Buyout (LBO, MBO, MBI) • Building Materials

TorQuest Partners and La Caisse Acquire Barrette Outdoor Living

On November 3, 2020, private equity firm TorQuest Partners and asset manager La Caisse acquired building materials company Barrette Outdoor Living

Acquisition Context
  • This is TorQuest Partners’ 2nd and La Caisse’s 3rd transaction in the Building Materials sector.
  • This is TorQuest Partners’ 8th and La Caisse’s 18th transaction in the United States.
  • This is TorQuest Partners’ 1st and La Caisse’s 2nd transaction in Ohio.
Investment Fate
  • Barrette Outdoor Living was sold to a publicly-traded strategic buyer in 2022 for 1.9B USD.

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M&A Deal Summary

Date November 3, 2020
Target Barrette Outdoor Living
Sector Building Materials
Buyer(s) TorQuest Partners
La Caisse
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Moelis & Co.
PwC Corporate Finance (Financial)

Target Company

Barrette Outdoor Living

Middleburg Hts, Ohio, United States
Barrette Outdoor Living empowers homeowners to bring their personal outdoor space to life by providing fencing, railing, decking, and complimentary outdoor products that beckon people to embrace their Outside SideTM. Barrette Outdoor Living is proud to be an American manufacturer, with 14 locations throughout North America that provide outdoor products sold through specialty retailers, home centers, and lumberyards. Featuring more than 70 patents, proprietary state-of-the-art machinery, and rigorous testing and control standards, Barrette Outdoor Living products are meticulously engineered, and designed for flexibility and ease of installation. Barrette Outdoor Living is based in Middleburg Hts, Ohio.
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Buyers Overview 2

Buyer

TorQuest Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.


Deal Context for Buyer #
Overall 32 of 45
Sector: Building Materials 2 of 3
Type: Buyout (LBO, MBO, MBI) 12 of 15
State: Ohio 1 of 1
Country: United States 8 of 9
Year: 2020 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-11 Bad Boy Mowers

Batesville, Arkansas, United States

Bad Boy Mowers is a manufacturer of high-performance zero-turn riding lawn mowers. Bad Boy enjoys a major brand in the lawn care industry with its lineup of commercial-quality residential mowers and professional-grade commercial mowers. Bad Boy sells its mowers across an expanding base of independent dealers and outdoor retailers. Bad Boy Mowers was founded in 1998 and is based in Batesville, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 VersaCold Logistics Services

Vaughan, Ontario, Canada

VersaCold Logistics Services is a supply chain solutions company focused exclusively on the handling of temperature-sensitive food products. The company delivers a suite of fully integrated logistics services through its national network of industry-leading facilities, transportation fleet, and advanced technologies that set the benchmark for accessibility, information visualization, real-time tracking and inventory management. VersaCold was formed in 1946 and is based in Vaughan, Ontario.

Buy -
Buyer

La Caisse

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1965
PE ASSETS 90.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


Deal Context for Buyer #
Overall 69 of 106
Sector: Building Materials 3 of 3
Type: Buyout (LBO, MBO, MBI) 5 of 10
State: Ohio 2 of 2
Country: United States 18 of 26
Year: 2020 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 AppDirect

San Francisco, California, United States

AppDirect is a cloud service commerce making software and products accessible globally. AppDirect was founded in 2009 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-18 CAE

Saint-Laurent, Quebec, Canada

CAE engages in modeling, simulation, and training for civil aviation and defense. It offers civil aviation, military, and helicopter training services in more than 45 locations worldwide and trains approximately 100,000 crew members yearly. CAE was founded in 1947 and is based in Saint-Laurent, Quebec.

Buy -