Whitecap Venture Partners Mergers and Acquisitions Summary

Private Equity Profile

Whitecap Venture Partners’ most common sectors for investment are food (23%) and information technology (23%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (78%) and venture (23%). Its largest (disclosed) acquisition occurred in 1999 when it acquired IMagicTV for $10M.

The Firm’s most common exit type is trade sale (37%). Whitecap Venture Partners’ largest (disclosed) exit occurred in 2014 when it sold Protenergy Natural Foods for $150M.

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity9
    • M&A Sell Activity11
  • Total Sectors Invested 7
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5
  • M&A Advisors 1

Whitecap Venture Partners

22 St. Clair Avenue East, Suite 1010,
Toronto, Ontario M4T 2S3
Canada
(416) 961-5355
www.whitecastle.ca
carey@whitecastle.ca

Whitecastle Private Equity Partners (WPEP) is the private equity arm of Whitecastle Investments, a firm which also provides venture capital financing. WPEP looks to invest C$5 to C$25 million to help fund buyouts, acquisitions, expansions, and privatizations of companies valued up to C$75 million. Target industries include food services, recycling and waste management, technology, healthcare services and products, financial services, and manufacturing. Whitecastle Private Equity Partners was formed in 1958 and is based in Toronto, Ontario.


Investment Criteria

Sectors of Interest: Business Services, Communications, Electrical Equipment, Environmental, Financial Services, Food, Healthcare Services, Information Technology, Manufacturing, Medical Products, Renewable Energy, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Stake Purchase, Venture

Geographic Preferences: Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 25
Enterprise Value 15 75
values in millions of CAD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 9 - - - - - 9
vol $10M $10M
Sell (0.0/yr) # 11 - - - - - 11
vol $159M $159M
  20

Most Recent M&A

Company Date Value Type
Protenergy Natural Foods Corp. 2014-04-21 150M USD Add-on Acquisition
Richmond Hill, Ontario · www.protenergyfoods.com
Protenergy Natural Foods Corp. 2011-10-04 - Buyout (LBO, MBO, MBI)
Richmond Hill, Ontario · www.protenergyfoods.com
Avo Photonics, Inc. 2011-07-11 9M USD Add-on Acquisition
Horsham, Pennsylvania · www.avophotonics.com
Turtle Island Recycling Corp. 2011-01-01 - Trade Sale
Toronto, Ontario · www.turtleislandrecycling.com
Teranet, Inc. 2008-10-28 - Secondary Buyout
Toronto, Ontario · www.teranet.ca
Bento Nouveau Group of Companies 2007-09-13 - Buyout (LBO, MBO, MBI)
Toronto, Ontario · www.bentonouveau.com
Turtle Island Recycling Corp. 2005-08-30 - Buyout (LBO, MBO, MBI)
Toronto, Ontario · www.turtleislandrecycling.com
IMagicTV, Inc. 2003-04-30 - Add-on Acquisition
Saint John, New Brunswick · www.imagictv.com
Loran International Technologies Inc 2000-01-01 - Trade Sale
Ottawa, Ontario
IMagicTV, Inc. 1999-01-01 10M USD Buyout (LBO, MBO, MBI)
Saint John, New Brunswick · www.imagictv.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Food 1 (100%) - 2 (22%) -
Information Technology - - 2 (22%) -
Software - - 1 (11%) 10M (100%)
Communications - - 1 (11%) -
Electrical Equipment - - 1 (11%) -
Environmental - - 1 (11%) -
Manufacturing - - 1 (11%) -
Total 1 - 9 $10M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Canada 1 (100%) - 9 (100%) 10M (100%)
  Ontario 1 (100%) - 5 (56%) -
  Quebec - - 2 (22%) -
  New Brunswick - - 1 (11%) 10M (100%)
Total 1 - 9 $10M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (100%) - 7 (78%) 10M (100%)
Venture - - 2 (22%) -
Total 1 - 9 $10M

Exits by Deal Type

Type Total # Value
Trade Sale 6 (55%) 9M (6%)
Trade Sale - Public Company 4 (36%) 150M (94%)
Secondary Sale 1 (9%) -
Total 11 $159M

Top M&A Advisors

Financial Deals
William Blair & Co. LLC
1

Deal Values

buy # Total
< $100M 1 $10M
TOTAL $10M
Largest IMagicTV, Inc.
$10M (1999-01-01)
sell # Total
$100M to $1B 1 $150M
< $100M 1 $9M
TOTAL $159M
Largest Protenergy Natural Foods Corp.
$150M (2014-04-21)

M&A Connections

Deals %
Exited to
PE Firm(s)
20%
1 20%
Strategic(s)
80%
4 80%

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