M&A Deal Summary

OMERS Infrastructure Acquires Teranet

On October 28, 2008, infrastructure investor OMERS Infrastructure acquired business services company Teranet from Whitecap Venture Partners

Acquisition Highlights
  • This is OMERS Infrastructure’s 1st transaction in the Business Services sector.
  • This is OMERS Infrastructure’s 12th transaction in Canada.
  • This is OMERS Infrastructure’s 9th transaction in Ontario.

M&A Deal Summary
Date 2008-10-28
Target Teranet
Sector Business Services
Buyer(s) OMERS Infrastructure
Sellers(s) Whitecap Venture Partners
Deal Type Secondary Buyout

Target

Teranet

Toronto, Ontario, Canada
Teranet is a provider of systemically important electronic property search and registration services under long-term concessions in Ontario and Manitoba. Teranet was founded in 1991 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

OMERS Infrastructure

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 1990
Size Mega
Type Sector Focused
DESCRIPTION

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.

DEAL STATS #
Overall 16 of 52
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 11
State (Ontario) 9 of 10
Country (Canada) 12 of 14
Year (2008) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-13 Oncor Electric Delivery

Dallas, Texas, United States

Oncor Electric Delivery Company LLC is the largest electricity transmission and distribution company in Texas, and one of the largest in the US. Oncor Electric Delivery was founded in 2001 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Airports Worldwide

Sanford, Florida, United States

Airports Worldwide, Inc. is a top-tier company recognized for maintaining the highest standards and practices in airport investments, development and operations. Our proven expertise in the daily management of domestic and international commercial airports provides our partners the greatest return on their investments.

Buy -

Seller(S) 1

SELLER

Whitecap Venture Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1993
PE ASSETS 225M CAD
Size Small
Type Sector Focused
DESCRIPTION

Whitecastle Private Equity Partners (WPEP) is the private equity arm of Whitecastle Investments, a firm which also provides venture capital financing. WPEP looks to invest C$5 to C$25 million to help fund buyouts, acquisitions, expansions, and privatizations of companies valued up to C$75 million. Target industries include food services, recycling and waste management, technology, healthcare services and products, financial services, and manufacturing. Whitecastle Private Equity Partners was formed in 1958 and is based in Toronto, Ontario.

DEAL STATS #
Overall 8 of 11
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Ontario) 4 of 6
Country (Canada) 8 of 10
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-30 Turtle Island Recycling

Toronto, Ontario, Canada

Turtle Island is one of the leading recycling and waste management companies in Ontario. Established in 1990 by entrepreneurs Ted Manziaris and Louis Anagnostakos, Turtle Island now employs over 250 people and services over 2,000 industrial and commercial customers and over 220,000 residential customers and growing. The operations of Turtle Island as well as its main transfer station are located in a 60,000 square foot facility in downtown Toronto. Turtle Island now operates facilities in Aurora, Chatham/Windsor and Caledon/Orangeville, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Turtle Island Recycling

Toronto, Ontario, Canada

Turtle Island is one of the leading recycling and waste management companies in Ontario. Established in 1990 by entrepreneurs Ted Manziaris and Louis Anagnostakos, Turtle Island now employs over 250 people and services over 2,000 industrial and commercial customers and over 220,000 residential customers and growing. The operations of Turtle Island as well as its main transfer station are located in a 60,000 square foot facility in downtown Toronto. Turtle Island now operates facilities in Aurora, Chatham/Windsor and Caledon/Orangeville, Ontario.

Sell -
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