DECEMBER 14, 2021 — TORONTO (BUSINESS WIRE)—VRE Systems Inc. (“VRE”) today announced that it was acquired by private equity firm FirePower Private Equity. The financial terms of the transaction were not disclosed.
Founded in 1978, VRE is a provider of products and services in the horticulture, agriculture, and retail industries. VRE’s suite of products ranges from retail merchandising products, greenhouse curtain systems and conveyance equipment. They also have a growing division that provides add-on services such as installation, repair and maintenance. VRE’s strong reputation has garnered a customer base that includes major companies in the industry. As a specialist and innovative provider that can service customers from design and fabrication through to the realisation of products in a rapidly evolving industry, VRE is poised for rapid growth.
“We are excited to have access to FirePower’s depth of expertise to steer the company through its next growth phase,” says John Staios, CEO of VRE. “Their desire to build and support us was evident from our first meeting, and we’re truly excited to capture and deliver on the opportunity in front of us and to become an even bigger part of our customers’ successes moving forward.”
FirePower Private Equity is a Toronto-based private equity firm focused on unlocking value and driving growth for businesses in the mid-market space by applying the team’s collective skillsets. It is a division of FirePower Capital.
Anthony Lipschitz, Partner at FirePower, said, “VRE is one of those companies we love to work with – they have a strong management team in a niche sector that is committed to building on the great base of operations already in place. We look forward to partnering with, and supporting, John Staios and the broader VRE team as they capitalize on the Company’s significant growth opportunities and build the premier platform in the horticulture, agriculture and retail sectors they serve.”
VRE will continue to operate in its location in Grassie, ON, with Anthony Lipschitz serving as VRE’s Chairman.
About FirePower Capital
FirePower Capital is the M&A advisory and private capital firm built for Canada’s entrepreneurs. Our team of 40+ professionals help mid-market businesses complete mission-critical transactions, by advising them or investing in their companies directly. www.firepowercapital.com
About VRE Systems
VRE Systems Inc. has decades of experience providing products and services to the retail garden center, horticultural, greenhouse and agricultural industries.
VRE is proudly known as a special company with a strong foundation built on strong values and ethical principles. Our reputation for integrity and honesty has been earned through nearly 40 years of commitment and hard work and continues today. It is located in Grassie, ON, and its 18-acre property has 40,000 square feet of manufacturing space. http://vresystems.com