M&A Deal Summary

Exchange Income Acquires Northern Mat & Bridge

On May 11, 2022, Exchange Income acquired building materials company Northern Mat & Bridge from TriWest Capital Partners

Acquisition Highlights
  • This is Exchange Income’s 1st transaction in the Building Materials sector.
  • This is Exchange Income’s 11th transaction in Canada.
  • This is Exchange Income’s 3rd transaction in Alberta.

M&A Deal Summary
Date 2022-05-11
Target Northern Mat & Bridge
Sector Building Materials
Buyer(s) Exchange Income
Sellers(s) TriWest Capital Partners
Deal Type Add-on Acquisition

Target

Northern Mat & Bridge

Grande Prairie, Alberta, Canada
Northern Mat & Bridge is a provider of safe, cost effective temporary access products and solutions for energy industries across North America. Northern Mat & Bridge was founded in 1999 and is based in Grande Prairie, Alberta.

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Buyer(S) 1

Buyer

Exchange Income

Winnipeg, Manitoba, Canada
Category Company
Founded 2002
Sector Diversified
Employees4,340
Revenue 2.5B CAD (2023)
DESCRIPTION

Exchange Income is a diversified acquisition-oriented company, focused in three sectors: aviation services and equipment, metal manufacturing, and infrastructure services. The Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters and Regional One. The Manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, and Stainless Fabrication. The Infrastructure segment consists of the operation of WesTower Communications (Canada). Exchange Income was founded in 2002 and is based in Winnipeg, Canada.

DEAL STATS #
Overall 15 of 19
Sector (Building Materials) 1 of 3
Type (Add-on Acquisition) 15 of 19
State (Alberta) 3 of 3
Country (Canada) 11 of 13
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Crew Training International

Memphis, Tennessee, United States

Crew Training International develops advanced training solutions for the US Department of Defense, government, and commercial training programs. The company specializes in pilot and sensor operator crew training on both manned and unmanned military aircraft for the US Department of Defense. Crew Training International was formed in 1992 and is based in Memphis, Tennessee.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 BVGlazing Systems

New York, New York, United States

BVGlazing Systems is a manufacturer of unitized window wall, stick curtain wall, unitized curtain wall, and railing systems used in mid-rise and high-rise multi-residential mixed used developments. These products are manufactured in its facilities in Concord and Niagara Falls, ON and installed onsite in many major North American urban markets. BVGlazing Systems was founded in 1958 and is based in New York City.

Buy $95M

Seller(S) 1

SELLER

TriWest Capital Partners

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TriWest Capital Partners is a Canadian private equity firm focused on investments in established companies operating in a variety of industries. Broad areas of interest include the distribution, manufacturing, and service sectors. TriWest targets mid-sized, profitable companies with EBITDA of $10 to $100 million. Prospective transaction types include management buyouts, growth capital financings, generational transfers, corporate divestitures, and special situations. TriWest will not invest in real estate, technology and primary resource development. TriWest Capital Partners was formed in 1998 and is based in Calgary.

DEAL STATS #
Overall 26 of 29
Sector (Building Materials) 3 of 4
Type (Add-on Acquisition) 8 of 11
State (Alberta) 12 of 15
Country (Canada) 24 of 27
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 California TrusFrame

Murrieta, California, United States

California TrusFrame is a designer and manufacturer of prefabricated structural building components (including roof trusses, floor trusses, and wall panels), supplying home builders, framers, and general contractors across single-family and multi-family end markets throughout California. California TrusFrame was established in 1982 and is based in Murrieta, California.

Sell $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 Kidoodle.TV

Calgary, Alberta, Canada

Kidoodle.TV is a Safe Streaming service committed to providing children with a safe alternative to stream their favorite TV shows and movies. Available in over 160 countries and territories on thousands of connected devices, it provides peace of mind, with every show vetted by caring people who are committed to Safe and Free Streaming for Kids. Kidoodle.TV was founded in 2012 and is based in Calgary, Alberta.

Buy -
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