M&A Deal Summary

IFM Investors Private Equity and Ontario Teachers Pension Plan Acquires Enwave Energy

On February 2, 2021, private equity firm IFM Investors Private Equity and pension Ontario Teachers Pension Plan acquired energy services and equipment company Enwave Energy Corp. from Brookfield Private Equity for 3.2B USD

Acquisition Highlights
  • This is IFM Investors Private Equity’s 2nd and Ontario Teachers Pension Plan’s 4th transaction in the Energy Services and Equipment sector.
  • This is IFM Investors Private Equity’s 3rd and Ontario Teachers Pension Plan’s 4th largest (disclosed) transaction.
  • This is IFM Investors Private Equity’s 1st and Ontario Teachers Pension Plan’s 15th transaction in Canada.
  • This is IFM Investors Private Equity’s 1st and Ontario Teachers Pension Plan’s 8th transaction in Ontario.

M&A Deal Summary

Date 2021-02-02
Target Enwave Energy Corp.
Sector Energy Services and Equipment
Buyer(s) IFM Investors Private Equity
Ontario Teachers Pension Plan
Sellers(s) Brookfield Private Equity
Deal Type Secondary Buyout
Deal Value 3.2B USD

Target

Enwave Energy Corp.

Toronto, Ontario, Canada
website
Enwave Energy Corp. is a fully-integrated, sustainable energy services provider that distributes steam and chilled water to over 140 buildings via a 40 km underground pipe network in downtown Toronto. Enwave Energy was founded in 1964 and is based in Toronto, Ontario.

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Buyer(S) 2

Buyer

IFM Investors Private Equity

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

IFM Investors Private Equity is the private equity arm of global investment manager IFM Investors. IFM Investors Private Equity looks to acquire and invest in mid-sized Australian and New Zealand companies focused on growth. The Group is sector agnostic with a preference for healthcare, consumer brands, technology/media, and business services companies. IFM Investors Private Equity is based in Melbourne.


DEAL STATS #
Overall 6 of 6
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 My Plan Manager

Adelaide, Australia

My Plan Manager is a provider of plan management services to clients in the National Disability Insurance Scheme. My Plan Manager was founded in 2015 and is based in Adelaide, Australia.

Buy -
Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Pension
Founded 1991
PE ASSETS 26.6B CAD
SizeMega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 98 of 105
Sector (Energy Services and Equipment) 4 of 4
Type (Secondary Buyout) 38 of 44
State (Ontario) 8 of 9
Country (Canada) 15 of 16
Year (2021) 2 of 9
Size (of disclosed) 4 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 TricorBraun, Inc.

St. Louis, Missouri, United States

TricorBraun, Inc. is a distributor of rigid packaging solutions including containers, closures and related components. TricorBraun, Inc. was established in 1902 and is headquartered in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-26 Logoplaste

Cascais, Portugal

Logoplaste is an industrial group, manufacturing rigid plastic packaging for many well-known global companies, in particular across the food and beverage, personal care, cosmetics, household care, and oil and lubricant sectors. Logoplaste has pioneered in-house manufacturing with the "through the wall" concept, supplying plastic packages "just-in-time" from plants installed directly on the sites of partner clients. Logoplaste was founded in 1976 and is based in Cascais, Portugal.

Buy -

Seller(S) 1

SELLER

Brookfield Private Equity

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
PE ASSETS 44.0B CAD
SizeMega
Type Sector Agnostic
DESCRIPTION

Brookfield Private Equity is the private equity arm of global asset management firm, Brookfield Asset Management. Brookfield Private Equity looks to acquire and invest in a variety of North American and European companies with broad sector interest in business services, industrials, and residential real estate. In addition to acquiring companies, Brookfield looks to invest in businesses through the public debt and equity markets, or by providing financing. Brookfield Private Equity is based in Toronto.


DEAL STATS #
Overall 5 of 5
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Ontario) 2 of 2
Country (Canada) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-08 Superior Plus Corp.

Toronto, Ontario, Canada

Superior Plus is a diversified company that engages in the energy distribution and specialty chemicals business. The company operates two separate businesses: Energy Distribution and Specialty Chemicals. All of the businesses are operated on the principles of entrepreneurship, continuous improvement, executing on objectives, safety, and teamwork. Superior Plus was formed in 1996 and is based in Toronto, Ontario.

Buy -