OMERS Infrastructure Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, OMERS Infrastructure has acquired 5 companies. It has also invested in 3 others.

OMERS Infrastructure’s most common sectors for investment areutilities (16%) and energy services and equipment (16%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (46%) and secondary buyout (20%). In total, OMERS Infrastructure has invested in 9 US states and 13 different countries. Its largest (disclosed) acquisition occurred in 2014 when it acquired Caruna for $2.9B.

In the last 3 years, OMERS Infrastructure has exited 7 companies. The Firm’s most common exit type is trade sale (54%). OMERS Infrastructure’s largest (disclosed) exit occurred in 2020 when it sold Detroit River Tunnel for $312M.

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M&A Summary

  • M&A Total Activity62
    • M&A Buy Activity49
    • M&A Sell Activity13
  • Total Sectors Invested 16
  • Total Countries Invested 13
  • M&A Buy/Sell Connections 20
  • M&A Advisors 8

OMERS Infrastructure

EY Tower 900 - 100 Adelaide St. W.,
Toronto, Ontario M5H 0E2
Canada
(416) 369-2400
www.omersinfrastructure.com

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


Investment Criteria

Sectors of Interest: Communications, Infrastructure, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 200 -
Enterprise Value 1,000 -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 41 1 3 4 - - 49
vol $4.9B $4.9B
Sell (1.6/yr) # 5 1 2 5 - - 13
vol $312M $312M
  62

Most Recent M&A

Company Date Value Type
Skyway Concession Company LLC 2022-09-12 - Trade Sale
Chicago, Illinois · www.chicagoskyway.org
Waveconn Group Holdings Management Pty Ltd. 2022-08-15 - Growth Capital
Sydney, Australia · www.waveconn.com
Midland Cogeneration Venture LP 2022-07-12 - Trade Sale
Midland, Michigan
VTG AG 2022-06-29 - Stake Sale
Hamburg, Germany · www.vtg.com
Direct ChassisLink, Inc. 2022-06-24 - Secondary Buyout
Charlotte, North Carolina · www.dcli.com
IndInfravit Trust 2022-06-10 - Growth Capital
Chennai, India · www.indinfravit.com
Groendus Groep BV 2022-05-18 - Secondary Buyout
Utrecht, Netherlands · www.groendus.nl
BPC Maritime Corp. 2022-04-14 - Trade Sale
Toronto, Ontario
GNL Quintero S.A. 2022-03-28 - Stake Sale
Santiago, Chile · www.gnlquintero.com
Navisun LLC 2021-11-02 - Secondary Buyout
Hingham, Massachusetts · www.navisunllc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Leeward Renewable Energy, LLC 2018-03-22 First Solar, Inc. - Solar Development Platform 2021-01-25 1
Dallas, Texas · www.leewardenergy.com Tempe, Arizona
Teranet, Inc. 2008-10-28 DoProcess LP 2020-12-10 1
Toronto, Ontario · www.teranet.ca Toronto, Ontario · www.doprocess.com
Deutsche Glasfaser Holding GmbH 2020-02-10 inexio Beteiligungs GmbH & Co. KGaA 2020-10-16 1
Borken, Germany · www.deutsche-glasfaser.de Saarlouis, Germany · www.inexio.net
LifeLabs, Inc. 2007-02-26 LifeLabs, Business and Operations in Quebec 2012-03-28 1
Toronto, Ontario · www.lifelabs.com , Quebec

M&A by Sector

Sector Current # Value All-time # Value
Utilities 6 (17%) - 8 (16%) 2.9B (59%)
Energy Services and Equipment 5 (14%) - 8 (16%) -
Infrastructure 4 (11%) - 7 (14%) -
Renewable Energy 5 (14%) - 5 (10%) -
Transportation 3 (9%) - 5 (10%) -
Life Science 4 (11%) 1M (< 1%) 4 (8%) 1M (< 1%)
Communications 2 (6%) 2.0B (100%) 3 (6%) 2.0B (41%)
Healthcare Services - - 2 (4%) -
Airlines - - 1 (2%) -
Business Services 1 (3%) - 1 (2%) -
Education - - 1 (2%) -
Electrical Equipment 1 (3%) - 1 (2%) -
Internet Software and Services 1 (3%) - 1 (2%) -
Marine 1 (3%) - 1 (2%) -
Media 1 (3%) - 1 (2%) -
Oil/Gas Exploration 1 (3%) - 1 (2%) -
Total 35 $2.0B 50 $4.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (23%) - 13 (26%) -
  Washington 2 (6%) - 2 (4%) -
  Texas 2 (6%) - 2 (4%) -
  Michigan - - 2 (4%) -
  Illinois - - 2 (4%) -
  Oklahoma 1 (3%) - 1 (2%) -
  North Carolina 1 (3%) - 1 (2%) -
  New Jersey 1 (3%) - 1 (2%) -
  Massachusetts 1 (3%) - 1 (2%) -
  Florida - - 1 (2%) -
Canada 7 (20%) 1M (< 1%) 13 (26%) 1M (< 1%)
  Ontario 5 (14%) 1M (< 1%) 9 (18%) 1M (< 1%)
  Alberta 2 (6%) - 2 (4%) -
  Nova Scotia - - 1 (2%) -
United Kingdom 4 (11%) - 5 (10%) -
Germany 4 (11%) - 5 (10%) -
Australia 3 (9%) - 3 (6%) -
Spain 2 (6%) - 2 (4%) -
India 2 (6%) - 2 (4%) -
Finland 1 (3%) - 2 (4%) 2.9B (59%)
France 1 (3%) 2.0B (100%) 1 (2%) 2.0B (41%)
Czech Republic 1 (3%) - 1 (2%) -
Netherlands 1 (3%) - 1 (2%) -
Sweden 1 (3%) - 1 (2%) -
Chile - - 1 (2%) -
Domestic 7 (20%) 1M (< 1%) 13 (26%) 1M (< 1%)
Cross-border 28 (80%) 2.0B (100%) 37 (74%) 4.9B (100%)
Total 35 $2.0B 50 $4.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 12 (34%) 1M (< 1%) 23 (46%) 2.9B (59%)
Secondary Buyout 9 (26%) - 10 (20%) -
Stake Purchase 8 (23%) - 10 (20%) -
Growth Capital 3 (9%) - 4 (8%) -
Divestiture 3 (9%) 2.0B (100%) 3 (6%) 2.0B (41%)
Total 35 $2.0B 50 $4.9B

Exits by Deal Type

Type Total # Value
Trade Sale 6 (46%) -
Secondary Sale 3 (23%) -
Stake Sale 2 (15%) -
Trade Sale - Public Company 1 (8%) 312M (100%)
Merger 1 (8%) -
Total 13 $312M

Top M&A Advisors

Financial Deals
BNP Paribas Corporate and Investment Banking
 1
Scotia Capital, Inc. (Scotiabank - Global Banking and Markets)
 1
BofA Securities
 1
Legal Deals
Clifford Chance
 1
Latham & Watkins
 1
Torys LLP
 1

Deal Values

buy # Total
> $1B 2 $4.9B
< $100M 1 $1M
TOTAL $4.9B
Largest Caruna
$2.9B (2014-03-24)
sell # Total
$100M to $1B 1 $312M
TOTAL $312M
Largest Detroit River Tunnel Co.
$312M (2020-10-16)

M&A Connections

Deals
Acquired from
Investor(s)
26%
13 (26%)
Strategic(s)
8%
4 (8%)
Exited to
Investor(s)
38%
5 (38%)
Strategic(s)
62%
8 (62%)

Investor Summary

Investor Type

Infrastructure

Size

Mega

Established

1990

Specialist/Generalist

Specialist

Leadership

Tom Frazier

Managing Director

Steven Zucchet

Managing Director, Asset Management

Timm Degenhardt

Managing Director, Asset Management

Orla Ralston

Managing Director, Investment Tax

Alastair Hall

Senior Managing Director

FAQ

When was OMERS Infrastructure founded?

OMERS Infrastructure was founded in 1990.

What type of investor is OMERS Infrastructure?

OMERS Infrastructure is an infrastructure investor.

Where is OMERS Infrastructure headquartered?

OMERS Infrastructure is headquartered in Toronto, Ontario.

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