Private Equity
French calibration specialist Trescal has acquired Primo Instrument, a supplier of test and measurement equipment based in Montréal. No financial terms were disclosed. The transaction was completed with the support of Trescal's majority investor, Ardian, a European private equity firm. Trescal, which operates in 16 countries, said the deal expands its footprint to Canada, where the company has a large number of aeronautics and space customers. Primo’s founders will continue to lead the post-acquisition company. Ardian bought Trescal from 3i Group and TCR Capital in July 2013.
2 min read · 08 January 2016
Blackstone Group and Ivanhoé Cambridge will form a new property management company at New York-based Peter Cooper Village Stuyvesant Town (PCVST). No financial terms were disclosed. Rick Hayduk has also been named general manager of PCVST effective January 1st. Ivanhoé, the real estate investment arm of the Caisse de dépôt et placement du Québec, partnered with Blackstone in the acquisition of PCVST, a private residential development, late last year.
4 min read · 07 January 2016
Avison Young Inc has bought Metrix Realty Group (Ontario) Inc, a property appraisal company based in Richmond Hill, Ontario. No financial terms were disclosed. Avison, a commercial real estate services provider, said the deal expands its valuation and advisory service business-line coverage in the Greater Toronto Area and across Canada. Toronto-based Avison has been a portfolio investment of Canadian private equity firm Tricor Pacifc Capital since 2011. Late last year, Tricor rebranded its fifth fund, Tricor Pacific Capital Partners Fund V, creating a new private equity firm: Parallel49 Equity.
6 min read · 06 January 2016
Canada's Brookfield Asset Management and Chile's Colbun will bid for the controlling stake in Colombian power generator Isagen at an auction on January 13, Reuters reported, citing a statement by the Colombian Finance Ministry. Consortiums controlled by the two firms confirmed their continued interest in the 57.6 percent stake in Isagen, the ministry said. The stake is valued at around US$1.94 billion.
1 min read · 05 January 2016
Compuware Corp, a portfolio investment of U.S. private equity firm Thoma Bravo, has acquired the assets of ISPW Benchmark Technologies Ltd, a Calgary-based software and services company. No financial terms were released. Founded in 1986, ISPW provides end-to-end code management and release automation across all platforms, enabling information technology to fulfill business requirements, optimize code quality, and improve developer productivity. Compuware, a Detroit-based software company, said the buy supports its mainframe strategy. In late 2014, Compuware was taken private by Thoma Bravo in a deal valued at about US$2.4 billion.
5 min read · 05 January 2016
Canadian private equity firm Onex Corp has promoted Todd Clegg to managing director. Clegg, who joined the firm in September 2005 from JPMorgan, has worked on several portfolio investments, including York Risk Services Group Inc, a U.S.-based provider of risk management, claims management and managed care services acquired from ABRY Partners in late 2014. From Onex's office in New York, Clegg will in his new role be responsible for leading the firm's origination efforts in the financial services industry.
2 min read · 05 January 2016
Canadian gold mining company Banro Corp (NYSE, TSX: BAA) has raised US$98.75 million in an equity private placement, a term loan facility, and a gold streaming deal. The investors are ResourceFinanceWorks (RFW), a Chinese mining fund, and Gramercy Funds Management LLC, a U.S. emerging markets investment firm. Toronto-based Banro is currently on focused on its Twangiza and Namoya mines, which are located in the Democratic Republic of Congo.
7 min read · 04 January 2016
TriWest Capital Partners has acquired ATCO Emissions Management from its parent company ATCO. No financial terms were disclosed for the transaction that is expected to be completed on December 31, 2015.
1 min read · 30 December 2015
IHS Automotive announced this week that it has acquired CARPROOF Corporation, a London, Ontario-based provider of comprehensive used vehicle history reports, for approximately $650 million. A portfolio company of U.S. private equity firm Hellman & Friedman, PE Hub Canada reported on CARPROOF's acquisition of Canadian Red Book in July 2014
3 min read · 29 December 2015
Mexico's ICA has sold its stake in an environmental waste firm for around 1.2 billion pesos (US$69.69 million), sources told Reuters, as the embattled construction company scrambles for cash after declaring it would default. ICA is also in talks with Canada's second largest pension fund, Caisse de dépôt et placement du Québec, over possible asset sales, a source said. Earlier this year, the Caisse said it would pay 3 billion pesos for a 49 percent stake in Mexican infrastructure joint ventures with ICA.
2 min read · 24 December 2015
