M&A Deal Summary

TorQuest Acquires Pinova

On December 15, 2009, private equity firm TorQuest acquired chemicals company Pinova for 75M USD

Acquisition Highlights
  • This is TorQuest’s 1st transaction in the Chemicals sector.
  • This is TorQuest’s largest (disclosed) transaction.
  • This is TorQuest’s 4th transaction in the United States.
  • This is TorQuest’s 1st transaction in Georgia.
Investment Fate
  • Pinova was divested to a strategic buyer in 2010 for 75M USD.
  • Pinova was sold to a publicly-traded strategic buyer in 2015 for 417M USD.

M&A Deal Summary
Date 2009-12-15
Target Pinova
Sector Chemicals
Buyer(s) TorQuest
Deal Type Divestiture
Deal Value 75M USD

Target

Pinova

Brunswick, Georgia, United States
Pinova, Inc. is a manufacturer of specialty chemical products derived from pine trees and citrus fruit peels. Pinova produces rosin and terpene based resins that are used in a wide range of specialty applications around the world, including food and beverage, adhesive, construction and agriculture.

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Buyer(S) 1

Buyer

TorQuest

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.

DEAL STATS #
Overall 11 of 41
Sector (Chemicals) 1 of 2
Type (Divestiture) 3 of 5
State (Georgia) 1 of 1
Country (United States) 4 of 8
Year (2009) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-27 Global Traffic Technologies

St. Paul, Minnesota, United States

Global Traffic Technologies is a provider of traffic management technology to provide solutions that are deployed in 60,000 intersections and 30,000 vehicles in more than 1,500 cities worldwide including every U.S. state. Global Traffic Technologies was formed in 2007 and is based in St. Paul, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-05 4Refuel Canada

Langley, British Columbia, Canada

4Refuel Canada LP is a provider of mobile on-site refueling and fuel management services. 4Refuel pioneered the mobile on-site refueling industry in Canada and has built an unmatched market presence in Canada and the US. Headquartered in Toronto, 4Refuel provides service to a range of large and small clients in construction, transportation, oil & gas, power generation, and other industries. As the Canadian market leader, 4Refuel is the only national on-site fuel provider whose core business is direct-to-equipment on-site refueling. 4Refuel Canada was formed in 1995 and is based in Langley, British Columbia.

Buy -
Mergr

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