M&A Deal Summary

InstarAGF Asset Management Acquires PRT

On April 1, 2021, asset manager InstarAGF Asset Management acquired business services company PRT from TriWest Capital Partners

Acquisition Highlights
  • This is InstarAGF Asset Management’s 2nd transaction in the Business Services sector.
  • This is InstarAGF Asset Management’s 4th transaction in Canada.
  • This is InstarAGF Asset Management’s 2nd transaction in British Columbia.

M&A Deal Summary
Date 2021-04-01
Target PRT
Sector Business Services
Buyer(s) InstarAGF Asset Management
Sellers(s) TriWest Capital Partners
Deal Type Secondary Buyout

Target

PRT

Victoria, British Columbia, Canada
PRT is the producer of container-grown forest seedlings in North America. Forest seedlings are used to replant forests after timber is harvested. The company has the capacity to custom grow more than 180 million seedlings per year at 13 nurseries located in Canada and the United States. It also provides a variety of ancillary services to support the reforestation needs of its customers. PRT was founded in 1988 and is based in Victoria, British Columbia.

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Buyer(S) 1

Buyer

InstarAGF Asset Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

InstarAGF Asset Management, Inc. is an independent alternative asset management firm focused on the North American middle-market companies. Prospective transaction types include management buyouts and growth financings. Sectors of interest include business services, infrastructure, real estate, and utilities. InstarAGF was formed in 2014 and is based in Toronto, Ontario.

DEAL STATS #
Overall 8 of 10
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 4 of 5
State (British Columbia) 2 of 2
Country (Canada) 4 of 5
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 LS Networks

Portland, Oregon, United States

LS Networks is a provider of local exchange and interexchange carrier. LS Networks was founded in 2005 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Windmill Farms

Ashburn, Ontario, Canada

Windmill Farms operates of farms specializing in the production of mushrooms. Windmill Farms is based in Ashburn, Ontario.

Buy -

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 23 of 29
Sector (Business Services) 2 of 3
Type (Secondary Buyout) 4 of 5
State (British Columbia) 5 of 5
Country (Canada) 23 of 27
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 International Fitness Holdings

Calgary, Alberta, Canada

International Fitness Holdings is a health club operator offering a variety of health-related services including flexible gym membership options, dynamic group exercise classes, personal training, and athletic therapy. International Fitness Holdings is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-19 Supreme International

Wetaskiwin, Alberta, Canada

Supreme International is a manufacturer of feed mixers for the dairy and beef industries. It manufactures cutter-mixer-feeder and ancillary equipment which allow customers to maximize the productivity of their dairy or beef operations by optimizing the mix of feed provided to their livestock. Supreme offers approximately 50 different models in a variety of configurations, such as pull-type, truck mount, self-propelled and stationary units. Supreme International was founded in 1953 and is based in Wetaskiwin, Alberta.

Buy -
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