On September 30, 2022, TriWest Capital Partners, a Canadian private equity firm, acquired Monarch Industries, a manufacturer of hydraulic cylinders and custom iron castings for agriculture, construction, and industrial markets. The acquisition, made in partnership with BDC Capital’s Growth Equity Partners, BMO Capital Partners, and Export Development Canada, positions Monarch for significant growth. Jon Spencer, Managing Director at TriWest, highlighted the potential for expanding customer relationships across Monarch's markets.

Bennett Jones LLP advised TriWest Capital Partners, while Fillmore Riley LLP acted as counsel for Monarch Industries Limited. The transaction value was not disclosed.