Canadian virtualization technology solutions company Sphere 3D Corp (TSX-V: ANY) has completed its merger with Overland Storage Inc (Nasdaq: OVRL), a U.S. unified data management and data protection solutions provider. It was previously reported that the deal, which saw Overland become a subsidiary of Sphere 3D, involved a payment to Overland shareholders of approximately US$81.1 million. Overland Storage's majority investor was U.S. private equity firm Cyrus Capital Partners. The Mississauga, Ontario-based Sphere 3D is a portfolio company of Pinetree Capital.
6 min read · 02 December 2014
Canadian buyout firm Onex Corp is in talks to buy a U.K. safety and survival equipment maker from Warburg Pincus for about 450 million pounds (US$704 million), Reuters reported, citing a Bloomberg story. The two private equity firms are negotiating a price for Survitec Group Ltd and a deal is expected before the end of the month.
1 min read · 02 December 2014
Bri-Chem Corp (TSX: BRY) has acquired Solution Blend Service Ltd, a Calgary-based specialty blending company focused on the oilfield chemical industry. The purchase price was $5 million, which includes a $500,000 two-year vendor takeback. Bri-Chem, a wholesale distributor and blender of oilfield chemicals, said the deal facilitates its entry into the liquid production and stimulation chemical blending market. Based in Edmonton, the company is a portfolio investment of Canadian mid-market private equity firm Fulcrum Capital Partners.
3 min read · 02 December 2014
Shareholders to French energy services group Spie are looking to take a 430 million euro (US$533.3 million) dividend payment as part of a wider 911 million euro debt refinancing, banking sources told Reuters. After taking the dividend payment, Spie's owners, which include private equity firms Ardian, Clayton Dubilier & Rice and the Caisse de dépôt et placement du Québec, will still have around 50 percent of equity in the company, sources said.
2 min read · 02 December 2014
Avison Young Inc has completed its previously announced buy of Abood Wood-Fay Real Estate Group LLC, a commercial real estate brokerage and property management company that operates as Colliers International South Florida. The acquisition's value was not disclosed. Avison said the deal expands its business-line coverage in Florida. A Toronto-based commercial real estate services provider, Avison has been a portfolio company of Canadian mid-market private equity firm Tricor Pacific Capital since 2011.
4 min read · 02 December 2014
Ontario Teachers' Pension Plan has hired Jo Taylor as its managing director for Europe, Middle East and Africa (EMEA) and head of its London office. In his new position, Taylor will be responsible for private equity investments in the EMEA region. Taylor, who joined Teachers' in 2012, is a former venture head at U.K.-based private equity firm 3i Group Plc. Update: Teachers' has a diverse portfolio of assets in the region, which was valued at approximately $21 billion as of December 31, 2013.
2 min read · 02 December 2014
UAS Laboratories LLC has purchased certain intellectual property assets of Micropharma Ltd, a Montréal-based developer of theraputics, diagnostics and devices based on the human microbiome. The financial terms of the deal were not disclosed. UAS Labs said the acquisition will support its objective to provide probiotic-based health solutions worldwide. Headquartered in Wausau, Wisconsin, UAS Labs was acquired by U.S. private equity firm Lakeview Equity Partners in 2013. A spin-off of McGill University, Micropharma was founded in 2004 and has been backed by private investors.
3 min read · 02 December 2014
A high-profile $2.02 billion leveraged loan for private equity-backed Tibco Software is the latest U.S. buyout deal that has been forced to add expensive perks to attract buyers as risk-averse investors hold out for better terms amid a market correction.
4 min read · 02 December 2014
A 3 billion euro-equivalent (US$3.75 billion) leveraged loan and high yield bond financing backing Canadian buyout firm Onex Corp’s acquisition of Swiss packaging group SIG Combibloc will launch for syndication in January, Reuters reported. Onex announced in November that it would buy SIG for up to 3.57 billion euros (US$4.43 billion).
1 min read · 01 December 2014
A subsidiary of Canadian beverage producer Cott Corp (TSX: BCB) (NYSE: COT) intends to offer $615 million of senior notes to qualified institutional buyers and non-U.S. individuals. Proceeds of the offering are expected to help finance the cost of Cott's proposed US$1.25 billion acquisition of DSS Group Inc, the parent of DS Services of America Inc, a U.S.-based distributor of bottled water and coffee. Cott plans to finance the rest of the transaction through its asset-based lending facility and a private offering to current DSS investors. DSS is backed by U.S. private equity firm Crestview Partners.
3 min read · 01 December 2014
