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, according to a regulatory filing.
2 min read · 06 January 2015
U.S. private equity firm Centre Lane Partners has merged Canada's EPM Global Services Inc with the U.S.-headquartered STACI Corp. The two companies, which were acquired by Centre Lane Partners last year, both operate in the global electronics manufacturing services market. Established in 1993, the Markham, Ontario-based EPM serves industrial customers in North America and Europe and has operations in China. David M. Buckley, the current president and CEO of STACI, will lead the new business.
2 min read · 06 January 2015
CVC Capital Partners’ acquisition of a controlling stake in Sky Bet from European pay-TV group Sky will be backed with 390 million pounds ($591.67 million) of leveraged loans, while Golden Gate Capital will back its acquisition of ANGUS Chemical Company with $795 million of debt financing, banking sources told Reuters.
2 min read · 06 January 2015
Volaris Group Inc, a division of Constellation Software Inc, has bought Kinetic Solutions Ltd, a Cranfield, U.K.-based provider of event and accommodation software management solutions to educational institutions, venues and conference centres. The financial terms of the transaction were not released. Volaris said the acquisition expands its footprint in the asset management and logistics vertical for higher education. A Canadian software and services business, Constellation has been a portfolio investment of OMERS Private Equity since 2000.
2 min read · 06 January 2015
An affiliate of Equicapita has purchased A&R Metal Industries Ltd, a metal processing and steel fabricating company based in Richmond, British Columbia. The financial details of the transaction were not published. The acquisition is the third for Equicapita, a private equity firm that is focused on buying private Western Canadian businesses with enterprise values of $5 million to $20 million. Founded as an open ended trust in 2013, the firm has its headquarters in Calgary.
3 min read · 06 January 2015
Canadian Non-Operated Resources Corp (CNOR) has closed its previously announced joint venture with Tourmaline Oil Corp, which gives CNOR a 25 percent working interest in Tourmaline's Peace River High oil project in Alberta. Under the terms of the partnership, CNOR paid $500 million for its stake in project's complex of lands, wells, production, reserves and facilities. A Calgary-based oil and gas startup, CNOR was founded last August with a $675 million equity commitment, $300 million of which was committed by U.S. private equity firm Riverstone Holdings.
3 min read · 06 January 2015
Laricina Energy Ltd has missed its bitumen production covenant for the fiscal quarter ending December 31, 2014, putting it in default of $150 million secured loan from Canada Pension Plan Investment Board (CPPIB). The company received the debt funding in March 2014. Laricina said it is in discussions with CPPIB on a potential remedy to the default, and warned that a failure to reach an agreement "may result in the inability for the company to operate as a going concern." Based in Calgary, Laricina is focused on exploring oil sands properties in Western Canada. It has been backed by CPPIB and U.S. private equity firm Lime Rock Partners since 2010.
6 min read · 06 January 2015
Entertainment One Ltd (LSE: ETO) has bought a "significant" stake in The Mark Gordon Co. The deal is part of a joint venture to create a U.S.-based independent studio that will finance and produce film, network, cable, and digital premium content distributed by Entertainment One. The value of the investment was not disclosed, however, one source reported that Entertainment One paid US$132.6 million to obtain a majority position in Mark Gordon. Headquartered in Toronto, Entertainment One acquires, produces and distributes film and television content. It has been backed by British private equity firm Marwyn Investment Management since 2007.
5 min read · 06 January 2015
BluEarth Renewables Inc has bought SparkleLight, a 10 megawatt AC solar power plant located in Beavertown, Ontario, for about $66 million. The seller in the deal was Canadian Solar Inc, which in 2014 sold its Good Light and Little Creek solar power plants to BluEarth. SparkleLight, Good Light and Little Creek, which together have cost BluEarth a total of $185 million, are three of four planned solar power asset acquisitions from Canadian Solar. Based in Calgary, BluEarth is a renewable power producer focused on North American wind, water and solar projects. In November 2014, the company received $81 million in follow-on funding from existing Canadian investors ARC Financial Corp and Teachers’ Private Capital.
4 min read · 06 January 2015
Falfurrias Capital Partners has agreed to sell Richmond, Virgina-based registered investment advisor Dorsey, Wright & Associates to NASDAQ for $225 million.
1 min read · 06 January 2015
