Averna Partners with Investor Tandem Expansion

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

Founded in 1999, Averna is a test engineering company that provides test expertise and solutions for tier-one clients in wide-ranging industries around the world, including aerospace and defense, telecom infrastructures, automotive and transportation, consumer electronics and life sciences. Averna has more than 300 employees and offices in 5 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,” said 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.”

Averna has offices around the world as well as a network of partners such as JOT Automation, Keysight Technologies, and National Instruments. Incorporated in 1999, Averna is a Best in Test award winner and has been honored as one of the Deloitte Fast 500 fastest-growing technology companies in North America.