OMERS Infrastructure Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, OMERS Infrastructure has acquired 4 companies. It has also invested in 3 others.

OMERS Infrastructure’s most common sectors for investment areenergy services and equipment (17%) and utilities (17%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (45%) and secondary buyout (21%). In total, OMERS Infrastructure has invested in 9 US states and 14 different countries. Its largest (disclosed) acquisition occurred in 2014 when it acquired Caruna for $2.9B.

In the last 3 years, OMERS Infrastructure has exited 9 companies. The Firm’s most common exit type is trade sale (50%). OMERS Infrastructure’s largest (disclosed) exit occurred in 2024 when it sold LifeLabs for $985M.

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M&A Summary

  • M&A Total Activity71
    • M&A Buy Activity53
    • M&A Sell Activity18
  • Total Sectors Invested 17
  • Total Countries Invested 14
  • M&A Buy/Sell Connections 26
  • M&A Advisors 18

OMERS Infrastructure

OMERS Infrastructure

EY Tower 900 - 100 Adelaide St. W.,
Toronto, Ontario M5H 0E2
Canada
(416) 369-2400
www.omersinfrastructure.com
infoinfrastructure@omers.com

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


Investment Criteria

Sectors of Interest: Communications, Infrastructure, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 200 -
Enterprise Value 1,000 -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.8/yr) # 44 3 4 1 1 - 53
vol $4.9B $4.9B
Sell (2.2/yr) # 7 2 5 3 1 - 18
vol $312M $985M $1.3B
  71

Most Recent M&A

Company Date Value Type
Grandi Stazioni Retail S.p.A. 2024-08-06 - Secondary Buyout
Rome, Italy · www.gsretail.it
LifeLabs, Inc. 2024-07-03 985M USD Trade Sale
Toronto, Ontario · www.lifelabs.com
NET4GAS s.r.o. 2023-09-29 - Stake Sale
Nusle, Czech Republic · www.net4gas.cz
Kenter B.V. 2023-07-03 - Divestiture
Duiven, Netherlands · www.kenter.nu
CannAmm LP 2023-01-01 - Unknown
Edmonton, Alberta · www.cannamm.com
DynaLIFE 2023-01-01 - Trade Sale
Edmonton, Alberta · www.dynalife.ca
Skyway Concession Company LLC 2022-09-12 - Trade Sale
Chicago, Illinois · www.chicagoskyway.org
Waveconn Group Holdings Management Pty Ltd. 2022-08-15 - Growth Capital
Sydney, Australia · www.waveconn.com
Midland Cogeneration Venture LP 2022-07-12 - Trade Sale
Midland, Michigan
VTG AG 2022-06-29 - Stake Sale
Hamburg, Germany · www.vtg.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Beanfield Technologies, Inc. 2019-11-12 Wesley Clover’s Eclipse Trading Turret Solutions 2022-06-07 5
Toronto, Ontario · www.beanfield.com New York, New York
Leeward Renewable Energy LLC 2018-03-22 First Solar, Inc. - Solar Development Platform 2021-01-25 1
Dallas, Texas · www.leewardenergy.com Tempe, Arizona
Teranet, Inc. 2008-10-28 DoProcess LP 2020-12-10 1
Toronto, Ontario · www.teranet.ca Toronto, Ontario · www.doprocess.com
Deutsche Glasfaser Holding GmbH 2020-02-10 inexio Beteiligungs GmbH & Co. KGaA 2020-10-16 1
Borken, Germany · www.deutsche-glasfaser.de Saarlouis, Germany · www.inexio.net
Xp Fibre 2018-11-30 Covage 2019-11-25 1
Courbevoie, France · www.xpfibre.com Courbevoie, France · www.covage.com
Alectra Utilities Corp. 2004-01-01 EnerSource Corp. 2017-01-01 1
Hamilton, Ontario · www.alectrautilities.com Mississauga, Ontario · www.enersource.com

M&A by Sector

Sector Current # Value All-time # Value
Utilities 7 (21%) - 9 (17%) 2.9B (59%)
Energy Services and Equipment 5 (15%) - 9 (17%) -
Infrastructure 4 (12%) - 7 (13%) -
Renewable Energy 5 (15%) - 5 (9%) -
Transportation 3 (9%) - 5 (9%) -
Communications 3 (9%) 2.0B (100%) 4 (7%) 2.0B (41%)
Life Science 1 (3%) - 4 (7%) 1M (< 1%)
Healthcare Services - - 2 (4%) -
Airlines - - 1 (2%) -
Business Services 1 (3%) - 1 (2%) -
Education - - 1 (2%) -
Electrical Equipment 1 (3%) - 1 (2%) -
Internet Software and Services 1 (3%) - 1 (2%) -
Marine 1 (3%) - 1 (2%) -
Media 1 (3%) - 1 (2%) -
Oil/Gas Exploration - - 1 (2%) -
Real Estate 1 (3%) - 1 (2%) -
Total 34 $2.0B 54 $4.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 5 (15%) - 15 (28%) 1M (< 1%)
  Ontario 5 (15%) - 11 (20%) 1M (< 1%)
  Alberta - - 2 (4%) -
  Nova Scotia - - 1 (2%) -
United States 8 (24%) - 13 (24%) -
  Washington 2 (6%) - 2 (4%) -
  Texas 2 (6%) - 2 (4%) -
  Illinois - - 2 (4%) -
  Michigan - - 2 (4%) -
  Massachusetts 1 (3%) - 1 (2%) -
  Oklahoma 1 (3%) - 1 (2%) -
  North Carolina 1 (3%) - 1 (2%) -
  New Jersey 1 (3%) - 1 (2%) -
  Florida - - 1 (2%) -
United Kingdom 4 (12%) - 5 (9%) -
Germany 4 (12%) - 5 (9%) -
Australia 3 (9%) - 3 (6%) -
Spain 2 (6%) - 2 (4%) -
India 2 (6%) - 2 (4%) -
Netherlands 2 (6%) - 2 (4%) -
Finland 1 (3%) - 2 (4%) 2.9B (59%)
France 1 (3%) 2.0B (100%) 1 (2%) 2.0B (41%)
Italy 1 (3%) - 1 (2%) -
Sweden 1 (3%) - 1 (2%) -
Chile - - 1 (2%) -
Czech Republic - - 1 (2%) -
Domestic 5 (15%) - 15 (28%) 1M (< 1%)
Cross-border 29 (85%) 2.0B (100%) 39 (72%) 4.9B (100%)
Total 34 $2.0B 54 $4.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 8 (24%) - 24 (44%) 2.9B (59%)
Secondary Buyout 10 (29%) - 11 (20%) -
Stake Purchase 8 (24%) - 10 (19%) -
Divestiture 4 (12%) 2.0B (100%) 4 (7%) 2.0B (41%)
Growth Capital 3 (9%) - 4 (7%) -
Consolidation 1 (3%) - 1 (2%) -
Total 34 $2.0B 54 $4.9B

Exits by Deal Type

Type Total # Value
Trade Sale 7 (39%) -
Secondary Sale 3 (17%) -
Stake Sale 3 (17%) -
Trade Sale - Public Company 2 (11%) 1.3B (100%)
Merger 2 (11%) -
Unknown 1 (6%) -
Total 18 $1.3B

Top M&A Advisors

Financial Deals
Daiwa Corporate Advisory Ltd. (DC Advisory)
 1
BNP Paribas Corporate and Investment Banking
 1
CohnReznick LLP
 1
Legal Deals
Shearman & Sterling
 2
Blake, Cassels & Graydon
 1
Clifford Chance
 1

Deal Values

buy # Total
> $1B 2 $4.9B
< $100M 1 $1M
TOTAL $4.9B
Largest Caruna
$2.9B (2014-03-24)
sell # Total
$100M to $1B 2 $1.3B
TOTAL $1.3B
Largest LifeLabs, Inc.
$985M (2024-07-03)

M&A Connections

Deals
Acquired from
Investor(s)
26%
14 (26%)
Strategic(s)
9%
5 (9%)
Exited to
Investor(s)
28%
5 (28%)
Strategic(s)
67%
12 (67%)

Investor Summary

Investor Type

Infrastructure

Size

Mega

PE Assets

36.0B CAD

Established

1990

Specialist/Generalist

Specialist

Leadership

Michael Hill

Global Head of Infrastructure & Executive Vice President

Steven Zucchet

Managing Director, Asset Management

Orla Ralston

Managing Director, Investment Tax

Alastair Hall

Senior Managing Director

Christopher Curtain

Senior Managing Director

FAQ

When was OMERS Infrastructure founded?

OMERS Infrastructure was founded in 1990.

What type of investor is OMERS Infrastructure?

OMERS Infrastructure is an infrastructure investor.

Where is OMERS Infrastructure headquartered?

OMERS Infrastructure is headquartered in Toronto, Ontario.

How much capital does OMERS Infrastructure have under management?

OMERS Infrastructure has 36.0B CAD under management.

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