Alberta Investment Management Mergers and Acquisitions Summary

Pension Profile

In the last 3 years, Alberta Investment Management has acquired 5 companies. It has also invested in 3 others.

Alberta Investment Management’s most common sectors for investment areinternet software and services (14%) and software (10%) . The Firm’s most common investment types include secondary buyout (40%) and divestiture (17%). In total, Alberta Investment Management has invested in 11 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Proofpoint for $12.3B.

In the last 3 years, Alberta Investment Management has exited 6 companies. The Firm’s most common exit type is secondary buyout (43%).

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M&A Summary

  • M&A Total Activity36
    • M&A Buy Activity29
    • M&A Sell Activity7
  • Total Sectors Invested 19
  • Total Countries Invested 9
  • M&A Buy/Sell Connections 22
  • M&A Advisors 10

Alberta Investment Management Corporation (AIMCo)

10250 101 Street NW Suite 1600,
Edmonton, Alberta T5J 3P4
Canada
(780) 392-3600
www.aimco.alberta.ca

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


Investment Criteria

Sectors of Interest: Business Services, Chemicals, Consumer Services, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Infrastructure, Machinery, Manufacturing, Real Estate

Target Transaction Types: Buyout (LBO, MBO, MBI), Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.0/yr) # 19 3 6 1 - - 29
vol $5.3B $10.2B $19.7B $35.2B
Sell (1.4/yr) # - 1 5 1 - - 7
  36

Most Recent M&A

Company Date Value Type
Howard Midstream Energy Partners LLC 2022-11-08 - Secondary Sale
San Antonio, Texas · www.howardenergypartners.com
Cando Rail & Terminals Ltd. 2022-07-20 - Secondary Buyout
Brandon, Manitoba · www.candorail.com
Eolia Renovables de Inversiones, S.C.R., S.A. 2021-11-11 - Trade Sale
Madrid, Spain · www.eolia.com
West Monroe Partners LLC 2021-11-10 - Stake Purchase
Chicago, Illinois · www.westmonroe.com
Washington Analysis LLC 2021-10-01 - Trade Sale
Washington, District of Columbia · www.washingtonanalysis.com
Medallia, Inc. 2021-07-26 6.4B USD Add-on Acquisition
Pleasanton, California · www.medallia.com
ERM Group, Inc. 2021-05-17 - Secondary Sale
London, United Kingdom · www.erm.com
Proofpoint, Inc. 2021-04-26 12.3B USD Going Private
Sunnyvale, California · www.proofpoint.com
Iguá Saneamento S.A. 2021-03-22 - Stake Purchase
Sao Paulo, Brazil · www.igua.com.br
Glass, Lewis & Co. 2021-03-16 - Secondary Sale
San Francisco, California · www.glasslewis.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Visma Oy 2017-06-29 MobileXpense NV/SA 2024-11-28 44
Oslo, Norway · www.visma.com Brussels, Belgium · www.mobilexpense.com
Azuria Corp. 2021-02-16 Miller Pipeline - Municipal Services Division 2024-11-06 17
St. Louis, Missouri · www.azuria.com Indianapolis, Indiana
Granicus, Inc. 2016-08-18 SmartGov 2024-02-01 11
Denver, Colorado · www.granicus.com Cary, North Carolina
PCI Pharma Services 2020-08-24 Bellwyck Packaging Solutions Ltd. 2024-01-29 1
Philadelphia, Pennsylvania · www.pci.com Toronto, Ontario · www.bellwyck.com
Azuria Corp. 2021-02-16 Aegion Coating Services 2024-01-04 2
St. Louis, Missouri · www.azuria.com Tulsa, Oklahoma · www.acscoatingservices.com
Azuria Corp. 2021-02-16 Culy Contracting, Inc. 2023-12-13 16
St. Louis, Missouri · www.azuria.com Winchester, Indiana · www.culycontracting.com
Visma Oy 2017-06-29 Silverfin 2023-09-25 43
Oslo, Norway · www.visma.com Gent, Belgium · www.silverfin.com
Granicus, Inc. 2016-08-18 Rock Solid Technologies, Inc. 2022-10-12 10
Denver, Colorado · www.granicus.com San Juan, Puerto Rico · www.rocksolid.com
RealPage, Inc. 2020-12-21 Kigo, Inc. 2022-09-28 1
Richardson, Texas · www.realpage.com Philadelphia, Pennsylvania · www.kigo.net
Medallia, Inc. 2021-07-26 Mindful 2022-07-11 4
Pleasanton, California · www.medallia.com Akron, Ohio · www.getmindful.com

M&A by Sector

Sector Current # Value All-time # Value
Internet Software and Services 4 (17%) 18.7B (59%) 4 (13%) 18.7B (53%)
Software 3 (13%) 10.2B (32%) 3 (10%) 10.2B (29%)
Insurance 2 (9%) 1.8B (6%) 2 (7%) 1.8B (5%)
Environmental 1 (4%) - 2 (7%) 1.7B (5%)
Renewable Energy - - 2 (7%) 1.6B (4%)
Oil/Gas Exploration 1 (4%) - 2 (7%) 221M (1%)
Business Services 1 (4%) - 2 (7%) 46M (< 1%)
Life Science 2 (9%) - 2 (7%) -
Engineering 1 (4%) 963M (3%) 1 (3%) 963M (3%)
Automotive 1 (4%) - 1 (3%) -
Consumer Services 1 (4%) - 1 (3%) -
Energy Services and Equipment 1 (4%) - 1 (3%) -
Information Technology 1 (4%) - 1 (3%) -
Infrastructure 1 (4%) - 1 (3%) -
Machinery - - 1 (3%) -
Metals/Mining - - 1 (3%) -
Plastics 1 (4%) - 1 (3%) -
Real Estate 1 (4%) - 1 (3%) -
Retail 1 (4%) - 1 (3%) -
Total 23 $31.7B 30 $35.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (48%) 29.9B (94%) 15 (50%) 31.7B (90%)
  California 2 (9%) 18.7B (59%) 3 (10%) 18.7B (53%)
  Texas 2 (9%) 10.2B (32%) 3 (10%) 10.4B (30%)
  Missouri 1 (4%) 963M (3%) 1 (3%) 963M (3%)
  Tennessee 1 (4%) - 1 (3%) -
  Pennsylvania 1 (4%) - 1 (3%) -
  Minnesota 1 (4%) - 1 (3%) -
  Illinois 1 (4%) - 1 (3%) -
  Georgia 1 (4%) - 1 (3%) -
  Colorado 1 (4%) - 1 (3%) -
  Utah - - 1 (3%) 1.6B (4%)
  North Carolina - - 1 (3%) -
Canada 4 (17%) - 5 (17%) -
  Alberta 1 (4%) - 2 (7%) -
  Ontario 1 (4%) - 1 (3%) -
  Manitoba 1 (4%) - 1 (3%) -
  British Columbia 1 (4%) - 1 (3%) -
United Kingdom 3 (13%) - 4 (13%) 1.7B (5%)
Bermuda 1 (4%) 1.8B (6%) 1 (3%) 1.8B (5%)
Germany 1 (4%) - 1 (3%) -
Brazil 1 (4%) - 1 (3%) -
Norway 1 (4%) - 1 (3%) -
Sweden 1 (4%) - 1 (3%) -
Spain - - 1 (3%) -
Total 23 $31.7B 30 $35.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 10 (43%) - 12 (40%) 1.7B (5%)
Divestiture 3 (13%) 1.8B (6%) 5 (17%) 2.1B (6%)
Stake Purchase 4 (17%) - 4 (13%) -
Going Private 3 (13%) 23.5B (74%) 3 (10%) 23.5B (67%)
Add-on Acquisition 2 (9%) 6.4B (20%) 3 (10%) 8.0B (23%)
Buyout (LBO, MBO, MBI) 1 (4%) - 2 (7%) -
Growth Capital - - 1 (3%) -
Total 23 $31.7B 30 $35.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 3 (43%) -
IPO 1 (14%) -
Merger 1 (14%) -
Trade Sale 1 (14%) -
Trade Sale - Public Company 1 (14%) -
Total 7 -

Top M&A Advisors

Financial Deals
RBC Capital Markets
 2
Cantor Fitzgerald
 1
Houlihan Lokey
 1
Legal Deals
Torys
 2
Allen Overy Shearman Sterling (A&O Shearman)
 1
Stikeman Elliott
 1

Deal Values

buy # Total
> $1B 6 $34.0B
$100M to $1B 2 $1.2B
< $100M 1 $46M
TOTAL $35.2B
Largest Proofpoint, Inc.
$12.3B (2021-04-26)

M&A Connections

Deals
Acquired from
Investor(s)
47%
14 (47%)
Strategic(s)
20%
6 (20%)
Exited to
Investor(s)
43%
3 (43%)
Strategic(s)
43%
3 (43%)

Investor Summary

Investor Type

Pension

Size

Mega

PE Assets

4.5B CAD

Established

2008

Specialist/Generalist

Generalist

Leadership

Justin Lord

Senior Executive Managing Director & Global Head of Public Markets

David Scudellari

Senior Executive Managing Director, Global Head of Private Assets & Strategic Partnerships

Ben Hawkins

Executive Managing Director & Global Head of Infrastructure, Renewable Resources and Energy Transition

Peter Teti

Executive Managing Director & Global Head of Private Equity

Jason Chang

Executive Managing Director & Head of Fixed Income

FAQ

When was Alberta Investment Management Corporation (AIMCo) founded?

Alberta Investment Management Corporation (AIMCo) was founded in 2008.

What type of investor is Alberta Investment Management Corporation (AIMCo)?

Alberta Investment Management Corporation (AIMCo) is a pension.

Where is Alberta Investment Management Corporation (AIMCo) headquartered?

Alberta Investment Management Corporation (AIMCo) is headquartered in Edmonton, Alberta.

How much capital does Alberta Investment Management Corporation (AIMCo) have under management?

Alberta Investment Management Corporation (AIMCo) has 4.5B CAD under management.

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