M&A Deal Summary

Astatine Investment Partners Acquires McKeil

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

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
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 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Alinda Capital Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Alinda 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. Alinda Capital Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 22 of 23
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 10 of 11
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 Howard Energy Partners

San Antonio, Texas, United States

Howard Energy Partners is an independent midstream energy company that owns and operates natural gas gathering lines, processing facilities, and pipelines, as well as oil gathering lines, a liquids stabilization plant, and bulk liquid storage terminals. Howard Energy Partners was founded in 2011 and is based in San Antonio, Texas.

Sell -
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

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 26
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 10 of 10
State (Ontario) 11 of 11
Country (Canada) 20 of 20
Year (2023) 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 -