U.S. private equity firm Kohlberg & Co has completed its sale of 2 million common shares of Performance Sports Group Ltd (NYSE, TSX: PSG), a developer and manufacturer of sports equipment and apparel. Gross proceeds from the transaction totaled $37.55 million and left the investor with around 5.3 percent of the company's issued and outstanding common shares. Founded in Kitchener, Ontario, PSG, which was previously known as Bauer Performance Sports Ltd, was acquired by Kohlberg and Roustan Capital in a corporate carve-out deal in 2008. It went public in 2011.
2 min read · 27 October 2014
Canadian wireless provider Wind Mobile, which last month was acquired by Globalive Capital, has appointed Pietro Cordova as its new CEO. Cordova was previously the company's COO. Wind Mobile founder Anthony Lacavera will remain its chairman and a shareholder, and will continue to have an active role at the board level. Globalive bought Vimpelcom Ltd's majority stake in the company in mid-September for an estimated $300 million. Funding of the deal came in part from West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity and Novus Wireless Communications.
3 min read · 27 October 2014
Warburg Pincus LLC said on Monday, Oct. 27 that it had raised $4 billion for its first energy-focused private equity fund, exceeding its $3 billion target and making it the latest investment firm looking to tap into opportunities in North America’s shale gas boom, according to Reuters news service.
2 min read · 27 October 2014
Valeant Pharmaceuticals International Inc on Monday said in a letter to Allergan Inc's board of directors that it was prepared to raise its offer to at least US$200 per share but stopped short of doing so, Reuters reported. At US$200 per share, the offer would be worth more than US$59 billion. Canada's Valeant and hedge fund Pershing Square Capital Management launched a hostile offer for Allergan in April, but the U.S.-based Botox maker has staunchly refused it.
3 min read · 27 October 2014
Gauge Capital LLC has wrapped up a debut mid-market buyout fund at $250 million, a sum earmarked for investments in health care services, business services, consumer services and food services.
2 min read · 27 October 2014
New Look Eyewear Inc (TSX: BCI) recently completed its previously announced purchase of certain optical and other business assets of Optic Direct Inc, which operates under the banner Greiche & Scaff in Québec. The acquisition price was $17.75 million paid in cash plus assumed liabilities. A retailer of prescription eyewear, Greiche & Scaff was bought by Canadian mid-market private equity firm Perseis Partners in 2003. The Québec City-based New Look is a provider of eye care products and related services.
3 min read · 27 October 2014
Providence Equity Partners LLC is in discussions with TPG Capital LP to acquire a majority stake in RentPath Inc, a real estate listings company known for its Apartment Guide and Rent.com websites, people familiar with the matter told Reuters news service.
2 min read · 27 October 2014
Armored AutoGroup Inc is exploring an initial public offering that could value the maker of car care products at more than $1.5 billion, including debt, people familiar with the matter told Reuters news service.
1 min read · 27 October 2014
9 min read · 27 October 2014
Pembina Pipeline Corp (TSX: PPL, NYSE: PBA) has completed its previously announced buy of the Vantage pipeline system and Mistral Midstream Inc's interest in a Saskatchewan ethane processing plant. The assets were acquired from U.S. private equity firm Riverstone Holdings in a transaction valued at US$650 million. Pembina, a Calgary-based transportation and midstream service provider, said the deal will support its growth strategy by increasing its footprint into North Dakota's Bakken formation and connecting it to the Alberta petrochemical market. Mistral Midstream is a developer of gas processing opportunities for Calgary's Mistral Energy Inc, a portfolio company of Riverstone since 2010.
5 min read · 24 October 2014
