M&A Deal Summary

Alberta Investment Management Acquires Cando Rail & Terminals

On July 20, 2022, pension Alberta Investment Management acquired infrastructure company Cando Rail & Terminals from TorQuest

Acquisition Highlights
  • This is Alberta Investment Management’s 1st transaction in the Infrastructure sector.
  • This is Alberta Investment Management’s 5th transaction in Canada.
  • This is Alberta Investment Management’s 1st transaction in Manitoba.

M&A Deal Summary

Date 2022-07-20
Target Cando Rail & Terminals
Sector Infrastructure
Buyer(s) Alberta Investment Management
Sellers(s) TorQuest
Deal Type Secondary Buyout
Advisor(s) Wells Fargo Securities (Financial)
Torys LLP
MLT Aikins (Legal)

Target

Cando Rail & Terminals

Brandon, Manitoba, Canada
website
Cando Rail & Terminals Design, build, operate, finance, and maintain rail solutions. Cando Rail & Terminals provides Sophisticated tracking and analytics, inventory management, and scheduled maintenance programs. Cando Rail & Terminals was founded in 1978 and is based in Brandon, Manitoba.

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Buyer(S) 1

Buyer
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 29 of 30
Sector (Infrastructure) 1 of 1
Type (Secondary Buyout) 11 of 12
State (Manitoba) 1 of 1
Country (Canada) 5 of 5
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 Eolia

Madrid, Spain

Eolia is an independent power producer in the Spanish renewable energy sector, engaged in the development, construction and operation of wind farms and solar photovoltaic plants. Eolia was founded in 2007 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 Howard Energy Partners

San Antonio, Texas, United States

Howard Energy Partners is an independent midstream energy company that owns and operates natural gas gathering lines, processing facilities, and pipelines, as well as oil gathering lines, a liquids stabilization plant, and bulk liquid storage terminals. Howard Energy Partners was founded in 2011 and is based in San Antonio, Texas.

Sell -

Seller(S) 1

SELLER

TorQuest

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.


DEAL STATS #
Overall 24 of 26
Sector (Infrastructure) 1 of 1
Type (Secondary Buyout) 9 of 10
State (Manitoba) 1 of 1
Country (Canada) 18 of 20
Year (2022) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Barrette Outdoor Living

Middleburg Hts, Ohio, United States

Barrette Outdoor Living empowers homeowners to bring their personal outdoor space to life by providing fencing, railing, decking, and complimentary outdoor products that beckon people to embrace their Outside SideTM. Barrette Outdoor Living is proud to be an American manufacturer, with 14 locations throughout North America that provide outdoor products sold through specialty retailers, home centers, and lumberyards. Featuring more than 70 patents, proprietary state-of-the-art machinery, and rigorous testing and control standards, Barrette Outdoor Living products are meticulously engineered, and designed for flexibility and ease of installation. Barrette Outdoor Living is based in Middleburg Hts, Ohio.

Sell $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 S.i. Systems

Calgary, Alberta, Canada

S.i. Systems is an IT staffing company that uses a proprietary web-based match-making solution called MatchGuide to provide precision contract and permanent placements for IT professionals across Canada. S.i. Systems was founded in 1994 and is based in Calgary, Alberta.

Buy -