M&A Deal Summary

Headwater Equity Partners Acquires Frost Fighter

On October 1, 2014, private equity firm Headwater Equity Partners acquired manufacturer Frost Fighter from Ironbridge Equity Partners

Acquisition Highlights
  • This is Headwater Equity Partners’ 1st transaction in the Manufacturing sector.
  • This is Headwater Equity Partners’ 1st transaction in Canada.
  • This is Headwater Equity Partners’ 1st transaction in Manitoba.

M&A Deal Summary
Date 2014-10-01
Target Frost Fighter
Sector Manufacturing
Buyer(s) Headwater Equity Partners
Sellers(s) Ironbridge Equity Partners
Deal Type Secondary Buyout

Target

Frost Fighter

Winnipeg, Manitoba, Canada
Frost Fighter is a manufacturer of high-capacity portable heaters sold primarily into the North American equipment rental industry. The Company has a strong history of designing and manufacturing reliable equipment engineered for demanding applications in harsh environments. Frost Fighter was founded in 1965 and is based in Winnipeg, Manitoba.

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Buyer(S) 1

Buyer

Headwater Equity Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Headwater Equity Partners is a private equity firm focused on majority and minority investments in Western Canadian, lower middle-market companies. Headwater generally pursues companies with at least $10 million in revenue and $2 million of EBITDA. Headwater does not have any sector preferences and typically pursues companies with good margins and defensible market positions. Headwater Equity Partners was formed in 2010 and is headquartered in Vancouver, British Columbia.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Manitoba) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 1

Seller(S) 1

SELLER

Ironbridge Equity Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 700M CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironbridge Equity Partners (IEP) is a private equity investor in middle-market Canadian companies. IEP targets profitable companies with motivated management, 'history of positive earnings strong competitive positions within industry niche, and opportunities growth (organic or through acquisitions). IEP looks to invest at least $15 million in transactions valued up to $50 million. Areas of interest include manufacturing, distribution, consumer products/services, and business services. The Firm will not invest in real estate, natural resources, and technology. Ironbridge Equity Partners was formed in 2005 and is based in Toronto.

DEAL STATS #
Overall 3 of 12
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 2 of 6
State (Manitoba) 1 of 2
Country (Canada) 3 of 12
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-30 M&M Resources

Fort Nelson, British Columbia, Canada

M&M Resources is a provider of energy services business providing land clearing and trucking services for the oil and gas industry in northeast British Columbia and northwest Alberta. M&M Resources was founded in 2004 and is based in Fort Nelson, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-31 Alliance

Mississauga, Ontario, Canada

Alliance is a distributor and manufacturer of products and solutions including cabling, assemblies, antennas and related active and passive connectivity componentry to support wireless, broadband, broadcast and wireline networks for the North American market. Alliance is based in Mississauga, Ontario.

Buy -
Mergr

Product

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