Deals

General Atlantic backs Canadian engineering company

A minority investment by the US private equity firm was used to finance Trow Global’s merger with Teknika and will support ongoing global expansion.

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Private equity firm General Atlantic has made a minority investment in Ontario, Canada-based Trow Global. Financial terms were not disclosed.

Trow will use the growth equity investment to support its global expansion. To date, General Atlantic’s investment has been used to finance a merger with Teknika HBA and the expansion of Trow’s employee base, technical offerings and locations.

The merger between engineering and consulting companies Trow and Teknika was made public on 12 June.

The investment in Trow is intended to capitalise on growing global demand for infrastructure improvements, General Atlantic managing director Philip Trahanas said in a statement.

General Atlantic has approximately $17 billion in capital under management. Investments range from $50 million to $500 million in equity for growth, expansions, buy-outs, consolidations and build-ups.

General Atlantic’s current portfolio includes German clinical lab group Wagner Stibbe, Brazilian exchange BM&F Bovespa and Chicago-based electronic trading company GETCO. The firm has US offices in Greenwich, Connecticut, New York and Palo Alto, California. International offices are in Dusseldorf, Hong Kong, Mumbai and Sao Paulo.