The growing ranks of the super rich and their increased appetite for risk have caught the eye of investment bankers, Reuters reports.
4 min read · 26 January 2015
Struggling Canadian wireless operator Mobilicity will not bid for more airwaves in one upcoming government auction and is trying to secure funding to participate in another, its court-appointed monitor said in a filing on the company's website, Reuters reported. The report also said that Mobilicity has discussed selling itself with several parties and that talks are continuing. Mobilicity is a portfolio investment of U.S. private equity firm Quadrangle Group.
2 min read · 26 January 2015
Tervita Corp has welcomed the decision of the Supreme Court of Canada to allow its 2011 acquisition of Complete Environmental Inc and subsidiary Babkirk Land Services Inc. The company said the decision will allow it to proceed with developing a secure landfill in Northeastern British Columbia and add a disposal site to its network of strategically located disposal facilities. Based in Calgary, Tervita is an environmental solutions provider. Since 2007, it 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 · 26 January 2015
Canadian merchant bank Cairn Merchant Partners has taken an equity interest in All in West! Capital Corp (TSX Venture: ALW), an acquirer and developer of hotels and independent living senior's residences in Western Canada. The deal, the value of which was not disclosed, involved securities previously owned by Tribal Council Investment Group of Manitoba Ltd. The acquisition was made on behalf of Cairn by affiliate Roper Capital Corp and upon closing will give Cairn approximately 11.6 percent of the outstanding common shares of the Winnipeg-based company.
2 min read · 26 January 2015
Atlas Merchant Capital, founded by ex-Barclays chief executive Bob Diamond, has set out to raise an estimated $1 billion for a fund earmarked for investments in financial services around the world. Will investors see past some red flags to the vast opportunity beyond?
4 min read · 26 January 2015
By all accounts 2014 will be a banner year for Canada’s private equity market. The whole story will be told when Thomson Reuters publishes its year-end market report in the coming weeks.
3 min read · 26 January 2015
U.S.-based Brake Parts Inc LLC (BPI) has agreed to buy OE Quality Friction Inc, a Canadian maker of original equipment quality disc brake pads for the automotive aftermarket. BPI said it entered into an an asset purchase agreement with the Mississauga, Ontario-based company's receiver on January 20. The deal, the financial terms of which were not disclosed, is expected to close this month. A brake system products manufacturer and supplier, BPI was bought in 2013 by a group of investors led by U.S. private equity firm Torque Capital Group. OE Quality Friction is a portfolio company of U.S. private equity firm Huron Capital Partners.
2 min read · 23 January 2015
Alberta Investment Management Corp (AIMCo) has appointed Dale MacMaster as its chief investment officer (CIO), effective immediately. In this role, he will oversee the investment management of the Edmonton-based pension fund's $80 billion in assets. Prior to assuming the new role, MacMaster served as AIMCo's executive vice president of public market investments. He has been with the firm since 1998. Last November, AIMCo hired Kevin Uebelein as its new CEO, replacing Dr. Leo de Bever.
3 min read · 23 January 2015
A senior U.S. Securities and Exchange Commission official said any enforcement cases against private equity firms over how they handled fees and expenses could take years to build, but that may not be necessary in many instances, Reuters reported Jan. 22.
2 min read · 22 January 2015
Nettwerk Music Group Inc has bought Robot of the Century Music, a U.S. independent music publisher founded out of Roadrunner Records. The financial terms of the deal were not released. As a result of the acquisition, Nettwerk’s teams in North America and Europe will work directly with Robot of the Century artists and songwriters. Based in Vancouver, Nettwerk is a record label, artist management and publishing company. It is backed by Canadian growth equity firm Beedie Capital Partners, U.S. private equity firm HBC Investments and other investors.
2 min read · 22 January 2015
