Portfolio
Mezzanine Partners has established a strong track record based on
successful investments in diversified public and private businesses,
investing alongside some of North America's largest, most reputable and
successful equity sponsors. Since inception in June 2000, we have
successfully underwritten 25 transactions totaling in excess of $1
billion.
BFI Canada, Inc.
June 2000
At the time of the investment, BFI Canada Inc. was one of
Canada's largest full-service waste management companies providing
non-hazardous solid waste collection and landfill disposal services for
commercial, industrial and residential customers in the provinces of
British Columbia, Alberta, Manitoba, Ontario and Québec. The company
operated four landfills, three of which it owned, carried on collection
operations in 18 markets and operated two transfer collection stations,
seven material recovery collection facilities and one landfill gas to
energy facility. Today, BFI is one of North America's largest
full-service waste management companies and trades as BFI Canada Income
Fund.
The proceeds of the investment were used to help fund the acquisition of
certain Browning-Ferris Industries Ltd. assets by EdgeStone Capital
Partners and an industry veteran.
Shoppers Drug Mart, Ltd.
October 2000
Shoppers Drug Mart Ltd. is Canada's largest drug store group with
in excess of 975 drug stores and 50 Home Health Care stores from coast
to coast. The Company's licensed stores are located in prime locations
in each province and two territories, making Shoppers stores among the
most convenient retail outlets in Canada. The Company trades on The
Toronto Stock Exchange.
The proceeds of the investment were used to help fund the acquisition of
Shoppers Drug Mart by Kohlberg, Kravis and Roberts & Co.
Aurafin, LLC
June 2001
Aurafin LLC, is a leading U.S. distributor and manufacturer of
high-quality, inexpensive, gold jewelry. Aurafin's product line consists
of over 5,000 styles of necklaces, bracelets, earrings, charms,
pendants, rings and other specialized products which are sold to mass
merchants, department stores and independent retailers across the United
States.
The proceeds of the financing were used to support Aurafin, a privately
held Florida based Company, acquire its largest competitor OroAmerica
Inc., a publicly traded company. Post acquisition, Aurafin was 3x larger
than its next nearest competitor.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Maxxcom, Inc.
July 2001
At the time of the investment, Maxxcom Inc. was one of the
largest full-service marketing and communications organizations based in
Canada, providing a comprehensive range of services to clients in North
America and the United Kingdom. These services included advertising,
direct marketing, database management, sales promotions, public and
investor relations, branding and corporate identity, research and
consulting and interactive marketing communications. Maxxcom was
established in 1980 as a division of MDC Corporation ("MDC") and was
reorganized and spun-off through an IPO in March 2000. It was then
re-acquired by MDC and renamed MDC Partners in 2004. MDC Partners is
traded on the TSX under the symbol MDZ-A.
The proceeds of the financing were used to reduce indebtedness and
position the Company to continue its strategy of consolidation.
Oxford Communications Inc.
August 2001
Oxford Communications Inc., which operates under the trade name
"Eastlink", is a communications group that owns and operates cable and
communications systems throughout Nova Scotia, Prince Edward Island and
New Brunswick. The company offers a bundled price for digital cable,
high-speed internet and telephone services. Post-closing, Eastlink was
ranked as the fifth largest cable provider in Canada.
TD Capital Mezzanine Partners underwrote the subordinate debenture to
support Eastlink's acquisition of the Nova Scotia cable assets of Shaw
Communications Inc.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Crown Media Holdings, Inc.
December 2001
Crown Media is a niche cable network operator dedicated to
providing high quality, broad appeal, entertainment programming. At the
time of the investment, the company provided the Hallmark Channel to 88
million subscribers worldwide.
Mezzanine Partners invested US$35 million of a US$265 million privately
placed preferred security. The funds were used to provide the company
with additional liquidity to drive distribution, improve ratings and
leverage the Hallmark brand domestically and internationally.
Dakota, Minnesota & Eastern Railroad Corporation
July 2002
Dakota, Minnesota & Eastern is one of the largest regional
railroads in the United States servicing high volume shippers
principally in South Dakota and Minnesota.
The funds were used primarily to acquire the assets of I&M Rail
Link. At the time of investment the combined company operated 2,800
miles of contiguous track in nine states and provided greater market
access for the existing customer base of both railroads.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Bell ActiMedia
December 2002
Yellow Pages Group (formerly Bell Actimedia) is Canada's largest
directory publisher. The Company is the official publisher of Bell
Canada's directories, Telus' directories, as well as of a number of
other incumbent telephone company directories. Yellow Pages Group also
owns and manages Canada's most visited online directories including
YellowPages.caTM, Canada411.ca and SuperPages.caTM
as well as CanadaPlus.ca, MontrealPlus.caTM, QuebecPlus.caTM,
TorontoPlus.caTM, CalgaryPlus.caTM,
EdmontonPlus.caTM, OttawaPlus.caTM and
VancouverPlus.caTM. The Company currently trades as Yellow
Pages Income Fund.
The proceeds of the investment were used to help fund the
acquisition of Bell Actimedia by Kohlberg Kravis Roberts & Co. and
Ontario Teachers' Merchant Bank.
Give and Go Prepared Foods Corp.
May 2003
Give & Go produces high-quality, specialty baked goods which
are sold on a private label basis to North America's largest retail
grocery chains, big box retailers and selected quick service
restaurants.
Mezzanine Partners acted as the sole underwriter of the mezzanine debt
and participated in the equity tranche of the investment. The proceeds
were used primarily to fund the acquisition of Give & Go by an
established group of equity sponsors.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Roman Corporation
July 2003
Roman Corp. has two primarily vertically integrated assets.
Strathcona Paper, a low cost niche producer of heavy weight recycled
clay-coated boxboard located in Napanee, Ontario, and Boehmer Box
Corporation, a box converter that primarily serves the private label
food industry located in Kitchener, Ontario. At the time of the
investment, Roman was traded on the TSX.
The financing was used to refinance existing debt and provide Roman with
the ability to acquire new equipment to expand Boehmer's production
capacity.
Canampac ULC
May 2006
CanamPac ULC is a leading manufacturer of paperboard packaging
for the consumer packaged goods industry. The Company's products are the
packaging choice for some of the most recognizable national and private
label brands in North America. Consumer goods packaged with the
Company's products range from frozen and dry foods to beverages, pet
products, powdered laundry detergent to light bulbs, batteries and
hardware.
TD Capital Mezzanine Partners acted as the sole underwriter of the
mezzanine debt and participated in the equity as well. The proceeds were
used to fund the acquisition of the Roman Corporation assets (Strathcona
and Boehmer Box) by Forest Resources.
Workflow Management, Inc.
April 2004
Workflow is one of the largest manufacturers and distributors of
printed business products in North America. They are a leading provider
of end-to-end business management outsourcing solutions including custom
print sourcing, workflow consulting and integrated storage and
distribution services, allowing customers to control all of their print
related costs.
The proceeds of this investment were used to help fund the acquisition
of Workflow by an accomplished equity sponsor and management team.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Automotive Aftermarket Parts Wholesaler
April 2004
The Company operates warehouses and company owned part stores,
and supplies new and remanufactured branded automotive hard parts and
maintenance items to professional installers, independently owned parts
stores and retail customers.
The Company is well positioned for continued growth in a highly
fragmented market. The financing was used to support this growth and
help finance future acquisitions.
Ken Fowler Enterprises Limited
June 2004
Ken Fowler Enterprises Limited ("KFE") is a successful private investment
firm, engaged in the acquisition and ownership of operating businesses.
At the time of the investment, KFE's portfolio included investments engaged in the food &
beverage, consumer retail, real estate & resort development, and
homebuilding industry sectors.
The proceeds of this investment were used for further investments in
portfolio companies.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Trident Resources Corp.
July 2004
Trident is a private, Alberta-based company engaged in the
exploration and production of coalbed methane ("CBM") in the Western
Canadian sedimentary basin. CBM - the natural gas found in coal -
accounts for approximately 10% of natural gas supply in the United
States. In Canada, it is still in the early stages of commercial
development. Trident commenced operations in 2000 and announced
commercial production in 2004.
The subordinated debt was used to help finance the continued commercial
rollout of the Company's drilling program.
TDS Logistics, Inc.
August 2004
TDS is one of the world's largest suppliers of value-added
material handling logistics solutions to the automotive industry. Its
Inbound Logistics offering includes supply chain management, sequencing,
sub-assembly and kitting, while its Outbound Logistics involves supply
chain management, export packaging, and transportation management. With
more than 50 years of experience, the Company has become a preferred
vendor for the largest auto OEM's and Tier I suppliers.
The proceeds of this investment were used to help fund the acquisition
of TDS Logistics by The Yucaipa Companies LLC and the management team.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Automotive Aftermarket Parts Wholesaler
March 2005
The Company operates warehouses and company owned part stores,
and supplies new and remanufactured branded automotive hard parts and
maintenance items to professional installers, independently owned parts
stores and retail customers.
The Company is well positioned for continued growth in a highly
fragmented market. The financing was used to support this growth and
help finance future acquisitions.
Financial Services Company
April 2005
The Company is a leading provider of financial services to
unbanked customers and is well positioned for continued growth in a
highly fragmented market. TD Capital Mezzanine Partners' investment will
be used together with equity investments from other investors, including
FT Ventures and Oak Investment Partners, to support this growth and help
finance future acquisitions.
Trident Resources Corp.
May 2005
Trident is a private, Alberta-based company engaged in the
exploration and production of coalbed methane ("CBM") in the Western
Canadian sedimentary basin. CBM - the natural gas found in the coal -
accounts for over 10% of natural gas supply in the United States. In
Canada, it is still in the early stages of commercial development.
Trident commenced operations in 2000 and announced commercial production
in 2004.
Mezzanine Partners purchased $40 million of a $312 million issuance
of Preferred Units. The proceeds of this investment were used to help
finance the continued rollout of the Company's drilling program.
New Food Classics
February 2006
New Food Classics ("NFC") custom designs and manufactures private label and branded
meat, seafood, meatless and poultry value-added products for retail and
foodservice accounts. The Company's products include frozen, fresh,
ready-to-cook and pre-cooked offerings. NFC's innovative product
development and efficient manufacturing position the Company for
continued growth in the North American market.
Mezzanine Partners acted as the sole underwriter of the subordinated debt. The
financing was used to help fund the new NFC partnership between
EdgeStone Capital Partners, the Company's founders and the management
team.
Comark Building Systems, Inc.
March 2006
Comark is a manufacturer and distributor of modular buildings
based in Texas. Comark supplies custom modular buildings to the federal
government, public school districts and commercial customers across the
United States, employing 500 people at manufacturing locations in Texas,
California and North Carolina. Comark sells more commercial modular
structures to the U.S. government and military than any other
manufacturer.
The proceeds of this investment were used to help fund the acquisition
of Comark by The Carlyle Group.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt pre-closing.
Poraver North America
June 2006
Poraver North America is engaged in the construction of a
manufacturing facility to produce Poraver, a high performance
lightweight aggregate made from recycled glass, for use initially in the
building products segment. TD Capital Mezzanine Partners' investment
was used together with an equity investment from Richardson Capital
to fund the construction and start-up of the manufacturing facility.
Herbal Magic, Inc.
October 2006
Herbal Magic is Canada's largest franchisor of commercial weight
loss centres. Herbal Magic offers a one-on-one weight loss counseling
service that focuses on lifestyle changes to promote weight loss and
emphasizes balanced meals, portion control and herbal supplements. TD Capital Mezzanine Partners' investment was used together with equity
investments from Torquest Partners and other investors to fund the
acquisition of Herbal Magic.
* Mezzanine Partners underwrote the deal and
syndicated a portion of the debt post-closing.
Avatas Aerospace Inc.
August 2007
Avatas Aerospace provides aircraft engine maintenance, repair and overhaul (MRO) services for small gas turbine engines. Avatas Aerospace also participates in the purchase and sale of new and used aircraft engines and engine parts to a wide variety of customers including MRO facilities, leasing companies, aircraft operators and other engine part distributors throughout the world. TD Capital Mezzanine Partners' investment will be used together with an equity investment from Killick Capital to fund working capital to support the growth in the business
Ken Fowler Enterprises Limited
October 2007
Ken Fowler Enterprises is a successful private investment firm engaged in various industries including real estate & resort development, hospitality, and consumer retail. TD Capital Mezzanine Partners' investment will be used to support the continued growth of KFE's portfolio companies.
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