M&A Deal Summary

Element Acquires Alter Moneta

On August 3, 2011, Element acquired financial services company Alter Moneta from Irving Place Capital

Acquisition Highlights
  • This is Element’s 1st transaction in the Financial Services sector.
  • This is Element’s 1st transaction in Canada.
  • This is Element’s 1st transaction in Quebec.

M&A Deal Summary
Date 2011-08-03
Target Alter Moneta
Sector Financial Services
Buyer(s) Element
Sellers(s) Irving Place Capital
Deal Type Add-on Acquisition

Target

Alter Moneta

Longueuil, Quebec, Canada
Alter Moneta was established in 1998 as a de novo asset-based equipment finance company with the backing of Caisse de depot et placement du Quebec. Alter Moneta provides collateralized lending, financing and leasing services to middle-market businesses in the trucking and warehousing, construction, manufacturing, and services industries. The Company lends against and finances a wide range of new and used revenue-producing, essential-use equipment including cranes, trailers, and trucks.

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Buyer(S) 1

Buyer

Element

Toronto, Ontario, Canada
Category Company
Founded 2007
Sector Financial Services
Employees2,700
Revenue 2.6B CAD (2023)
DESCRIPTION

Element is a provider of equipment finance companies. Element operates across North America in four verticals of the equipment finance market – Commercial & Vendor Finance, Aviation Finance, Railcar Finance and Fleet Management. Element was founded in 2007 and is based in Toronto, Canada.

DEAL STATS #
Overall 1 of 4
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2011) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-09 CoActiv Capital Partners

Horsham, Pennsylvania, United States

CoActiv Capital Partners LLC, a Vendor finance leasing program to the medical equipment and office technology manufacturers,Outsourcing small ticket leasing services to U.S. banks.

Buy $300M

Seller(S) 1

SELLER

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.

DEAL STATS #
Overall 21 of 39
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 12 of 17
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2011) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-28 InterXion

Hoofddorp, Netherlands

InterXion Holding N.V. is a provider of carrier and cloud-neutral colocation data center services in Europe, serving a wide range of customers through 52 data centers in 11 European countries. Interxion’s uniformly designed, energy-efficient data centers offer customers extensive security and uptime for their mission-critical applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 CamelBak Products

Petaluma, California, United States

CamelBak Products LLC is a provider of personal hydration solutions for outdoor, recreation and military use. The company's products include hydration packs, reusable bottles and individual purification and filtration systems.

Sell $258M
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