technology systems, and value-added services. For more information about Brimich please visit www.thebrimichgroup.com.

About TorQuest Partners

Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$5.0 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.4 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit www.torquest.com.

SOURCE TorQuest Partners