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Indian company Captronic Systems joins Safran Data Systems

Safran Data Systems, a subsidiary of Safran Electronics & Defense, has just acquired Captronic Systems, a local Indian company. As a leading player in the space industry supplying instrumentation for testing, telemetry and communications with satellites, launch vehicles and all types of remote platform, Safran Data Systems is expanding its product portfolio and continuing to strengthen its international operations in this strategic country.

An extensive range for Aerodefense and Space markets

Within 20 years, Captronic Systems has developed unique expertise in studying, developing and supplying automated test equipment for aerodefense, space and automotive applications. With a team of more than 100 engineers based in India, in Bangalore, Chennai and Thiruvananthapuram, the company is renowned for its skills in systems engineering, radio frequency, digital signal processing, instrumentation and testing.

While keeping growth across its historic markets in India and Southeast Asia, Captronic Systems will also allocate resources to integrate, adapt and support Safran Data Systems’ offers in this region, with a particular focus on organizations that are related to the India’s Defence and Research Development Organisation (DRDO) and the Indian Space Research Organisation (ISRO).

Safran will also benefit from Captronic Systems’ expertise in automated test equipment engineering, validation and integration in Europe.

In line with the Indian government’s “Make in India” plan

Safran recently confirmed its commitment to the “Make in India” policy launched by the Indian government to encourage businesses to design, manufacture and assemble hi-tech products locally.

Over 50 years after joining the space race, India is among the world’s leading players and has seen strong growth in recent years with a number of exploration programs supported by India’s space agency. Many private initiatives supported by governmental organizations are also contributing to the development of New Space (lightweight launch vehicles, micro and small satellites, etc.).

The acquisition will enable Safran Data Systems to extend its operations in India and make this strategic country another pillar to support its ambitions in Asia.

Canec facilitated this transaction, acting as co-M&A advisor to Captronic together with their Indian advisor, Mindspring Advisors.

merger of Eurogerm USA and KB Ingredients

With the merger, the EUROGERM group is acquiring strategic assets for its development in the United States, Canada and the Caribbean. The complementary assets and combined expertise between the two companies, specializing in bakery ingredients, will make it possible to support current and future North American customers with optimal efficiency and responsiveness.

Located in New Jersey, with direct access to the East Coast, KB INGREDIENTS production and packaging plant will increase EUROGERM’s production and distribution capacities in North America. EUROGERM USA, for its part, will provide access to the group’s various elements of expertise: CSR, R&D, global sourcing, training, regulatory compliance, sensory evaluation.

The creation of EUROGERM KB LLC offers customers and vendors in the North American market the opportunity to work with an innovative and agile partner while benefiting from the support of an international group. The pooling of resources and particularly the supply of raw materials will generate strong purchasing synergies, a major advantage during this period of inflation.
United around common values -integrity, respect, commitment and passion for success- EUROGERM USA and KB INGREDIENTS will share within EUROGERM KB LLC the same ambition in the service of their customers: Feeding a better future!

“We are very pleased with this merger between our two companies. EUROGERM KB LLC will allow us to strengthen the proximity with our customers, to develop and offer new expertise, particularly in the field of pastry”. Jean-François HONORÉ, President of the EUROGERM Group, Ben KANSAKAR, CEO of EUROGERM USA and Brad KEATING, Founder and CEO of KB INGREDIENTS.

Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Eurogerm.

Acquisition of Asenzya

Bringing culinary expertise in savoury to the US

Solina, a leading European producer of savoury ingredients solutions for the food industry, announces the completion of the acquisition of Asenzya® Inc.

Headquartered in Oak Creek, Wisconsin (United States), the company takes a culinary approach to the creation of custom, dry savoury solutions. Asenzya®, has invested in building world-class culinary, R&D and operations infrastructure to establish itself at the forefront of the industry in North America. Asenzya count 145 employees and have a turnover of USD 50M$.

For Solina, the acquisition continues a long-running strategy of expanding geographically through takeovers and establishes it in the US for the first time. Having built a leadership position in Europe, Solina entered North America in January 2020 through the takeover of Canadian foodservice leader Berthelet. Entering the US by acquiring a business with complementary capabilities and culture means another milestone for Solina’s growth trajectory.

Patty Goto, President of Asenzya®, commented: “We are pleased to join the Solina Group. Our shared vision of technology, innovation, and culinary trends will create the perfect blend for strategic growth within the United States. Solina offers Asenzya a broader reach across the globe and we are very excited to share future success.”

Anthony Francheterre, CEO of Solina, added: “The acquisition of Asenzya® is a landmark in the geographic expansion of Solina. With a presence in the US, we are now positioned to work closely with the North American food industry to deliver innovative solutions that enable our customers to meet ever-changing consumer demands.”

Eric Terré, Solina Founder and Chairman stated: “Asenzya® is an ideal fit for Solina. Both companies have roots in servicing the meat industry and have diversified in recent decades, with Asenzya® expanding to cover the protein, snack food, sauces, bakery and frozen foods industries. Working out of a state-of-the-art technical centre, Asenzya® has stayed at the forefront of innovation as it has expanded, while retaining the family values that have helped it forge strong ties with its customers and employees.”
The parties have agreed not to disclose the transaction value.

Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Solina.

Solina Group completes the acquisition of Produits Alimentaires Berthelet

Solina, a leading European producer of savoury ingredients for the food industry, announces the completion of the acquisition of Produits Alimentaires Berthelet from Berthelet Family the shareholders of the Company.

Headquartered in Laval, Québec, Berthelet has a leading position in the Canadian Foodservice market through kitchen-made quality products. Berthelet is a premium foodservice brand trusted and endorsed by chefs accross Canada.

The company was founded in 1960 by the Berthelet family. Leader in the industrial and foodservice applications in Quebec, Berthelet produces dry and liquid food solutions. The company rapidly expanded to the rest of the Canadian market as well as in the US through a dynamic retail approach. Berthelet generates revenues of approx. CAD$ 50M with 170 employees and 2 factories, one dedicated to dry solutions (Laval) and one specialized in the production of liquid solutions (Boisbriand). The management team has delivered a strong performance, particularly over the past 5 years.

For Solina, the acquisition represents the latest step in its growth strategy across the food service market after the acquisition of Essential Cuisine (UK) in 2018.

The two companies share the same entrepreneurial values. The approach to customers is agile, flexible, service- minded with the ultimate objective of delivering value-added solutions.

Guy Berthelet, Chairman of Berthelet Board states: “after 60 years of running a successful family business, we are proud to entrust future growth of Produits Alimentaires Berthelet to Solina Group, a leading European company that shares same mission, vision and values. We will become Solina North America base and will allow Solina to expand its activities in foodservice, industrial and retail markets this side of the ocean. As such, our management stays in place, we will still be running both our plants in Laval and Boisbriand so jobs will be preserved, all of which are of foremost importance to the family. I am personally excited to write that new page in our history and look forward to a bright future for the company founded by my grandfather more than 60 years ago”.

Eric Terré, Solina founder and Chairman says: “This acquisition is fully in line with our group’s growth strategy and a first building block for us in the Americas. I am encouraged by the strategic fit and cultural alignment, and we will pursue our external growth path across the Atlantic”.

The parties have agreed not to disclose the transaction value.

Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Solina.

Radiall completes the acquisition of Timbercon Inc.

Radiall America, Inc. announced today that it has completed the acquisition of Timbercon, Inc., a fiber optic interconnect specialist based in Tualatin, Oregon.
“We are excited to welcome Timbercon to the Radiall Group. By combining our activities, our objective is to offer the most comprehensive range of end to end active and optical interconnect solutions for harsh environments, through innovation, simplification and service,” says Pierre Gattaz, President & CEO.
“Joining the Radiall Group will allow Timbercon to continue to elevate its commitment to stellar customer service and providing zero defect solutions, on time, and on budget to demanding markets. We are very excited what the future brings as part of the Radiall Team,” says Eric Meslow, President of Timbercon.
Timbercon, Inc. will continue to operate as a standalone company under its current leadership, while leveraging synergies with Radiall.

About Radiall
Radiall, founded in 1952, is a global manufacturer of leading-edge interconnect solutions that employs 3,500 individuals. The company offers an extensive range of RF coaxial connectors and cable assemblies, coaxial switches, fiber optic and microwave components, multipin connectors and more. Radiall has sales offices and subsidiaries throughout the world to support its customers locally.

About Timbercon
Timbercon, Inc., an 80 employee company founded in 1997, is a fiber optic product and solution manufacturing company that provides a variety of connectivity solutions to the aerospace, defense, medical, data storage, telecommunications, industrial, broadcast and networking industries.

Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Radiall.

Puratos Canada acquires Sandel Foods inc.

Puratos Canada, the Canadian arm of global Belgium-based ingredient supplier, Puratos, is pleased to announce the strategic acquisition of Sandel Foods Inc (SFI).

Established in 1979, SFI is one of the leading fruit fillings producers in Western Canada. SFI offers the expertise and flexibility to formulate products to meet the evolving needs of customers and consumers across Western Canada and the United States. They are the only processors in Canada that provide glacé fruit products and are particularly known for their organic and preservative-free fillings.

Sandel Foods, a leading fruit fillings producer in Western Canada, operates out of its headquarters in Chilliwack, British Columbia.
The facility is over 70,000 square feet of automated production lines. “We are very excited and look forward to working with a strong-valued, family-oriented, and customer-centric company,” says Wade Godin, Commercial Director of Sandel Foods. “Finding a partner in Puratos gives us the confidence that the business will continue to grow on a global level and that Sandel Foods will gain access to new technologies and industry-leading Research & Development opportunities.”

As reliable partners in innovation, Puratos offers a full range of innovative products and application expertise. The Mississauga facility has an Innovation Centre, four production lines, a full R&D team and access to consumer research such as Taste Tomorrow, the world’s largest bakery, patisserie, and chocolate consumer survey.

This partnership will afford SFI access to new customers, technologies, R&D and marketing resources, allowing them to grow and expand their geographical sales offerings.

“We strongly believe that this strategic acquisition will be mutually beneficial and allow growth for both parties,” says Edouard Pot, President Puratos Canada. “The experienced team at SFI and its manufacturing platform produce high-quality and differentiated products which will enable us to expand our fillings portfolio and capabilities and enlarge our footprint in western North America. Additionally, SFI’s organic and preservative-free offerings align with Puratos’ proactive approach to consumer well-being. Through our Cleaner Label strategy, we are addressing increasing consumer demand for transparency and offering products that meet ever-changing dietary needs and lifestyle choices.”

Puratos aims for a seamless transition and integration for customers, suppliers, vendors, and partners. Future endeavors include exploring opportunities to bring in new resources, capabilities, and R&D support to enable accelerated growth.

Canec originated and facilitated this transaction, acting as exclusive M&A advisor to Puratos.