Northleaf Capital Partners Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Northleaf Capital Partners has acquired 7 companies. It has also invested in 2 others.

Northleaf Capital Partners’ most common sectors for investment areenergy services and equipment (21%) and communications (17%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (38%) and divestiture (25%). In total, Northleaf Capital Partners has invested in 9 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Bolthouse Farms for $510M.

The Firm’s most common exit type is trade sale (100%). Northleaf Capital Partners’ largest (disclosed) exit occurred in 2020 when it sold Credit Karma for $7.1B.

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M&A Summary

  • M&A Total Activity25
    • M&A Buy Activity24
    • M&A Sell Activity1
  • Total Sectors Invested 14
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 19
  • M&A Advisors 11

Northleaf Capital Partners

Northleaf Capital Partners Ltd.

79 Wellington Street West, 6th Floor, Box 120,
Toronto, Ontario M5K 1N9
Canada
(866) 964-4141
www.northleafcapital.com
investors@northleafcapital.com

Northleaf Capital Partners is an asset management firm focused on private equity, private credit, and infrastructure investment opportunities. The Firm's private equity group looks to make fund, secondary, as well as direct investments. Within its direct investing practice, Northleaf will consider a variety of middle-market investment situations including growth capital financings, successions, consolidations, and other special situations. Northleaf Capital Partners was established in 2009 and is based in Toronto, Ontario.


Investment Criteria

Sectors of Interest: Beverages, Business Services, Consumer Products, Consumer Services, Distribution, Electronics, Engineering, Environmental, Food, Information Services, Information Technology, Infrastructure, Manufacturing, Retail, Software, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Special Situations/Distressed, Stake Purchase

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

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) # 14 1 3 3 3 - 24
vol $510M $510M
Sell (0.2/yr) # - 1 - - - - 1
vol $7.1B $7.1B
  25

Most Recent M&A

Company Date Value Type
EVPassport, Inc. 2023-10-12 - Buyout (LBO, MBO, MBI)
Venice, California · www.evpassport.com
Tillman Global Holdings LLC 2023-08-10 - Growth Capital
New York, New York · www.tillmanfiber.com
Provident Energy Management, Inc. 2023-08-02 - Buyout (LBO, MBO, MBI)
Concord, Ontario · www.pemi.com
Mercury Broadband 2022-11-08 - Buyout (LBO, MBO, MBI)
Kansas City, Missouri · www.mercurybroadband.com
Aotearoa Towers Group Ltd. 2022-07-18 - Divestiture
Auckland, New Zealand · www.fortysouth.co.nz
Collins River Enterprises Ltd. 2022-04-25 - Divestiture
London, United Kingdom · www.thamesclippers.com
AMAROK LLC 2021-12-13 - Secondary Buyout
Columbia, South Carolina · www.amarok.com
Spirit Music Group, Inc. 2021-10-14 - Growth Capital
New York, New York · www.spiritmusicgroup.com
Quickline Communications Ltd. 2021-04-23 - Divestiture
Willerby, United Kingdom · www.quickline.co.uk
Credit Karma, Inc. 2020-02-24 7.1B USD Trade Sale
San Francisco, California · www.creditkarma.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
CSV Midstream Solutions 2019-06-28 Kanata Energy Group Ltd. 2023-02-14 1
Calgary, Alberta · www.csvmidstream.com Calgary, Alberta · www.kanataenergy.com
Bolthouse Farms, Inc. 2019-04-12 Evolution Fresh, Inc. 2022-05-24 2
Bakersfield, California · www.bolthouse.com San Bernardino, California · www.evolutionfresh.com
Bolthouse Farms, Inc. 2019-04-12 Rousseau Farming Co.'s Carrot Operations 2020-03-25 1
Bakersfield, California · www.bolthouse.com , Arizona

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 5 (22%) - 5 (21%) -
Communications 4 (17%) - 4 (17%) -
Information Technology 2 (9%) - 2 (8%) -
Renewable Energy 2 (9%) - 2 (8%) -
Transportation 2 (9%) - 2 (8%) -
Beverages 1 (4%) 510M (100%) 1 (4%) 510M (100%)
Electrical Equipment 1 (4%) - 1 (4%) -
Infrastructure 1 (4%) - 1 (4%) -
Internet Software and Services - - 1 (4%) -
Marine 1 (4%) - 1 (4%) -
Metals/Mining 1 (4%) - 1 (4%) -
Publishing 1 (4%) - 1 (4%) -
Safety/Security 1 (4%) - 1 (4%) -
Utilities 1 (4%) - 1 (4%) -
Total 23 $510M 24 $510M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (52%) 510M (100%) 13 (54%) 510M (100%)
  California 2 (9%) 510M (100%) 3 (13%) 510M (100%)
  Texas 2 (9%) - 2 (8%) -
  New York 2 (9%) - 2 (8%) -
  Michigan 1 (4%) - 1 (4%) -
  Massachusetts 1 (4%) - 1 (4%) -
  Florida 1 (4%) - 1 (4%) -
  Colorado 1 (4%) - 1 (4%) -
  South Carolina 1 (4%) - 1 (4%) -
  Missouri 1 (4%) - 1 (4%) -
United Kingdom 4 (17%) - 4 (17%) -
Australia 3 (13%) - 3 (13%) -
Canada 2 (9%) - 2 (8%) -
  Ontario 1 (4%) - 1 (4%) -
  Alberta 1 (4%) - 1 (4%) -
Belgium 1 (4%) - 1 (4%) -
New Zealand 1 (4%) - 1 (4%) -
Total 23 $510M 24 $510M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (39%) - 9 (38%) -
Divestiture 6 (26%) 510M (100%) 6 (25%) 510M (100%)
Growth Capital 2 (9%) - 3 (13%) -
Secondary Buyout 3 (13%) - 3 (13%) -
Stake Purchase 2 (9%) - 2 (8%) -
Recapitalization 1 (4%) - 1 (4%) -
Total 23 $510M 24 $510M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 1 (100%) 7.1B (100%)
Total 1 $7.1B

Top M&A Advisors

Financial Deals
TD Securities
 1
KPMG Corporate Finance LLC
 1
National Bank Financial
 1
Legal Deals
Wilkinson Barker Knauer
 1
Ashurst
 1
Latham & Watkins
 1

Deal Values

buy # Total
$100M to $1B 1 $510M
TOTAL $510M
Largest Bolthouse Farms, Inc.
$510M (2019-04-12)
sell # Total
> $1B 1 $7.1B
TOTAL $7.1B
Largest Credit Karma, Inc.
$7.1B (2020-02-24)

M&A Connections

Deals
Acquired from
Investor(s)
13%
3 (13%)
Strategic(s)
29%
7 (29%)
Exited to
Strategic(s)
100%
1 (100%)

Investor Summary

Investor Type

Asset Manager

Size

Mega

PE Assets

22.0B USD

Established

2009

Specialist/Generalist

Generalist

Leadership

Rob MacLellan

Chairman

Stuart Waugh

Managing Director & Managing Partner

Daniel Dupont

Vice Chair, Europe

Jeff Lucassen

CFO & COO

Alex Jackson

Managing Director

FAQ

When was Northleaf Capital Partners founded?

Northleaf Capital Partners was founded in 2009.

What type of investor is Northleaf Capital Partners?

Northleaf Capital Partners is an asset manager.

Where is Northleaf Capital Partners headquartered?

Northleaf Capital Partners is headquartered in Toronto, Ontario.

How much capital does Northleaf Capital Partners have under management?

Northleaf Capital Partners has 22.0B USD under management.

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