IMAP advised ready-to-assemble home furniture designer and manufacturer Prepac on sale to Torquest. Private equity firm TorQuest Partners has acquired Prepac. Terms of the transaction were not disclosed.
Established in 1979, Prepac is a Canadian-based designer and manufacturer of affordable, high-quality ready-to-assemble furniture. It runs a state-of-the-art manufacturing facility in Delta, British Columbia, with order-to-ship times of 6-48 hours on its thousands of daily orders. Prepac products are sold through online retailers across North America.
Founded in 2002, TorQuest Partners is a Canadian-based private equity funds manager. With over USD 1.5 billion of equity capital under management, it is currently investing from TorQuest Partners Fund IV, a USD 925 million fund that closed in June 2016. TorQuest invests in middle market companies and works in close partnership with management in order to build up value.
Prepac will continue to be run by the company’s President and Senior Management Team, all of whom are partner investors in the transaction.
The IMAP Canada team, led by Doug Irwin, acted as sole financial
advisor to Prepac.