M&A Deal Summary

Astatine Investment Partners Acquires McKeil

On November 3, 2023, infrastructure investor Astatine Investment Partners acquired transportation company McKeil from TorQuest Partners

Acquisition Highlights
  • This is Astatine Investment Partners’ 2nd transaction in the Transportation sector.
  • This is Astatine Investment Partners’ 2nd transaction in Canada.
  • This is Astatine Investment Partners’ 2nd transaction in Ontario.

M&A Deal Summary

Date 2023-11-03
Target McKeil
Sector Transportation
Buyer(s) Astatine Investment Partners
Sellers(s) TorQuest Partners
Deal Type Secondary Buyout

Target

McKeil

Burlington, Ontario, Canada
McKeil is a marine transportation company delivering turnkey solutions to customers with a wide range of transportation and project requirements. McKeil was founded in 1956 and is based in Burlington, Ontario.

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Buyer(S) 1

Buyer

Astatine Investment Partners

Greenwich, Connecticut, United States

Category Infrastructure
Founded 2005
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Astatine Investment Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Astatine Investment Partners looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Astatine Investment Partners was formed in 2005 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 23 of 24
Sector: Transportation M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 11
State: Ontario M&A 2 of 2
Country: Canada M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Everfast Fiber Networks

Lenexa, Kansas, United States

Everfast Fiber Networks offers high speed data/internet, network access, voice, and video/ cable TV services. Everfast Fiber Networks is based in Lenexa, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-24 NRG Riverside

Lancashire, United Kingdom

NRG Riverside is a rental provider of specialist waste collection vehicles serving communities in the UK directly and indirectly in providing waste collection vehicles under long-term contracts and on a rental basis. The Company has an integrated offering of lease or rental of vehicles, repair and maintenance, and regulatory compliance services, which is highly valued by customers and generates high levels of contract renewals and recurring revenues. NRG Riverside was formed in 1996 and is based in Lancashire, United Kingdom.

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 26 of 27
Sector: Transportation M&A 3 of 3
Type: Secondary Buyout M&A Deals 10 of 10
State: Ontario M&A 11 of 12
Country: Canada M&A 20 of 21
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 Brimich Logistics

Brantford, Ontario, Canada

Brimich Logistics is a full-service, family owned, and operated supply chain management and third-party logistics. Brimich Logistics was founded in 1997 and is based in Brantford, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-10 Onyx-Fire

Mississauga, Ontario, Canada

Onyx-Fire is a fire and life safety services provider, offering inspection, service and repair, and installation fire and life safety solutions to a diverse array of end markets. Onyx-Fire was founded in 1988 and is headquartered in Mississauga, Ontario.

Sell -