Press Releases, Articles & Announcements
2022 Year in Review
February 10, 2023 by Scott Morrison
Banyan Capital Partners, a leading Canadian middle-market private equity firm, is pleased to announce the following updates from 2022 which marked another successful year for the firm.
New Hires and Promotions
- Scott Morrison has been promoted to Vice President, Business Development
- Chris Luongo has been promoted to Associate
- Marat Altinbaev joined in April 2022 as Vice President
- Michael Tan joined in August 2022 as Senior Analyst
Banyan’s success depends on its ability to attract, develop, and retain high-quality talent.
Learn more about our team.
In Banyan’s first year of ownership, three new executives were hired:
• Mike Betts joined as VP Sales & Marketing
• Jason Bagley joined as COO
• Anand Khanzode joined as CFO
Rack Attack added 14 new locations in Canada and the U.S. during the year, bringing the total store count to 38 across North America.
The Company’s expansion efforts are set to continue in 2023 with the opening of additional stores throughout the year.
Purity Life opened a new 40,000 square foot facility in Laval, QC, expanding its distribution network to over 150,000 square feet across Canada.
Newcrete completed the acquisition of R&L Contracting, a concrete forming business in St. John’s, Newfoundland.
MIP Inc. announced the appointment of Dean Johnson to the position of President and Chief Executive Officer.
Launch of the Banyan Operating Partner Network and welcoming Jason Grouette
In December 2022, Banyan partnered with Jason Grouette, a former 3M executive to target investment opportunities in the safety and industrial B2B space.
We look forward to another successful year and are excited to explore new investments and partnerships with middle market businesses across North America. We continue to invest out of our $216 million committed capital fund targeting investments between $10 million and $50 million of equity per transaction in companies with EBITDA of at least $5 million.
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