Novacap Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Novacap has acquired 9 companies. It has also invested in 6 others.

Novacap’s most common sectors for investment areinformation technology (14%) and manufacturing (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (53%) and growth capital (28%). In total, Novacap has invested in 13 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2024 when it acquired Nuvei Technologies for $6.3B.

In the last 3 years, Novacap has exited 11 companies. The Firm’s most common exit type is trade sale (44%). Novacap’s largest (disclosed) exit occurred in 2024 when it sold Nuvei Technologies for $6.3B.

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M&A Summary

  • M&A Total Activity94
    • M&A Buy Activity64
    • M&A Sell Activity30
  • Total Sectors Invested 26
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 27
  • M&A Advisors 17

Novacap

Novacap Management, Inc.

3400, rue de l’Eclipse, Bureau 700,
Brossard, Quebec J4Z 0P3
Canada
(450) 651-5000
www.novacap.ca
info@novacap.ca

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Communications, Distribution, Food, Healthcare Services, Leisure, Manufacturing, Media, Medical Products, Packaging, Plastics, Safety/Security, Semiconductors, Software, Technology Hardware, Transportation

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

Geographic Preferences: Canada

Transaction Criteria Min Max
Target Revenue 30 500
Target EBITDA - -
Investment Size - -
Enterprise Value 30 300
values in millions of CAD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (4.0/yr) # 44 6 6 1 4 3 64
vol $87M $87M
Sell (3.0/yr) # 15 4 - 4 3 4 30
vol $265M $52M $539M $6.3B $7.2B
  94

Most Recent M&A

Company Date Value Type
GHP Group, Inc. 2024-10-03 - Secondary Sale
Niles, Illinois · www.ghpgroupinc.com
Mailhot Industries, Inc. 2024-05-09 - Trade Sale
Saint-Jacques, Quebec · www.mailhotindustries.com
Nuvei Technologies, Inc. 2024-04-01 6.3B USD Stake Sale
Montreal, Quebec · www.nuvei.com
Communications Venture Corporation, Inc. 2024-03-07 - Buyout (LBO, MBO, MBI)
Fort Wayne, Indiana · www.indigital.net
AGA Financial Group, Inc. 2024-03-05 - Secondary Sale
Westmount , Quebec · www.aga.ca
Alliance Labeling, Inc. 2024-03-05 - Buyout (LBO, MBO, MBI)
Oakville, Ontario · www.alliancelabeling.com
All West Communications, Inc. 2024-01-10 - Growth Capital
Kamas, Utah · www.allwest.com
Harmony Healthcare IT 2023-11-28 - Secondary Buyout
South Bend, Indiana · www.harmonyhit.com
Optiom, Inc. 2023-11-27 154M GBP Trade Sale
Calgary, Alberta · www.optiom.com
GTI Transport Solutions, Inc. 2023-11-27 - Trade Sale
Lachine, Quebec · www.thegtigroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
The Master Group L.P 2014-03-03 Refrigeration Sales Corp. 2023-03-02 6
Boucherville, Quebec · www.master.ca Valley View, Ohio · www.refrigerationsales.net
Globe Electric Company, Inc. 2021-05-12 HeathCo LLC 2021-11-10 1
Montreal, Quebec · www.globe-electric.com Bowling Green, Kentucky · www.heath-zenith.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 5 (16%) - 9 (14%) -
Manufacturing 1 (3%) - 6 (9%) -
Communications 3 (10%) - 4 (6%) -
Consumer Products 2 (6%) - 4 (6%) -
Financial Services 2 (6%) 6.3B (100%) 3 (5%) 6.3B (99%)
Food - - 3 (5%) 87M (1%)
Business Services 3 (10%) - 3 (5%) -
Furniture 3 (10%) - 3 (5%) -
Healthcare Services 2 (6%) - 3 (5%) -
Insurance 1 (3%) - 3 (5%) -
Software - - 3 (5%) -
Transportation - - 3 (5%) -
Agriculture - - 2 (3%) -
Distribution 1 (3%) - 2 (3%) -
Media 1 (3%) - 2 (3%) -
Packaging 2 (6%) - 2 (3%) -
Apparel/Textiles 1 (3%) - 1 (2%) -
Digital Media 1 (3%) - 1 (2%) -
E-Commerce 1 (3%) - 1 (2%) -
Electrical Equipment 1 (3%) - 1 (2%) -
Energy Services and Equipment - - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery 1 (3%) - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 31 $6.3B 65 $6.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 19 (61%) 6.3B (100%) 43 (66%) 6.3B (99%)
  Quebec 14 (45%) 6.3B (100%) 33 (51%) 6.3B (99%)
  Ontario 4 (13%) - 7 (11%) -
  Alberta 1 (3%) - 3 (5%) -
United States 12 (39%) - 21 (32%) 87M (1%)
  New York 3 (10%) - 4 (6%) -
  Illinois 1 (3%) - 3 (5%) -
  Indiana 2 (6%) - 2 (3%) -
  Texas 1 (3%) - 2 (3%) -
  Ohio 1 (3%) - 2 (3%) -
  Utah 1 (3%) - 1 (2%) -
  Nevada 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Michigan 1 (3%) - 1 (2%) -
  Idaho - - 1 (2%) 87M (1%)
  Wisconsin - - 1 (2%) -
  Maine - - 1 (2%) -
  California - - 1 (2%) -
France - - 1 (2%) -
  Ontario - - 1 (2%) -
Domestic 19 (61%) 6.3B (100%) 43 (66%) 6.3B (99%)
Cross-border 12 (39%) - 22 (34%) 87M (1%)
Total 31 $6.3B 65 $6.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 15 (48%) - 34 (52%) -
Growth Capital 9 (29%) - 18 (28%) -
Secondary Buyout 6 (19%) - 9 (14%) -
Going Private 1 (3%) 6.3B (100%) 1 (2%) 6.3B (99%)
Divestiture - - 1 (2%) 87M (1%)
Stake Purchase - - 1 (2%) -
Venture - - 1 (2%) -
Total 31 $6.3B 65 $6.4B

Exits by Deal Type

Type Total # Value
Secondary Sale 13 (43%) -
Trade Sale - Public Company 7 (23%) 856M (12%)
Trade Sale 7 (23%) -
Stake Sale 1 (3%) 6.3B (88%)
Merger 1 (3%) -
Recapitalization 1 (3%) -
Total 30 $7.2B

Top M&A Advisors

Financial Deals
National Bank Financial
 2
Ernst & Young Capital Advisors
 1
Evercore Group
 1
Legal Deals
Fasken Martineau DuMoulin
 4
Willkie Farr & Gallagher
 2
McCarthy Tétrault
 2

Deal Values

buy # Total
> $1B 1 $6.3B
< $100M 1 $87M
TOTAL $6.4B
Largest Nuvei Technologies, Inc.
$6.3B (2024-04-01)
sell # Total
> $1B 1 $6.3B
$100M to $1B 4 $804M
< $100M 1 $52M
TOTAL $7.2B
Largest Nuvei Technologies, Inc.
$6.3B (2024-04-01)

M&A Connections

Deals
Acquired from
Investor(s)
15%
10 (15%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
43%
13 (43%)
Strategic(s)
50%
15 (50%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

8.0B CAD

Established

1981

Specialist/Generalist

Generalist

Leadership

Jacques Foisy

Chairman of the Board & Managing Partner

Marcel Larochelle

Managing Partner

Pascal Tremblay

President & Managing Partner, CEO

Domenic Mancini

Senior Partner

Eric Desrosiers

Senior Partner

FAQ

When was Novacap founded?

Novacap was founded in 1981.

What type of investor is Novacap?

Novacap is a private equity firm.

Where is Novacap headquartered?

Novacap is headquartered in Brossard, Quebec.

How much capital does Novacap have under management?

Novacap has 8.0B CAD under management.

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