M&A Deal Summary

British Columbia Investment Management Acquires Hayfin

On January 31, 2017, asset manager British Columbia Investment Management acquired business services company Hayfin from TowerBrook Capital Partners and OMERS Private Equity

Acquisition Highlights
  • This is British Columbia Investment Management’s 1st transaction in the Business Services sector.
  • This is British Columbia Investment Management’s 1st transaction in the United Kingdom.
Investment Fate
  • Hayfin was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2017-01-31
Target Hayfin
Sector Business Services
Buyer(s) British Columbia Investment Management
Sellers(s) TowerBrook Capital Partners
OMERS Private Equity
Deal Type Secondary Buyout

Target

Hayfin

London, United Kingdom
Hayfinis an independent investment firm that offers lending solutions to European middle-market companies and asset management services to institutional clients. Hayfinis was formed in 2009 and is based in London.

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Buyer(S) 1

Buyer
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 4 of 19
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 2 of 9
Country (United Kingdom) 1 of 5
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-26 Pilot Freight Services

Glen Mills, Pennsylvania, United States

Pilot Freight Services is a transportation and logistics provider with over 75 locations throughout North America and Western Europe. The company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, e-commerce, and home delivery solutions, product warehousing, and inventory management. Pilot Freight Services was founded in 1970 and is based in Glen Mills, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-25 Refresco Gerber

Rotterdam, Netherlands

Refresco Gerber is a soft-drink company provides fruit juice and soft drinks for retail private labels and ‘in contract’ manufacturing for international A-brands. Refresco Gerber was founded in 1999 and is based in Rotterdam, Netherlands.

Buy €2M

Seller(S) 2

SELLER

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 30 of 45
Sector (Business Services) 2 of 4
Type (Secondary Buyout) 7 of 10
Country (United Kingdom) 7 of 9
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-20 The Learning Network

Kampen, Netherlands

The Learning Network (TLN) is a provider of value-added content and services to schools and higher education institutions in the Netherlands. The company sells, leases and distributes educational materials (both physical books and digital content) to over 780 educational institutions and 1.3 million students in the Benelux region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-08 J.Jill

Quincy, Massachusetts, United States

J.Jill is a multi-channel retailer of woman’s apparel. Emphasizing a sophisticated casual lifestyle, J. Jill offers its merchandise through 205 stores across the United States, a website, and catalogs. was founded in 1959 and is headquartered in Quincy, Massachusetts.

Sell -
SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.


DEAL STATS #
Overall 21 of 29
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 8 of 15
Country (United Kingdom) 2 of 5
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 V.Group

London, United Kingdom

V.Group provides mission-critical services to its customers, such as technical ship management, crew management, crew welfare services (e.g. catering, travel, and digital wallets & payment cards), leveraged procurement, technical services, specialist insurance broking, and modern shipping-specific digital solutions. V.Group was founded in 1984 and is headquartered in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 Inmar

Winston-Salem, North Carolina, United States

Inmar operates intelligent commerce networks, connecting offline and online transactions in real time for retailers, manufacturers and trading partners across multiple industries. In addition, Inmar’s platforms generate meaningful data and enable the Company to provide clients with actionable analytics and insights to meet the evolving needs of shoppers, patients and businesses. Inmar was founded in 1980 and is based in Winston-Salem, North Carolina

Buy -