Aqua Terra Water Management LP, a portfolio investment of U.S. private equity firm Bregal Partners, has acquired Integrity Custom Processing Inc, a water management company based in Fort St. John, British Columbia, and assets from Calgary's Kasten Energy Inc, which owns a salt water disposal facility in Alberta. The financial terms of the deals were not published. In January, Aqua Terra also bought Ceiba Energy Services Inc and Phyllis Disposal Ltd. All of the acquisitions were made by Four Winds Energy Services Ltd, a Grande Prairie, Alberta-based operator of water disposal facilities and a subsidiary of Aqua Terra since 2013.
3 min read · 29 July 2014
The previously announced US$4.9 billion purchase of Rational Group Ltd by Amaya Gaming Group Inc (TSX: AYA) has been approved by regulatory authorities. On July 30, Amaya's investors will consider the deal, which will see the Montréal-based gaming company take possession of Rational Group's assets, including online poker platforms PokerStars and Full Tilt Poker. GSO Capital Partners, an affiliate of U.S. private equity firm Blackstone Group, will support the acquisition through US$655 million in share subscriptions.
4 min read · 29 July 2014
The Carlyle Group agreed to acquire Acosta Sales and Marketing, in a deal that values the consumer goods marketing agency at about $4.8 billion, according to a source familiar with the transaction. The buyout ranks as one of the largest announced deals of late by a U.S. based sponsor.
2 min read · 29 July 2014
Clairvest Group has closed its fifth partnership, Clairvest Equity Partners V LP (CEP V), at its C$600 million ($556 million) hard cap.
2 min read · 28 July 2014
Sankaty Advisors has agreed to acquire a $1.3 billion portfolio of mezzanine loans, securities and special situations assets from JPMorgan’s Global Special Opportunities Group, according to a statement released by the Bain Capital credit affiliate. The transaction is expected to close by the end of the year.
2 min read · 28 July 2014
A consortium of shareholders in Tuckamore Capital Management (TSX:TX) have proposed financing at different terms than that being provided by U.S. investment firm Orange Capital. Tuckamore recently announced a $12.5 million transaction with Orange following the cancellation of its take-private acquisition with Birch Hill Equity Partners. The consortium, which includes Access Holdings Management Co and First Series of Halcyon Trading Fund LLC, said it could provide the same amount with less dilution. Based in Toronto, Tuckamore is a private equity firm.
5 min read · 28 July 2014
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has made an undisclosed investment in the 5.5 megawatt Sakwi Creek Hydro Project, a run-of-river hydroelectric project located just northwest of Agassiz, British Columbia. CC&L Infrastructure and Canadian renewable energy developer WindRiver Power Corp also partnered in a $17 million debt financing deal to fund the project. In the final stages of construction, the Sakwi Creek Hydro Project is expected to be operational later this year. CC&L Infrastructure is an affiliate of Toronto-based asset manager Connor, Clark & Lunn Financial Group.
2 min read · 28 July 2014
Independence Contract Drilling Inc, a portfolio company of Canadian resource-focused private equity firm Sprott Resource Corp, has launched its initial public offering of 10 million shares of common stock. The shares will trade on the New York Stock Exchange under the ticker symbol "ICD." According to a report from Renaissance Capital LLC, the Houston, Texas-based company plans to raise US$150 million. A vertically integrated premium land drilling service provider, Independence Contract Drilling received its first investment from Sprott Resource in 2012. The investor currently holds a 31.7 percent interest in the company.
4 min read · 28 July 2014
McMorgan Infrastructure Fund I LP, an affiliate of U.S. institutional investors McMorgan & Co and GrandFund Investment Group, has joined the Global Strategic Investment Alliance (GSIA). The McMorgan fund committed a total of US$1.325 billion of capital to GSIA, a co-investment program managed by Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS). Focused on investing in large-scale, core infrastructure investment opportunities around the globe, GSIA last year signed on Japanese institutional investors. Its total capital committed now stands at more than US$12.5 billion.
3 min read · 28 July 2014
Aspenleaf Energy Ltd, a portfolio company of Canadian private equity firm ARC Financial Corp and Ontario Teachers' Pension Plan, has proposed to acquire and recapitalize Calgary's Arcan Resources Ltd (TSX-V: ARN). Under the plan, Arcan's investors will exchange each Arcan share for one common share and 0.1 of a common share purchase warrant in Miura Energy Ltd. Miura will own 12.5 percent of the interest held by Arcan in its oil and gas properties in Alberta's Swan Hills region. The refunding of Arcan's debt will include a payment to holders of Arcan's convertible debentures of $141.3 million, plus interest. Arcan's board of directors have recommended the deal to investors, who will vote on it on Aug. 20.
8 min read · 28 July 2014
