Phoenix Partners celebrates its 10th anniversary
Montreal, QC, May 11, 2022 – It was in May 2012, that my friend Mathieu Cardinal and I acquired RefPlus Inc., the leader in custom refrigeration equipment.
Owned by Dectron Inc., RefPlus was already a major manufacturer of refrigeration equipment, but was somewhat left to its own devices within the Dectron Group. Mathieu and I had seen huge potential across North America. Indeed, over the last 10 years, and with Mathieu as president, RefPlus will have more than tripled its sales.
This first acquisition under the Phoenix Partners banner allowed Phoenix to take off. After a series of acquisitions between 2012 and 2016, it was in March 2017 that my partner David Le Houx and I raised our first committed capital fund, Phoenix Partners Fund I LP. This fund will have completed 5 acquisitions in 4 years. The first acquisition of Fund I, Les Industries Bernard & Fils Ltée. (“Bernard”) was recently sold to a company owned by Bain Capital Private Equity. Phoenix Partners Fund II LP was launched in October 2021 with committed capital of over $100 million. Prior to the sale of Bernard, Funds I and II had more than $250 million in assets under management.
Today, Phoenix is very well established in the buy-out market for medium-sized companies in Quebec. Our team is now made up of 6 high quality professionals who work hard while having fun as a team. I am very optimistic about the future of Phoenix and particularly proud of what we have accomplished to date.
About Phoenix Partners
Established in 2012, Phoenix Partners is a private equity group focused on acquiring controlling interests in traditional and mid-market businesses. Relying on an experienced and complementary team of professionals with extensive experience in the acquisition and management of private and public businesses, financing and capital markets, Phoenix Partners allows its partner companies to reach new heights.