Vance Street Capital LLC has signed a binding Sale and Purchase Agreement to sell Terra Insights to Orica for CAD 505 million (USD 382.5 million).

Vance Street invested in Terra through its second fund, Vance Street Fund II, in 2017 as part of an ongoing focus on industrial technology related to connected critical asset monitoring. While under Vance Street's ownership, Terra Insights has experienced significant organic growth, achieving double-digit expansion since 2017. Revenue has more than tripled, and margins have expanded. This growth can be attributed to several factors, including accelerated development of new products focused on connectivity and data systems, commercial expansion into new customers, geographies, and monitoring technologies, as well as the execution of complementary acquisitions to enhance integrated solutions for the Terra Insights customer base. This transaction represents the fifth successful exit for Vance Street Fund II and is expected to be completed in the first half of 2024.

Lazard is serving as the financial advisor, while O'Melveny & Myers and Davies Ward Phillips and Vineberg are acting as legal advisors to Terra Insights and Vance Street Capital. J.P. Morgan Securities Australia Limited is the financial advisor, and Gilbert+Tobin is the legal advisor to Orica in the acquisition.