OCR Canada Ltd, a provider of automated identification data capture solutions based in Markham, Ontario, has been acquired by Barcodes Inc. The financial details of the transaction were not published. Barcodes, a provider of barcode, point of sale, ID card and mobile computing products, said the acquisition will expand its presence into Canada and add to its North American field sales and integration capabilities. Headquartered in Chicago, Barcodes was purchased by U.S. private equity firm Cortec Group in 2012.
2 min read · 10 December 2014
Investors in Tim Hortons Inc (TSX, NYSE: THI) have approved its $12.6 billion acquisition by Burger King Worldwide Inc (NYSE: BKW). The transaction was approved by about 99.2 percent of shareholders. Tim Hortons and Burger King also announced the name of the new entity's parent company: Restaurant Brands International. Upon the deal's closing, shares of Restaurant Brands International will be traded on the New York Stock Exchange and the Toronto Stock Exchange under the trading symbol "QSR". Private equity firm 3G Capital is the majority owner of Burger King and will hold around 51 percent of the combined business.
6 min read · 09 December 2014
NMC Resource Corp (TSX-V: NRC), a portfolio company of Korean private equity firm KTB Private Equity, has entered into an agreement to go private. Under the agreement's terms, NMC will sell to Dong Won Corp all of its outstanding common shares not currently held by Dong Won or KTB at a price of $0.20 per share. Shareholders will vote on the deal in early 2015. Based in Vancouver, NMC is a molybdenum mining company with assets in British Columbia and South Korea. The British Columbia property, Boss Mountain Mine, is within the Cariboo Mining District.
6 min read · 09 December 2014
Tim Hortons Inc's chief executive will get a $1 million bonus following the $12.64 billion takeover deal by Burger King Worldwide, the Canadian coffee and donut chain said in a regulatory filing, on Monday, Reuters reported. The company said the discretionary bonus for CEO Marc Caira was awarded due to an increased workload as a result of the deal and strong quarterly results that beat market expectations.
2 min read · 09 December 2014
The deal activity of Brookfield Asset Management’s private equity group took several directions in 2014, but it appears to be mostly focus on North America’s energy industry, such as its purchase of distressed debt in power company Energy Future Holdings.
2 min read · 09 December 2014
Aphria Inc, a portfolio company of Canadian private equity firm Delavaco Group, has begun trading on the TSX Venture Exchange under the ticker symbol "APH". The listing followed the combination of Aphria with Black Sparrow Capital Corp. Based in Leamington, Ontario, the company is a producer, supplier and marketer of medical marijuana. In June, Vic Neufeld, the former president and CEO of Jamieson Laboratories Ltd, became the CEO and founding investor in Aphria. Delavaco at the same time provided an equity investment and $6.2 million private placement to the company.
4 min read · 08 December 2014
Aspenleaf Energy Ltd, a portfolio company of Canadian private equity firm ARC Financial Corp and Ontario Teachers’ Pension Plan (OTTP), has agreed to buy Coral Hill Energy Ltd. Shareholders of Coral Hill will have the option to receive $2.80 in cash per share or 2.8 class A common shares in the capital of Aspenleaf, subject to a total share maximum. The deal has been approved by the boards of directors of both companies and is expected to close by early 2015. Based in Calgary, Coral Hill is focused on exploring, developing and producing crude oil and natural gas in Alberta. In July, Aspenleaf launched an unsuccessful bid to acquire Arcan Resources Ltd.
4 min read · 08 December 2014
Integro Ltd has bought the assets of Finning Insurance Services (FIS), a Vancouver-based insurance broker, from Finning International Inc. The financial details of the acquisition were not disclosed. Integro, a U.S. insurance brokerage and risk management company, said FIS employees have joined its Canadian subsidiary, Integro Canada Ltd, which was established in 2005. It added that the deal will increase Integro's presence in Western Canada. Headquartered in New York, Integro is a portfolio investment of several U.S. private equity firms and investors, including aPriori Capital Partners, Weston Presidio, Century Capital Management and Cave Creek Capital.
3 min read · 08 December 2014
Ivanhoé Cambridge has purchased London's Stonecutter Court from Hines Global REIT. The acquisition price was £112 million ($200.75 million). Stonecutter is a 150,000 square-foot office property, leased principally to Deloitte as part of its central London office campus. Hines acquired the property in 2011. Ivanhoé Cambridge is the real estate investment arm of the Caisse de dépôt et placement du Québec.
3 min read · 08 December 2014
StorageVault Canada Inc has agreed to buy assets of Access Self Storage Inc and Cubeit Portable Storage Canada Inc for a combined total of around $51.3 million. The company will acquire all of the portable storage assets and business of Cubeit, and certain of the self-storage assets and business of Access. The deal, which will be done in two tranches, is subject to a number of conditions. Based in Regina, Saskatchewan, StorageVault owns and operates storage facilities located across Canada. It is backed by funds managed by Canadian private equity and venture capital firm PFM Capital.
10 min read · 08 December 2014
