TORONTO, Dec. 12, 2016 /PRNewswire/ - Tandem Expansion Fund is pleased to announce the sale of Vancouver based Delta-Q Technologies Corp., in which Tandem Expansion is the largest shareholder with a 42% ownership interest, to Italian company Zapi S.p.A.
Sandy Scott Partner at Tandem Expansion stated: "We are profoundly appreciative of Ken Fielding CEO/co-Founder and Delta-Q's management/employees for the opportunity to be associated with such a high caliber company over the past 6 years. Since its founding, in 1999, Delta-Q has shown that Canadian companies can attract large scale local capital, world class human resources, a skilled mentor support system, and scale to be successful on a global stage. The Governments of Canada and British Columbia have provided an enabling environment for high growth, innovation companies such as Delta-Q to succeed over the long term. Delta -Q is an example of how a cohesive amalgam of Canadian entrepreneurism, Canadian capital, Canadian government support and a Canadian Will 'to be the best on a global basis' can drive great achievements".
Ken Fielding CEO and co-Founder of Delta-Q stated that "Delta-Q continues to grow and evolve and has benefited tremendously from the Tandem Expansion investment. But money alone doesn't build a great company – it is exceptional people coming together, helping to build a shared vision and executing on that path and this is where Tandem has clearly delivered. Tandem has been a great financial partner for myself and for Delta-Q, investing at a critical time for our company, helping in shaping our strategic direction which accelerated our growth. Delta-Q is a company that really is all about innovation and change. We believe we've changed our industry through the introduction of advanced and robustly designed products helping to push the boundaries of what electrified vehicles and equipment can do. We are excited about where we can go next, building on the exceptional capabilities of our team, our strong core values and further leveraging the Delta-Q brand which is well recognized in our markets. As part of the Zapi S.p.A group we look forward to continuing to drive our growth forward, leveraging their capabilities, complementary technologies and global foot-print."
Tandem Expansion is a Canadian based technology growth fund which supports the scaling of Canadian companies. Tandem Expansion has investments in companies across a wide array of technology markets including industrial, software, hardware, digital media, cloud computing, mobile, virtual reality and energy. Tandem Expansion investee companies have annual revenue in excess of $380 million.