Stikeman Elliott advises Information Services Corp in $45.9-million deal for Ontario firm
Ontario-based vitamins and natural health products manufacturer Jamieson Wellness’ $265-million acquisition of American premium supplements producer Nutrawise Health & Beauty Corporation heads up this week’s deals roundup, with McCarthy Tétrault and Paul, Weiss as Jamieson Wellness’ legal advisors and Greenberg Glusker as counsel to Nutrawise. Another Ontario-based firm, Reamined Systems, made it to this week’s list for its $45.9-million sale to Saskatchewan’s Information Services Corporation, with Stikeman Elliott as the latter’s legal counsel.
Ontario’s Jamieson Wellness to acquire California-based Nutrawise for $265 million
Jamieson Wellness, Toronto-based vitamins and natural health products manufacturer, signed an agreement to acquire California-based premium supplements producer Nutrawise Health & Beauty Corporation for approximately $265 million, including $32 million in Jamieson Wellness common shares to be issued to Nutrawise.
McCarthy Tétrault LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Jamieson Wellness, with Ernst & Young LLP as tax advisors and BMO Capital Markets and RBC Capital Markets as financial advisors.
Greenberg Glusker LLP and Bowen Tax Law served as legal counsel to Nutrawise, with William Hood & Company as exclusive financial advisors.
“This transaction is a major strategic milestone for Jamieson, accelerating our expansion in the world’s largest vitamin, mineral and supplement market,” said Mike Pilato, President and CEO of Jamieson Wellness. “Youtheory’s co-founders Darren and Patty Rude have built a remarkable company and brand that is highly complementary to our existing portfolio and perfectly aligned with our commitment to providing consumers with high-quality products they can trust. The transaction is immediately accretive to Jamieson, and we see significant opportunities for future growth synergies as we leverage our broad product portfolio, best-in-class operational capabilities and global footprint to accelerate youtheory’s expansion across multiple categories and channels in the United States and around the world.”
“Patty and I founded Nutrawise over ten years ago with the mission to build a business based on integrity, authenticity and quality,” said Nutrawise co-founder Darren Rude, referring to Patty Rude. “Jamieson Wellness shares a similar mission and values, and we are confident that the combination of Nutrawise, the youtheory brand and Jamieson’s expertise will further accelerate our growth and continue to support the health and wellness needs of our consumers.”
Transaction is expected to close during the third quarter of 2022.
Ontario’s Reamined Systems sells to Saskatchewan-based Information Services Corp for $45.9 million
Information Services Corporation (ISC), a public data and records company based in Regina, SK, acquired Ontario-based property tax management infrastructure and services provider Reamined Systems for $45.9 million.
Stikeman Elliott LLP served as legal advisor to ISC.
ISC President and CEO Shawn Peters said, “The acquisition of Reamined strongly aligns with our commitment to pursue strategic growth and capitalize on opportunities that add long-term, diversified value to our business. Reamined is integral to Ontario’s public sector and has a proven track record of providing trusted, reliable and specialized solutions. This natural extension of our Registry Operations segment expands our role as a trusted service provider to other jurisdictions. We are excited to welcome Reamined, its talented employees and industry experience into the fold.”
Judy Wong of Reamined said, “For more than two decades, we have worked with all levels of the Province of Ontario’s ecosystem to provide property tax administrators with expert guidance and proven regulatory service solutions. Today, we proudly become part of ISC to bring our service offerings into their next chapter of growth for the benefit of Ontario’s municipalities. We are thrilled to become a part of an organization that is anchored by the same values that drive us: optimizing operational needs while providing quality solutions to ensure the integrity of data, and secure management of critically important information technology.”
TorQuest Partners, CDPQ sell Barrette Outdoor Living to Irish firm CRH for $2.4 billion
TorQuest Partners and Caisse de dépôt et placement du Québec (CDPQ) agreed to sell Barrette Outdoor Living, Inc., an Ohio-based residential fencing and railing solutions provider, to Irish building materials company CRH for $2.4 billion.
Albert Manifold, Chief Executive of CRH, said, "Barrette is an excellent addition to CRH. Our Architectural Products business has been one of our fastest growing businesses in recent years and the acquisition of Barrette complements and enhances our existing offering of sustainable outdoor living solutions in North America. It also demonstrates the continued execution of our integrated solutions strategy to create further value for our customers, our business and our shareholders. We welcome the Barrette team to CRH and look forward to working with them on the next phase of our growth and development."
The transaction is expected to close in the second half of 2022.
Descartes acquires ecommerce shipping solutions provider XPS Technologies for $176 million
Logistics software solutions provider Descartes Systems Group acquired XPS Technologies, a Utah-based provider of ecommerce multi-carrier parcel shipping solutions, for $176 million.
The deal value is based on XPS achieving revenue-based targets in each of the first two years post-acquisition, according to the statement released by Descartes.
“We remain committed to serving the ecommerce market and we believe that scale matters. Combining with XPS adds ecommerce domain expertise, advanced parcel shipping technology and a community of more than 10,000 customers,” said Andrew Roszko, EVP Commercial Operations at Descartes. “Many of today’s small and medium ecommerce retailers will be the major enterprises of tomorrow, and our integrated ecommerce shipping and fulfilment solutions are designed to help these businesses through all phases of growth.”
“XPS complements our significant recent investments in the ecommerce fulfilment and shipping space,” said Edward J. Ryan, Descartes’ CEO. “We welcome the XPS customers, employees and partners to the Descartes community and, together, look forward to helping the community manage the full lifecycle of domestic and international ecommerce shipments.”
