Canadian private equity firm Fulcrum Capital Partners has made an equity investment in GI Group, a manufacturer and distributor of paintballs, markers and other paintball products headquartered in Montréal. The amount of the investment was not published. GI Group, which has leveraged its capacity for softgel encapsulation for other products, will use deal proceeds to facilitate its continued growth. Fulcrum Capital's investment was the first to be made by its latest mid-market fund, Fulcrum Capital Partners V LP. As reported by peHUB Canada, Fund V raised $180 million of its $300 million target in December 2014. The firm said capital committed to the fund now totals $205 million.
2 min read · 02 March 2015
Sprylogics International Corp (TSXV: SPY) has said it will complete a non-brokered private placement intended to generate $2 million in gross proceeds. Delavaco Group, a Canadian private equity and merchant banking firm, will be the lead investor in the transaction. Based in Concord, Ontario, Sprylogics is a provider of local mobile solutions for consumers and businesses. The company plans to use proceeds of the deal to promote and develop its BreakingSports app, which distributes sports information tracked on social media.
4 min read · 02 March 2015
British cinema operator Vue Entertainment is preparing a bid for Nordic peer Nordic Cinema Group, majority-owned by listed Swedish private equity firm Ratos, Reuters reported citing a story by The Sunday Times. Citing analysts, The Sunday Times said Nordic Cinema could be worth between 350 and 400 million pounds (US$617 million). Vue has been a portfolio company of OMERS Private Equity and Alberta Investment Management Corp since 2013.
1 min read · 02 March 2015
Mitel Networks Corp (TSX: MNW) has agreed to acquire Mavenir Systems Inc (NYSE: MVNR), a provider of software-based networking solutions for mobile carriers based in Richardson, Texas. The cash and stock deal, which is expected to close in the second quarter, is valued at about $560 million. Before going public in 2013, Mavenir was venture-backed. Mitel said the acquisition will create a global leader in converged IP communications for enterprises, service providers and mobile operators. The Ottawa-based company, which is backed by Francisco Partners, Wesley Clover and other investors, made an unsuccessful bid last year to purchase ShoreTel Inc.
10 min read · 02 March 2015
The following bids, mergers, acquisitions and disposals were reported by Reuters for Feb. 23 through Feb. 27, 2015.
10 min read · 28 February 2015
The following bids, mergers, acquisitions and disposals were reported by Reuters as of 2100 GMT on Friday, Feb. 27.
2 min read · 28 February 2015
The Ontario Municipal Employees Retirement System (OMERS) concluded 2014 with net assets totaling $72 billion and a 10 percent net return, which exceeded its long term funding requirement. Public investments returned a net of 10.7 percent, helped by strong bond prices, while private investments returned a net of 9.5 percent. OMERS' overall performance was supported by OMERS Private Equity, which showed a 14.4 percent return last year. Its net managed assets currently total $6.7 billion. Borealis Infrastructure turned in a 12.7 percent return, with net assets totaling $12.7 billion. Detailed OMERS' performance data are found here.
2 min read · 27 February 2015
Grenville Strategic Royalty Corp has agreed to provide $1 million to WATCH IT! Inc in exchange for a gross sales royalty. The deal includes an option for Grenville to advance an additional $1 million. Based in Calgary, WATCH IT! is a retailer and franchisor of brand name watches, sunglasses, accessories, and watch repair services. It operates over 30 corporate and franchise boutique stores across Canada. To date, Grenville has completed about $26.2 million in royalty financings in North America.
7 min read · 27 February 2015
Maskatel, a telecommunications company based in Saint-Hyacinthe, Québec, has agreed to combine with Xittel, a telecommunications service provider based in Trois-Rivières, Québec. The transaction, the financial details of which were not disclosed, is expected to be completed in the coming months. Maskatel and Xittel said their merger will create a new telecommunications business that will be a leader in Québec’s regional markets. Maskatel is a portfolio investment of Birch Hill Equity Partners, while Xittel is a portfolio investment of Fondaction CSN. Birch Hill and Fondaction CSN provided undisclosed financial support to make the merger agreement possible.
4 min read · 27 February 2015
Cast & Crew Entertainment Services LLC, a private equity-owned company that helps make sure that everyone in Hollywood movie and television crews, from actors to cameramen, gets paid, is exploring a sale, people familiar with the matter told news service Reuters.
2 min read · 26 February 2015
