TPG Capital has sold a 17.5 percent stake in PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) to an affiliate of Japan’s Sumitomo Corp for 5.93 trillion rupiah ($461.8 million), Reuters reported.
1 min read · 18 February 2015
Canadian private equity firm Lynx Equity has acquired Kitchen Creations Inc, a manufacturer, designer, and installer of kitchen and bath cabinetry for retail customers and large developers. The financial terms of the transaction were not published. Founded in 1992, Kitchen Creations is based in Fredericton, New Brunswick. The deal brings the number of companies in Lynx Equity's portfolio to 41 in total. Headquartered in Toronto, the firm is focused on buying small businesses from owners looking to retire.
2 min read · 18 February 2015
Grenville Strategic Royalty Corp has advanced $500,000 in follow-on funding to Sécurité Above Inc, an information technology security service provider with headquarters in Montréal. The investment is intended to support the company's purchase of Seccuris Inc, an information assurance integrator platform based in Winnipeg. The acquisition, the value of which was not disclosed, will create the only pure-play managed security services provider with two centres in Canada, Sécurité Above said in a statement. Grenville, a Toronto-based provider of royalty financing, also invested in the company in 2014.
8 min read · 18 February 2015
Brazilian billionaire Abilio Diniz is considering selling a portfolio of commercial properties for about US$706 million, a move that would give him extra funds to invest in France's Carrefour SA, sources told Reuters. Península Participações, the investment vehicle overseeing Diniz's fortune, has discussed the sale of 62 supermarkets with Canada Pension Plan Investment Board (CPPIB), Brookfield Asset Management and BR Properties SA, one of the sources said.
3 min read · 18 February 2015
The Aentib Group, a boutique financial advisory and investment firm, has launched a new office in Montréal. According to the firm, Aentib's new Canadian headquarters will focus mainly in the Americas "but leverage the global network of institutions and advisors that Aentib (with other offices in China and Germany) is known for." Update: Aentib, which aims to attract foreign capital to Canada, was co-founded by Jean Salomé, who has previously worked with several private equity and venture capital firms.
3 min read · 18 February 2015
Blackstone Group has hired Bank of America Merrill Lynch and Morgan Stanley as global coordinators to prepare a potential London listing of British-based resorts group Center Parcs, two sources familiar with the matter told Reuters.
2 min read · 18 February 2015
Crude price volatility may not have completely closed the funding doors for US high-yield energy companies as private equity firms and new funds prepare to snap up juicy yields on offer after a recent slump in the sector’s bonds, IFR reports.
4 min read · 18 February 2015
Republic Services Inc (NYSE: RSG) has completed its previously announced purchase of Tervita LLC, the U.S. subsidiary of Canadian environmental waste solutions provider Tervita Corp. The financial terms of deal were not published. Republic Services, a U.S. recycling and non-hazardous solid waste company, said the acquisition will support its expansion into the energy exploration and production waste sector. Since 2007, the Calgary-based Tervita has been backed by a number of Canadian and U.S. private equity investors, including CAI Private Equity, Kelso & Co and Vestar Capital Partners.
2 min read · 17 February 2015
Osisko Gold Royalties Ltd (TSX: OR) has completed its previously announced acquisition of Virginia Mines Inc (TSX: VGQ). The deal, which creates a new intermediate royalty company with gold royalty assets in Québec, was originally priced at about $479 million. The Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ, which are existing investors in the Montréal-based Osisko, contributed to the funding of transaction.
5 min read · 17 February 2015
Advantage Rent A Car, a portfolio company of Canadian private equity firm Catalyst Capital Group, has agreed to purchase E-Z Rent-A-Car Group Holding LLC, a provider of car rental services based in Orlando, Florida. The financial details of the transaction were not disclosed. The deal, which is expected to close in the second quarter, will optimize the resources and capabilities of the two brands and create a stronger car rental provider in the United States with a network of 85 locations, Advantage Rent A Car said. Based in Fort Lauderdale, Florida, the company and related assets were acquired by Catalyst Capital in 2014.
4 min read · 17 February 2015
