Novacap Awarded 2019 Deal of the Year at the Canadian Private Equity Summit Awards
November 21, 2019
Toronto (Canada) November 21st, 2019 – The Private Equity Summit Awards honour individuals and firms who established exemplary achievement in personal and organizational development, client service, and success in private equity. The awards ceremony took place last night in Toronto.
Novacap, one of Canada’s most prominent buyout and growth equity firms with over $3.6 billion of assets under management, was awarded the Canadian Private Equity Summit Awards 2019 Deal of the Year for the sale of its portfolio company, Knowlton Development Corporation Inc. (“KDC”).
Knowlton Development Corporation (KDC) is a leading value-added partner to the personal care, beauty, health and home care industries, serving the market’s fastest growing and most innovative brands During Novacap’s 16-year investment period in KDC, the company experienced extensive growth through the successful completion of multiple acquisitions.
Michel Côté, Senior Partner at Novacap, led the team in this project and Fasken advised Novacap.
This sale constituted a major transaction in terms of both value and complexity, involving Canadian-U.S. cross-border issues, a number of regulatory matters including competition and antitrust compliance, and significant corporate restructuring. It also included a rollover by major shareholders Caisse de dépôt et placement du Québec and Investissement Québec, who retained a significant stake in KDC, as well as rollover investments by certain key members of the senior management team.
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