Mississauga, Ontario – July 10, 2024 – TorQuest Partners (“TorQuest”) announces that it has completed the sale of Onyx-Fire Protection Services (“Onyx-Fire” or the “Company”). Onyx-Fire is Canada’s leading independent provider of fire and life safety services. The Company provides critical fire protection services including testing, inspection, repair, retrofit, upgrade, and installation services to ensure that its customers are safe and compliant with stringent regulatory and insurance-related fire safety standards.
The CEO of Onyx-Fire, Bryan Chew, said, “TorQuest has been an ideal partner for us. Their commitment to investing in our business and our people has provided Onyx-Fire with a solid platform for continued growth and success.”
Andrew Kolupanowicz, Partner at TorQuest, noted, “Our investment in Onyx-Fire exemplifies TorQuest’s strategy of investing in great Canadian businesses, and supporting their management teams in their achievement of targeted growth objectives. We are very grateful to Bryan and all of the management and employees of Onyx-Fire for our partnership.”
Onyx-Fire was represented by Torys LLP. Jefferies LLC acted as exclusive financial advisers to the Company.
About Onyx-Fire Protection Services
Onyx-Fire 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-Fire employs over eight hundred individuals. To learn more about Onyx-Fire, please visit www.onyx-fire.com.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$5.0 billion of equity capital under management, TorQuest announced the official closing of TorQuest Partners Fund VI, a C$2.27 billion fund, in December 2023. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit www.torquest.com.