FirePower Capital Advises Novaflow Systems Inc. on its sale to COROB S.p.A.
FirePower Capital (“FirePower”), Canada’s entrepreneurial mid-market investment bank and investor, is pleased to announce it recently advised Novaflow Systems Inc. (“NovaFlow”), an Ontario-based manufacturer of automated dispensing and batching systems, on its sale to COROB S.p.A. (“COROB”), an Italian manufacturer of advanced tinting equipment for the global paints and coatings industries.
The acquisition, which closed on August 1, 2017 will strengthen the competitive position of each of the two companies. Novaflow brings valuable assets to the combined company’s in-plant offering, with its long heritage in factory and batch production capabilities. It will broaden COROB’s technology offering to better meet its customers’ needs. Novaflow will benefit from COROB’s strong presence around the globe.
Novaflow engaged FirePower to assist the company through a sale; after years of record growth, Ewan Scott, President of Novaflow, felt it was the right time to contemplate an exit. “The FirePower team cast their net well beyond North America to find the right strategic buyer for Novaflow. I didn’t think their process-driven approach and deep network could be available to companies such as ours in the lower mid-market.”
“We are thrilled to have found such a strategic match between Novaflow and COROB,” said Ilan Jacobson, Founding Partner and CEO of FirePower. “This transaction proves that our team will go above and beyond to connect our clients with strategic buyers globally.”
About NovaFlow Founded in the early 1990s, NovaFlow designs and manufactures automated dispensing and batching systems. The company has an extensive product line to serve all gravimetric fluid and paste dispensing and blending operations. Markets served include: paint, printing ink, packaging, coating, dye, oil, adhesive, fragrances, silicone and chemicals. www.novaflow.com
About COROB Headquartered in Italy, COROB is one of the world’s leading supplier of advanced tinting equipment for the global paints and coatings industry. It offers a complete range of point-of-sales equipment from entry-level to high-performance dispensers and supplies complete in-plant tinting systems and advanced self-service vending solutions. www.corob.com
About FirePower Capital: FirePower Capital is the investment banking and private capital firm built for Canada’s entrepreneurs. The firm helps mid-market businesses complete mission-critical transactions. www.firepowercapital.com
Rhyno Equity Group
Rhyno is a private equity firm that acquires mid-market manufacturing companies in the GTA. Rhyno's partners engaged FirePower to structure the buy-out of a kitchen cabinet maker.
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