June 24, 2013
TORONTO - Signal Hill Equity Partners ("Signal Hill") announced today that it has acquired Romet Limited ("Romet" or the "Company"), a leading Ontario-based precision manufacturer of rotary gas meters for the gas utilities industry in North America and globally.
"Romet has been committed to producing high quality products and providing superior customer service to its customers for over 40 years" said James C. Johnson, Managing Partner, Signal Hill. “We are excited to build on the years of hard work to help the Company expand its domestic and international market share.”
"We are very pleased to have Signal Hill as part of the Romet team to provide financial, operating and strategic support. Their expertise will help accelerate the business model and make some of our growth plans a reality," added Rick Grzeslo, President of Romet.
Founded in 1972, Romet has grown to become an international market leader in positive displacement rotary gas meters, electronic volume and temperature instrumentation and auxiliary equipment. The Company has a broad customer base with most of its key customer relationships extending over 15 years. Romet sells its products to utilities and distributors in Canada, United States, Indian subcontinent and Asia.
About Signal Hill Equity Partners
Signal Hill is a Canadian-based private equity firm managed by experienced investors and business operators, focusing on Canadian mid-market companies. The Signal Hill team has completed over 100 transactions across a variety of industries including financial services, specialty distribution, business services and manufacturing. Members of the Signal Hill team have partnered and worked with management teams to build some of the most successful businesses of their kind in Canada and the United States.
Signal Hill Equity Partners is currently investing its second private equity fund, a $100 million fund that can be invested at its discretion in mid-market Canadian companies.
For more information contact:
James C. Johnson