Industrial Growth Partners completes recapitalization of the Redco Group

On December 17, 2018, Industrial Growth Partners (“IGP”), completed the recapitalization of the Redco Group of companies (“Redco”) in partnership with Redco’s management. The financial terms of the transaction were undisclosed.

Headquartered in Edmonton, Redco is the leading independent player within the Canadian pressure control equipment market. The company provides a full suite of wellhead, frac completion products, and related services. Redco designs its products internally and maintains world class manufacturing capabilities.

Industrial Growth Partners, founded in 1997, is a San Francisco-based specialist private investment partnership with $2.2 billion of equity capital raised since inception. The firm invests exclusively in middle-market companies in the industrial sector in partnership with management teams.

IGP was represented by Stikeman Elliott LLP, with a team that included John Leopold, Kim Le, Marc William Carrothers, Luke Sinclair and Chelsea Pellegrino (Corporate), Frank Mathieu and Adam Drori (Tax), Howard Rosenoff and Léa Bénitah-Bouchard (Banking), Michael Laskey (Investment Canada Act & Competition), Catherine Grygar and Meaghan Simister (Real Estate), Kris Noonan and Alain Saint-Onge (Employment), Allyson Marta (Pensions & Benefits), Larry Cobb (Environment), and Jonathan Auerbach (Intellectual Property).

Redco was represented by Duncan Craig LLP, with a team that included Percy Odynak, QC (Banking), Ross Swanson, Jeff Fixsen and Mark Baergen (Corporate).