M&A Deal Summary

TriWest Capital Partners and Roynat Capital Acquire OAG

On September 21, 2022, private equity firm TriWest Capital Partners and growth capital firm Roynat Capital acquired automotive company OAG

Acquisition Highlights
  • This is TriWest Capital Partners’ 1st and Roynat Capital’s 1st transaction in the Automotive sector.
  • This is TriWest Capital Partners’ 46th and Roynat Capital’s 11th transaction in Canada.
  • This is TriWest Capital Partners’ 8th and Roynat Capital’s 2nd transaction in British Columbia.

M&A Deal Summary
Date 2022-09-21
Target OAG
Sector Automotive
Buyer(s) TriWest Capital Partners
Roynat Capital
Deal Type Consolidation

Target

OAG

Kelowna, British Columbia, Canada
OAG is comprised of two recreational vehicle brands, including Northern Lite, a manufacturer of specialized fibreglass truck campers for all four seasons, and Off Grid, a designer and distributor of innovative, superior off-road trailers. Key distribution channels include a broad network of recreational vehicle dealerships across North America, and through a digital, direct-to-consumer model. OAG is based in Kelowna, British Columbia.

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Buyer(S) 2

Buyer

TriWest Capital Partners

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TriWest Capital Partners is a Canadian private equity firm focused on investments in established companies operating in a variety of industries. Broad areas of interest include the distribution, manufacturing, and service sectors. TriWest targets mid-sized, profitable companies with EBITDA of $10 to $100 million. Prospective transaction types include management buyouts, growth capital financings, generational transfers, corporate divestitures, and special situations. TriWest will not invest in real estate, technology and primary resource development. TriWest Capital Partners was formed in 1998 and is based in Calgary.

DEAL STATS #
Overall 49 of 53
Sector (Automotive) 1 of 2
Type (Consolidation) 2 of 2
State (British Columbia) 8 of 8
Country (Canada) 46 of 50
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 Kidoodle.TV

Calgary, Alberta, Canada

Kidoodle.TV is a Safe Streaming service committed to providing children with a safe alternative to stream their favorite TV shows and movies. Available in over 160 countries and territories on thousands of connected devices, it provides peace of mind, with every show vetted by caring people who are committed to Safe and Free Streaming for Kids. Kidoodle.TV was founded in 2012 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-30 Monarch Industries

Winnipeg, Manitoba, Canada

Monarch Industries is an integrated manufacturer and distributor of hydraulic cylinders and custom iron castings. Monarch serves the mobile agricultural, construction and industrial equipment markets. The Company’s products are sold primarily in North America, with a small but growing portion of sales in emerging markets. Customers include the major industrial equipment manufacturers. Monarch Industries was founded in 1935 and is based in Winnipeg, Manitoba.

Buy -
Buyer

Roynat Capital

Investor Investor

Category Growth Capital Firm
PE ASSETS 300M CAD
Size Small
Type Sector Agnostic
DESCRIPTION

Roynat Capital is an investment arm within Canada-based bank Scotiabank that looks to provide capital to middle-market businesses for growth and/or liquidity needs. The Firm looks to invest $5 to $20 million for minority stakes in profitable businesses with minimum EBITDA of $2 million. Roynat is sector agnostic and can invest a variety of capital, including common equity, preferred equity, and convertible debt. Roynat Capital is based in Calgary, Alberta.

DEAL STATS #
Overall 11 of 13
Sector (Automotive) 1 of 1
Type (Consolidation) 1 of 1
State (British Columbia) 2 of 2
Country (Canada) 11 of 13
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 VODA Backyard Leisure Group

Burlington, Ontario, Canada

VODA Backyard Leisure Group is a backyard leisure products business comprised of three businesses: Aquiform Distributors (a distributor to the pool, spa, and patio furniture industry), Club Piscine (a franchisor and distributor servicing the retail needs of an extensive network of franchises selling pools, garden furniture, barbecues, spas, and fitness equipment) and Pool Supplies Canada (an online retail platform for pool and spa supplies). VODA Backyard Leisure Group is based in Burlington, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-05 Sexton Group

Winnipeg, Manitoba, Canada

Sexton Group is a distribution, buying group and transportation business in the building materials industry and is comprised of five businesses including Sexton Group, a Canadian building materials buying group, Kenroc Building Materials, one of Western Canada’s largest distributors of gypsum, roofing and other specialty building materials, Builders Choice Products, a specialty tool distribution company, Sexton Transport, a long haul building material trucking company and Tage Davidsen Drywall Supplies, a gypsum dealer serving contractors in Calgary and surrounding areas. Sexton Group was founded in 1985 and is based in Winnipeg, Manitoba.

Buy -
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