M&A Deal Summary

Forage Capital Partners and Roynat Capital Acquire S3 Enterprises

On March 1, 2021, growth capital firms Forage Capital Partners and Roynat Capital acquired machinery company S3 Enterprises

Acquisition Highlights
  • This is Forage Capital Partners’ 1st and Roynat Capital’s 2nd transaction in the Machinery sector.
  • This is Forage Capital Partners’ 3rd and Roynat Capital’s 8th transaction in Canada.
  • This is Forage Capital Partners’ 1st and Roynat Capital’s 1st transaction in Saskatchewan.

M&A Deal Summary

Date 2021-03-01
Target S3 Enterprises
Sector Machinery
Buyer(s) Forage Capital Partners
Roynat Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

S3 Enterprises

Swift Current, Saskatchewan, Canada
S3 Enterprises is a manufacturer of equipment, component parts, and air systems for the agricultural industry. S3 Enterprises was founded in 1966 and is based in Swift Current, Saskatchewan.

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Buyer(S) 2

DESCRIPTION

Forage Capital Partners is a private investment firm focused on the agriculture and food industry. The Firm looks to provide growth capital and subordinated and will consider businesses throughout Canada. Specific areas of interest include crop inputs, food production/processing, equipment manufacturing, and branded food companies. Forage Capital Partners is headquartered in Calgary, Alberta.


DEAL STATS #
Overall 3 of 8
Sector (Machinery) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Saskatchewan) 1 of 2
Country (Canada) 3 of 8
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-24 Mother Raw

North York, Ontario, Canada

Mother Raw is a manufacture of line of fresh, consciously crafted and delicious plant-powered dressings, marinades, dips, condiments and quesos. Mother Raw offers an impressive variety of 20 delicious, refrigerated dressings to help make eating more plants more tasty, convenient, and versatile. Mother Raw is based in North York, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-16 Red Dog Blue Kat

Port Coquitlam, British Columbia, Canada

Red Dog Blue Kat is a manufacturer of raw pet food and treats under the Red Dog Blue Kat brand. Red Dog has provided pet parents with wholesome nutrition solutions for pets of every size and breed. Red Dog Blue Kat was founded in 2004 and is based in Port Coquitlam, British Columbia.

Buy -
Buyer
DESCRIPTION

Roynat Capital is an investment arm within Canada-based bank Scotiabank that looks to provide capital to middle-market businesses for growth and/or liquidity needs. The Firm looks to invest $5 to $20 million for minority stakes in profitable businesses with minimum EBITDA of $2 million. Roynat is sector agnostic and can invest a variety of capital, including common equity, preferred equity, and convertible debt. Roynat Capital is based in Calgary, Alberta.


DEAL STATS #
Overall 8 of 13
Sector (Machinery) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 5 of 6
State (Saskatchewan) 1 of 2
Country (Canada) 8 of 13
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Ansan Group

Richmond, British Columbia, Canada

Ansan Group is a provider of traffic management and control services. Ansan provides traffic control personnel, lane closure services, traffic permits, and traffic management plans, road maintenance, and landscaping/vegetation management services. Ansan Group was founded in 1978 and is based in Richmond, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-14 Surface Hair

Saskatoon, Saskatchewan, Canada

Surface Hair is committed to developing natural and organic ingredients for their hair care products in a cruelty free manner. Surface supports a culture of education, guest service know-how, and technical expertise to its salon network partners and other distribution channels. Surface Hair was founded in 2008 and is based in Saskatoon, Saskatchewan.

Buy -