Canadian healthcare private equity firm Persistence Capital Partners (PCP) has made an investment in LMC Diabetes & Endocrinology, a Canadian endocrinology practice. The financial terms of the deal were not released. Operating with a network of nine clinics in Alberta, Ontario and Québec, LMC provides community-based care to diabetics and endocrinology patients with a focus on education, research, service excellence and meeting medical needs. The company's partnership with PCP is intended to support growth of its model across Canada. The investment follows PCP's acquisition last month of the occupational health clinical services business of Morneau Shepell Inc.
3 min read · 10 November 2014
Tier 1 Energy Solutions Inc, which is backed by U.S. energy private equity firm Intervale Capital, has purchased Avenger Oil Tools and its subsidiaries. The financial terms of the acquisition were not disclosed. Based in Calgary, Avenger Oil Tools provides downhole completion tools, drilling tools and related services in the Western Canadian Sedimentary Basin. Update: Tier 1, a provider of a range of wireline and completion tool running services, is based in Edmonton. Earlier in 2014, Intervale created the company in partnership with management.
3 min read · 10 November 2014
Sponsors often find foreign governments, including the sovereign wealth funds they oversee, an easygoing source of capital.
4 min read · 10 November 2014
Sharing tips for attracting limited partners to secondary funds, Deutsche Bank’s Carlo Pirzio-Biroli recommends keeping “demonstrable discipline” in investment strategy regardless of fund size and short-term economic indicators.
2 min read · 10 November 2014
Accelerated Rehabilitation Centers, a portfolio company of OMERS Private Equity, has agreed to be acquired by Athletico Physical Therapy, which is backed by U.S. private equity firm Harvest Partners. The combination of the two therapy services platforms will create one of the largest providers operating in the U.S. Midwest, the companies said. OMERS acquired Accelerated in July 2011.
2 min read · 07 November 2014
Tourmaline Oil Corp (TSX: TOU) has agreed to sell a percentage of its Peace River High oil play to Canadian Non-Operated Resources LP (CNOR), which is backed by U.S. private equity firm Riverstone Holdings and other investors. The deal, announced by Tourmaline in its Q3 2014 financial statement, will see CNOR become a joint venture partner through its acquisition of a 25 percent interest in the Western Canada-based project for $500 million. The deal is expected to close in December. A Calgary oil and gas company, the newly founded CNOR secured an $675 million equity investment in August. The company subsequently invested in Bellatrix Exploration Ltd.
5 min read · 07 November 2014
Cott Corp (NYSE: COT) (TSX: BCB) has agreed to acquire DSS Group Inc, the parent company to DS Services of America Inc, a water and coffee direct-to-consumer services provider in the United States. The acquisition, which is expected to close in January 2015, is priced at around US$1.25 billion. Among the sellers in the deal is U.S. private equity firm Crestview Partners, which invested in DS Services in 2013. Based in Toronto and Tampa, Florida, Cott is a producer of beverages. It said the acquisition will help accelerate the company's diversification outside of carbonated soft drinks and shelf stable juices.
10 min read · 06 November 2014
BluePay, a portfolio company of U.S. private equity firm TA Associates, has bought Caledon, a Canadian payment processing and technology business. The financial details of the transaction were not published. BluePay, a provider of technology-enabled credit card payment processing, said the acquisition will give it the opportunity to increase its payment acceptance capabilities for North American merchants, and enhance its technology. The Naperville, Illinois-based company was acquired by TA Associates in August 2013.
3 min read · 06 November 2014
Veresen Inc (TSX: VSN) has wrapped up its previously announced acquisition of the 50 percent convertible preferred interest owned by Global Infrastructure Partners in the Ruby pipeline system for US$1.425 billion. Ruby is a natural gas transmission system delivering U.S. Rockies natural gas production to markets in the western United States. The U.S.-based Global Infrastructure bought its stake in the system in 2009. Headquartered in Calgary, Veresen owns and operates energy infrastructure assets across North America.
5 min read · 06 November 2014
CDI Computer Dealers Inc has completed its first acquisition since January, when it received a strategic investment from U.S. private equity firm HIG Growth Partners. The Markham, Ontario-based company, a refurbisher and remarketer of information technology (IT) hardware, has bought LifeSpan Recycling Co Inc for an undisclosed amount. Based in Newton, Massachusetts, LifeSpan is a provider of hardware recycling and disposal, data destruction, hardware resale, and IT asset disposition services. CDI said the deal will permit a broadening of its product and service offering and add several new facilities to its operations.
4 min read · 06 November 2014
