Lots of you are watching the hype and noise surrounding GLAM and it's CEO Samir Arora. As an investor in b5, I tend to just stay quiet and let Jeremy stick to his knitting and grow the company.
But there is life in other markets as well as real money being made in non-web stuff and my fellow Canadian VCs are heavily involved.
A few weeks ago, a company called Med-Eng Systems, located in Ottawa Canada, was sold for $650 million in cash/stock to a company called Allen-Vanguard. Allen-Vanguard makes bomb disposal equipment and Med-Eng is another company that specializes in explosive (IED) removal.
Canadian Private Equity firm, Growthworks, was the third largest shareholder and the only Canadian VC involved. A nice 40x return on an early investment goes to Rick Charlebois.
The combined company becomes a big dog in the big business of keeping people from blowing each other up; sadly a business not slowing down. A Canadian company, trading on the Canadian exchange, backed by Canadian VCs, employing lots of Canadians.
What's not to love. Well done, Rick and the Growthworks team.
Read more here.
Thanks for blogging this, Rick. (salute)
Posted by: Scott Pelton | August 13, 2007 at 09:10