CPP Investments Mergers and Acquisitions Summary

Pension Profile

In the last 3 years, CPP Investments has acquired 12 companies. It has also invested in 4 others.

CPP Investments’ most common sectors for investment areeducation (8%) and retail (8%) . The Firm’s most common investment types include secondary buyout (22%) and going private (20%). In total, CPP Investments has invested in 14 US states and 15 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired Refinitiv for $20.0B.

In the last 3 years, CPP Investments has exited 7 companies. The Firm’s most common exit type is trade sale (47%). CPP Investments’ largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B.

Join Mergr to view CPP Investments’ full profile and discover more mega-sized pension investors just like it.

M&A Summary

  • M&A Total Activity65
    • M&A Buy Activity50
    • M&A Sell Activity15
  • Total Sectors Invested 26
  • Total Countries Invested 15
  • M&A Buy/Sell Connections 42

CPP Investments

Canada Pension Plan Investment Board (CPP Investments)

One Queen Street East, Suite 2500,
Toronto, Ontario M5C 2W5
Canada
(416) 868-4075
www.cppinvestments.com/the-fund/our-investments/investment-private-equity/
contact@cppib.com

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Education, Energy Services and Equipment, Financial Services, Healthcare Services, Information Services, Information Technology, Insurance, Leisure, Manufacturing, Media, Packaging, Publishing, Restaurants, Retail, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 150 -
Enterprise Value - -
values in millions of CAD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.6/yr) # 32 3 6 4 2 3 50
vol $80.1B $14.0B $12.5B $26.5B $133.1B
Sell (1.6/yr) # 7 1 3 1 - 3 15
vol $41.7B $7.3B $19.2B $68.2B
  65

Most Recent M&A

Company Date Value Type
Nord Anglia Education, Inc. 2024-10-21 14.5B USD Secondary Sale
London, United Kingdom · www.nordangliaeducation.com
AirTrunk Operating Pty Ltd. 2024-09-04 17.1B AUD Secondary Buyout
North Sydney, Australia · www.airtrunk.com
Keywords Studios plc 2024-07-03 3.2B GBP Going Private
Dublin, Ireland · www.keywordsstudios.com
Allete, Inc. 2024-05-06 6.2B USD Going Private
Duluth, Minnesota · www.allete.com
Viking River Cruises, Inc. 2024-05-01 - IPO
Woodland Hills, California · www.vikingcruises.com
Dorna Sports SL 2024-04-01 4.7B EUR Trade Sale
Madrid, Spain · www.dorna.com
Power2X Services B.V. 2023-07-12 - Buyout (LBO, MBO, MBI)
Amsterdam, Netherlands · www.power2x.com
Qualtrics International, Inc. 2023-03-12 12.5B USD Going Private
Provo, Utah · www.qualtrics.com
Aera Energy LLC 2022-09-01 - Divestiture
Bakersfield, California · www.aeraenergy.com
D1 S.A.S. 2022-07-07 - Stake Purchase
Bogotá, Colombia · www.d1.com.co
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Wilton Re Holdings Ltd. 2014-03-21 ivari 2023-08-25 1
Norwalk, Connecticut · www.wiltonre.com Toronto, Ontario · www.ivari.ca
Berlin Packaging LLC 2021-11-18 Bark Packaging Group 2022-10-04 16
Chicago, Illinois · www.berlinpackaging.com Eerbeek, Netherlands · www.barkpackaginggroup.com
Berlin Packaging LLC 2021-11-18 Jansy Packaging LLC 2022-07-21 15
Chicago, Illinois · www.berlinpackaging.com Fort Lee, New Jersey · www.jansypkg.com
Galileo Global Education 2020-03-06 AKAD Bildungsgesellschaft mbH 2022-03-01 1
Paris, France · www.ggeedu.com Stuttgart, Germany · www.akad.de
Wilton Re Holdings Ltd. 2014-03-21 Allstate Life Insurance Company of New York 2021-03-29 2
Norwalk, Connecticut · www.wiltonre.com Northbrook, Illinois
Calpine Corp. 2017-08-18 Calpine Corp. - Two Contracted Power Plants 2019-04-11 1
Houston, Texas · www.calpine.com Houston, Texas
HBX Group 2016-04-28 GTA Travel 2017-04-21 2
Palma de Mallorca, Spain · www.hbxgroup.com Los Angeles, California · www.gta-travel.com
Wilton Re Holdings Ltd. 2014-03-21 Continental Assurance Company 2014-08-01 1
Norwalk, Connecticut · www.wiltonre.com Chicago, Illinois

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 3 (8%) 36.4B (39%) 4 (8%) 36.4B (25%)
Education 3 (8%) 14.5B (15%) 4 (8%) 18.8B (13%)
Utilities 4 (11%) 11.8B (12%) 4 (8%) 11.8B (8%)
Retail 2 (6%) - 4 (8%) 10.6B (7%)
Renewable Energy 3 (8%) 6.8B (7%) 3 (6%) 6.8B (5%)
Manufacturing 1 (3%) - 3 (6%) 6.1B (4%)
Real Estate 2 (6%) 1.7B (2%) 3 (6%) 1.7B (1%)
Information Services - - 2 (4%) 22.4B (15%)
Communications 1 (3%) - 2 (4%) 3.4B (2%)
Digital Media 1 (3%) 3.2B (3%) 2 (4%) 3.2B (2%)
Insurance 2 (6%) 2.9B (3%) 2 (4%) 2.9B (2%)
Energy Services and Equipment 2 (6%) - 2 (4%) -
Infrastructure 2 (6%) - 2 (4%) -
Marine 1 (3%) - 2 (4%) -
Internet Software and Services 1 (3%) 12.5B (13%) 1 (2%) 12.5B (8%)
Medical Products - - 1 (2%) 6.3B (4%)
Agriculture 1 (3%) 2.5B (3%) 1 (2%) 2.5B (2%)
Leisure 1 (3%) 1.3B (1%) 1 (2%) 1.3B (1%)
Oil/Gas Exploration 1 (3%) 900M (1%) 1 (2%) 900M (1%)
Apparel/Textiles 1 (3%) - 1 (2%) -
Environmental 1 (3%) - 1 (2%) -
Financial Services - - 1 (2%) -
Food 1 (3%) - 1 (2%) -
Life Science 1 (3%) - 1 (2%) -
Packaging 1 (3%) - 1 (2%) -
Transportation - - 1 (2%) -
Total 36 $94.5B 51 $147.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (50%) 54.3B (57%) 26 (51%) 97.3B (66%)
  California 5 (14%) 25.4B (27%) 7 (14%) 30.0B (20%)
  Texas 3 (8%) 6.8B (7%) 6 (12%) 20.2B (14%)
  Colorado 1 (3%) 900M (1%) 2 (4%) 5.9B (4%)
  Utah 1 (3%) 12.5B (13%) 1 (2%) 12.5B (8%)
  Minnesota 1 (3%) 6.2B (7%) 1 (2%) 6.2B (4%)
  Connecticut 1 (3%) 1.8B (2%) 1 (2%) 1.8B (1%)
  Florida 1 (3%) 689M (1%) 1 (2%) 689M (< 1%)
  Illinois 1 (3%) - 1 (2%) -
  Pennsylvania 1 (3%) - 1 (2%) -
  New Jersey 1 (3%) - 1 (2%) -
  Massachusetts 1 (3%) - 1 (2%) -
  Maryland 1 (3%) - 1 (2%) -
  New York - - 1 (2%) 20.0B (14%)
  Virginia - - 1 (2%) -
United Kingdom 3 (8%) 16.1B (17%) 6 (12%) 23.8B (16%)
France 2 (6%) - 2 (4%) -
Colombia 2 (6%) - 2 (4%) -
Mexico 2 (6%) - 2 (4%) -
Switzerland 1 (3%) 2.5B (3%) 2 (4%) 4.9B (3%)
Spain 1 (3%) 1.3B (1%) 2 (4%) 1.3B (1%)
India 1 (3%) - 2 (4%) -
Australia 1 (3%) 17.1B (18%) 1 (2%) 17.1B (12%)
Ireland 1 (3%) 3.2B (3%) 1 (2%) 3.2B (2%)
Canada 1 (3%) - 1 (2%) -
  British Columbia 1 (3%) - 1 (2%) -
Germany 1 (3%) - 1 (2%) -
Brazil 1 (3%) - 1 (2%) -
Netherlands 1 (3%) - 1 (2%) -
China - - 1 (2%) -
Total 36 $94.5B 51 $147.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 7 (19%) 33.4B (35%) 11 (22%) 46.4B (32%)
Going Private 6 (17%) 46.8B (50%) 10 (20%) 65.8B (45%)
Stake Purchase 8 (22%) - 9 (18%) -
Divestiture 6 (17%) 6.5B (7%) 8 (16%) 26.5B (18%)
Buyout (LBO, MBO, MBI) 4 (11%) 7.3B (8%) 6 (12%) 7.3B (5%)
Growth Capital 2 (6%) - 3 (6%) -
Joint Venture 1 (3%) 473M (1%) 1 (2%) 473M (< 1%)
PIPE 1 (3%) - 1 (2%) -
Recapitalization 1 (3%) - 1 (2%) -
Venture - - 1 (2%) -
Total 36 $94.5B 51 $146.5B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 6 (40%) 48.3B (71%)
IPO 4 (27%) -
Secondary Sale 2 (13%) 19.9B (29%)
Bankruptcy 1 (7%) -
Stake Sale 1 (7%) -
Trade Sale 1 (7%) -
Total 15 $68.2B

Deal Values

buy # Total
> $1B 23 $145.5B
$100M to $1B 3 $2.1B
TOTAL $147.6B
Largest Refinitiv
$20.0B (2018-01-30)
sell # Total
> $1B 7 $67.3B
$100M to $1B 1 $988M
TOTAL $68.2B
Largest Refinitiv
$27.0B (2019-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
29%
15 (29%)
Strategic(s)
18%
9 (18%)
Exited to
Investor(s)
13%
2 (13%)
Strategic(s)
47%
7 (47%)

Investor Summary

Investor Type

Pension

Size

Mega

Established

1997

Specialist/Generalist

Generalist

Leadership

John Graham

President & CEO

Kristina Fanjoy

Senior Managing Director & CFO

Geoffrey Rubin

Senior Managing Director & Chief Investment Strategist

Kristen Walters

Senior Managing Director & Chief Risk Officer

Mary Sullivan

Senior Managing Director & Chief Talent Officer

FAQ

When was CPP Investments founded?

CPP Investments was founded in 1997.

What type of investor is CPP Investments?

CPP Investments is a pension.

Where is CPP Investments headquartered?

CPP Investments is headquartered in Toronto, Ontario.

 Subscribe to unlock this and 207,390
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Mergr

Product

Company

Legal