M&A Deal Summary

Ontario Teachers Pension Plan and La Caisse Acquire Connexa

On July 11, 2022, pension Ontario Teachers Pension Plan and asset manager La Caisse acquired communications company Connexa from Spark New Zealand for 900M NZD

Acquisition Highlights
  • This is Ontario Teachers Pension Plan’s 4th and La Caisse’s 1st transaction in the Communications sector.
  • This is Ontario Teachers Pension Plan’s 24th and La Caisse’s 10th largest (disclosed) transaction.
  • This is Ontario Teachers Pension Plan’s 3rd and La Caisse’s 1st transaction in New Zealand.

M&A Deal Summary

Date 2022-07-11
Target Connexa
Sector Communications
Buyer(s) Ontario Teachers Pension Plan
La Caisse
Sellers(s) Spark New Zealand
Deal Type Divestiture
Deal Value 900M NZD

Target

Connexa

Auckland, New Zealand
Connexa is a specialist mobile tower infrastructure company, operating a nationwide portfolio of more than 2,400 mobile sites. Connexa was formed in 2022 and is based in Auckland, New Zealand.

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Buyer(S) 2

Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 116.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 169 of 176
Sector: Communications M&A 4 of 4
Type: Divestiture M&A Deals 16 of 16
Country: New Zealand M&A 3 of 3
Year: 2022 M&A 3 of 5
Size (of disclosed) 24 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 Lendable

London, United Kingdom

Lendable is an AI-powered consumer finance platform with a mission to make consumer finance more transparent, fair and efficient. Lendable was founded in 2014 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 Kry

Stockholm, Sweden

Kry is a digital health app designed to improve healthcare access for patients by allowing users to consult with a qualified health professional in minutes, via their smartphone or tablet. Kry was founded in 2015 and is based in Stockholm, Sweden.

Buy -
Buyer

La Caisse

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1965
PE ASSETS 90.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 87 of 106
Sector: Communications M&A 1 of 1
Type: Divestiture M&A Deals 5 of 6
Country: New Zealand M&A 1 of 1
Year: 2022 M&A 4 of 6
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-21 Cozey

Mont-Royal, Quebec, Canada

Cozey is a modular, easy-to-assemble sofa-in-a-box company that provides a simple furniture shopping experience, gives back to the community, and develops long-term relationships with our customers. In just two years of operation, Cozey has launched two modular sofa designs, a collection of decorative accessories, and Nook, a sister brand that combines the highest quality materials with Canadian craftsmanship. Cozey was founded in 2020 and is based in Mont-Royal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Port Adhoc

Paris, France

Port Adhoc is a provider of management and construction of infrastructure dedicated to the pleasure boating. Port Adhoc was founded in 2004 and is based in Paris, France.

Sell -

Seller(S) 1

SELLER

Spark New Zealand

Auckland, New Zealand

Category Company
Founded 1987
Sector Communications
Employees3,847
Revenue 3.6B NZD (2025)
DESCRIPTION

Spark New Zealand is a provider of telecommunications, and information and communications technology (ICT) services in New Zealand and internationally. Spark New Zealand was founded in 1987 and is based in Auckland, New Zealand.


DEAL STATS #
Overall 3 of 3
Sector: Communications M&A 2 of 2
Type: Divestiture M&A Deals 3 of 3
Country: New Zealand M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 Computer Concepts

Christchurch, New Zealand

Computer Concepts Ltd. is a telecommunication company that offers IT infrastructure and professional services.

Buy NZ$50M