Investment Summary

EdgeStone Capital Partners and Francisco Partners Invest In Mitel

On April 23, 2004, private equity firms EdgeStone Capital Partners and Francisco Partners invested in communications company Mitel

Investment Highlights
  • This is EdgeStone Capital Partners’ 1st and Francisco Partners’ 1st transaction in the Communications sector.
  • This is EdgeStone Capital Partners’ 6th and Francisco Partners’ 1st transaction in Canada.
  • This is EdgeStone Capital Partners’ 5th and Francisco Partners’ 1st transaction in Ontario.
Investment Fate
  • Mitel was sold to a financial buyer in 2018 for 2.0B USD.

Investment Summary

Date 2004-04-23
Target Mitel
Sector Communications
Investor(s) EdgeStone Capital Partners
Francisco Partners
Deal Type PIPE

Target

Mitel

Ottawa, Ontario, Canada
Mitel is a telecommunications company providing voice and unified communications services, with market-leading positions in unified communications-as-a-service (“UCaaS”) and customer-owned solutions. Mitel was founded in 1973 and is based in Ottawa, Ontario.

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Investor(S) 2

Investor

EdgeStone Capital Partners

Toronto, Ontario, Canada

Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

EdgeStone Capital Partners, Inc. is a private equity firm that targets middle market companies located in the Canada. The Firm targets to invest in companies with an EBITDA range $10 - $50 million and Enterprise value of $50 - $250 million. It seeks to invest in equity and equity related instruments and seeks to hold majority position and board seat in portfolio companies. Specific areas of interest include light manufacturing, business services, and consumer services. Type of transaction includes MBO, recapitalizations, growth capital, divestiture or non-core business and succession planning. EdgeStone Capital Partners, Inc. is based in Toronto, Ontario.


DEAL STATS #
Overall 6 of 24
Sector: Communications M&A 1 of 1
Type: PIPE M&A Deals 1 of 1
State: Ontario M&A 5 of 15
Country: Canada M&A 6 of 18
Year: 2004 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-07 Richards Packaging

Mississauga, Ontario, Canada

Richards Packaging is the largest rigid packaging distributor in Canada and the third largest in North America. Richards Packaging was incorporated in 1912 and is based in Mississauga, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-28 INEA

Toronto, Ontario, Canada

INEA Corporation provides enterprise planning, forecasting and reporting software solutions that meet the needs of the world's largest and most complex organizations who have multiple lines of business; geographies; product lines and customer segments. Co-developed with a leading financial institution, the INEA platform provides rich out-of-the-box functionally to meet the unique requirements of finance departments across all verticals. With its singular focus and demonstrated expertise in this market, INEA helps finance departments streamline their planning process, create confidence in numbers, and engage in "what if" scenario modeling. Today, more than 7,000 users in 44 countries rely on the INEA platform.

Buy -
Investor

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 10 of 160
Sector: Communications M&A 1 of 2
Type: PIPE M&A Deals 1 of 4
State: Ontario M&A 1 of 2
Country: Canada M&A 1 of 2
Year: 2004 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-02 XcelleNet

Atlanta, Georgia, United States

XcelleNet is the preeminent provider of software-based systems for managing remote and mobile networks and systems. XcelleNet products manage communications with fixed-site remote, mobile and extranet applications as well as wireless data-enabled devices such as interactive pagers, smart-phones and PDAs. FP sold XcelleNet to Sybase in April 2004 where it is now part of Sybase's iAnywhere division.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 NPTest

San Jose, California, United States

NPTest, Inc. design, development, and manufacture of semiconductor test and diagnostic systems. These devices range from microprocessors, graphics processors, chipsets, and devices for data transfer and communication applications to DVDs and set-top boxes used in consumer electronics.

Sell $600M