BLG advising Vance Street; Davies and BCF Business Law representing Damotech
US private equity firm Vance Street Capital has acquired Damotech, Canada's leading provider of rack safety solutions, in a move that underscores growing investor interest in workplace safety technology. Financial terms were not disclosed.
Damotech, based in Boisbriand, Quebec, specializes in warehouse safety equipment and solutions aimed at preventing injuries and asset loss in industrial settings. The company was previously backed by Mountaingate Capital, whose management team and Damotech's leadership are reinvesting alongside Vance Street as part of the transaction.
The deal marks Vance Street's sixth investment from its fourth fund and its 14th investment focused on industrial technology and safety solutions, a sector the Los Angeles firm has increasingly prioritized.
“Vance Street’s track record of management-friendly growth investing paired with their experience scaling safety-oriented businesses created an ideal partnership,” Damotech CEO Eric Naaman said in a press release. “This partnership will enable us to double down on our exciting growth initiatives while continuing to retain our strong culture and core values.”
“Damotech’s differentiated solutions in warehouse safety and reputation for market innovation closely align with Vance Street’s strategy of supporting best-in-class engineered-solution businesses with a core mandate around safety” said Steve Sandbo, partner at Vance Street. “Together with Damotech’s management team and Mountaingate, we are excited to invest in the company’s continued growth and expansion, while preserving the culture and mission that have made Damotech such a trusted and respected partner in the industry.”
Eric Naaman and his senior management team will remain in place and retain significant ownership stakes.
Borden Ladner Gervais LLP and Paul Hastings LLP served as legal counsel to Vance Street. Damotech was advised by Harris Williams on financial matters and by BCF Business Law, Davies Ward Philips & Vineberg, and Hogan Lovells on legal matters. Bank of Montreal and Apogem Capital provided debt financing for the deal.
Borden Ladner Gervais LLP was named as one of the Best Pro Bono Law Firms in Canada. Read more here.
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