Ventas Inc (NYSE: VTR) has completed its all-cash acquisition of 29 Canadian independent senior living communities from Holiday Retirement Corp. The previously announced transaction was valued at $930 million. The properties, which are located in Ontario, Alberta and five other provinces, will be managed by Atria Senior Living Inc. Based in Lake Oswego, Oregon, Holiday Retirement is the owner and operator of retirement living communities in North America. The company has been a portfolio investment of U.S. private equity firm Fortress Investment Group since its acquisition for US$6.9 billion in February 2007.
8 min read · 20 August 2014
OMERS Private Equity, an investment arm of the Ontario Municipal Employees Retirement System (OMERS), has completed a recapitalization of Document Technologies Holdings LLC (DTI). The value of the transaction was not disclosed. The deal, which was done in partnership with the company's management team, provided an exit to the previous owner, U.S. private equity firm Harvest Partners. DTI, based in Atlanta, is a provider of legal process outsourcing services in the United States, with 29 offices nationwide and on-site client services in nearly 70 markets. The company was bought by Harvest Partners in a recapitalization deal in December 2011.
3 min read · 20 August 2014
Aqua Terra Water Management LP, a Canadian portfolio investment of U.S. private equity firm Bregal Partners, has bought North Dakota-based saltwater disposal facilities operated by Borejaks Energy Services LLC. The financial terms of the deals were not disclosed. In addition, Aqua Terra announced that its Grande Prairie, Alberta-based subsidiary Four Winds Energy Services Ltd has opened two new facilities serving the Viking oil play in southeastern Alberta. Last month, Four Winds acquired Integrity Custom Processing Inc and assets belonging to Kasten Energy Inc.
3 min read · 19 August 2014
Apax Partners LLP is exploring a sale of U.S. healthcare information technology company TriZetto Corp, hoping to fetch as much as $3 billion including debt, according to people familiar with the matter.
2 min read · 19 August 2014
Canadian retailer Alimentation Couche-Tard Inc and China's Tencent Holdings Ltd are among suitors short-listed to buy a US$16 billion minority stake in China's Sinopec Sales Co Ltd, the world's largest fuel retail network, sources told Reuters. China Life Insurance Co Ltd, ENN Energy Holdings Ltd, Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round. State-run Sinopec plans to sell up to 30 percent of Sinopec Sales this year as Beijing restructures government-owned assets.
3 min read · 19 August 2014
Lignol Energy Corp (TSXV: LEC), a Burnaby, British Columbia-based provider of biofuels, biochemicals and renewable materials, recently reported that it is in discussions to sell or merge each of the company's respective holdings, or sell or merge the company as a whole. In the past few months, Lignol has received bridge financing of $500,000 from Difference Capital Financial in anticipation of a pending financing, together with additional contributions to help the company operate. Lignol has recently received notices of default in respect of interest payments on outstanding secured debt with Difference Capital, totaling around $13.1 million.
7 min read · 18 August 2014
Sensors and electrical controls maker Sensata Technologies Holding NV said it would buy the Schrader group of companies for an enterprise value of $1 billion to benefit from a growing market for tire pressure monitoring sensors (TPMS).
1 min read · 18 August 2014
The Caisse de dépôt et placement du Québec has appointed Christian Dubé to the position of executive vice-president, Québec. Dubé, who prior to joing the Caisse de dépôt served in Québec's national assembly with the Coalition Avenir Québec, is also a former senior executive at Domtar Corp and Cascades Inc. He will be responsible for the Caisse de dépôt's investment strategy to foster the local and international growth and development of Québec businesses.
4 min read · 15 August 2014
Alberta Investment Management Corp (AIMCo) has acquired the mortgage portfolio of the Ontario Municipal Employees Retirement System (OMERS). The portfolio, which consists of 50 geographically dispersed Canadian mortgages, is valued at $520.3 million. The Edmonton, Alberta-based AIMCo, which manages more than $80 billion in assets, said the acquisition fits well with its existing holdings secured by institutional quality, income producing properties.
2 min read · 15 August 2014
Specialty lending platform Callidus Capital Corp (TSX: CBL), which earlier this month filed a prospectus with regulatory authorities for a $600 million offering of shares, said that new funding may also come from existing investor Canadian private equity firm Catalyst Capital Group. In its second quarter 2014 fiscal report, Callidus said that Catalyst has approved making facilities available and the Callidus board of directors has also approved them in principle. The Toronto-based firm said it is pursuing strategic growth initiatives and has added capacity to its underwriting and portfolio management, finance and collateral monitoring groups.
6 min read · 15 August 2014
