TorQuest Partners acquires Mevotech from Penfund

On July 15, 2024, TorQuest Partners (“TorQuest”) announced that it completed the acquisition of Mevotech L.P. (“Mevotech”) from funds managed by Penfund Management Limited (“Penfund”). Terms of the transaction were not disclosed.

Ezer Mevorach will continue to be the CEO and a member of the board.

Mevotech is the first investment out of TorQuest Partners Fund VI.

Further information can be found on TorQuest’s website.

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

TorQuest Partners, based in Toronto, Ontario, is one of Canada's original private equity firms, with more than 20 years' experience building middle-market leaders across multiple industries. It invests in middle market companies and works in close partnership with management to build value. With more than C$5.0 billion of equity capital under management, TorQuest announced the official closing of TorQuest Partners Fund VI, a C$2.27 billion fund, in December 2023.