Alcorn Partners invest in Book Depot Inc. (opens in a new tab)
Book Depot announces Alcorn as its new long-term partner, with the existing leadership team continuing.
Permanent-Capital Investor
Toronto partner-owned holding company that buys majority stakes in profitable North American businesses to own for decades.
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Alcorn Partners is a Toronto investment firm launched in July 2023 by Greg Duggan (CEO) and Shamez Virani (Chair). Rather than raising a conventional fund, it describes itself as a partner-owned holding company investing its own capital through a 20-year vehicle, buying majority stakes in North American-headquartered businesses with at least $5 million of annual profit and holding them for decades. It reports more than $200 million invested since 2023 across three Ontario companies (Nightingale, Shark Marine and Book Depot). For students it is a very small, single-office team (a handful of investment professionals) doing lower mid-market control deals and hands-on portfolio work; no student program is published on its site.
Generalist control investments in North American-headquartered businesses with at least $5 million of annual profit and strong margins, structured with existing owners and management and intended to be held for decades rather than sold on a fund timetable.
Works with retiring founders and CEOs on succession, develops or supplements management teams, and runs operational strategy and value creation across the portfolio through a dedicated Head of Operations.
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Co-Founder and CEO
Leadership
Co-founded Alcorn and leads its strategy, team and operations. Previously a Partner at Toronto investment holding company Alignvest Management Corporation, and before that in Onex's private equity group (aerospace) after starting in Credit Suisse's investment banking division. Harvard MBA, Queen's BCom and CFA charterholder.
Co-Founder and Chair
Leadership
Co-founded Alcorn and shapes its vision, strategy and organizational design. Spent over a decade helping lead real estate developer CentreCourt from start-up to a major Canadian developer, and earlier worked in Goldman Sachs' investment banking division. Columbia MBA and Ivey HBA.
Head of Investments
Investments
Leads Alcorn's investment sourcing and execution. Previously held a senior role at a large Canadian pension plan making $50-350 million equity investments, and before that was a Principal at Ironbridge Equity Partners, including a stint as CFO of portfolio company Kore Outdoor. Began at Oliver Wyman in New York; Ivey HBA and CFA charterholder.
Head of Operations
Operations
Leads operational strategy and value creation across Alcorn's portfolio. Previously CFO and Head of Growth at Krispy Kreme Canada after senior operating roles at Krispy Kreme in the US, and earlier an Associate Partner at McKinsey & Company. Columbia MBA and University of Pennsylvania mechanical engineering degree.
Senior Associate
Investments
Works across transactions, strategic initiatives and portfolio-company operations. Previously an investment professional at Novacap, evaluating platform and add-on deals in technology (IT services, telecom, cybersecurity, healthtech, datacentres), and before that completed M&A transactions at Sampford Advisors. Ivey HBA.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Oct 31, 2025
Book Depot Inc.
Acquirer · Bargain and remainder book distribution
Buyer Alcorn Partners
Investment in Thorold, Ontario-based Book Depot, a remainder and bargain book business with distribution centres in Thorold and Jefferson City, Tennessee (brands include Book Outlet). Existing leadership under CEO Wilf Wikkerink stays in place; stake and value undisclosed.
Oct 1, 2024
Shark Marine (Shark Marine Technologies)
Acquirer · Underwater navigation systems and ROVs
Buyer Alcorn Partners
Investment (dated October 2024 on Alcorn's portfolio page; month only) in a St. Catharines, Ontario maker of underwater navigation hardware and remotely operated vehicles used by military, scientific and industrial clients. Founder Jim Garrington stays involved in product development as part of a succession plan.
Book Depot announces Alcorn as its new long-term partner, with the existing leadership team continuing.
Alcorn partners with Ivey Business School on a two-day Entrepreneurship Through Acquisition program for 20 students, with Greg Duggan among the speakers.
Invests in St. Catharines underwater-navigation and ROV maker Shark Marine.
Invests in Mississauga ergonomic-seating manufacturer Nightingale, founded in 1928.
Launch release describing the 20-year, recyclable capital vehicle and a target of over $120 million of acquisitions.
No sourced people moves for this firm. BSO publishes a fact only once it can attribute it to a named source, so these stay off the page rather than being filled in from inference. If you know something published that belongs here, it is the fastest way to get it added.
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Book Depot Inc. · Oct 31, 2025 · bookdepotinc.com
Alcorn Partners (via Cision / Newswire.ca) · Jul 5, 2023 · newswire.ca
Alcorn Partners · Date unavailable · alcornpartners.com
Alcorn Partners · Date unavailable · alcornpartners.com
Alcorn Partners · Date unavailable · alcornpartners.com
Alcorn Partners · Date unavailable · alcornpartners.com
Western University (entrepreneurship.uwo.ca) · Oct 1, 2024 · entrepreneurship.uwo.ca
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