M&A Deal Summary

Mubadala Capital Acquires Canada Cartage

On August 8, 2022, sovereign wealth fund Mubadala Capital acquired transportation company Canada Cartage from Nautic Partners and Constitution Capital Partners

Acquisition Highlights
  • This is Mubadala Capital’s 2nd transaction in the Transportation sector.
  • This is Mubadala Capital’s 2nd transaction in Canada.
  • This is Mubadala Capital’s 1st transaction in Ontario.

M&A Deal Summary
Date 2022-08-08
Target Canada Cartage
Sector Transportation
Buyer(s) Mubadala Capital
Sellers(s) Nautic Partners
Constitution Capital Partners
Deal Type Secondary Buyout

Target

Canada Cartage

Mississauga, Ontario, Canada
website
Canada Cartage is a provider of customer-located, dedicated trucking services and warehouse solutions to specific customers and reside at their locations. Canada Cartage was founded in 1914 and is based in Mississauga, Ontario.

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Buyer(S) 1

Buyer

Mubadala Capital

Investor

website

Category Sovereign Wealth Fund
Founded 2002
PE ASSETS 276.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Mubadala Capital is a private equity firm focused on investing capital across a range of assets worldwide. The Firm primarily invests in private and public assets, but also considers credit, real estate, and alternatives. Mubadala invests in a variety of sectors including industrials, healthcare, energy, renewables, financial services, infrastructure, and business services. Mubadala Capital was founded in 2008 and is headquartered in Abu Dhabi, United Arab Emirates.

DEAL STATS #
Overall 36 of 40
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 12 of 13
State (Ontario) 1 of 1
Country (Canada) 2 of 3
Year (2022) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 Avalara

Seattle, Washington, United States

Avalara provides a suite of cloud-based solutions designed to improve accuracy and efficiency by automating the processes of determining taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Avalara was formed in 2004 and is based in Seattle, Washington.

Buy $8.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-18 TruFood Manufacturing

Pittsburgh, Pennsylvania, United States

TruFood Manufacturing is a contract manufacturer of branded and private-label nutrition bars, protein bars, chocolate moulded products, and baked goods. TruFood Manufacturing's products are sold at the club, grocery, drug, convenience, and department stores worldwide. TruFood Manufacturing was founded in 2002 and is based in Pittsburgh, Pennsylvania.

Buy -

Seller(S) 2

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 44 of 47
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 19 of 20
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-11 ITS

Fort Washington, Pennsylvania, United States

ITS is a managed services provider with a focus on proactive and strategic support for small and mid-market businesses. ITS partners with clients to align technology with business goals, secure data, and networks, and improve processes through tailored, innovative solutions. In addition to providing comprehensive managed IT services, it offers cybersecurity, cloud, custom application development, and business intelligence services. ITS was founded in 1994 and is based in Fort Washington, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-05 PECAA

Boca Raton, Florida, United States

PECAA is an alliance to provide purchasing services and management support to more than 10,000 independent U.S. eye care professionals. PECAA was founded in 2017 and is based in Boca Raton, Florida.

Sell -
SELLER

Constitution Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Constitution Capital Partners is a private equity firm focused on buyouts of North American companies. Constitution typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. The Firm was formed in 2008 and is headquartered in Andover, Massachusetts.

DEAL STATS #
Overall 23 of 23
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 OmniSYS

Dallas, Texas, United States

OmniSYS is a provider of medical claims management and compliance IT services for pharmacies, durable medical equipment providers, managed care organizations, and commercial retiree plans. OmniSYS was founded in 1988 and is based in Dallas, Texas.

Sell -
Mergr

Product

Company

Legal