M&A Deal Summary

Ontario Teachers Pension Plan Acquires Vantage Elevator Solutions

On October 13, 2021, pension Ontario Teachers Pension Plan acquired manufacturer Vantage Elevator Solutions from Golden Gate Capital

Acquisition Highlights
  • This is Ontario Teachers Pension Plan’s 4th transaction in the Manufacturing sector.
  • This is Ontario Teachers Pension Plan’s 69th transaction in the United States.
  • This is Ontario Teachers Pension Plan’s 4th transaction in New York.

M&A Deal Summary
Date 2021-10-13
Target Vantage Elevator Solutions
Sector Manufacturing
Buyer(s) Ontario Teachers Pension Plan
Sellers(s) Golden Gate Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co.
Robert W. Baird & Co., Inc. (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison
Nob Hill Law Group (Legal)

Target

Vantage Elevator Solutions

Bronx, New York, United States
website
Vantage Elevator Solutions is an independent manufacturer of elevator components and systems for new equipment applications, equipment upgrade projects, and service replacement parts. Vantage is comprised of eight business units including GAL Manufacturing Company and GAL Canada; Hollister-Whitney Elevator Corporation; Elevator Controls Corporation; Courion; Bore-Max; Thames Valley Controls; and Vertical Dimensions. Through its brands, Vantage supplies almost all electro-mechanical devices used in contemporary elevators. Vantage Elevator Solutions sells its products to a diverse range of customers including hundreds of independent elevator contractors, in addition to several well-known multi-national elevator companies. Vantage Elevator Solutions was founded in 1927 and is based in Bronx, New York.

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Buyer(S) 1

Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website

Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.

DEAL STATS #
Overall 161 of 175
Sector (Manufacturing) 4 of 4
Type (Secondary Buyout) 52 of 56
State (New York) 4 of 5
Country (United States) 69 of 73
Year (2021) 14 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 Washington Analysis

Washington, District of Columbia, United States

Washington Analysis is an independent institutional research firm specializing in identifying risks and opportunities across asset-classes emanating from courts, Congress, and regulators, at both the state and federal levels. The company strives to be predictive in separating headline risk from fundamental changes that have a more pervasive and lasting investment impact. It also keeps an eye towards identifying the non-consensus view and looks to correct widely held misperceptions whenever possible. Washington Analysis was formed in 1973 and is based in Washington DC.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-21 FTX

Saint John's, Antigua and Barbuda

FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens, and an OTC desk. FTX is based in Saint John's, Antigua.

Buy -

Seller(S) 1

SELLER

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.

DEAL STATS #
Overall 78 of 79
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 18 of 18
State (New York) 4 of 4
Country (United States) 70 of 71
Year (2021) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 NeuStar

Reston, Virginia, United States

NeuStar is a global information services provider driving the connected world forward with trusted, holistic identity resolution. The company serves many of the world’s brands to grow and guard their businesses with the most complete understanding of how to connect people, places, and things. The combination of Neustar’s unique, accurate and real-time identity system and its cloud-based workflow solutions empower businesses to make actionable, precise, and valuable decisions across marketing, risk, IT/security, network & operations departments. As the current sole provider to the U.S. Number Portability Administration Center, Neustar also facilitates the routing of all telephone call and text messages in the U.S. NeuStar was formed in 1996 and is based in Sterling, Virginia.

Sell $3.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 All My Sons

Carrollton, Texas, United States

All My Sons offers full-service moving for customers and businesses locally and across state lines. First-rate services include, in addition to moving, quilt-pad wrapping of furniture and disassembly and reassembly of the same, packing, and unpacking. All My Sons Moving & Storage was formed in 1989 and is based in Carrollton, Texas.

Buy -
Mergr

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Company

Legal