The Caisse de dépôt et placement du Québec has entered into an agreement with the Québec government to finance, develop and operate infrastructure projects of interest to the pension fund manager. Two projects identified as priorities under the agreement involve the development of new public transit facilities in the Montréal region. These projects, which are expected to be completed by 2020, require financing estimated at about $5 billion. The Caisse also announced the creation of a new infrastructure subsidiary, to be called CDPQ Infra, which will explore and execute on project opportunities in Québec and other jurisdictions in North America.
6 min read · 13 January 2015
Canada Goose Inc has bought the assets of Grand Harbour Clothing Inc, a Scarborough, Ontario-based clothing manufacturer and a long-standing partner of the company. The financial details of the transaction were not published. Canada Goose said the acquisition will give it a 45,000 square-foot manufacturing facility, additional employees, and an anticipated efficiency increase of 25 percent. Based in Toronto, Canada Goose specializes in producing extreme weather outerwear. It was acquired by U.S. private equity firm Bain Capital in December 2013.
3 min read · 13 January 2015
HMV Canada in late December 2014 completed a refinancing of its banking facilities with the Bank of Montreal (BMO), providing the company with a $30 million facility through to 2017. HMV Canada, which was acquired in 2011 by Re:Capital Canada, a subsidiary of U.K. private equity firm Hilco Capital, is a provider of visual and audio merchandise online and in 108 stores across Canada. The company's former British parent is also owned by Hilco. In June 2013, peHUB Canada interviewed Hilco investment director Chris Emmott about the launch and investment activity of Re:Capital Canada.
2 min read · 13 January 2015
The Dwyer Group Inc, a portfolio company of U.S. private equity firm The Riverside Company, recently acquired Five Star Painting for an undisclosed amount. Founded in Edmonton in 2004, Five Star is a commercial and residential painting franchise with 77 locations across North America. The company opened its first franchise in Canada in 2005, according to Five Star's website. Based in Waco, Texas, Dwyer is a holding company of franchise businesses. It was bought for the second time by Riverside in August 2014.
3 min read · 12 January 2015
The owner of London's Canary Wharf financial district advised its investors to reject a Qatari-led US$4 billion takeover bid on Monday, saying the offer undervalued the company and its prospects, Reuters reported. Songbird Estates Plc said the 350 pence per share cash offer from Qatar Investment Authority (QIA) and Canadian investor Brookfield Property Partners LP did not reflect the value of its property or growth potential.
2 min read · 12 January 2015
TriCan Tire Distributors Inc, the Canadian subsidiary of American Tire Distributors Inc (ATD), has purchased Edmonton's Integra Tire and Auto Centers, an affiliated store program with over 80 locations servicing consumers across Canada. The financial details of the transaction were not disclosed. Separately, TriCan also announced the launch of a new brand, National Tire Distributors, which will encompass the company's distribution activity in Canada. U.S.-based tire supplier ATD is a portfolio investment of U.S. private equity firm TPG Capital. TPG bought the company in 2010.
2 min read · 12 January 2015
Mullen Group Ltd (TSX: MTL) has closed its previously announced acquisition of Gardewine Group LP, a portfolio company of Canadian private equity firm TriWest Capital Partners. The all-cash transaction had a final value of $172 million. Based in Winnipeg, Manitoba, Gardewine is a provider of regional less-than-truckload, truckload and specialized truckload services primarily in Manitoba and Ontario. TriWest invested in the company in partnership with management in 2008. Going forward, Mullen said Gardewine will operate as an indirect, wholly-owned subsidiary business.
2 min read · 12 January 2015
Canadian private equity firm Onex Corp has agreed to buy Survitec Group, a U.K. safety and survival equipment maker, for US$680 million. Onex Partners IV will make an investment of approximately US$320 million for substantially all of the equity, with the remainder owned by Survitec's management. The transaction is expected to be completed in the first quarter of 2015. Update: The announcement by Onex confirms an earlier report by Reuters that Onex was in talks to acquire Survitec, which has its headquarters in Southampton, United Kingdom.
3 min read · 12 January 2015
The last few weeks of the year are always a good time to sit and ponder. We reached out to those sources we could actually locate to capture some of their deep thoughts on what 2015 will look like. Here are their answers, in no particular order:
2 min read · 12 January 2015
Nautilus Solar Energy LLC has obtained a $39 million construction and term facility from global financial services provider Rabobank. The facility will support development of a solar photovoltaic portfolio of distributed generation projects in Ontario managed by the company's Canadian subsidiary Nautilus Solar Energy Canada Inc. Nautilus said the deal is one of the largest to date for Canadian solar projects backed by local community co-operatives and First Nations. Last June, it was reported that Nautilus Solar Energy Canada's portfolio had secured an investment from U.S.-based GoldenSet Capital Partners and North Sky Capital.
5 min read · 09 January 2015
