Test & Measurement Solutions: Tandem and CDPQ back Averna's acquisition of T&M Solutions

Averna has acquired Belgium's Test & Measurement Solutions Group (T&M Solutions), a provider of technology solutions for the quality control of diverse products and production processes. No financial terms were released. Averna's primary investors, Tandem Expansion Fund and the Caisse de dépôt et placement du Québec (CDPQ), contributed to the deal's financing. Montréal-based Averna, a developer of test solutions and services for communications and electronics device makers, said the acquisition represents a major expansion by the company into the European market. Last April, Tandem, a Canadian late-stage venture capital firm, bought a majority stake in Averna.