U.S. private equity firm Swander Pace Capital and Teachers’ Private Capital, the investment arm of Ontario Teachers’ Pension Plan, have closed their sale of portfolio company Insight Pharmaceuticals LLC to Prestige Brands Holdings Inc (NYSE: PBH) for US$750 million. Swander Pace had been a primary investor in Insight since 2009, while Teachers made its initial investment in 2011. The Trevose, Pennsylvania-based company specializes in over-the-counter health and personal care products. Canadian law firm Torys LLP represented Teachers in the sale.
4 min read · 08 September 2014
Alphaeon Corp, a lifestyle healthcare business launched last year by U.S. growth equity firm Strathspey Crown, has agreed to buy Clarion Medical Technologies Inc, a Cambridge, Ontario-based provider of medical and aesthetic equipment and consumables. The deal, the financial terms of which were not released, is expected to close this month. Alphaeon, which focuses on bringing to market technologies and services that promote patient wellness, beauty and performance, said the acquisition expands its geographic reach and creates a major North American lifestyle healthcare portfolio.
3 min read · 08 September 2014
Sinclair Cockburn Ltd, an Ontario subsidiary of Hub International Ltd, has purchased a commercial line book of business from independent broker Lisa Cook. The financial terms of the transaction were not published. Lisa Cook will join Hub's Markham, Ontario, office and support its mid-market commercial business, the company said. Hub, a Chicago-based insurance brokerage with significant operations in Canada, was acquired in 2013 by U.S. private equity firm Hellman & Friedman from its previous private equity owners for US$4.4 billion.
2 min read · 08 September 2014
Thunderbird Films Inc has acquired Soda Pictures Ltd, a London, U.K.-based distributor of art house, independent and world cinema. The financial terms of the transaction were not disclosed. Soda will continue to operate under its brand, with the addition of “A Thunderbird Company” as part of the overall corporate identity. The Vancouver-based Thunderbird, which creates, produces and distributes content for the Canadian and U.S. media markets, has been backed by Canadian specialty finance firm Difference Capital Financial since 2012.
3 min read · 08 September 2014
Western Canadian retailer FIELDS has obtained a $3.5 million investment from Canadian private equity firm First West Capital. The Delta, British Columbia-based company, which operates a 62-location chain, plans to use its partnership with First West to identify new markets for expansion and to develop an online presence. Founded in 1948, FIELDS was owned previously by Hudson's Bay Co. The Vancouver-based First West, an investment arm of First West Credit Union, focuses on providing customized subordinated loans and mezzanine financing to small businesses.
4 min read · 08 September 2014
Montréal-based WSP Global Inc said it would buy Balfour Beatty Plc's U.S. professional services division, Parsons Brinckerhoff, for an enterprise value of about US$1.24 billion, to increase its footprint in the U.S. transportation segment, Reuters reported. Long-time WSP investors the Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board (CPPIB) will contribute to a US$400 million private placement that is intended to help finance the deal.
2 min read · 08 September 2014
Dave & Buster’s Inc is preparing to file for an initial public offering as soon as mid-September, according to people familiar with the matter, adding to a spate of restaurant chains that have gone public this year to tap strong investor demand.
1 min read · 05 September 2014
Quadrangle Group, a private equity backer of Mobilicity, said it had sued the Canadian government for C$1.2 billion ($1.1 billion), accusing it of reneging on pledges to help the small wireless provider compete against the country’s biggest phone companies.
2 min read · 05 September 2014
Quadrangle Group, a private equity backer of small Canadian wireless provider Mobilicity, said Friday it filed a statement of claim against Industry Canada seeking $1.2 billion (US$1.1 billion) in damages, claiming negligence and breach of contract, Reuters reported.
2 min read · 05 September 2014
Stuart Olson, a Calgary-based construction & industrial contracting company, announced this week that it has completed the sale of Broda Construction to TriWest Capital Partners for $39 million. Broda, based in Saskatchewan, offers a variety of heavy construction services including earth moving, excavating and mining.
2 min read · 05 September 2014
