Novacap Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Novacap has acquired 7 companies. It has also invested in 4 others.

Novacap’s most common sectors for investment areinformation technology (16%) and manufacturing (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (54%) and growth capital (26%). In total, Novacap has invested in 12 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 trade sale (43%). Novacap’s largest (disclosed) exit occurred in 2023 when it sold Horizon Telcom for $385M.

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M&A Summary

  • M&A Total Activity84
    • M&A Buy Activity58
    • M&A Sell Activity26
  • Total Sectors Invested 26
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 26
  • M&A Advisors 12

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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.2/yr) # 42 5 7 1 2 1 58
vol $87M $87M
Sell (2.2/yr) # 15 4 - 4 2 1 26
vol $265M $52M $539M $856M
  84

Most Recent M&A

Company Date Value Type
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
Optiom, Inc. 2023-11-27 154M GBP Trade Sale
Calgary, Alberta · www.optiom.com
Horizon Telcom, Inc. 2023-10-24 385M USD Trade Sale
Columbus, Ohio · www.horizonconnects.com
Cadent LLC 2023-08-09 - Secondary Buyout
New York, New York · www.cadent.tv
7Hops.com, Inc. 2023-04-04 - Growth Capital
New York, New York · www.static.com
Ratehub, Inc. 2022-07-14 - Growth Capital
Toronto, Ontario · www.ratehub.ca
Hallcon Corp. 2022-07-05 - Secondary Sale
Chicago, Illinois · www.hallconcorp.com
Greenwood Mushrooms Development Corp. 2022-06-29 - Secondary Sale
Ashburn, Ontario · www.windmillfarms.ca
Mucci International Marketing, Inc. 2022-06-03 - Trade Sale
Kingsville, Ontario · www.muccifarms.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
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
Previan Technologies, Inc. 2021-03-31 Zetec, Inc. 2021-08-10 4
Québec, Quebec · www.eddyfi-ndt.com Snoqualmie, Washington · www.zetec.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 5 (17%) - 9 (16%) -
Manufacturing 3 (10%) - 5 (9%) -
Consumer Products 2 (7%) - 4 (7%) -
Food - - 3 (5%) 87M (100%)
Communications 2 (7%) - 3 (5%) -
Healthcare Services 2 (7%) - 3 (5%) -
Insurance 1 (3%) - 3 (5%) -
Software - - 3 (5%) -
Transportation 1 (3%) - 3 (5%) -
Agriculture - - 2 (3%) -
Business Services 2 (7%) - 2 (3%) -
Distribution 1 (3%) - 2 (3%) -
Furniture 2 (7%) - 2 (3%) -
Media 2 (7%) - 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%) -
Financial Services 1 (3%) - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery 1 (3%) - 1 (2%) -
Packaging 1 (3%) - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 30 - 58 $87M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 20 (67%) - 39 (67%) -
  Quebec 16 (53%) - 30 (52%) -
  Ontario 3 (10%) - 6 (10%) -
  Alberta 1 (3%) - 3 (5%) -
United States 10 (33%) - 18 (31%) 87M (100%)
  New York 3 (10%) - 4 (7%) -
  Illinois 2 (7%) - 3 (5%) -
  Ohio 1 (3%) - 2 (3%) -
  Michigan 1 (3%) - 1 (2%) -
  Indiana 1 (3%) - 1 (2%) -
  Nevada 1 (3%) - 1 (2%) -
  Minnesota 1 (3%) - 1 (2%) -
  Idaho - - 1 (2%) 87M (100%)
  Maine - - 1 (2%) -
  California - - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Texas - - 1 (2%) -
France - - 1 (2%) -
  Ontario - - 1 (2%) -
Domestic 20 (67%) - 39 (67%) -
Cross-border 10 (33%) - 19 (33%) 87M (100%)
Total 30 - 58 $87M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 16 (53%) - 31 (53%) -
Growth Capital 6 (20%) - 15 (26%) -
Secondary Buyout 5 (17%) - 8 (14%) -
Divestiture - - 1 (2%) 87M (100%)
Add-on Acquisition 1 (3%) - 1 (2%) -
Stake Purchase 1 (3%) - 1 (2%) -
Venture 1 (3%) - 1 (2%) -
Total 30 - 58 $87M

Exits by Deal Type

Type Total # Value
Secondary Sale 12 (46%) -
Trade Sale - Public Company 7 (27%) 856M (100%)
Trade Sale 5 (19%) -
Merger 1 (4%) -
Recapitalization 1 (4%) -
Total 26 $856M

Top M&A Advisors

Financial Deals
National Bank Financial
2
Ernst & Young Capital Advisors LLC
1
GMP Securities LP
1
Legal Deals
Fasken Martineau DuMoulin LLP
2
Foley & Lardner LLP
2
McCarthy Tétrault
2

Deal Values

buy # Total
< $100M 1 $87M
TOTAL $87M
Largest Idaho Pacific Crop.
$87M (2011-05-06)
sell # Total
$100M to $1B 4 $804M
< $100M 1 $52M
TOTAL $856M
Largest Horizon Telcom, Inc.
$385M (2023-10-24)

M&A Connections

Deals
Acquired from
Investor(s)
14%
8 (14%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
42%
11 (42%)
Strategic(s)
50%
13 (50%)

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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