Aqua Terra Water Management LP, a merchant operator of salt water disposal facilities with significant Canadian assets, has made new acquisitions in the Midland Basin of west Texas. It bought two saltwater disposal facilities operated by Texas SWD Co Inc and a permit for a facility from Coronado Minerals LLC for an undisclosed amount. Aqua Terra was formed by U.S. private equity firm Bregal Partners last November. Its first investment was Grande Prairie, Alberta's Four Winds Energy Services Ltd.
3 min read · 24 October 2014
Urbanimmersive Technologies Inc (TSXV: UI) has secured additional funds from the Caisse de dépôt et placement du Québec. The Caisse provided a secured convertible debenture totaling $250,000, which if exercised along with other conversion rights would give it around 19.75 percent of the company's outstanding common shares. Founded in 2007, Urbanimmersive is focused on developing Web and 3D immersive technologies for the real estate sector. It is based in Laval, Québec.
2 min read · 24 October 2014
TierPoint LLC, a provider of cloud, colocation, and managed services, has agreed to acquire Xand, a portfolio company of U.S. private equity firm ABRY Partners, for an undisclosed amount. The deal, which will give the St. Louis, Missouri-based TierPoint additional data centre capacity, is being supported by the company's existing investors as well as a new investor, Teachers’ Private Capital, the private equity arm of Ontario Teachers’ Pension Plan. The acquisition is expected to close in November. Based in Hawthorne, New York, Xand was acquired by ABRY in October 2011.
3 min read · 24 October 2014
The Arizona State Retirement System plans to invest $25 million alongside an affiliate of Apollo Global Management in its acquisition of “certain energy assets” from Encana Corp, according to Oct. 20 investment committee meeting materials.
2 min read · 24 October 2014
Canadian lithium mining company RB Energy Inc (TSX: RBI) recently announced that U.S. private equity firm Hale Capital Partners has agreed to provide it with up to US$13 million in debtor-in-possession (DIP) financing. The proceeds are intended to help the company meet current obligations in its restructuring process. The Vancouver-based RB Energy, which owns the Québec Lithium Project near Val d'Or, Québec, as well as mining assets in Chile, filed for creditor protection earlier this month. This week it was announced that the Toronto Stock Exchange will de-list company shares on November 24.
3 min read · 23 October 2014
A senior U.S. Securities and Exchange Commission official on Thursday urged private equity firms to follow Blackstone Group LP’s decision to stop a controversial fee practice in its portfolio companies, according to Reuters news service.
1 min read · 23 October 2014
Bankers are preparing debt financing packages of around US$400.7 million to back private equity firm Warburg Pincus' potential sale of U.K. survival equipment company Survitec Group, sources told Reuters. Potential buyers that have made it through to a second round of bidding in an auction process include Blackstone and partner Safariland. Other buyout firms close to the process include Ontario Teachers' Pension Plan and Onex Corp, sources said.
1 min read · 23 October 2014
Kensington Private Equity Fund, an affiliate of Canadian investment firm Kensington Capital Partners, is making a distribution to fund unitholders of $2.26 per unit, for a total distribution of around $7.4 million. Kensington said the distribution represents a new high point for the fund, the net asset value of which has increased by more than 23 percent in the past 12 months. Kensington Private Equity Fund has invested in a range of private equity and venture capital funds. It has also made direct investments in companies.
3 min read · 23 October 2014
Vivonet Inc, a portfolio company of U.S. private equity firm Marlin Equity, has appointed Alaa Pasha as its new president and CEO, replacing Ryan Volberg, who will remain involved as a shareholder and advisor. Prior to joining the company, Pasha was a senior executive at Red Book Connect, and before then he was president and CEO of MacromatiX. Based in Burnaby, British Columbia, Vivonet is a point of sale solutions provider to the restaurant industry. It was acquired by Marlin in late 2012.
3 min read · 23 October 2014
Private equity firm KKR & Co LP reported a lower-than-expected 27 percent year-on-year drop in third-quarter profit on Thursday, as its holdings appreciated more than many analysts foresaw and it generated more cash by exiting its investments, according to Reuters news service.
2 min read · 23 October 2014
