Novacap Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Novacap has acquired 11 companies. It has also invested in 1 other.

Novacap’s most common sectors for investment areinformation technology (17%) and consumer products (14%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (61%) and growth capital (24%). In total, Novacap has invested in 11 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 5 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 Activity56
    • M&A Buy Activity43
    • M&A Sell Activity13
  • Total Sectors Invested 20
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 13
  • 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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (3.0/yr) # 28 3 2 6 4 - 43
vol $87M $87M
Sell (1.4/yr) # 6 2 2 3 - - 13
vol $265M $52M $317M
  56

Most Recent M&A

Company Date Value Type
Stratus Networks 2021-10-21 - Buyout (LBO, MBO, MBI)
Peoria Heights, Illinois · www.stratusnet.com
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
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Globe Electric Co. 2021-05-12 HeathCo LLC 2021-11-10 1
Montreal, Quebec · www.globe-electric.com Bowling Green, Kentucky · www.heath-zenith.com
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 (17%) - 7 (16%) -
Consumer Products 4 (13%) - 6 (14%) -
Insurance 4 (13%) - 4 (9%) -
Manufacturing 2 (7%) - 4 (9%) -
Software - - 3 (7%) -
Business Services 2 (7%) - 2 (5%) -
Communications 2 (7%) - 2 (5%) -
Furniture 2 (7%) - 2 (5%) -
Healthcare Services 2 (7%) - 2 (5%) -
Food - - 1 (2%) 87M (100%)
Apparel/Textiles 1 (3%) - 1 (2%) -
E-Commerce 1 (3%) - 1 (2%) -
Electrical Equipment 1 (3%) - 1 (2%) -
Energy Services and Equipment 1 (3%) - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery 1 (3%) - 1 (2%) -
Packaging 1 (3%) - 1 (2%) -
Retail - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Transportation 1 (3%) - 1 (2%) -
Total 30 - 43 $87M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 21 (70%) - 29 (67%) -
  Quebec 14 (47%) - 21 (49%) -
  Ontario 4 (13%) - 5 (12%) -
  Alberta 3 (10%) - 3 (7%) -
United States 9 (30%) - 13 (30%) 87M (100%)
  Texas 2 (7%) - 2 (5%) -
  Ohio 2 (7%) - 2 (5%) -
  Nevada 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Michigan 1 (3%) - 1 (2%) -
  Illinois 1 (3%) - 1 (2%) -
  California 1 (3%) - 1 (2%) -
  Idaho - - 1 (2%) 87M (100%)
  Wisconsin - - 1 (2%) -
  New York - - 1 (2%) -
  Maine - - 1 (2%) -
France - - 1 (2%) -
  Ontario - - 1 (2%) -
Domestic 21 (70%) - 29 (67%) -
Cross-border 9 (30%) - 14 (33%) 87M (100%)
Total 30 - 43 $87M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 18 (60%) - 26 (60%) -
Growth Capital 7 (23%) - 10 (23%) -
Secondary Buyout 5 (17%) - 6 (14%) -
Divestiture - - 1 (2%) 87M (100%)
Total 30 - 43 $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
McMillan LLP
 1
Ernst & Young - Law
 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)
14%
6 (14%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
62%
8 (62%)
Strategic(s)
23%
3 (23%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

2.3B CAD

Established

1981

Specialist/Generalist

Generalist

Leadership

Jacques Foisy

Chairman of the Board & Managing Partner

Marc Beauchamp

Founder & Chairman

Sean Mckinnon

Head of Business Development

Stéphane Bergeron

Head of Financing

Marcel Larochelle

Managing Partner

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