M&A Deal Summary

Brookfield Acquires Triton International

On April 12, 2023, Brookfield acquired transportation company Triton International from HarbourVest Partners, Vestar Capital Partners and Warburg Pincus for 13.3B USD

Acquisition Highlights
  • This is Brookfield’s 1st transaction in the Transportation sector.
  • This is Brookfield’s largest (disclosed) transaction.
  • This is Brookfield’s 1st transaction in Bermuda.

M&A Deal Summary

Date 2023-04-12
Target Triton International
Sector Transportation
Buyer(s) Brookfield
Sellers(s) HarbourVest Partners
Vestar Capital Partners
Warburg Pincus
Deal Type Add-on Acquisition
Deal Value 13.3B USD
Advisor(s) Goldman Sachs (Financial)
Sullivan & Cromwell (Legal)

Target

Triton International

Hamilton, Bermuda
Triton International engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. Triton International was founded in 1980 and is based in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Brookfield

Hamilton, Bermuda

Category Company
Founded 2007
Sector Utilities
Revenue 21.0B USD (2024)
DESCRIPTION

Brookfield operates long life, high quality infrastructure assets with high barriers to entry and low maintenance capital requirements that generate stable and growing cash flows. Brookfield was founded in 2007 and is based in Hamilton, Bermuda.


DEAL STATS #
Overall 6 of 8
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 4
Country: Bermuda M&A 1 of 1
Year: 2023 M&A 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 NGPL

Houston, Texas, United States

NGPL is a natural gas pipeline company and a transporter of natural gas, especially to the Chicago area market and the Gulf Coast, where it feeds LNG export facilities. NGPL provides access to all major supply basins through its own network and interconnections. NGPL is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Compass Datacenters

Dallas, Texas, United States

Compass Datacenters is a data center developer. Compass Datacenters provides enterprises, service providers, and hyperscale customers with solutions that reflect a dramatic change from conventional alternatives like wholesale colocation or traditional construction build-to-suits. Compass Datacenters was established in 2011 and is based in Dallas, Texas.

Buy -

Seller(S) 3

SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 133 of 150
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 54 of 62
Country: Bermuda M&A 1 of 2
Year: 2023 M&A 2 of 9
Size (of disclosed) 2 of 43
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 Sun King

Nairobi, Kenya

Sun King is an off-grid solar energy company with cutting-edge product design, affordable financing, and a grassroots installation model to provide energy to the 1.8 billion consumers across Africa and Asia who lack access to reliable electricity. Sun King was founded in 2007 and is based in Nairobi, Kenya.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-09 Mankind Pharma

New Delhi City, India

Mankind Pharma is a pharmaceutical company by number of prescriptions, and is 5th in the market by domestic sales. Mankind produces branded generic drugs sold throughout India, with a uniquely deep reach in rural and semi-urban markets. Mankind Pharma was founded in 1995 and is based in New Delhi, Haryana.

Sell -
SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 64 of 67
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 26 of 29
Country: Bermuda M&A 3 of 3
Year: 2023 M&A 1 of 2
Size (of disclosed) 1 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Titan Frozen Fruit

Santa Maria, California, United States

Titan Frozen Fruit is a strawberry ingredient processor specializing in California varieties of IQF (individual quick frozen), purees, concentrates and block frozen strawberry products. Titan Frozen Fruit was formed in 2014 and is based in Santa Maria, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 Don

Woodridge, Illinois, United States

Don is a distributor of food service equipment and supplies to all types of food service businesses including independent restaurants, national chains, health care, hospitality, country clubs, schools and universities, government institutions, and food service management. Don was formed in 1921 and is based in Woodridge, Illinois.

Sell -
SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 244 of 263
Sector: Transportation M&A 8 of 10
Type: Add-on Acquisition M&A Deals 85 of 95
Country: Bermuda M&A 2 of 2
Year: 2023 M&A 3 of 8
Size (of disclosed) 1 of 66
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Polyplus

Illkirch, France

Polyplus is a biotechnology company that supports Gene and Cell therapy, biologics manufacturing, and life science research with innovative nucleic acid transfection solutions. Polyplus was founded in 2001 and is based in Illkirch, France.

Sell €2.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-08 Simtra BioPharma Solutions

Deerfield, Illinois, United States

Simtra BioPharma Solutions partners with pharmaceutical companies to support their commercialization objectives by providing scientific expertise, sterile contract manufacturing solutions, parenteral delivery systems, and customized support services needed to meet the unique challenges that parenteral products face. Simtra BioPharma Solutions is based in Deerfield, Illinois.

Buy $4.3B