Aimia acquires Tufropes for C$249.6M

On March 17, 2023, Aimia Inc. ("Aimia") completed its acquisition of all of the issued and outstanding shares of Tufropes Pvt Ltd. ("Tufropes") for C$249.6 million on a cash-free and debt-free basis. Paladin Private Equity LLC ("Paladin") acted as Aimia's partner in the transaction and has an option to acquire up to a 19.9% minority equity position of Tufropes from Aimia within a year of closing.

Aimia, headquartered in Montreal, is a holding company with a focus on making long-term investments in public and private companies through controlling or minority stakes.

Tufropes is a Mumbai, India-based global leader in the manufacturing of synthetic fiber ropes and netting solutions for primarily aquaculture and maritime customers.

Paladin is a global private equity firm based in Los Angeles that focuses on investments and companies within the industrial technology sector.

McCarthy Tétrault advised Aimia with a team led by Hadrien Montagne and Vincent Laurin that included Gerald Gaunt, Charles-Étienne Pressé, Curtis Chance, Olivia Martin (Business), and Patrick Pengelly (Employment).