M&A Deal Summary

Ontario Teachers Pension Plan Acquires ESSBIO

On January 1, 2007, pension Ontario Teachers Pension Plan acquired utilities company ESSBIO from Southern Cross Group

Acquisition Highlights
  • This is Ontario Teachers Pension Plan’s 2nd transaction in the Utilities sector.
  • This is Ontario Teachers Pension Plan’s 1st transaction in Chile.

M&A Deal Summary

Date 2007-01-01
Target ESSBIO
Sector Utilities
Buyer(s) Ontario Teachers Pension Plan
Sellers(s) Southern Cross Group
Deal Type Secondary Buyout

Target

ESSBIO

Concepción, Chile
ESSBIO provides evacuation and decontamination of sewage and industrial wastewater treatment services and it is the second-largest water utility in Chile, serving more than 3.5 million people. ESSBIO is based in Concepcion, Chile.

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Buyer(S) 1

Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B 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 23 of 175
Sector (Utilities) 2 of 7
Type (Secondary Buyout) 4 of 56
Country (Chile) 1 of 2
Year (2007) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-07 Worldspan

Atlanta, Georgia, United States

Worldspan is a global provider of mission-critical electronic global distribution and information technology services to the travel industry, operating the second largest distribution system for travel in the United States.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-09 GNC

Pittsburgh, Pennsylvania, United States

General Nutrition Centers alongside our partners, Ares. GNC is the largest global specialty retailer of nutritional supplements. We supported GNC's growth strategy by enhancing their branded product portfolio, developing an e-commerce platform and expanding to into new geographies like China.

Buy -

Seller(S) 1

DESCRIPTION

Southern Cross Group is a private equity firm that seeks investment opportunities in Latin and South America. Southern Cross only invests in control situations and does not focus on any specific industry. Southern Cross Group was formed in 1998 and is based in Greenwich, Connecticut with additional offices in Argentina, Chile, Mexico, and Brazil.


DEAL STATS #
Overall 3 of 9
Sector (Utilities) 1 of 3
Type (Secondary Buyout) 1 of 1
Country (Chile) 2 of 4
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 MMCinemas

Mexico

MMCinemas ("MMC") is one of Mexico's leading movie theater operators with a dominant position in second and third tier cities. Prior to Southern Cross' acquisition, MMC was a family-owned business with significant potential for improved performance and growth. Within one year, Southern Cross was able to streamline MMC's financial structure and operations, significantly increasing EBITDA while simultaneously improving the company's long-term strategic posture. In 2008, Southern Cross sold its interest in MMC to Grupo Mexico, a leading industrial group in Latin America

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Project Eagle

Chile

Project Eagle is an energy project that involves the construction of a 350MW coal-fueled power plant in the Chilean Northern Energy System to serve mining clients.

Buy -