TorQuest Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

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

TorQuest Partners’ most common sectors for investment arebuilding materials (12%) and food (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (38%) and secondary buyout (18%). In total, TorQuest Partners has invested in 6 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2009 when it acquired Pinova for $75M.

In the last 3 years, TorQuest Partners has exited 6 companies. The Firm’s most common exit type is trade sale (46%). TorQuest Partners’ largest (disclosed) exit occurred in 2022 when it sold Barrette Outdoor Living for $1.9B.

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M&A Summary

  • M&A Total Activity59
    • M&A Buy Activity35
    • M&A Sell Activity24
  • Total Sectors Invested 23
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 20
  • M&A Advisors 5

TorQuest Partners

161 Bay St, Suite 4240,
Toronto, Ontario M5J 2S1
Canada
(416) 956-7022
www.torquest.com
brock@torquest.com

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.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Business Services, Chemicals, Construction, Consumer Products, Consumer Services, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Information Technology, Insurance, Life Science, Machinery, Manufacturing, Marketing, Metals/Mining, Oil/Gas Exploration, Real Estate, Safety/Security, Staffing

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 20 100
Enterprise Value 40 250
values in millions of CAD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (2.2/yr) # 24 4 2 2 2 1 35
vol $75M $75M
Sell (2.0/yr) # 14 4 - - 1 5 24
vol $597M $627M $2.3B $3.6B
  59

Most Recent M&A

Company Date Value Type
Cando Rail & Terminals Ltd. 2022-07-20 - Secondary Buyout
Brandon, Manitoba · www.candorail.com
Barrette Outdoor Living, Inc. 2022-06-03 1.9B USD Add-on Acquisition
Middleburg Hts, Ohio · www​.bar​ret​te​out​door​liv​ing​.com
Polycor, Inc. 2022-05-04 - Secondary Buyout
Quebec, Quebec · www.polycor.com
Johnvince Foods Ltd. 2022-04-15 - Growth Capital
Downsview, Ontario · www.johnvince.com
VersaCold Logistics Services 2022-04-13 - Add-on Acquisition
Vaughan, Ontario · www.versacold.com
Rubicon Pharmacies 2022-03-10 435M USD Add-on Acquisition
Regina, Saskatchewan · www.rubiconpharmacies.com
North West Rubber Ltd. 2021-11-30 - Buyout (LBO, MBO, MBI)
Abbotsford, British Columbia · www.northwestrubber.com
The Team Companies LLC 2021-11-18 - Add-on Acquisition
Burbank, California · www.theteamcompanies.com
Onyx-Fire Protection Services, Inc. 2021-04-07 - Growth Capital
Mississauga, Ontario · www.onyx-fire.com
VersaCold Logistics Services 2020-12-16 - Divestiture
Vaughan, Ontario · www.versacold.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SCM Insurance Services, Inc. 2010-08-02 Opta Information Intelligence Corp. 2022-03-01 1
Edmonton, Alberta · www.scm.ca Markham, Ontario · www.optaintel.ca
SCM Insurance Services, Inc. 2010-08-02 Rochon Engineering Corp. 2014-08-25 4
Edmonton, Alberta · www.scm.ca Bolton, Ontario · www.rochons.ca
SCM Insurance Services, Inc. 2010-08-02 CKR Global 2014-08-25 3
Edmonton, Alberta · www.scm.ca Toronto, Ontario
SCM Insurance Services, Inc. 2010-08-02 Granite Global Solutions 2014-08-24 2
Edmonton, Alberta · www.scm.ca Toronto, Ontario · www.graniteglobalsolutions.com

M&A by Sector

Sector Current # Value All-time # Value
Building Materials 2 (17%) - 4 (11%) -
Food 1 (8%) - 3 (9%) -
Chemicals - - 2 (6%) 75M (100%)
Business Services - - 2 (6%) -
Construction 1 (8%) - 2 (6%) -
Energy Services and Equipment 1 (8%) - 2 (6%) -
Insurance 1 (8%) - 2 (6%) -
Retail 1 (8%) - 2 (6%) -
Transportation 1 (8%) - 2 (6%) -
Apparel/Textiles - - 1 (3%) -
Beverages 1 (8%) - 1 (3%) -
Consumer Products - - 1 (3%) -
Consumer Services - - 1 (3%) -
Environmental - - 1 (3%) -
Financial Services - - 1 (3%) -
Franchising 1 (8%) - 1 (3%) -
Furniture 1 (8%) - 1 (3%) -
Information Technology - - 1 (3%) -
Infrastructure - - 1 (3%) -
Marketing - - 1 (3%) -
Metals/Mining - - 1 (3%) -
Safety/Security 1 (8%) - 1 (3%) -
Staffing - - 1 (3%) -
Total 12 - 35 $75M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 11 (92%) - 28 (80%) -
  Ontario 6 (50%) - 15 (43%) -
  British Columbia 3 (25%) - 4 (11%) -
  Quebec - - 4 (11%) -
  Alberta 2 (17%) - 2 (6%) -
  Saskatchewan - - 1 (3%) -
  Nova Scotia - - 1 (3%) -
  Manitoba - - 1 (3%) -
United States 1 (8%) - 7 (20%) 75M (100%)
  California - - 2 (6%) -
  Texas 1 (8%) - 1 (3%) -
  Georgia - - 1 (3%) 75M (100%)
  Ohio - - 1 (3%) -
  Minnesota - - 1 (3%) -
  Delaware - - 1 (3%) -
Domestic 11 (92%) - 28 (80%) -
Cross-border 1 (8%) - 7 (20%) 75M (100%)
Total 12 - 35 $75M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (42%) - 13 (37%) -
Secondary Buyout 1 (8%) - 6 (17%) -
Divestiture 1 (8%) - 5 (14%) 75M (100%)
Growth Capital 4 (33%) - 5 (14%) -
Recapitalization - - 2 (6%) -
Consolidation - - 1 (3%) -
Going Private - - 1 (3%) -
Special Situations/Distressed 1 (8%) - 1 (3%) -
Stake Purchase - - 1 (3%) -
Total 12 - 35 $75M

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (33%) -
Trade Sale 8 (33%) -
Trade Sale - Public Company 5 (21%) 3.6B (100%)
IPO 2 (8%) -
Bankruptcy 1 (4%) -
Total 24 $3.6B

Top M&A Advisors

Financial Deals
William Blair & Co. LLC
1
BMO Capital Markets
1
Legal Deals
Torys LLP
2
Stikeman Elliott LLP
2
MLT Aikins LLP
1

Deal Values

buy # Total
< $100M 1 $75M
TOTAL $75M
Largest Pinova, Inc.
$75M (2009-12-15)
sell # Total
> $1B 1 $1.9B
$100M to $1B 4 $1.7B
TOTAL $3.6B
Largest Barrette Outdoor Living, Inc.
$1.9B (2022-06-03)

M&A Connections

Deals
Acquired from
Investor(s)
14%
5 (14%)
Strategic(s)
11%
4 (11%)
Exited to
Investor(s)
33%
8 (33%)
Strategic(s)
50%
12 (50%)

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