Novacap Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Novacap has acquired 12 companies. It has also invested in 1 other.

Novacap’s most common sectors for investment areinformation technology (18%) and consumer products (15%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (59%) and growth capital (25%). In total, Novacap has invested in 10 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2011 when it acquired Idaho Pacific Crop. for $87M.

In the last 3 years, Novacap has exited 7 companies. The Firm’s most common exit type is secondary buyout (54%). Novacap’s largest (disclosed) exit occurred in 2013 when it sold iWeb Technologies for $145M.

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M&A Summary

  • M&A Total Activity54
    • M&A Buy Activity41
    • M&A Sell Activity13
  • Total Sectors Invested 20
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 12
  • M&A Advisors 8

Novacap

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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (3.8/yr) # 22 6 3 2 5 3 41
vol $87M $87M
Sell (1.6/yr) # 5 1 2 2 3 - 13
vol $265M $52M $317M
  54

Most Recent M&A

Company Date Value Type
Multy Home 2021-07-13 - Buyout (LBO, MBO, MBI)
Vaughan, Ontario · www.multyhome.com
Canada Diagnostic Centres 2021-07-06 - Growth Capital
Calgary, Alberta · www.canadadiagnostics.ca
Globe Electric Co. 2021-05-12 - Buyout (LBO, MBO, MBI)
Montreal, Quebec · www.globe-electric.com
Logibec, Inc. 2020-12-02 - Secondary Buyout
Montreal, Quebec · www.logibec.com
AGA Financial Group, Inc. 2020-10-05 - Buyout (LBO, MBO, MBI)
Westmount, Quebec · www.aga.ca
GroupAssur, Inc. 2020-09-15 - Buyout (LBO, MBO, MBI)
St Leonard, Quebec · www.groupassur.com
Optiom, Inc. 2020-09-14 - Buyout (LBO, MBO, MBI)
Calgary, Alberta · www.optiom.com
FortNine 2020-08-06 - Buyout (LBO, MBO, MBI)
Montreal, Quebec · www.fortnine.ca
PKWARE, Inc. 2020-05-13 - Secondary Buyout
Milwaukee, Wisconsin · www.pkware.com
Intelerad Medical Systems, Inc. 2020-01-23 - Secondary Buyout
Montreal, Quebec · www.intelerad.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Horizon Telcom, Inc. 2018-01-25 Consolidated Cooperative - Commercial Fiber Business 2021-08-31 2
Columbus, Ohio · www.horizonconnects.com Mount Gilead, Ohio

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 5 (18%) - 7 (17%) -
Consumer Products 4 (14%) - 6 (15%) -
Manufacturing 2 (7%) - 4 (10%) -
Insurance 3 (11%) - 3 (7%) -
Software - - 3 (7%) -
Business Services 2 (7%) - 2 (5%) -
Furniture 2 (7%) - 2 (5%) -
Healthcare Services 2 (7%) - 2 (5%) -
Food - - 1 (2%) 87M (100%)
Apparel/Textiles 1 (4%) - 1 (2%) -
Communications 1 (4%) - 1 (2%) -
E-Commerce 1 (4%) - 1 (2%) -
Electrical Equipment 1 (4%) - 1 (2%) -
Energy Services and Equipment 1 (4%) - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery 1 (4%) - 1 (2%) -
Packaging 1 (4%) - 1 (2%) -
Retail - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Transportation 1 (4%) - 1 (2%) -
Total 28 - 41 $87M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 20 (71%) - 28 (68%) -
  Quebec 13 (46%) - 20 (49%) -
  Ontario 4 (14%) - 5 (12%) -
  Alberta 3 (11%) - 3 (7%) -
United States 8 (29%) - 12 (29%) 87M (100%)
  Texas 2 (7%) - 2 (5%) -
  Ohio 2 (7%) - 2 (5%) -
  Nevada 1 (4%) - 1 (2%) -
  Minnesota 1 (4%) - 1 (2%) -
  Michigan 1 (4%) - 1 (2%) -
  California 1 (4%) - 1 (2%) -
  Idaho - - 1 (2%) 87M (100%)
  Wisconsin - - 1 (2%) -
  New York - - 1 (2%) -
  Maine - - 1 (2%) -
France - - 1 (2%) -
  Ontario - - 1 (2%) -
Domestic 20 (71%) - 28 (68%) -
Cross-border 8 (29%) - 13 (32%) 87M (100%)
Total 28 - 41 $87M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 16 (57%) - 24 (59%) -
Growth Capital 7 (25%) - 10 (24%) -
Secondary Buyout 5 (18%) - 6 (15%) -
Divestiture - - 1 (2%) 87M (100%)
Total 28 - 41 $87M

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (62%) -
Trade Sale - Public Company 3 (23%) 317M (100%)
Merger 1 (8%) -
Recapitalization 1 (8%) -
Total 13 $317M

Top M&A Advisors

Financial Deals
Ernst & Young Capital Advisors LLC
1
GMP Securities LP
1
National Bank Financial
1
Legal Deals
Fasken Martineau DuMoulin LLP
3
Ernst & Young - Law
1
Goodwin Procter LLP
1

Deal Values

buy # Total
< $100M 1 $87M
TOTAL $87M
Largest Idaho Pacific Crop.
$87M (2011-05-06)
sell # Total
$100M to $1B 2 $265M
< $100M 1 $52M
TOTAL $317M
Largest iWeb Technologies Inc.
$145M (2013-10-30)

M&A Connections

Deals
Acquired from
Investor(s)
15%
6 (15%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
62%
8 (62%)
Strategic(s)
23%
3 (23%)

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