OAKVILLE, ONTARIO — Granby Steel Tanks, a maker of steel storage tanks for the North American heating, air conditioning and plumbing market, acquired the assets of Kamco Product in February. Terms were not announced.
Kamco makes coated copper tubing for oil, gas, potable water and various industrial applications. Brad Sigouin, the founder of Kamco, will continue as president. Bill McKinstry will join Kamco as chief operating officer.
With new ownership, Kamco plans to accelerate its sales growth by utilizing Granby’s 50 years of experience in the oil industry via a network of independent distributors in both the United States and Canada. In turn, Granby Steel Tanks plans to use its Kamco line to expand into new sectors of the heating and air conditioning industry.
Granby Steel Tanks is controlled by Torquest Partners, a Canadian-based manager of private equity funds. Its Torquest Partners Value Fund, with a capitalization of more than $180 million, is pursuing investments in middle and later stage companies.