M&A Deal Summary

PSP Investments Acquires TriSummit Utilities

On October 21, 2019, pension PSP Investments acquired utilities company TriSummit Utilities for 1.7B USD

Acquisition Highlights
  • This is PSP Investments’ 1st transaction in the Utilities sector.
  • This is PSP Investments’ 8th largest (disclosed) transaction.
  • This is PSP Investments’ 3rd transaction in Canada.
  • This is PSP Investments’ 1st transaction in Alberta.

M&A Deal Summary

Date 2019-10-21
Target TriSummit Utilities
Sector Utilities
Buyer(s) PSP Investments
Deal Type Going Private
Deal Value 1.7B USD
Advisor(s) TD Securities (Financial)
Stikeman Elliott (Legal)

Target

TriSummit Utilities

Calgary, Alberta, Canada
TriSummit Utilities is a natural gas distribution utility company, with rate-regulated utilities in Alaska, British Columbia, Alberta and Nova Scotia. TriSummit Utilities was founded in 2011 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

PSP Investments

Investor Investor Investor Investor Investor


Category Pension
Founded 1999
PE ASSETS 299.7B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.


DEAL STATS #
Overall 24 of 32
Sector: Utilities M&A 1 of 1
Type: Going Private M&A Deals 3 of 5
State: Alberta M&A 1 of 1
Country: Canada M&A 3 of 4
Year: 2019 M&A 4 of 4
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Stahmann Webster

Brisbane Queensland, Australia

Stahmann Webster is an agribusiness operating walnut and almond orchards in NSW and Tasmania, irrigable land for cotton and other annual crops, cattle and dorper sheep production, a portfolio of water entitlements and an apiary business in NSW. Stahmann Webster was founded in 1831 and is based in Leeton, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 Alpha Trains Luxembourg S.à r.l.

Luxembourg, Luxembourg

Alpha Trains Luxembourg S.à r.l. is a private operating lessor of rolling stock (passenger trains and locomotives). Alpha Trains owns 416 passenger trains and 363 locomotives and offers tailor-made leasing solutions, comprehensive know-how in maintenance and vehicle repairs as well as long-term experience in the financing of new build projects. Alpha Trains is based in Luxembourg.

Sell -