M&A Deal Summary

CDPQ, Novacap and General Atlantic Acquire Plusgrade

On November 28, 2018, asset manager CDPQ, private equity firm Novacap and growth capital firm General Atlantic acquired business services company Plusgrade from TA Associates

Acquisition Highlights
  • This is CDPQ’s 4th, Novacap’s 1st and General Atlantic’s 20th transaction in the Business Services sector.
  • This is CDPQ’s 27th, Novacap’s 29th and General Atlantic’s 5th transaction in Canada.
  • This is CDPQ’s 25th, Novacap’s 25th and General Atlantic’s 1st transaction in Quebec.

M&A Deal Summary
Date 2018-11-28
Target Plusgrade
Sector Business Services
Buyer(s) CDPQ
Novacap
General Atlantic
Sellers(s) TA Associates
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley (Financial)
Davies Ward Phillips & Vineberg (Legal)

Target

Plusgrade

Montreal, Quebec, Canada
Plusgrade provides revenue solutions to airline, hospitality, cruise, passenger rail, and financial services companies. Plusgrade was founded in 2009 and is based in Montreal, Quebec.

Search 200,577 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 3

Buyer

CDPQ

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.

DEAL STATS #
Overall 56 of 101
Sector (Business Services) 4 of 7
Type (Secondary Buyout) 15 of 20
State (Quebec) 25 of 44
Country (Canada) 27 of 47
Year (2018) 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 KDC/ONE

Longueuil, Quebec, Canada

KDC/ONE is a custom innovator, formulator and manufacturer serving the prestige beauty, personal care, and household sectors. KDC/ONE was established in 2002 and is based in Longueuil, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 PharmEasy

Mumbai, India

PharmEasy is - Pharmacy made Easy. PharmEasy help patients connect with local pharmacy stores and diagnostic centres in order to fulfil their extensive medical needs. PharmEasy was founded in 2015 and is based in Mumbai, India.

Buy -
Buyer

Novacap

Brossard, Quebec, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 8.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.

DEAL STATS #
Overall 41 of 65
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 5 of 9
State (Quebec) 25 of 33
Country (Canada) 29 of 43
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 KDC/ONE

Longueuil, Quebec, Canada

KDC/ONE is a custom innovator, formulator and manufacturer serving the prestige beauty, personal care, and household sectors. KDC/ONE was established in 2002 and is based in Longueuil, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 Onstream Pipeline Inspection

Calgary, Alberta, Canada

Onstream Pipeline Inspection provides pipeline inspection results to oil & gas producers and pipeline operators working in the North American marketplace, with a focus on continual technological and software advancement. Onstream Pipeline Inspection was founded in 2005 and is based in Calgary, Alberta.

Sell -
Buyer

General Atlantic

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 209 of 341
Sector (Business Services) 20 of 23
Type (Secondary Buyout) 19 of 25
State (Quebec) 1 of 1
Country (Canada) 5 of 5
Year (2018) 25 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-27 QuintoAndar

Sao Paulo, Brazil

QuintoAndar platform offers a straightforward, simple and efficient experience for landlords and tenants to enter into long-term residential rentals in Brazil. It allows tenants to browse high quality listings, book visits and close the deal effortlessly, doing away with red-tape. Transactions closed on the platform come with rental insurance and QuintoAndar processes all recurring payments. QuintoAndar was founded in 2013 and is based in Sao Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Zongteng

Fuzhou, China

Zongteng is a cross-border logistics service provider for E-commerce sellers in China. It offers end-to-end cross-border logistics and overseas warehousing services. It also operates an export e-commerce business focusing on categories such as auto parts and household products. Zongteng was founded in 2007 and is based in Fuzhou, China.

Buy -

Seller(S) 1

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 215 of 255
Sector (Business Services) 10 of 12
Type (Secondary Buyout) 35 of 49
State (Quebec) 2 of 2
Country (Canada) 5 of 5
Year (2018) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Edmunds GovTech

Northfield, New Jersey, United States

Edmunds GovTech provides fully-integrated software solutions designed specifically for local governments that are easy-to-use and feature-rich at a reasonable price. Edmunds GovTech was founded in 1972 and is based in Northfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Cast & Crew

Burbank, California, United States

Cast & Crew is a provider of software and services to the entertainment production industry. Cast & Crew's software products and services assist in the areas of payroll & human resources, accounting & financial, and workflow & productivity. Cast & Crew was founded in 1976 and is based in Burbank, California.

Buy -
Mergr

Product

Company

Legal