M&A Deal Summary

Brookfield Acquires Triton International

On April 12, 2023, Brookfield acquired transportation company Triton International from HarbourVest Partners, Vestar Capital Partners and Warburg Pincus for 13.3B USD

Acquisition Highlights
  • This is Brookfield’s 1st transaction in the Transportation sector.
  • This is Brookfield’s largest (disclosed) transaction.
  • This is Brookfield’s 1st transaction in Bermuda.

M&A Deal Summary

Date 2023-04-12
Target Triton International
Sector Transportation
Buyer(s) Brookfield
Sellers(s) HarbourVest Partners
Vestar Capital Partners
Warburg Pincus
Deal Type Add-on Acquisition
Deal Value 13.3B USD
Advisor(s) Goldman Sachs (Financial)
Sullivan & Cromwell (Legal)

Target

Triton International

Hamilton, Bermuda
website
Triton International engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. Triton International was founded in 1980 and is based in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Brookfield

Hamilton, Bermuda

website


Category Company
Founded 2007
Sector Utilities
Revenue 8.9B USD (2020)
DESCRIPTION

Brookfield operates long life, high quality infrastructure assets with high barriers to entry and low maintenance capital requirements that generate stable and growing cash flows. Brookfield was founded in 2007 and is based in Toronto, Canada.


DEAL STATS #
Overall 6 of 7
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Bermuda) 1 of 1
Year (2023) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 Inter Pipeline

Calgary, Alberta, Canada

Inter Pipeline is a major petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline is a publicly traded corporation that owns and operates a diversified combination of energy infrastructure assets in western Canada and northern Europe. Inter Pipeline was founded in 1997 and is based in Calgary, Canada.

Buy CA$4.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Compass Datacenters

Dallas, Texas, United States

Compass Datacenters is a data center developer. Compass Datacenters provides enterprises, service providers, and hyperscale customers with solutions that reflect a dramatic change from conventional alternatives like wholesale colocation or traditional construction build-to-suits. Compass Datacenters was established in 2011 and is based in Dallas, Texas.

Buy -

Seller(S) 3

SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 121 of 126
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 52 of 55
Country (Bermuda) 1 of 1
Year (2023) 1 of 5
Size (of disclosed) 1 of 38
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-29 Lucid

New Orleans, Louisiana, United States

Lucid is a research technology (ResTech) platform that delivers programmatic access to first-party survey data. This data can be used to build business strategies, measure the impact of digital advertising, publish research, and more. Lucid was founded in 2010 and is based in New Orleans, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-30 Elatec

Puchheim, Germany

Elatec is a provider in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. Elatec modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. Elatec was founded in 1988 and is based in Puchheim, Germany.

Sell -
SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 63 of 64
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 26 of 27
Country (Bermuda) 3 of 3
Year (2023) 1 of 2
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Nox Health

Alpharetta, Georgia, United States

Nox Health is a global sleep health company that improves the health of populations through better sleep. Nox provides a range of solutions from comprehensive sleep diagnostic technology for providers to value-based comprehensive sleep management programs for self-insured employers and payers. Nox Health was formed in 2007 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 Don

Woodridge, Illinois, United States

Don is a distributor of food service equipment and supplies to all types of food service businesses including independent restaurants, national chains, health care, hospitality, country clubs, schools and universities, government institutions, and food service management. Don was formed in 1921 and is based in Woodridge, Illinois.

Sell -
SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 244 of 249
Sector (Transportation) 8 of 9
Type (Add-on Acquisition) 86 of 90
Country (Bermuda) 2 of 2
Year (2023) 3 of 7
Size (of disclosed) 1 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Polyplus

Illkirch, France

Polyplus is a biotechnology company that supports Gene and Cell therapy, biologics manufacturing, and life science research with innovative nucleic acid transfection solutions. Polyplus was founded in 2001 and is based in Illkirch, France.

Sell €2.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-08 Simtra BioPharma Solutions

Deerfield, Illinois, United States

Simtra BioPharma Solutions partners with pharmaceutical companies to support their commercialization objectives by providing scientific expertise, sterile contract manufacturing solutions, parenteral delivery systems, and customized support services needed to meet the unique challenges that parenteral products face. Simtra BioPharma Solutions is based in Deerfield, Illinois.

Buy $4.3B