BDC CAPITAL TEAMS UP WITH VERTU CAPITAL TO ACQUIRE TORONTO-BASED FIRMEX


BDC Capital and Vertu Capital have partnered to acquire virtual data room (VDR) provider Firmex, from Montreal-based private equity firm Novacap.

Firmex is a Toronto-based company that provides VRD technology on a global scale. According to the company it has more than 120,000 customers that span 80 countries. Founded in 2006, Firmex was originally a portfolio company of Novacap, which acquired the company in 2016.

According to Firmex, Novacap owned a majority share in the company, while its management team owned a minority. BDC Capital and Vertu have now partnered to acquire Novacap’s share, while Firmex will maintain its minority share. Financial terms of the investment were not disclosed.

“It’s been a very hot M&A market for good tech companies in particular, but I kept the standard very high for my first deal.”
 -Lisa Melchior

Vertu Capital is a Canadian technology private equity firm that invests in late stage companies. It was founded by Lisa Melchior, previously a managing director at OMERS Private Equity. The acquisition of Firmex is Vertu’s first investment since it was founded in 2017, Melchior told Betakit.

“It’s been a very hot M&A market for good tech companies in particular, but I kept the bar very high for my first deal,” Melchior explained. “When I met Joel Lessem [president and CEO of Firmex] and got to know the Firmex businesses, I was pretty confident that it would surpass the bar.”

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