TorQuest Partners Inc. Completes Purchase of 3M Priority Control and Traffic Detection Businesses

TORONTO--(BUSINESS WIRE)--3M announced today it has completed the sale of its Opticom Priority Control Systems and Canoga Traffic Detection businesses to TorQuest Partners Inc., a Toronto-based private investment firm, and members of the senior management team of the businesses.

A new company will be formed, called Global Traffic Technologies LLC, which will be headquartered in the Twin Cities under the leadership of Rick Sachse, formerly manager of these businesses that were part of the 3M Traffic Safety Systems Division. The products will continue to be sold under the Opticom and Canoga brands, offering the reliability, quality and performance required by customers, and will continue to be serviced around the world.

3M will continue to grow its Traffic Safety Systems Division business globally by providing advanced technologies to enhance roadway safety, efficiency and traffic management through signing, pavement marking, vehicle registration and intelligent transportation solutions.

About TorQuest
Founded in 2002, TorQuest Partners Inc. is a Canadian-based manager of private equity funds. With more than C$700 million of equity capital under management TorQuest seeks to pursue investments in middle market and later stage companies with the goal of building value through opportune acquisitions, strategic leadership and the timely use of financial expertise. For more information, please visit www.torquest.com.