M&A Deal Summary

InstarAGF Asset Management Acquires Skyservice

On September 26, 2017, asset manager InstarAGF Asset Management acquired aerospace company Skyservice from Fulcrum Capital Partners and CanGap Merchant Capital

Acquisition Highlights
  • This is InstarAGF Asset Management’s 1st transaction in the Aerospace sector.
  • This is InstarAGF Asset Management’s 2nd transaction in Canada.
  • This is InstarAGF Asset Management’s 1st transaction in Ontario.

M&A Deal Summary
Date 2017-09-26
Target Skyservice
Sector Aerospace
Buyer(s) InstarAGF Asset Management
Sellers(s) Fulcrum Capital Partners
CanGap Merchant Capital
Deal Type Secondary Buyout

Target

Skyservice

Toronto, Ontario, Canada
Skyservice operates three complementary divisions: Fixed-base operations (FBO), aircraft management services and aircraft maintenance. Skyservice manages the largest, most diverse fleet of aircraft in Canada and is frequently ranked as a top provider of FBO services by industry publications such as professional pilot magazine and aviation international news magazine. Skyservice was founded in 1986 and is based in Toronto, Ontario.

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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 2 of 10
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 1 of 5
State (Ontario) 1 of 2
Country (Canada) 2 of 5
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-20 Steel Reef

Calgary, Alberta, Canada

Steel Reef is a privately held mid-stream company targeting strategic small and mid-sized infrastructure projects focused on Western Canadian. Steel Reef was founded in 2012 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Jet Infrastructure

Highlands Ranch, Colorado, United States

Jet Infrastructure delivers comprehensive capacity solutions for the storage and distribution of aviation fuel for airports across North America. Jet Infrastructure was founded in 2018 and is based in Highlands Ranch, Colorado.

Buy -

Seller(S) 2

SELLER

Fulcrum Capital Partners

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 1.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Fulcrum Capital Partners is a private equity firm focused on middle-market company acquisitions in Canada. The Firm looks to invest $10 to $35 million in companies generating up to $250 million in revenue. Industries of interest include services, manufacturing, consumer products, distribution, food, and retail. Prospective transaction situations include successions, growth capital financings, consolidations, buyouts, take privates, and pre-IPO financings. Fulcrum Capital Partners was formed in 2011 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 6 of 18
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 1 of 4
State (Ontario) 3 of 10
Country (Canada) 6 of 18
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 Vitalus Nutrition

Abbotsford, British Columbia, Canada

Vitalus Nutrition is a provider of specialty cream and milk protein ingredients for the food, beverage, and nutraceutical industries. Vitalus’ products are used in various applications such as baking, confections, dairy products, snack foods, infant formula, protein drinks, nutrition bars and more. Vitalus Nutrition was founded in 1952 and is based in Abbotsford, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-31 Petrospec Engineering

Edmonton, Alberta, Canada

Petrospec Engineering is an engineering and field service company focused on designing, manufacturing and installing downhole pressure, temperature and flow monitoring equipment for thermal heavy oil applications. Petrospec also provides high technology production optimization systems such as electric heating and unique completions engineering solutions for unconventional oil and gas applications. Petrospec Engineering was founded in 1997 and is based in Edmonton, Alberta.

Sell -
SELLER

CanGap Merchant Capital

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-13 Skyservice

Toronto, Ontario, Canada

Skyservice operates three complementary divisions: Fixed-base operations (FBO), aircraft management services and aircraft maintenance. Skyservice manages the largest, most diverse fleet of aircraft in Canada and is frequently ranked as a top provider of FBO services by industry publications such as professional pilot magazine and aviation international news magazine. Skyservice was founded in 1986 and is based in Toronto, Ontario.

Buy -
Mergr

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