Buyout (LBO, MBO, MBI) • Financial Services

WestBridge Capital Acquires Propulsion Capital

On January 1, 2017, private equity firm WestBridge Capital acquired financial services company Propulsion Capital

Acquisition Context

This is WestBridge Capital’s 1st transaction in the Financial Services sector.
This is WestBridge Capital’s 4th transaction in Canada.
This is WestBridge Capital’s 1st transaction in Alberta.

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M&A Deal Summary
Date	January 1, 2017
Target	Propulsion Capital
Sector	Financial Services
Buyer(s)	WestBridge Capital
Deal Type	Buyout (LBO, MBO, MBI)

Target Company

Propulsion Capital

Edmonton, Alberta, Canada

Propulsion Capital is a merchant service company. Propulsion Capital offers unbeatable prices on payment processing, cutting edge equipment, gift card programs, fraud reduction strategies, and more. Propulsion Capital is based in Edmonton, Alberta.

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Buyer Overview 1

Buyer

WestBridge Capital

Investor Investor

Category	Private Equity Firm
Founded	2007
Size	Small
Type	Sector Agnostic

DESCRIPTION

WestBridge Capital is a generalist investment firm focused on lower middle-market company acquisitions throughout North America. The Firm is industry agnostic and seeks profitable business ($2 to $10 million of EBITDA) with strong management already in place. WestBridge Capital is headquartered in Saskatoon, Saskatchewan.

Deal Context for Buyer	#
Overall	4 of 14
Sector: Financial Services	1 of 1
Type: Buyout (LBO, MBO, MBI)	4 of 12
State: Alberta	1 of 1
Country: Canada	4 of 7
Year: 2017	1 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2015-09-15	Bioriginal Saskatoon, Saskatchewan, Canada Bioriginal is a provider of innovative essential fatty acid (EFA) solutions. Bioriginal products are used in nutraceuticals, functional foods, skin care products, cosmetics, animal feed, veterinary products and over-the-counter pharmaceuticals. Bioriginal was founded in 1993 and is based in Saskatoon, Saskatchewan.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2015-09-15

Bioriginal

Saskatoon, Saskatchewan, Canada

Bioriginal is a provider of innovative essential fatty acid (EFA) solutions. Bioriginal products are used in nutraceuticals, functional foods, skin care products, cosmetics, animal feed, veterinary products and over-the-counter pharmaceuticals. Bioriginal was founded in 1993 and is based in Saskatoon, Saskatchewan.

Sell

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2017-12-05	Reside Woodinville, Washington, United States Reside is providing vetted and flexible accommodations options to global travelers no matter the destination or the duration of their stay. Reside Worldwide owns a variety of hospitality companies, including Reside Management and Reside Properties. Reside was formed in 2017 and is based in Woodinville, Washington.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2017-12-05

Reside

Woodinville, Washington, United States

Reside is providing vetted and flexible accommodations options to global travelers no matter the destination or the duration of their stay. Reside Worldwide owns a variety of hospitality companies, including Reside Management and Reside Properties. Reside was formed in 2017 and is based in Woodinville, Washington.

Buy

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