Tandem Expansion announces sale of Delta-Q Technologies Corp
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.
Delta-Q is a leading manufacturer of on and off-board battery chargers for industrial and recreational electric drive vehicles and equipment. The company sells mainly to OEMs as well as battery suppliers and aftermarket channels. The market for the company's products continues to expand, fueled by the global demand for clean, zero emissions, low maintenance, high performance electric vehicles and equipment.
Zapi S.p.A is the parent company of ZAPI Group, whose affiliates are market leaders in electric and electronic motion control for industrial/off-highway/agricultural vehicles. ZAPI Group companies design, develop and manufacture state-of-the-art electronic controllers, inverters, electric machines and battery chargers. ZAPI Group is partner of all major OEM serving them worldwide and is constantly increasing its market share and reputation. ZAPI Group annual revenue is expected to exceed $400 million this year.
"We are proud to be able to complement our business portfolio with Delta Q" – stated Giannino Zanichelli, ZAPI Group President - who stressed the strategic importance of such an acquisition to enhance the competitive advantages of ZAPI Group and grow further.
SOURCE TorQuest Partners
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