Brad Meikle

Catalyst-backed Therapure Biopharma files to go public

Therapure Biopharma Inc, a portfolio company of Canadian private equity firm Catalyst Capital Group, has filed a preliminary prospectus with Canadian securities regulatory authorities for an initial public offering. The offering has not yet been priced, however, Bloomberg reported the company is seeking to raise at least $100 million. GMP Securities, CIBC World Markets and National Bank Financial are underwriting the sale. Based in Mississauga, Ontario, Therapure is a biopharmaceutical company focused on the development, manufacture, purification, and packaging of rare and complex biotherapeutics.

Brookfield bid for Australian rail, port assets hits regulatory red light: Reuters

An Australian regulator has knocked back an attempt by Canadian infrastructure giant Brookfield Asset Management to overcome competition concerns holding up its A$9 billion (US$6.53 billion) bid for port and rail firm Asciano Ltd, Reuters reported. The decision is a blow to a takeover proposal backed by Asciano and boosts the prospects of a rival bid from smaller Australian logistics business Qube Holdings Ltd.

Regimen Partners adds to senior team, opens Toronto office

Regimen Partners, a Canadian private equity firm, has introduced two new members to its management team. Michael Walsh, formerly the CFO of Creation Technologies Inc, has joined the firm as executive vice-president, corporate development. Additionally, Bill Murray, a capital markets advisor and investment banker who previously served at National Bank Financial, joined as director, private equity. Vancouver-based Regimen also announced the opening of a new office in Toronto. The firm's recent investments include CRS CraneSystems Inc. Regimen became the company's majority shareholder in late 2014.

Novacap invests in growth of pipeline inspection specialist Onstream

Canadian private equity firm Novacap has made an investment in Onstream Pipeline Inspection Services Inc, a Canadian provider of pipeline in-line inspection solutions for the oil and gas industry. The deal's financial terms were not released. Onstream, which is based in Calgary, plans to use the partnership with Novacap to enhance its operations, engage in strategic growth opportunities, and accelerate funding of research and development programs. The investment was made through Novacap TMT IV LP, which raised $375 million in 2014. As reported by PE Hub Canada, Novacap earned a substantial return from this year's initial public offering of portfolio company Stingray Digital Group Inc.

Distinct Infrastructure raises $20 mln in funding from Crown Capital

Crown Capital Partners, Canadian specialty finance firm, has provided $20 million in subordinated debt funding to Distinct Infrastructure Group Inc (TSX-V: DUG). Based in Toronto, Distinct is a utility and telecom infrastructure contractor with capabilities in design, engineering, construction, service and maintenance, and materials management. The company said the deal supports its plans to expand capacity in Ontario and Western Canada to meet demand and continue growing. In September, Crown Capital raised an initial $100 million for its fourth fund, Crown Capital Fund IV LP. It subsequently invested in Petrowest Corp.

Petco's buyout financing joins $14 bln leveraged loan pipeline: Reuters

A debt financing of about US$3 billion backing CVC Capital Partners and Canada Pension Plan Investment Board's US$4.6 billion buy of Petco is joining a US$14 billion pipeline of U.S. leveraged buyout loans that are waiting to be sold after another deal was pulled last week, Reuters reported.

Shaw's ViaWest to acquire PE-backed INetU for $162.5 mln

ViaWest Inc, a subsidiary of Shaw Communications Inc, this month agreed to buy INetU Inc, a managed hosting and cloud services provider headquartered in Allentown, Pennsylvania. The purchase price of US$162.5 million will be paid to U.S. private equity firm BV Investment Partners and other shareholders. INetU was recapitalized by BV Investment Partners in late 2012. ViaWest said the deal advances its offerings and strengthens its position as a hybrid information technology solutions provider. Shaw is a Canadian communications and media company.

Rival to Brookfield's Australia port deal invokes national interest: Reuters

The Australian government may order the country's freight industry to restructure if port and rail giant Asciano Ltd is sold to Canada's Brookfield Asset Management Inc, a rival bidder told reporters, including Reuters. Australian logistics business Qube Holdings Ltd is trying to give Asciano's shareholders a reason to warm to its slightly higher indicative offer, which came after the target company had recommended Brookfield's US$6.5 billion buyout. Qube is partnering in its bid with Canada Pension Plan Investment Board and Global Infrastructure Partners.

Riverstone seeks to hike stake in Canadian International Oil

Canadian International Oil Corp (CIOC) announced that U.S. energy private equity firm Riverstone Holdings has offered to acquire CIOC shares and warrants it does not currently own. Riverstone, which invested an initial $200 million in CIOC in March 2014, has proposed to buy the company's remaining common shares and warrants (with an exercise price of $1.20) for $1.675 per common share and $0.475 per warrant. The offer is scheduled to remain open until December 29th. Calgary-based CIOC holds assets in the Deep Basin of West Central Alberta.

CVC, CPPIB near $4.7 bln deal to acquire Petco: Reuters

U.S. private equity firm CVC Capital Partners and Canada Pension Plan Investment Board are nearing a deal to acquire Petco Holdings Inc, valuing it at around US$4.7 billion, including debt, sources told Reuters. The consortium outbid other buyout firms in an auction for Petco and is now finalizing terms with the U.S. pet retailer's owners, TPG Capital and Leonard Green & Partners.