Averna partners with Tandem Expansion Fund

April 2, 2015

Averna, a developer of test solutions and services for communications and electronics device-makers worldwide, announced that Tandem Expansion Fund, a Canadian growth-equity investor, has acquired a majority interest in the company. The transaction provides Averna with the financial resources to accelerate organic and strategic growth as well as to expand its international presence.

Founded in 1999, Averna is a test engineering company delivering innovative test expertise and solutions for tier-one clients in wide-ranging industries around the world, including aerospace and defense, telecom infrastructure, automotive and transportation, consumer electronics, and life sciences. Averna has more than 300 employees and offices in five countries.

“This is a new chapter for Averna, and we are proud to have the support of these strategic and respected partners who share our vision and values,” said André Gareau, Averna’s president and CEO. “Averna is a Montreal-based success story, and it is important for us to continue hiring the best local talents. This investment will help us extend our leadership position in each of our key industries as well as continue growing the company locally and internationally.”

“Averna’s unique expertise in test, growing base of customers across the globe, excellent management team, and portfolio of solutions position the company at the forefront of the electronic test and quality market,” stated André Gauthier, managing partner at Tandem Expansion fund. “With this investment, Tandem is providing solid support to Averna in the next phase of its development.”

Key Averna clients in the communications, aerospace, defense, automotive, consumer electronics, and medical-device industries use Averna’s Proligent software, RF test instruments, and other test solutions to accelerate product development, reduce manufacturing costs, achieve quality throughout the lifecycle, and solve critical supply-chain issues. Averna partners include JOT Automation, Keysight Technologies, and National Instruments.

www.averna.com

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