Goodmans deal chosen by CVCA as private equity "Deal of the Year"
|Area||REITs and Income Securities, Private Equity|
On September 20, 2006, Canada’s Venture Capital & Private Equity Association (CVCA) announced that ONCAP L.P. was the recipient of the CVCA’s 2006 ‘Deal of the Year Award’ for the private equity category. ONCAP L.P. won the 2006 private equity category award for its investment in Futuremed Healthcare Products. The $25 million investment in February 2004 generated proceeds of $100 million, a multiple of 4 times its investment, and an internal rate of return of 115.9%. Founded in 1985, Futuremed is Canada’s leading distributor of disposable medical supplies and equipment to the long-term care sector. ONCAP is a $575 million Canadian pool of capital, established by Onex Corporation in 1999, dedicated to investing in and building value with North America small and medium-size companies.
Goodmans acted as counsel to ONCAP L.P. in connection with the acquisition of the assets of Futuremed Health Care Products Ltd., related financing and subsequent initial public offering by Futuremed Healthcare Income Fund.