TorQuest Partners has completed the acquisition of Mevotech L.P. from funds managed by Penfund Management Limited .

Ezer Mevorach will continue to be the CEO and a member of the board. Terms of the transaction were not disclosed.

Headquartered in Toronto, Ontario, Mevotech is a trusted North American leader in the engineering and design of driveline, steering, and suspension parts for the auto aftermarket.

Ezer Mevorach, CEO, said, “Penfund has been an excellent partner for us. Their commitment to investing in our business and supporting our team has enabled our company to provide best-in-class product lines and service levels for our valued customers. We have enjoyed our partnership with Penfund and are excited about working closely with TorQuest over the coming years.”

“Our investment in Mevotech exemplifies TorQuest’s strategy of partnering with great Canadian businesses and working closely with management to support the next chapter of growth,” said Daniel Sonshine, Partner at TorQuest. ​“TorQuest admires what Ezer and his team have accomplished in building Mevotech to date and we look forward to supporting their next phase of growth”

Jeremy Thompson, Partner at Penfund, noted, ​“On behalf of our investors, we would like to thank Ezer and the Mevotech management team for our incredible partnership over the last 10 years. It has been very gratifying to see their consistent effort result in the Company’s leadership position in its auto aftermarket categories. We wish them continued success with their new partner.”

Mevotech will be the first investment out of TorQuest Partners Fund VI.

Harris Williams LLC and William Blair & Company LLC acted as financial advisors to the Company. Osler, Hoskin & Harcourt LLP and Goodmans LLP acted as legal counsel to the Company and management. Torys LLP served as legal counsel to TorQuest Partners.