CIMS Closes Acquisition of Chemfab
DECEMBER 31, 2016 – CIMS LP (“CIMS”), a portfolio company of Yellow Point Equity Partners III LP (“Yellow Point”), has completed the acquisition of Chemfab Industries Inc. (“Chemfab”), a leading industrial contractor based in Sarnia, Ontario. Chemfab provides unionized trades to oil refineries, chemical processing plants, and other industrial facilities in Southern Ontario.
Founded in 1980, Chemfab has a deep understanding of the industrial market in Southern Ontario. Drawing on its knowledge of customers’ facilities, long-term relationships with local trade unions and modular fabrication capabilities, Chemfab has built a reputation for providing customers with safe, on-time and on-budget construction and turnaround projects.
Brian Begert, Managing Partner of Yellow Point said, “CIMS has established itself as a preferred provider of industrial construction and maintenance services in western Canada. The addition of Chemfab complements CIMS’ dedication to safety and quality, and provides CIMS’ customers with a national solution for completing projects efficiently with minimal facility downtime.”
CIMS provides heavy duty mechanical maintenance and construction for the oil and gas, mining, power generation, agriculture, and pulp and paper sectors. The company operates across western Canada and Ontario and focuses on installing, maintaining and repairing boilers, reactors, precipitators and other pressure vessels. CIMS has become the leader in its industry due to its track record of successfully completing large plant shutdowns and complex industrial projects on time and budget, as well as its focus on quality and safety.
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Yellow Point Equity Partners has been actively helping its management partners build better businesses for over 12 years. The firm invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.
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