Plenary Americas Completes $1.2B Acquisition of ISC
Information Services Corporation is now privately held after Plenary Americas closed its CAD$51-per-share buyout, valuing the firm at roughly $1.2 billion.
Plenary Americas LP finalized its takeover of Information Services Corporation (TSX: ISC) on Monday, pulling the Regina-based data and registry services company off the Toronto Stock Exchange in a deal valued at an implied enterprise value of approximately $1.2 billion Canadian dollars.
Under the terms of the statutory plan of arrangement — structured pursuant to Saskatchewan's Business Corporations Act, 2021 — ISC shareholders received CAD$51.00 in cash for each Class A Limited Voting Share they held. The all-cash payout applied to the vast majority of public investors, delivering a clean exit at a fixed premium.
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A narrow group of ISC's senior managers did not receive the standard cash payout. Instead, those executives entered into equity rollover agreements that allow them to retain a continuing ownership stake in the now-privately held company, aligning their interests with Plenary Americas as the new controlling entity moves the business forward outside of public markets.
The transaction was structured as a wholly-owned subsidiary acquisition, a common mechanism used in Canadian privatizations to streamline regulatory approvals and shareholder voting. ISC, which has historically provided land registry, corporate registry, and information services primarily in Saskatchewan, will now operate under Plenary Americas' infrastructure-focused investment umbrella.
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