2016 EXECUTIVE SUMMARY - ANOTHER BILLION DOLLAR YEAR
May 16, 2017
In 2016, for the third straight year, Novacap’s M&A transactions amounted to over $1B.
We added six new platform companies to our portfolio and made four strategic add-on acquisitions to fuel further growth. In addition, we successfully exited four investments. In March, the Toronto office moved to its new premises on Bay Street. Our investment team has continued to expand, with nine new employees now working in our Montreal and Toronto offices.
In March 2016, we completed the final closing of the Novacap Industries IV fund at $470 million, 11% above our initial goal of $425 million. Together with Novacap TMT IV, this fund has allowed the firm to raise $845 million over the past two years, bringing our total assets under management to $1.6 billion.
We take pride in the reputation we have built over the last 35 years as investors, partners and responsible, respectful members of our community. Every day we aim to build trust, inspire loyalty and instill confidence among our investors. We firmly believe that holding true to these values will continue to be the main driver of our success.
The year 2017 looks very promising. Novacap TMT V fundraising is currently under way, with a closing anticipated for the end of the second quarter.
Both TMT and Industries have numerous opportunities in the pipeline for both platform and add-on acquisitions. Our plan in the short and long term remains unchanged: Novacap will continue to build world-class companies, partner with the best entrepreneurs, and continue to generate superior returns across all of our investments.
We thank our investors for their continued confidence and their loyalty to Novacap. Together, we have created the momentum that has brought us to where we are today.
President, Managing Partner – Novacap Industries
President, Managing Partner – Novacap TMT
Click to see our 2016 - YEAR IN REVIEW