(Toronto, ON – December 19, 2024) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Midland Appliance Ltd. (“Midland” or the “Company”) to Canadian Shield Capital (“Canadian Shield”) and management.

During its investment period, Ironbridge played a key role in supporting Midland’s growth through the expansion of its sales force, guiding an ownership transition, and overseeing the launch of two new locations in Langley, B.C., and Abbotsford, B.C.

“Our partnership with Midland was an outstanding collaboration, defined by shared commitment and alignment on achieving our growth objectives,” said Andrew Walton, managing partner at Ironbridge. “We wish the management team and Canadian Shield every success as Midland enters its next chapter of growth.”

Lee Methot, president and CEO of Midland, added, “Ironbridge has been a true partner, providing practical guidance to our team and driving continuous improvements to the business. We sincerely thank the Ironbridge team for their support and look forward to the exciting opportunities ahead with Canadian Shield.”

“It was important to Ironbridge that they found a good financial partner for Lee and his team at Midland. We have been very impressed by Midland’s leadership and truly enjoyed working with Andrew and his team at Ironbridge in making this transition to our ownership. We are excited about the future with Lee and his team,” added Andrew W. Dunn, managing partner at Canadian Shield Capital.

Midland is the second exit from Ironbridge’s third private equity fund, LP, Ironbridge Equity Partners III, a fully committed $238 million fund.

About Midland

Midland is a leading retailer and distributor of premium home appliances in British Columbia, Canada. Founded in 1984, Midland provides high-quality appliances and exceptional customer services to builders, designers, and homeowners. Midland Appliance’s portfolio includes over 60 premium brands, offering innovative kitchen and laundry solutions through its four showrooms across the province.

About Ironbridge

The Ironbridge team of seventeen investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.

About Canadian Shield 

Canadian Shield Capital partners with like-minded investors and management teams to create value over a longer term than traditional private equity. The firm collaborates with and supports its partners with capital, innovative financing approaches, process improvements, and strategy development.