M&A Deal Summary

New Mountain Capital and Alberta Investment Management Acquire Azuria

On February 16, 2021, private equity firm New Mountain Capital and pension Alberta Investment Management acquired engineering company Azuria for 963M USD

Acquisition Highlights
  • This is New Mountain Capital’s 3rd and Alberta Investment Management’s 1st transaction in the Engineering sector.
  • This is New Mountain Capital’s 6th and Alberta Investment Management’s 7th largest (disclosed) transaction.
  • This is New Mountain Capital’s 69th and Alberta Investment Management’s 11th transaction in the United States.
  • This is New Mountain Capital’s 2nd and Alberta Investment Management’s 1st transaction in Missouri.

M&A Deal Summary
Date 2021-02-16
Target Azuria
Sector Engineering
Buyer(s) New Mountain Capital
Alberta Investment Management
Deal Type Going Private
Deal Value 963M USD
Advisor(s) Centerview Partners (Financial)
Shearman & Sterling (Legal)

Target

Azuria

St. Louis, Missouri, United States
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.
Azuria engages in infrastructure protection and provides proprietary technologies and services for the corrosion protection of industrial pipelines and for rehabilitating and strengthening sewer, water, energy, and mining piping systems, buildings, bridges and tunnels, and waterfront structures. Azuria was formed in 1971 and is based in St. Louis, Missouri.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 73 of 95
Sector (Engineering) 3 of 4
Type (Going Private) 3 of 3
State (Missouri) 2 of 2
Country (United States) 69 of 90
Year (2021) 2 of 9
Size (of disclosed) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Accolite Digital

Addison, Texas, United States

Accolite Digital is a provider of cloud and digital product engineering services across the banking and financial services, technology, healthcare, communications and media, and logistics industries. Headquartered in Addison, Texas, Accolite helps its customers successfully navigate their digital transformation journeys by providing digital product engineering, cloud services, data engineering, DevOps, customer experience, and design services. With over 1,600 professionals globally, Accolite has a presence across the United States, Canada, and Europe and has digital labs in Bangalore, Hyderabad, Gurugram, and Chennai.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 HomeX

Manteca, California, United States

HomeX is a home services platform for both homeowners and service providers, improving the complex and fragmented home services industry. HomeX is making home maintenance less complicated for homeowners by providing quick, trusted solutions for issues that arise related to heating, cooling, plumbing, electrical systems and appliances.

Buy -
Buyer

Alberta Investment Management

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 24 of 30
Sector (Engineering) 1 of 1
Type (Going Private) 2 of 3
State (Missouri) 1 of 1
Country (United States) 11 of 15
Year (2021) 2 of 6
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 Recipharm

Stockholm, Sweden

Recipharm is a global Pharma CDMO providing a full-service offering to leading Pharmaceutical companies and Biotechs globally. Recipharm was founded in 1995 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-11 Hayward Industries

Charlotte, North Carolina, United States

Hayward Industries is a manufacturer of residential and commercial pool equipment and industrial flow control products. Hayward markets a full line of energy efficient pool and spa equipment including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety, and flow control products. Hayward Industries was incorporated in 1925 and is based in Charlotte, North Carolina.

Sell -
Mergr

Product

Company

Legal