M&A Deal Summary

AIMCo Acquires Cando Rail & Terminals

On July 20, 2022, pension AIMCo acquired infrastructure company Cando Rail & Terminals from TorQuest Partners

Acquisition Highlights
  • This is AIMCo’s 1st transaction in the Infrastructure sector.
  • This is AIMCo’s 5th transaction in Canada.
  • This is AIMCo’s 1st transaction in Manitoba.

M&A Deal Summary

Date 2022-07-20
Target Cando Rail & Terminals
Sector Infrastructure
Buyer(s) AIMCo
Sellers(s) TorQuest Partners
Deal Type Secondary Buyout
Advisor(s) Wells Fargo Securities (Financial)
Torys
MLT Aikins (Legal)

Target

Cando Rail & Terminals

Brandon, Manitoba, Canada
Cando Rail & Terminals design, build, operate, finance, and maintain rail solutions. Cando Rail & Terminals provides Sophisticated tracking and analytics, inventory management, and scheduled maintenance programs. Cando Rail & Terminals was founded in 1978 and is based in Brandon, Manitoba.

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Buyer(S) 1

Buyer

AIMCo

Investor Investor Investor Investor Investor


Category Pension
Founded 2008
PE ASSETS 179.6B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

AIMCo is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 35 of 40
Sector: Infrastructure M&A 1 of 1
Type: Secondary Buyout M&A Deals 12 of 15
State: Manitoba M&A 1 of 1
Country: Canada M&A 5 of 5
Year: 2022 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-21 Emmes

Rockville, Maryland, United States

Emmes is a global, tech-enabled full-service clinical research organization (CRO) platform dedicated to supporting the advancement of public health and biopharmaceutical innovation. Emmes was founded in 1977 and is based in Rockville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Octus

New York, New York, United States

Octus is a provider of real-time news, commentary, and analysis on issues affecting the distressed debt, event-driven, and leveraged finance markets. Octus was founded in 2013 and is based in New York, New York.

Buy -

Seller(S) 1

SELLER

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 STATS #
Overall 24 of 27
Sector: Infrastructure M&A 1 of 1
Type: Secondary Buyout M&A Deals 9 of 10
State: Manitoba M&A 1 of 1
Country: Canada M&A 18 of 21
Year: 2022 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 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.

Sell $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 S.i. Systems

Calgary, Alberta, Canada

S.i. Systems is an IT staffing company that uses a proprietary web-based match-making solution called MatchGuide to provide precision contract and permanent placements for IT professionals across Canada. S.i. Systems was founded in 1994 and is based in Calgary, Alberta.

Buy -