Shares of fiber network company Zayo Group Holdings Inc jumped as much as 20 percent in their market debut on Friday, Oct. 17 as investors bet on the growing demand from businesses for ultra-fast Internet, according to Reuters news service.
2 min read · 17 October 2014
Wilton Re Ltd has agreed to purchase the majority of Dutch insurer Aegon N.V.'s operations in Canada for $600 million. The assets to be acquired consist of Toronto-based life insurance provider Transamerica Life Canada and a number of affiliated businesses active in the Canadian market. The deal, which is expected to be closed in the first quarter of 2015, is being supported by equity funding from Canada Pension Plan Investment Board (CPPIB), which acquired the Bermuda-based Wilton Re for US$1.8 billion earlier in 2014. The company said the Transamerica Canada acquisition aligns with its strategy to provide risk and capital solutions to clients throughout North America.
3 min read · 16 October 2014
Canada Goose Inc, a maker of luxury winter down jackets, expects double-digit sales growth going forward and is forecasting revenue this year to be well over $200 million, Reuters reported. Last year, the Toronto-based manufacturer sold a majority stake to Boston-based private equity firm Bain Capital for an undisclosed amount to help meet its growth ambitions. Canada Goose's CEO said the deal has helped facilitate expansion.
2 min read · 16 October 2014
Vue Entertainment International has agreed to acquire The Space Entertainment S.p.A., a cinema chain in Italy. While the deal's value was not disclosed by the company, Reuters reported it as 105 million euros (US$134 million). Vue said the acquisition is its fourth in the past three years and is supported by a follow-on investment by the company's backers, OMERS Private Equity and Alberta Investment Management Corp (AIMCo). OMERS and AIMCo jointly acquired the business from British private equity firm Doughty Hanson in 2013 for $1.48 billion. Based in London, United Kingdom, Vue is an operator and developer of modern state-of-the-art multiplex cinemas.
2 min read · 16 October 2014
Boston-based Battery Ventures said it hired software executive Russell Fleischer as a partner for its private-equity business amid a buyout environment that offers rich returns but hard-to-find deals.
1 min read · 16 October 2014
Financial specialist Corsair Capital said on Thursday that Edward “Ned” Kelly, a former Citigroup Inc C.N executive, and Ranji Nagaswami, a former New York City official, had joined the firm as senior advisors, according to Reuters news service.
1 min read · 16 October 2014
The Blackstone Group, the world’s largest alternative asset manager, on Thursday, Oct. 23 reported lower-than-expected third-quarter earnings, but said it was well positioned to profit from market jitters and put more of its $42.3 billion in undrawn investor capital to work, according to Reuters news service.
2 min read · 16 October 2014
Vista Equity Partners, the software-focused private equity firm, closed its fifth flagship fund Wednesday, Oct. 22 at $5.775 billion, according to sister website peHUB.
1 min read · 16 October 2014
A new report published by Chartered Professional Accountants of Canada and Canada's Venture Capital & Private Equity Association (CVCA) looks at how to create shareholder value in a low-growth economy. Authored by Howard Johnson, the study is based on interviews and information obtained about the strategies of Canadian private equity firm Birch Hill Equity Partners, Constellation Software Inc, a portfolio company of OMERS Private Equity, GoodLife Fitness Centres Inc, a portfolio company of Penfund, Manulife Capital and other investors, and Cineplex Inc.
3 min read · 15 October 2014
U.S.-based Overland Storage Inc (Nasdaq: OVRL), which in May agreed to combine with Canada's Sphere 3D Corp (TSX-V, Nasdaq: ANY), has entered into a financing arrangement with an affiliate of its majority investor: U.S. private equity firm Cyrus Capital Partners. Proceeds will give Overland a total of US$7.5 million to complete cost-cutting initiatives and to repay a portion of its debt to Sphere 3D. The latter has agreed to issue shares to Cyrus following completion of the merger transaction. Based in Mississauga, Ontario, Sphere 3D is a virtualization technology provider.
5 min read · 15 October 2014
