Globe and Mail, George Rossolatos recognized as one of Canada’s Top 40 under 40

George Rossolatos learned about business in his father's auto repair garage, where he spent many summers working for what seemed like a kingly wage of 50 cents an hour.

"I was balancing cash when I was nine years old and dealing with customers," recalls Mr. Rossolatos, partner and co-founder of TorQuest Partners Inc. in Toronto.

Those informal business lessons — later supplemented with a commerce degree from Queen's University in Kingston and an MBA from Northwestern University's Kellogg School of Management in Chicago — have certainly come in handy.

For seven years, he and business partner Brent Belzberg have been building their company, as well as other businesses. As a private equity firm, TorQuest seeks control or partnerships in companies operating in established industries. "We do friendly deals," Mr. Rossolatos says.

"We look primarily at Canadian businesses where we can bring our expertise and transform them into something that's bigger, better and has more value."

Along the way, TorQuest has grown, to 19 employees and more than $700-million of equity capital under management. Not bad for a company born in a coffee shop. In 2001, Mr. Rossolatos was working as assistant vice-president at the Toronto investment firm Harrowston Inc. when it was bought by TD Capital. Shortly after, Mr. Belzberg, who had founded Harrowston, approached him about starting a company. "We met at Starbucks and figured out what we wanted the new company to look like," Mr. Rossolatos recalls. "We drafted the prospectus and then pitched our idea to investors."

By February of 2002, TorQuest had raised $135-million of private equity capital. Four months later, it closed its first fund with $183-million. He is happy to report that his father, now retired, is extremely proud of him.

"I still go back and visit the garage, which is now run by some of the guys who were working for my Dad. There are a lot of happy memories in that place."