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M&A Deal Summary

Hillcore Group Acquires CEDA

On June 18, 2024, asset manager Hillcore Group acquired energy services and equipment company CEDA from OMERS Private Equity

Acquisition Highlights
  • This is Hillcore Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is Hillcore Group’s 16th transaction in Canada.
  • This is Hillcore Group’s 10th transaction in Alberta.

M&A Deal Summary
Date 2024-06-18
Target CEDA
Sector Energy Services and Equipment
Buyer(s) Hillcore Group
Sellers(s) OMERS Private Equity
Deal Type Secondary Buyout

Target

CEDA

Calgary, Alberta, Canada
CEDA is specializes in industrial maintenance, turnaround, and environmental services. The company provides world-class solutions to help clients maximize production, mitigate risk, and avoid costly outages, always with safety top of mind. It operates across North America delivering more than 120 distinct services and products to support oil and gas, pipeline, power, pulp and paper, chemical, mining, and steel industrial facilities. CEDA was formed in 1973 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Hillcore Group

Toronto, Ontario, Canada
Category Asset Manager
Founded 2005
Size Large
Type Sector Focused
DESCRIPTION

Hillcore Group is a diversified Canadian investment and advisory firm. Hillcore operates through a variety of sector specific investment groups. These include life science, real estate, senior living, financial services, technology, industrial, energy, and agriculture. Hillcore will consider a variety of acquisition situations but generally prefers to partner with management in support of buyouts or buy-ins. Hillcore also considers shareholder liquidity situations. Hillcore Group was formed in 2005 and is based in Toronto.

DEAL STATS #
Overall 16 of 16
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Alberta) 10 of 10
Country (Canada) 16 of 16
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-15 Midlite Construction

McMurray, Alberta, Canada

Midlite Construction specializes in powerline construction and maintenance across Alberta, the Yukon, the Northwest Territories, British Colombia, and Saskatchewan. From design, to procurement, construction, and maintenance, Midlite is a full-service, end-to-end EPC utility contractor. Midlite Construction was founded in 1989 and is based in McMurray, Alberta.

Buy -

Seller(S) 1

SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 27.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.

DEAL STATS #
Overall 32 of 32
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 17 of 17
State (Alberta) 1 of 1
Country (Canada) 12 of 12
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-17 V.Group

London, United Kingdom

V.Group provides mission-critical services to its customers, such as technical ship management, crew management, crew welfare services (e.g. catering, travel, and digital wallets & payment cards), leveraged procurement, technical services, specialist insurance broking, and modern shipping-specific digital solutions. V.Group was founded in 1984 and is headquartered in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Integris

Cranbury Township, New Jersey, United States

Integris is a managed IT services provider, dedicated to helping our customers stay one step ahead of their IT infrastructure and data safety needs. The company offers strategic IT consulting services, hardware and software management, networking, a 24/7 service desk, on-site troubleshooting/installations, cybersecurity monitoring, backup solutions, and more. Integris was founded in 1997 and is based in Cranbury Township, New Jersey.

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