Toronto, Ontario – TorQuest Partners announced today that the firm and its co-investors have completed the sale of their majority interest in Array Marketing ("Array" or "the Company") to The Carlyle Group. Terms of the transaction were not disclosed.
Michael Hollend, Partner at TorQuest said, "Array's success over the past three and a half years is the result of the company's commitment to market leadership and product design, and the hard work of its many talented employees. Array has been an outstanding investment for TorQuest and our partners, and we are grateful to Array's management team for its dedication to the Company and excellent work over our hold period". Eric Berke, Managing Partner at TorQuest, added, "The success of our investment in Array exemplifies TorQuest's strategy of partnering with company founders and strong management teams, who are meaningful owners of the business alongside us."
Tom Hendren, CEO of Array said, "TorQuest has been an ideal partner for us. Their commitment to investing in our business and our people has provided Array with a solid platform for continued growth and success. The management team remains highly committed to the business and our customers, and we will remain meaningful shareholders as we forge our new partnership with Carlyle."
TorQuest and its co-investors acquired Array in June 2012. Throughout its ownership, TorQuest supported management and the Company as they invested in Array's people, infrastructure, technology and business processes to improve operations, expand international capabilities and enhance service to its clients.
Headquartered in Toronto, Ont., Array is one of the largest North American providers of visual merchandising solutions to high-end cosmetic brands, delivering fully integrated store fixtures and merchandising displays. The Company's offering includes design conceptualization and development, engineering, procurement, and production of retail displays and store fixtures. The Company's success is attributable to its strong partnerships with leading global clients, having provided them with innovative merchandising solutions for over 30 years.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$1 billion of equity capital under management, TorQuest invests in middle market companies, and works in close partnership with management to build value. To learn more about TorQuest Partners, visit www.torquest.com.