Toronto and New York (June 28, 2022) – Ontario Teachers’ Pension Plan Board (Ontario Teachers’) announced that it has closed an investment in Orva (the “Company”), a full-service e-commerce platform specializing in the sale of footwear, apparel, accessories, and home products from leading consumer brands. The investment is being made in partnership with Trilantic North America, a leading private equity firm, and the Aizer and Shalom families. Terms of the transaction are not being disclosed.
Founded in 1948 as a chain of brick-and-mortar stores, Orva has evolved its business model in parallel to the digitization of the retail landscape. Today, the Company operates as a leading e-tailer, providing its longstanding brand partners with comprehensive e-commerce solutions.
“We are excited to have Ontario Teachers’ support as we enter the next chapter of our company,” said Abe Shalom, President at Orva. “Our partnership with both Ontario Teachers’ and Trilantic North America will enable Orva to continue learning alongside trusted professionals and unlock valuable opportunities to accelerate our growth as a full-service e-commerce partner to leading consumer brands.”
“The investment in Orva is consistent with our strategy of investing in the megatrends shaping the future of retailing, and our first in the growing e-commerce facilitator space. We are particularly attracted to Orva given its track record of using data and merchandising expertise to drive incremental online sales for its top-tier brand partners,” said Kevin Mansfield, Senior Managing Director for Consumer, Private Capital at Ontario Teachers’. “We look forward to working closely with the Aizer and Shalom families and Trilantic North America to support the Company in its next stage of growth.”
“Since our original partnership with the Shalom and Aizer families in December 2020, we’ve been impressed with the founders’ ability to drive tremendous growth across existing and new brand partners and product categories, while strategically investing in new hires and IT-related projects to position Orva for continued scaling,” said Jamie Manges, Partner and Head of Consumer at Trilantic North America.
Lee Nussbaum, Managing Director at Trilantic North America, added, “Our partnership with the Shalom and Aizer families exemplifies our strategy of partnering with exceptional founders and families, and we look forward to continuing our partnership with the Orva team, alongside the Ontario Teachers’ team, as the Company continues on its impressive growth trajectory.”
About Orva
Orva is a family-owned, full-service e-commerce platform that has actively managed leading brands on the Amazon platform since 2011. Orva provides long term solutions that sustain a brand’s health and drive growth on the Amazon Marketplace through merchandising, optimized content, marketing, design and supply chain management. Since its founding as a retail chain of stores in 1948, the business has been passed on from generation to generation within the Aizer and Shalom families with each succeeding generation upholding the founding fathers’ core focus on Orva’s customers and valuable brand relationships.
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of C$241.6 billion as at December 31, 2021. We invest in more than 50 countries in everything from equities to real estate to infrastructure and venture growth, to deliver retirement income for 333,000 current and retired teachers in Ontario.
With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.7% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit www.otpp.com and follow us on Twitter @OtppInfo.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a leading, growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the consumer and business services sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion. Trilantic North America has been recognized by Inc. Magazine’s 2021 list of Top Founder-Friendly Investors and has been named one of Growthcap’s 2021 Top 25 Private Equity Firms for Growth Companies. For more information, visit www.trilanticnorthamerica.com.
For more information, please contact:
Orva / Trilantic North America Claire Walsh +1 646 818-9177 pro-trilantic@prosek.com
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
