M&A Deal Summary

OMERS Private Equity, Yellow Point Equity Partners and Penfund Acquire CBI Health

On January 4, 2011, private equity firm OMERS Private Equity, private equity firm Yellow Point Equity Partners and mezzanine finance firm Penfund acquired healthcare services company CBI Health from Clearspring Capital Partners

Acquisition Highlights
  • This is OMERS Private Equity’s 1st, Yellow Point Equity Partners’ 2nd and Penfund’s 1st transaction in the Healthcare Services sector.
  • This is OMERS Private Equity’s 11th, Yellow Point Equity Partners’ 10th and Penfund’s 7th transaction in Canada.
  • This is OMERS Private Equity’s 8th, Yellow Point Equity Partners’ 3rd and Penfund’s 6th transaction in Ontario.

M&A Deal Summary

Date 2011-01-04
Target CBI Health
Sector Healthcare Services
Buyer(s) OMERS Private Equity
Yellow Point Equity Partners
Penfund
Sellers(s) Clearspring Capital Partners
Deal Type Secondary Buyout

Target

CBI Health

Toronto, Ontario, Canada
CBI Health is a provider of integrated health care services nationwide, offering comprehensive services in physiotherapy, occupational, behavioral and exercise therapies, as well as physician, chiropractic, psychology, nursing, speech, massage, home health and eldercare services. CBI Health was founded in 1974 and is based in Toronto, Ontario.

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Buyer(S) 3

Buyer

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 27.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.


DEAL STATS #
Overall 19 of 57
Sector: Healthcare Services M&A 1 of 9
Type: Secondary Buyout M&A Deals 5 of 34
State: Ontario M&A 8 of 11
Country: Canada M&A 11 of 14
Year: 2011 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-16 LGI Healthcare Solutions

Montreal, Quebec, Canada

LGI Healthcare Solutions deploys information systems that span the clinical, operational, and business needs of complex healthcare organizations. LGI Healthcare Solutions was founded in 1982 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-03 Husky

Bolton, Ontario, Canada

Husky is a global supplier of injection molding equipment and services to the plastics industry. The company has more than 40 service and sales offices, supporting customers in over 100 countries. Husky’s manufacturing facilities are located in Canada, the United States, Luxembourg, Austria, Switzerland, China, India and the Czech Republic. Husky was founded in 1953 and is based in Bolton, Ontario.

Buy -
Buyer

Yellow Point Equity Partners

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Yellow Point Equity Partners is a private equity group focused on management buyouts and growth investments in mid-sized companies located in Western Canada and the Northwest of the US. Yellow Point will consider opportunities in a wide range of sectors, including basic manufacturing, technology, communications, energy, financial, healthcare, and services. The Firm 'gravitates' towards businesses with established market positions and 'compelling' products. Yellow Point Equity Partners was formed in 2004 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 10 of 27
Sector: Healthcare Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Ontario M&A 3 of 5
Country: Canada M&A 10 of 26
Year: 2011 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-15 Steel Pacific Recycling

Victoria, British Columbia, Canada

Steel Pacific Recycling is a recycling company focused on procuring both ferrous and non-ferrous metals from over 700 industrial suppliers. The materials are delivered to its processing site, where they are shredded and then shipped to U.S. and Asian markets to be used as feedstock in the re-manufacturing of new steel products. Steel Pacific Recycling is based in Victoria, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-31 Mr. Mikes Steakhouse and Bar

Burnaby, British Columbia, Canada

Mr. Mikes Steakhouse and Bar is an operator of casual dining chains in western Canada. The brand has been transformed in the last couple of years and focuses on providing a mid-priced steakhouse alternative. The concept is popular in smaller communities like Fort St. John and Grande Prairie, as well as suburban locations such as Surrey and Sherwood Park. Mr. Mikes Steakhouse and Bar was founded in 1960 and is based in Burnaby, British Columbia.

Sell -
Buyer

Penfund

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1979
PE ASSETS 2.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Penfund is a private investment firm that provides equity, junior capital, and alternative financing to Canadian-based middle-market companies with EBITDA of at least C$20 million. Penfund can commit up to C$225 million per transaction. Penfund does not have any industry preferences and its investments are generally used to support growth needs, recapitalization, shareholder liquidity, acquisitions, and buyouts. Penfund was formed in 1979 and is based in Toronto.


DEAL STATS #
Overall 8 of 28
Sector: Healthcare Services M&A 1 of 5
Type: Secondary Buyout M&A Deals 2 of 12
State: Ontario M&A 6 of 10
Country: Canada M&A 7 of 14
Year: 2011 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-31 Bluewave Energy

Dartmouth, Nova Scotia, Canada

Bluewave Energy operates as a petroleum delivery company in Canada. It delivers furnace oil, diesel oil, dyed diesel oil, gasoline, Shell lubricants, marine gas oil, and heavy fuel oil to commercial and residential customers, as well as asphalt to highway, street, and airport construction in Western Canada. The company also provides equipment service plans, heating equipment, and oil spill protection, as well as heating, air conditioning, and fuel storage equipment services and finance.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-02 Choice Environmental Services

Fort Lauderdale, Florida, United States

Choice Environmental Services, Inc. is a collector and processor of non-hazardous residential and commercial solid waste company.

Sell -

Seller(S) 1

SELLER

Clearspring Capital Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 600M CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Callisto Capital is a private equity firm focused on ownership/control investments and minority interests in both private and public companies. In addition to equity, Callisto also provides 'near equity' capital including sub-debt with warrants and convertible debt. Callisto's target investment size is between $20 and $50 million. Callisto Capital is based in Toronto, Canada.


DEAL STATS #
Overall 2 of 4
Sector: Healthcare Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Ontario M&A 2 of 3
Country: Canada M&A 2 of 4
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Medical Pharmacies

Markham, Ontario, Canada

Medical Pharmacies is a provider of clinical research, innovative technologies, educational programs, and exceptional service. Medical Pharmacies specialty pharmacy services include the provision of compounded intravenous therapies and other specialized drug therapies such as biologics and biosimilars. Medical Pharmacies was founded in 1957 and is based in Markham, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-14 Town Shoes

Downsview, Ontario, Canada

Town Shoes Limited is a specialty retailer focused on branded footwear products in Canada with 116 stores across Canada. Town Shoes stores are located in leading shopping centres and cater to fashionable customers who seek the latest styles from the world's leading footwear brands. Town also operates under The Shoe Company banner, which offers a wide selection of branded footwear for the whole family at attractive prices.

Buy -