Osprey Capital – Toronto Office Relocation Announcement
/in News & Updates /by John MottolaAbout Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.
Dynamic Technologies Completes a Transaction with Dynamic Machine
/in News & Updates /by John MottolaSeptember 2021 – Osprey Capital Partners Inc. is pleased to announce it has assisted Dynamic Technologies Group, a publicly traded company on the TSX Venture Exchange (DTG/TSXV), in selling its Parr Metal Fabricators subsidiary to Dynamic Machine Corp., both of Winnipeg.
Osprey Capital, an investment banking and financial advisory with offices in Toronto, Winnipeg and Halifax, worked alongside Hawkbridge Capital Partners, an independent merchant bank platform in Toronto, in securing the deal.
The Client
Dynamic Technologies, a designer of media-based attractions and ride systems for the global theme park industry and other entertainment destinations, has operations in Canada, the U.S. and China, but sells its products around the world.
Its Parr subsidiary, which was founded in 1975, is a custom-metal fabricator serving the pulp and paper, mining and food industries.
It also provides a variety of fabrication to the construction and truck trailer repair sectors.
The Objective
After Dynamic Technologies decided to focus solely on its core business, it engaged Osprey Capital and Hawkbridge to sell Parr through a highly competitive process to a specific group of strategic and financial buyers. The intent was to maximize the return for Parr.
The Result
Osprey Capital delivered the pool of potential suitors and the auction generated the highest possible sale price for Parr.
Dynamic Machine was ultimately selected as the ideal suitor largely due to its stellar reputation as a metal fabricator. Parr is an accretive acquisition for Dynamic Machine and its 40-year legacy of exemplary customer service will continue under its new corporate umbrella.
“It was a pleasure to work with Allan and the Dynamic Technologies team. We are very pleased our advisory services were able to deliver the ultimate return for Parr,” says John Mottola, managing partner at Osprey Capital.
Allan Francis, vice-president of corporate affairs and administration at Dynamic Technologies, says the process conducted by Osprey Capital was professional from start to finish. “We wanted to find the ideal buyer for Parr in the most efficient way possible and Osprey Capital enabled us to do just that,” he says.
Richard van den Broek, president, and general manager of Dynamic Machine says his company is “ecstatic” to add Parr to its group. “The process was smooth with very few surprises. We believe the future looks bright,” he says.
Integral to completion of the transaction, Hawkbridge Capital Partners Inc. acted as co-advisor and MLT Aikins acted as legal advisors to Dynamic Technologies.
About Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.
Stikeman Elliott Views from the Market: Midmarket M&A and Private Equity Podcast
/in News & Updates /by John MottolaIn this episode, Mario Nigro is joined by Stephen Jakob, co-founder of Osprey Capital Partners Inc.
August 2021 – Stephen Jakob was a guest on Stikeman Elliott’s Views from the Market podcast hosted by Mario Nigro, M&A partner at Stikeman. The episode, Canada’s Midmarket: Accelerating Growth as Available Capital Increases, highlights growing private equity activity and the substantial increase of available capital in Canada’s midmarket.
This podcast features Stephen Jakob, co-founder of Osprey Capital Partners, advisors to families and shareholders selling mid-sized businesses. Over the past 20 years, growing private equity activity has substantially increased available capital in Canada’s midmarket. According to Stephen, the pandemic has only exacerbated this trend, as numerous search funds, unfunded sponsors and U.S. funds join the hunt for Canadian acquisitions, with bidding wars now commonplace for even relatively small businesses.
About Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.
Fairfax and MCC Holdings Take Mosaic Capital Private for $277M
/in News & Updates /by John MottolaAugust 2021 – Osprey Capital Partners Inc. is pleased to announce that on August 5th, 2021, 2356430 Alberta Inc., a company controlled by MCC Holdings Ltd. (“MCC Holdings”) and certain affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”), successfully completed the acquisition of Mosaic Capital Corporation (TSXV: M) (TSXV: M.DB). Osprey Capital acted as exclusive financial advisor to MCC Holdings.
The transaction was completed through a statutory plan of arrangement under the Business Corporations Act (Alberta), which was overwhelmingly approved on July 29, 2021, by Mosaic shareholders. 2356430 Alberta Inc. acquired all of the outstanding common shares of Mosaic for $5.50 per share in cash for a consolidated enterprise value (inclusive of debt) of approximately $277.3 million. The common shares and the debentures were delisted from the TSX Venture Exchange effective as of the close of trading on August 5, 2021.
John Mottola, Managing Partner at Osprey Capital, said, “This deal was one where long-standing relationships with both MCC Holdings and Mosaic contributed to the efficiency of the confidential process and the success of the transaction. Structured as a private company, the portfolio of businesses have now been positioned for future success.”
Osprey Capital Partners Inc. acted as financial advisor to MCC Holdings. Fillmore Riley LLP acted as legal counsel to MCC Holdings. MNP acted as accounting advisors to MCC Holdings. Torys LLP acted as legal counsel to Fairfax. Farris LLP acted as legal counsel to the Special Committee and to Mosaic. Evans & Evans, Inc. provided the Special Committee and the Mosaic Board of Directors with a fairness opinion in respect of the transaction.
About Fairfax Financial Holdings Limited
Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.
About MCC Holdings Limited
MCC Holdings is a private company that owns, directly or indirectly, a number of private businesses throughout Canada and the United States.
About Mosaic Capital Corporation
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Its strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth.
About Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.
Eclipse Technology Solutions Inc. Secures Financing From Bank of Montreal, in Partnership with Export Development Canada
/in News & Updates /by John MottolaJuly 2021 – Osprey Capital Partners Inc. is pleased to announce it has secured a new financing arrangement for Eclipse Technology Solutions Inc. from Bank of Montreal and Export Development Canada (“EDC”). The complete banking solution includes a new operating facility as well as working capital to facilitate a partner buyout and support future growth. Osprey Capital acted as the exclusive advisor to Eclipse in the financing process. As it is a private deal, the financial details are not being released.
The Client
Mississauga, Ont.-based Eclipse is an industry-leading IT service company specializing in the delivery of transformative, end-to-end technology solutions and services. It creates customized communication and collaboration solutions that help clients solve a variety of business challenges while simultaneously accelerating growth. Eclipse is certified in unified communications, contact centre, data centre, and wireless solutions and services. With nearly 50 employees, Eclipse provides its customers with complete solutions across all platforms as they digitize their operations.
The Objective
Osprey Capital was brought in to canvas senior and subordinate lenders to secure a new financing deal to buy out one of the business partners who was looking to retire and to provide Eclipse with working capital for growth. Osprey Capital undertook a confidential process to identify lending options and sources for Eclipse. The procedure began with conversations with the existing senior lender, with the hope it would agree to participate in either a full or partial solution. After the existing lender declined to take part, Osprey Capital approached the open market.
The Result
Osprey negotiated a one-lender solution for Eclipse, ultimately selecting BMO as the ideal partner as it provided the most innovative solution through an export guarantee program with EDC. This guarantee allowed BMO to provide additional financing, which can be used by Eclipse to drive export growth, at senior debt rates.
Robert Stroud, owner of Eclipse, said the new financing arrangement will enable the company to further expand its U.S. market share. “The process conducted by Osprey Capital provided us with options which ultimately allowed us to choose the right lending partner and debt package tailored to our requirements,” he said.
Robert Brown, a partner at Osprey Capital, said his team was able to tap into its vast network to find the ideal lender for Eclipse. “It has been a pleasure to get to know Robert and the team at Eclipse. We are pleased to have been able to assist in the financing of the company and securing the right solution for their growth, both internally and externally,” he said.
About Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.
Confederation Freezers Completes a Transaction with Premium Brands
/in News & Updates /by John MottolaMarch 2021 – Osprey Capital Partners Inc. is pleased to announce Confederation Freezers, based in Brampton Ontario, has been acquired by Premium Brands Holdings Corporation, a Canadian TSX listed specialty food manufacturing and distribution company. Osprey Capital acted as the exclusive advisor to the owners of Confederation Freezers.
The Client
Confederation Freezers is one of the largest temperature-controlled warehouse companies in Canada. Founded by brothers Phillip and Harry Greenspan in 1974, the business grew from a 65,000 square foot facility to over 850,000 square feet and provides an industry-leading range of solutions to its clients including ambient, cool, and frozen temperatures.
The Objective
Confederation Freezers’ owners were seeking the right partner that would support the current management team and continue the company’s impressive historical growth and provide liquidity for the family shareholders. Osprey Capital planned and executed a highly confidential sale process which included identifying a defined group of strategic and financial buyers.
The Result
Premium Brands Holdings Corporation was selected as the ideal acquirer due to its reputation as a leading food manufacturer and distributor across Canada and the United States. Confederation Freezers is a strong addition to Premium Brands’ distribution channels and supply chain infrastructure that will serve to further enhance Confederation’s capabilities and services for its customers.
Alan Greenspan, President of Confederation Freezers, commented; “This is an exciting transaction for our family and a new chapter in our history. We are enormously proud of what we have accomplished over the last 47 years and are confident that, in partnering with Premium Brands, the legacy of Confederation Freezers will be honoured and maintained. We strongly believe that Premium Brands is the right partner, at the right time, to foster these ideals as we move to the next stage of our business.”
“It has been a pleasure to get to know the Greenspan family over the last few years and the Osprey Capital team is incredibly pleased to have been able to assist in the transition of the company. We look forward to the continued success of the management team as a new part of the Premium Brands family.” said Stephen Jakob, Managing Partner of Osprey Capital Partners.
Integral to completion of the transaction, Faskens acted as legal advisors and Deloitte Canada acted as tax advisors to the shareholders of the company.
About Osprey Capital Partners
Founded in 1998, Osprey Capital has established itself as one of Canada’s leading independent mid-market investment banking and financial advisory firms. Osprey offers a range of advisory services focused on the execution of merger, acquisition, business sale, and finance transactions. Osprey Capital’s success in servicing clients’ M&A and financing requirements is a result of its understanding of the unique needs of mid-market companies and their shareholders and its strong relationships with industry players including strategic acquirers, Canadian & international private equity funds, institutional investors, lenders and banks.