Novacap, a Toronto, Ontario and Brossard, Quebec, Canada-based private equity firm, closed its latest fund, Novacap Industries V, at C$940m.
The fund, which received commitments from pension funds, financial institutions, insurance companies, family offices and high net-worth individuals across North America, Europe and Asia, aims to invest in companies with strong growth potential in the industrial and manufacturing sectors as well as in service and distribution.
The vehicle will maintain its current strategy of investing in North American mid-market manufacturing companies, food processors, business-service providers and distributors with the ability to become North American leaders in their respective fields.
It expects to make equity investments in order to support companies with organic growth initiatives and to drive strategic acquisitions.
Novacap Industries V will be led by its partners, Jacques Foisy, Michel Côté, Domenic Mancini, Frédérick Perrault, Marc Paiement, Michel Toutant and Jean-Francois Routhier.
Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations.
Over the last 38 years, the firm has invested in more than 90 companies and completed more than 130 add-on acquisitions.