Mississauga, ON – April 7, 2021 – TorQuest Partners (“TorQuest”) is pleased to announce that it recently completed a controlling equity investment in Onyx-Fire Protection Services Inc. (“Onyx” or the “Company”), partnering with Onyx’s management team to drive the next chapter of growth for the Company. Terms of the transaction were not disclosed.
Onyx provides fire and sprinkler system inspections, maintenance, repair and installation services to more than 7,000 customers across Ontario. With over 300 employees, Onyx boasts the largest base of fire and sprinkler technicians in Ontario and has an unparalleled reputation for both service excellence and technical leadership.
Onyx’s President, Rob Frappa, said “We are thrilled to be taking on a strong new partner who believes in the growth potential of our business and is experienced in working with companies like ours to build longstanding value. We look forward to leveraging Torquest’s capabilities and relationships to grow the business.”
TorQuest has partnered with the Onyx team to accelerate the growth of the Companyand broaden its presence within the marketplace. To support this strategy, Onyx is pleased to announce the hiring of Bryan Chew as Onyx’s new Chief Executive Officer. Bryan joins Onyx from Brookfield Asset Management and has substantial experience leading the growth of real estate service businesses.
Bryan will work in conjunction with the senior executive team to help accelerate Onyx’s growth strategy and acquisition program. “I am very excited to join the Onyx team and partner with Torquest. I am particularly impressed with Onyx’s culture, capability, and customer focused service approach,” said Bryan. “We see a significant opportunity to expand the business and support its growing customer base.”
About Onyx-Fire Protection Services
Onyx is Ontario’s leading fire and life safety services provider, offering inspection, service and repair, and installation fire and life safety solutions to a diverse array of end markets. Headquartered in Mississauga, Ontario, Onyx employs over 300 people. To learn more about Onyx, please visit onyx-fire.com.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$3 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.375 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest Partners, please visit torquest.com.