Vance Street Capital to sell Terra Insights to Orica

Vance Street Capital LLC said earlier this week it had signed a binding Sale and Purchase Agreement to sell Terra Insights to Orica for as much as CAD 505 million.

The deal is expected to close in the first half of next year.

Based in Vancouver, British Columbia, Terra Insights is a leading global end-to-end sensor and data delivery technology platform, which provides geotechnical, structural and geospatial monitoring of critical assets in mining and infrastructure.

Vance Street had invested in Terra Insights via its “Vance Street Fund II” in 2017 as part of an ongoing industrial technology thesis around connected critical asset monitoring technology.

Under Vance Street’s ownership, Terra has achieved double-digit organic growth and has increased its revenue more than threefold.

“Terra exemplifies Vance Street’s strategy of partnering with best-in-class highly engineered solutions providers and leveraging our operating partner network to execute on the Vance Street Value Creation Playbook,” Brian Martin, Managing Partner at Vance Street Capital, said in a press release.

“CEO Mark Price and the Terra team have done an exceptional job of executing on the strategy, taking niche hardware solutions and transforming Terra into one of the leading innovative sensors and data delivery technology providers for geotechnical, structural and geospatial monitoring in mining and infrastructure. We want to thank the Terra team for their hard work and great partnership over the past six years.”

“Vance Street has been a true partner to build this exciting platform. Their strategic vision, tremendous support and diligent oversight have been integral to the platform development. The growth culture and a genuine interest in both the development and wellbeing of everyone in their organizations make them a special team,” Mark Price, Chief Executive Officer of Terra Insights, commented.