Wondering why you’re paying so much to have routine legal documents prepared? The question lies at the heart of the business model of a start-up company called InCloudCounsel, which has caught the eyes of early, savings-minded clients such as The Carlyle Group, NEA and Oak Hill Capital Partners.
3 min read · 05 August 2014
GTCR LLC is looking to sell home security company Protection 1 for more than $1.5 billion and has tapped Morgan Stanley to assist with the effort, according to people familiar with the matter.
1 min read · 04 August 2014
ResCare, which provides home care services to the elderly and disabled, is in the early stages of exploring a sale that could fetch more than $1 billion, according to people familiar with the matter.
1 min read · 04 August 2014
Canadian private equity firm Onex Corp has closed its sale of The Warranty Group to U.S. private equity firm TPG Capital for around US$1.5 billion. Based in Chicago, Warranty Group provides extended warranty contracts for an array of consumer goods. It also provides credit insurance and other specialty insurance products. Update: Onex acquired the company in 2006 and has since received proceeds of around US$1.53 billion. This gave Onex a multiple of invested capital of approximately 3.1 times and a 19 percent rate of return.
2 min read · 04 August 2014
Entertainment One Ltd (LSE: ETO) has closed its previously announced acquisition of Paperny Entertainment Inc, a producer of factual television programming based in Vancouver. The deal, whose financial terms were not disclosed, has been estimated to value $29.2 million. With headquarters in Toronto, Entertainment One acquires, produces and distributes film and televison content. It has been backed by U.K. private equity firm Marwyn Investment Management since 2007.
2 min read · 01 August 2014
McInnis Cement, a company formed following the Beaudier Group’s acquisition of Cimbec in 2011, has completed financing for the construction of the Port-Daniel-Gascons cement plant in Québec's Gaspé region. The financing package, totaling $1.1 billion, features $500 million from private and public investors, including a $100 million equity investment by the Caisse de dépôt et placement du Québec alongside Beaudier. The new project will use up to 40 percent less fuel per ton of cement than conventional cement plants, reducing emissions of greenhouse gas, the company said. McInnis Cement is based in Brossard, Québec.
4 min read · 01 August 2014
Osum Oil Sands Corp has closed its previously announced acquisition of the Orion Oil Sands Project from Shell Canada Ltd, a division of Royal Dutch Shell Plc, for $325 million. The project, located in Alberta’s Cold Lake oil sands region, will provide Osum with significant current production and cash flow, the company said. Founded in 2006, the Calgary-based Osum is backed by Canadian private equity firm KERN Partners, The Blackstone Group, Warburg Pincus and other investors. KERN recently launched its fourth energy-focused partnership, KERN Energy Partners IV Fund, which is targeted to raise $750 million.
5 min read · 01 August 2014
Ontario Teachers' Pension Plan has appointed Jeff Davis as its general counsel, corporate secretary and senior vice president, corporate affairs. In this role, he will be responsible for the legal team, as well as compliance, corporate communications, government and public affairs, and plan policy. Davis joined Teachers in 2004, and has served as vice president and associated general counsel since 2010. He is a former corporate associate at Torys LLP. The Toronto-based Teachers manages more than $140 billion in assets.
2 min read · 01 August 2014
Buyout shop Hellman & Friedman has started preparations for a potential stock market listing of Scout24, just months after buying the German classified advertising business from Deutsche Telekom, three sources familiar with the matter said.
2 min read · 31 July 2014
Calgary's Seven Generations Energy has hired the Royal Bank of Canada and Peters & Co to help arrange an initial public offering (IPO), Bloomberg reported. Sources said that the energy company is seeking to raise more than $500 million in an IPO sometime before the end of 2014. Should this happen, the event will provide exit opportunities to the company's private equity backers, which include ARC Financial Corp, Canada Pension Plan Investment Board, KERN Partners, Natural Gas Partners and ZBI Ventures.
2 min read · 31 July 2014
