Buyout (LBO, MBO, MBI) • Environmental

Hillcore Group Acquires Whitewater

On September 7, 2023, asset manager Hillcore Group acquired environmental company Whitewater

Acquisition Context
  • This is Hillcore Group’s 1st transaction in the Environmental sector.
  • This is Hillcore Group’s 14th transaction in Canada.
  • This is Hillcore Group’s 8th transaction in Alberta.

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M&A Deal Summary

Date September 7, 2023
Target Whitewater
Sector Environmental
Buyer(s) Hillcore Group
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Whitewater

Calgary, Alberta, Canada
Whitewater is a provider of water management and environmental solutions for western Canadian energy producers. Whitewater provides industry and governments with customized industrial fluid management solutions including supply, transport, reuse and disposal. Whitewater was founded in 2008 and is based in Calgary, Alberta.
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Buyer Overview 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 Context for Buyer #
Overall 14 of 16
Sector: Environmental 1 of 1
Type: Buyout (LBO, MBO, MBI) 11 of 12
State: Alberta 8 of 10
Country: Canada 14 of 16
Year: 2023 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-12 Ruskin Construction

Prince George, British Columbia, Canada

Ruskin Construction provides construction services to clients across North America. The company specializes in temporary resource bridges, as well as permanent and highway structures, a variety of foundation options, marine construction, railway refurbishment, aerial pipeline installation, and heavy civil construction. Ruskin Construction was formed in 1989 and is based in Prince George, British Columbia.

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FOLLOWING 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 -