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EMSPEC joins Hapam, Strengthening the Van Halteren Group of Companies

Raymond Chabot Grant Thornton Corporate Finance is pleased to announce its role as exclusive financial advisor to EMSPEC Inc in connection with the sale of the company.

Based in Québec, Canada, Empsec’s beginnings can be traced back to 1947 as part of the European SDCEM group. Founded in 1992, EMSPEC is a pioneer and innovator in the global switchgear market, specializing in the design and manufacturing of high and medium voltage switching equipment intended for electric power transmission, substations, power generation, renewable energy, and electrified railway transportation systems. Over its 30-year history, the Company has evolved to become an innovative switchgear manufacturer, serving leading utility, industrial and rail transportation companies.

EMSPEC called on Raymond Chabot Grant Thornton’s Corporate Finance experts to advise the Company in connection with the transaction.

“My business is as precious to me as the apple of my eye. It was therefore crucial for me that the buyer take care of it and continue to support its development. Working with the team at Raymond Chabot Grant Thornton was like working with friends who understand your goals.” stated Daniel Mongrain, President at Emspec.

“The success of such a complex project is largely conditioned by the quality of the relationships you have with your advisors. This is exactly what we found in the Raymond Chabot Grant Thornton’ team. ”

Hapam, part of the Van Halteren Group, is an independent manufacturer of high-voltage disconnectors and earthing switches with an excellent performance and world-wide reputation. Hapam has supplied over 200,000 disconnectors in more than 125 countries worldwide. The continuous improvement of materials and technologies have resulted in high-quality products that are easy to install and need minimal maintenance. Next to The Netherlands, Hapam also has factories in Lodz, Poland and Hanoi, Vietnam. Hapam is one of the leading disconnector manufacturers in the world.

Hapam has stated that EMSPEC will continue to operate as an independent brand, meaning that customers will continue to have access to the existing sales and service channels that they are accustomed to.

The acquisition by Hapam is supported with enthusiasm by Emspec’s current shareholders. “We look forward to the strengthening of EMSPEC’s product portfolio within the high-voltage field, which consequently also will be beneficial to the existing customers”, states Daniel Mongrain, CEO of EMSPEC. “EMSPEC’s current shareholders will, after completion of the transaction, remain involved to ensure a smooth transition.”

“We are very pleased to have been able to complete the acquisition of EMSPEC as foreseen. We are consistently investing in new future-oriented technologies to further expand our product and services portfolio, therewith strengthening our corporate and position as a global supplier of energy transmission systems and components”, says Aart Veerman, CEO of Hapam. “The acquisition of EMSPEC is an important strategic step for Hapam. On top of the expansion to the American market, the portfolio of the company is an outstanding addition to our existing strong base.”

To learn more about how Raymond Chabot Grant Thornton can help meet the needs of your business, please contact our deal team.

About Raymond Chabot Grant Thornton

Raymond Chabot Grant Thornton is a Canadian leader in the areas assurance, tax, advisory services and business recovery and reorganization.

Our leading mid-market focused corporate finance advisory team provides sector-specific advice on mergers, acquisitions and divestitures, debt and equity capital markets. By leveraging our extensive experience working with mid-market businesses, our understanding of shareholder objectives, our approach to deal structuring and our creative solutions, we strive to achieve a transaction process that leads to a successful outcome for all stakeholders.

We bring deep industry knowledge to each transaction to support our clients’ corporate finance strategies and priorities. Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 2,600 employees. As a member firm of the Grant Thornton International network and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services network made up of 62,000 people in nearly 140 countries.

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