Birch Hill Equity Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Birch Hill Equity Partners has acquired 3 companies. It has also invested in 2 others.

Birch Hill Equity Partners’ most common sectors for investment are business services (10%) and retail (8%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (52%) and growth capital (15%). In total, Birch Hill Equity Partners has invested in 4 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired Softchoice for $412M.

In the last 3 years, Birch Hill Equity Partners has exited 3 companies. The Firm’s most common exit type is trade sale (47%). Birch Hill Equity Partners’ largest (disclosed) exit occurred in 2007 when it sold Holiday Retirement for $6.9B.

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M&A Summary

  • M&A Total Activity72
    • M&A Buy Activity40
    • M&A Sell Activity32
  • Total Sectors Invested 24
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 32
  • M&A Advisors 5

Birch Hill Equity Partners

100 Wellington Street West, CP Tower, Suite 2300,
Toronto, Ontario M5K 1A1
Canada,
(416)775-3800
www.birchhillequity.com
info@birchhillequity.com

Birch Hill Equity Partners Management, Inc. is a middle-market private equity firm focused on investments in Canadian companies. Birch Hill targets growth oriented businesses valued between C$30 and C$600 million. Sectors of interest include agriculture, communications, energy, environmental, entertainment, distribution, healthcare, manufacturing, software, and technology. Birch Hill will not consider investments in real estate, pure commodity companies or start ups. Birch Hill Equity Partners Management, Inc. was formed in 1994 and is based in Toronto, Canada.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Automotive, Beverages, Business Services, Communications, Consumer Services, Distribution, Education, Electrical Equipment, Energy Services and Equipment, Environmental, Food, Forest Products, Healthcare Services, Information Technology, Infrastructure, Leisure, Life Science, Machinery, Manufacturing, Marine, Media, Oil/Gas Exploration, Renewable Energy, Retail, Software, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 30 600
values in millions of CAD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.0/yr) # 35 1 1 1 2 - 40
vol $1.5B $1.5B
Sell (1.4/yr) # 25 4 - - 3 - 32
vol $11.6B $47M $119M $11.7B
  72

Most Recent M&A

Company Date Value Type
Uni-Select, Inc. 2019-12-18 - Stake Purchase
Boucherville, Quebec · www.uniselect.com
Marsulex Environmental Technologies Corp. 2019-12-03 - Add-on Acquisition
Lebanon, Pennsylvania · www.met.net
Creation Technologies LP 2019-07-17 - Secondary Buyout
Burnaby, British Columbia · www.creationtech.com
Sigma Systems Canada LP 2019-05-01 119M CAD Add-on Acquisition
Toronto, Ontario · www.sigma-systems.com
Campus Energy Partners LP 2019-02-01 - Buyout (LBO, MBO, MBI)
Calgary, Alberta · www.campusenergy.ca
Tidewater Midstream and Infrastructure Ltd. 2018-09-10 - Stake Purchase
Calgary, Alberta · www.tidewatermidstream.com
Cozzini Bros, Inc. 2017-03-10 - Recapitalization
Des Plaines, Illinois · www.cozzinibros.com
Carson-Dellosa Publishing LLC 2016-07-26 - Secondary Buyout
Greensboro, North Carolina · www.carsondellosa.com
TSC Stores L.P. 2016-07-01 - Add-on Acquisition
London, Ontario · www.tscstores.com
Secunda Canada LP 2016-05-18 - Add-on Acquisition
St. John's, Newfoundland · www.secunda.ca
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
GDI Integrated Facility Services 2012-01-03 ESC Automation, Inc. 2019-11-28 1
Lasalle, Quebec · www.gdi.com Surrey, British Columbia · www.escautomation.com
Campus Energy Partners LP 2019-02-01 AltaGas Ltd. - Energy Infrastructure and Supply Assets 2019-02-01 1
Calgary, Alberta · www.campusenergy.ca Calgary, Alberta
Citron Hygiene 2016-04-15 Chemsyn Chemical Corp. 2017-07-18 1
Markham, Ontario · www.citronhygiene.com Concord, Ontario · www.chemsynchemical.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 2 (14%) 116M (20%) 4 (10%) 116M (8%)
Retail 1 (7%) - 3 (8%) 356M (24%)
Software - - 3 (8%) 60M (4%)
Information Technology 1 (7%) 412M (71%) 2 (5%) 773M (52%)
Communications 1 (7%) - 2 (5%) -
Distribution 1 (7%) - 2 (5%) -
Food - - 2 (5%) -
Leisure - - 2 (5%) -
Manufacturing - - 2 (5%) -
Media - - 2 (5%) -
Oil/Gas Exploration 1 (7%) - 2 (5%) -
Renewable Energy - - 2 (5%) -
Education - - 1 (3%) 144M (10%)
Medical Products 1 (7%) 50M (9%) 1 (3%) 50M (3%)
Apparel/Textiles - - 1 (3%) -
Beverages - - 1 (3%) -
Chemicals 1 (7%) - 1 (3%) -
Consumer Services 1 (7%) - 1 (3%) -
Energy Services and Equipment 1 (7%) - 1 (3%) -
Environmental 1 (7%) - 1 (3%) -
Financial Services 1 (7%) - 1 (3%) -
Life Science 1 (7%) - 1 (3%) -
Machinery - - 1 (3%) -
Transportation - - 1 (3%) -
Total 14 $578M 40 $1.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 13 (87%) 578M (100%) 36 (88%) 1.5B (100%)
  Ontario 8 (53%) 462M (80%) 22 (54%) 1.4B (92%)
  Quebec 3 (20%) 116M (20%) 4 (10%) 116M (8%)
  Alberta 2 (13%) - 4 (10%) -
  Nova Scotia - - 2 (5%) -
  British Columbia - - 2 (5%) -
  Newfoundland - - 1 (2%) -
  Manitoba - - 1 (2%) -
United States 1 (7%) - 4 (10%) -
  Illinois 1 (7%) - 1 (2%) -
  South Carolina - - 1 (2%) -
  Pennsylvania - - 1 (2%) -
  Oregon - - 1 (2%) -
United Kingdom 1 (7%) - 1 (2%) -
Domestic 13 (87%) 578M (100%) 36 (88%) 1.5B (100%)
Cross-border 2 (13%) - 5 (12%) -
Total 15 $578M 41 $1.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (33%) - 21 (51%) 560M (37%)
Growth Capital 1 (7%) - 6 (15%) -
Going Private 3 (20%) 528M (91%) 5 (12%) 889M (59%)
Divestiture 3 (20%) 50M (9%) 5 (12%) 50M (3%)
Stake Purchase 2 (13%) - 2 (5%) -
PIPE - - 1 (2%) -
Recapitalization 1 (7%) - 1 (2%) -
Total 15 $578M 41 $1.5B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (34%) 3.7B (31%)
Trade Sale 11 (34%) 319M (3%)
Secondary Sale 6 (19%) 7.7B (66%)
IPO 3 (9%) -
Stake Sale 1 (3%) -
Total 32 $11.7B

Top M&A Advisors

Financial Deals
Lincoln International
3
TD Securities
1
National Bank Financial
1
Legal Deals
Stikeman Elliott LLP
1
Davies Ward Phillips & Vineberg LLP
1

Deal Values

buy # Total
$100M to $1B 5 $1.4B
< $100M 2 $110M
TOTAL $1.5B
Largest Softchoice Corp.
$412M (2013-04-22)
sell # Total
> $1B 2 $9.2B
$100M to $1B 6 $2.4B
< $100M 3 $135M
TOTAL $11.7B
Largest Holiday Retirement Corp.
$6.9B (2007-02-01)

M&A Connections

Deals %
Acquired from
PE Firm(s)
25%
2 25%
Strategic(s)
75%
6 75%
Exited to
PE Firm(s)
38%
10 38%
Strategic(s)
62%
16 62%