American equity firm purchases Hoffman Group of Companies
By Medicine Hat News on March 16, 2024.
@MedicineHatNews A U.S.-based private equity firm has bought majority ownership in western-Canadian instrumentation company CDN Controls, which operates a branch in Brooks. That will lead to an expansion in Canada and into the U.S. market, according to press released detailing the sale to the Hoffman Group of Companies. “We see our role as a catalyst for CDN’s continued growth rather than an agent of change, preserving CDN’s strategic and daily operational autonomy,” said Geoff Hoffmann, the new parent company’s chief executive officer. Calgary-based CDN was formed in 2011 and employs 700 people at 10 regional branches in Alberta and northern B.C., as well as a fabrication facility and automation subsidiary. It acquired Brooks-based Inphase Electric and Instrumentation in 2021 and opened a Drumheller office in 2023. The electrical and instrumentation, automation, communication and renewable/solar services firm will also create a U.S.-based wing of the company under the name CAVIS Energy Corp. CDN founders Dean Fraser and Nick Stewart will remain with the company and released a joint statement. “An investment from the Hoffmann Family of Companies will allow our business to seize newer and bigger opportunities,” it reads. “On the horizon are significant opportunities to put our services to good use in the global energy transition-specifically massive improvements and innovations to global energy infrastructure. As the demand grows for large-scale players to undertake this work, the Hoffmann Family of Companies will help to position CDN in that space.” The Hoffmann Family of Companies owns more the 200 business entities in a variety of sectors, including manufacturing, golf courses, and entertainment venues as well as the minor league hockey team, the Florida Everblades. 11-10
