Private Equity
StoneCalibre, a U.S. private investment firm, has acquired the secure document exchange business unit, which includes Sagemcom Canada Inc, from France's Sagemcom Documents SAS. No financial terms were disclosed. Sagemcom Canada, which is based in Montréal, has also been renamed XMedius Solutions Inc. XMedius specializes in helping enterprises to securely exchange vital and confidential information using different solutions. StoneCalibre said it plans to seek acquisition opportunities to support the company's global growth. XMedius is led by CEO Jean Champagne.
3 min read · 24 December 2015
West Face Capital has provided a $1.6 million loan to Chieftain Metals Corp (TSX-V: CFB), a Toronto-based acquirer, explorer and developer of mineral properties. The loan's proceeds will be used for working capital purposes. Chieftain's business is focused on the development of the Tulsequah Project, which is located in British Columbia. West Face, a Canadian alternative investment firm, has "substantial shareholdings" in Chieftain, the company said.
4 min read · 23 December 2015
Canadian online investment platform NexusCrowd has raised funding for a real estate project in the Greater Toronto Area. NexusCrowd secured $500,000 from accredited investors for a total $5.8 million equity raise for the project, which involves redevelopment of three industrial properties in the Greater Toronto Area. Downing Street Realty Partners, a Canadian real estate investment manager and merchant bank, purchased the properties over a year ago. The work is expected to be completed in October 2016.
4 min read · 23 December 2015
Nelson Global Products, a portfolio investment of U.S. private equity firm Wind Point Partners, has acquired GT Exhaust Inc and Silex Innovations Inc from parent company IAC Group. No financial terms were disclosed. Based in Mississauga, Ontario, Silex provides a complete line of standard and customized exhaust products. They include industrial silencers, emission control products, insulation blankets, connectors, expansion bellows and exhaust accessories. U.S.-based Nelson has been backed by Wind Point since 2010.
2 min read · 23 December 2015
Airbus has agreed to acquire 100 percent of the shares of Navtech Inc, a Canadian provider of flight operations solutions, serving more than 400 airlines and aviation services customers worldwide. The deal's financial terms were not released. France's Airbus, an aircraft designer and manufacturer, said the deal supports its digitalization and services growth strategies. Based in Waterloo, Ontario, Navtech has been a portfolio investment of U.S. private equity firm ABRY Partners since November 2005. It also received an investment from Veronis Suhler Stevenson in June 2013. Earlier this year, the company acquired DW International Ltd, a British air technical services business.
2 min read · 22 December 2015
Federal Signal Corp (NYSE: FSS) has agreed to acquire Westech Vac Systems Ltd, a manufacturer of high-quality, rugged vacuum trucks based in Nisku, Alberta. No financial terms were disclosed for the all-cash deal, which is expected to close in January. The seller of Westech is Advance Engineered Products Ltd, a Canadian designer and manufacturer of tank truck and trailer equipment. Advance, which obtained creditor protection earlier this year, was acquired in October by Canadian private equity firm Ironbridge Equity Partners. Ironbridge recently confirmed the investment, noting it was made by Ironbridge Equity Partners II LP, which raised $154 million in 2014.
3 min read · 22 December 2015
Australia's antitrust regulator said it will consider a watered down version of Canadian infrastructure giant Brookfield Asset Management's US$6.5 billion bid for freight firm Asciano Ltd, reviving the prospect of a deal, Reuters reported. The Australian Competition and Consumer Commission (ACCC) said Brookfield offered to sell one of the target company's rail freight businesses and one of its own coal terminals to ease concerns that the buyout would give it too much market dominance. The move is a blow to rival Australian bidder Qube Holdings Ltd.
2 min read · 22 December 2015
KODA Distribution Group (KDG), which bought Unipex Solutions Canada Inc earlier this year, has been sold to Azelis Group, a Belgian specialty chemicals distributor. No financial terms were disclosed. U.S.-based KDG was sold to Azelis, a portfolio company of British private equity firm Apax Partners, by Audax Group, a U.S. private equity firm that has backed KDG since 2010. Unipex Solutions, previously a portfolio company of IK Investment Partners, was among KDG's seven add-on acquisitions.
3 min read · 21 December 2015
European telecoms group Altice (ATCA.AS) said it has completed the previously announced purchase of 70 percent of U.S. regional cable company Suddenlink from existing shareholders in a deal worth US$9.1 billion, Reuters reported. U.K.-based private equity firm BC Partners and Canada Pension Plan Investment Board, which jointly acquired Suddenlink in 2012, retained a 30 percent stake in the company.
1 min read · 21 December 2015
Babson Capital Management said it agented senior secured credit facilities in support of Gryphon Investors' majority investment in The Original Cakerie, a Canadian frozen dessert manufacturer. No financial terms were released. Gryphon, a U.S. private equity firm, announced the deal in November. Babson led a syndication of the senior credit facility, which it said was nearly two times oversubscribed.
3 min read · 21 December 2015
