Los Angeles-based global private investment firm Atar Capital has sold its portfolio company, Microcel, a distributor of lifestyle products in Canada, to Canadian distribution company TDL Gentek.
The transaction closed on 17 July.
Microcel was founded in 1989 in Newmarket, Ontario. Its products include wearables, portable audio, medi-tech, as well as smart home, kitchen and outdoor solutions, while its customer base includes Google, fitbit, Starlink, Anker, Beurer, Blendjet and Polaroid.
Atar Capital acquired Microcel in November 2018.
In a statement, Cyrus Nikou, founder of Atar Capital, said: “We’re proud of the infrastructure investments we supported over the last six years that laid the foundation for the company to expand their brand management and distribution capabilities. This sale marks an exciting opportunity for the continued growth of our mission to build a portfolio of sustainable and purpose-driven businesses.”
In April, Atar Capital’s portfolio company, Solero Technologies, agreed to acquire Kendrion’s automative business in Europe and the US.
Miller Thomson and Kroll Corporate Finance Canada advised on the transaction.
