The U.S. subsidiary of NCSG Crane & Heavy Haul Corp has bought substantially all of the assets of H&H Crane Service Inc, a supplier of fully operated and maintained crane services located in Great Falls, Montana. The value of the acquisition was not disclosed. As part of the deal, Tom Harant, founder of H&H's parent company, has taken an ownership interest in NCSG. Based in Edmonton, NCSG is a crane and heavy haul business backed by Canadian private equity firm TriWest Capital Partners and U.S. investor NCA Partners. TriWest led a majority investment in the company in June 2014.
3 min read · 11 November 2014
Vista Equity Partners has worked in an unusual clause in its contracts with private equity fund investors that gives it more financing flexibility and a leg up in leveraged buyouts, but also carries more risks for it and its investors, people familiar with the matter told Reuters news service.
4 min read · 11 November 2014
Dicom Transportation Group, which was bought by U.S. private equity firm Wind Point Partners earlier this year, has acquired Time Logistics Couriers LLC. The financial terms of the transaction were not released. For Dicom, a Montréal-based provider of business-to-business transportation services, the deal represents an expansion of its platform into the United States. Time Logistics, which is a provider of business-to-business logistics services, has its headquarters in Norcross, Georgia. Dicom plans to undertake additional acquisitions in Québec, Ontario and the United States.
3 min read · 11 November 2014
The debt-laden parent of outdoor advertising company Clear Channel Outdoor Holdings is exploring options for its European outdoor advertising business after receiving offers from private equity firms, according to four people familiar with the matter.
2 min read · 11 November 2014
Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL) has increased its bid to acquire ShoreTel Inc (Nasdaq: SHOR) to around $547 million. The previous offer, announced last month, was priced at around $540 million. ShoreTel, a Sunnyvale, California-based business communications solutions provider, rejected the earlier proposal. Mitel president and CEO Richard McBee said the merger has the potential "to add sustained value to both organizations, and to solidify our combined leadership position in a highly competitive and rapidly consolidating market." The Ottawa-based Mitel is backed by Francisco Partners, Wesley Clover International Corp and other investors.
9 min read · 10 November 2014
Kevin McDowell has left Alberta Investment Management Corp (AIMCo) after nearly 14 years with the institutional investor. McDowell joined the Alberta Teachers’ Retirement Fund Board’s private equity program as a senior principal in June.
1 min read · 10 November 2014
Avison Young Inc has agreed to acquire commercial real estate brokerage and property management company Abood Wood-Fay Real Estate Group LLC, which does business as Colliers International South Florida. The transaction's financial details were not published. Avison said the deal, which is expected to close this year, will expand its business-line coverage in Florida. Based in Toronto, Avison is a commercial real estate services provider and a portfolio company of Canadian private equity firm Tricor Pacific Capital. In September, Tricor made a second investment in Avison, adding to the original $40 million it invested in 2011.
8 min read · 10 November 2014
Extendicare has agreed to sell substantially all of its U.S. business operations to an investor group led by U.S. private equity firm Formation Capital and Safanad for US$870 million. The deal is expected to be closed in early 2015. Based in Markham, Ontario, Extendicare is a North American provider of post-acute and long-term senior care services.
1 min read · 10 November 2014
Deal-makers and private equity employees are expected to receive the biggest hikes in bonuses this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates, according to Reuters news service.
2 min read · 10 November 2014
Kohlberg Kravis Roberts & Co, which led the acquisition of oil and gas producer Samson Resources Corp for $7.2 billion in 2011 and has already sold almost half its acreage to cope with lower energy prices, plans to sell its North Dakota Bakken oil deposit worth less than $500 million as part of an ongoing downsizing plan, people familiar with the matter told Reuters news service.
3 min read · 10 November 2014
