TORONTO — Ontario Teachers' Pension Plan Board has signed a deal to buy a majority stake in elevator component manufacturer Vantage Elevator Solutions.

Financial terms of the sale were not disclosed.

Under agreement, Vantage's current owner, Golden Gate Capital, will keep a significant minority stake in the company. 

Vantage has eight business units including GAL, GAL Canada, Hollister-Whitney, Elevator Controls, Courion, Thames Valley Controls, Vertical Dimensions and Bore-Max. 

The deal is expected to close before the end of the year.

Ontario Teachers' invests and administers the pensions of Ontario's active and retired teachers. 

This report by The Canadian Press was first published Oct. 13, 2021.

The Canadian Press