TriWest Capital Partners, a Canadian-based private equity firm, has bought Monarch Industries, a manufacturer of hydraulic cylinders and custom iron castings.

Monarch produces hydraulic cylinders and custom iron castings for the agriculture, construction and industrials markets. The acquisition was made in partnership with BDC Capital’s Growth Equity Partners, BMO Capital Partners and Export Development Canada.

“Monarch is a leading Western Canadian business with a dedicated and driven management team committed to manufacturing high-quality, mission-critical products for OEMs,” comments Jon Spencer, managing director at TriWest. “We believe there are significant growth opportunities available to Monarch through the expansion of new and existing customer relationships across the company’s end markets.”