Canadian private equity firm Lynx Equity has acquired Winfield Wood & Lath Ltd. The acquisition price was not disclosed. Generational Equity advised the company on the transaction. Headquartered in Kelowna, British Columbia, Winfield Wood & Lath is a remanufacturing sawmill wholesaler. For over two decades, it has manufactured products that include lath, dunnage, kiln sticks and blocks, and yard dunnage.
2 min read · 21 May 2014
The Caisse de dépôt et placement du Québec is ramping up its emerging markets investment focus across asset classes including private equity after taking a hiatus for several years, according to Rashad Kaldany, executive vice-president in emerging markets. The Caisse has “re-oriented” its emerging markets strategy to focus on Latin America and Southeast Asia, Kaldany told peHUB. The institution will take “larger stakes” in fewer general partners for “more strategic engagement,” he said.
2 min read · 20 May 2014
Canada's Venture Capital & Private Equity Association and Thomson Reuters have announced the results of Canadian buyout and related private equity market activity in the first quarter of 2014. The report found 77 PE deals with disclosed values totaling $4.6 billion in this period, or effectively double the values reported at the same time in 2013. Higher dollar flows owed partly to completed acquisitions of Mississauga, Ontario-based Patheon and Québec City-based Atrium Innovations. The fundraising activity of Canadian PE firms, totaling $3.5 billion in the first three months, was also more than triple the amount committed to funds in Q1 2013. A full report of Canadian buyout-PE market trends in Q1 2014 can be found here.
4 min read · 20 May 2014
Canada's Valeant Pharmaceuticals International said it will not make an all-cash bid for drugmaker Allergan Inc as many had expected last week when the company said it would improve its cash and stock offer for the Botox maker, Reuters reported. Michael Pearson, CEO of the Canadian drugmaker, said Allergan shareholders favored Valeant's bid and preferred Valeant equity over more cash. Valeant on April 22 offered US$48.30 in cash and 0.83 of one Valeant share for each Allergan share in a US$47 billion bid with the support of activist investor William Ackman, head of Pershing Square Capital Management.
2 min read · 20 May 2014
Canadian private equity firm Mosaic Capital Corp has agreed to acquire a 70% interest in an unnamed provider of site maintenance services and civil construction to Alberta's energy sector. The firm partnered with members of the company's management team, who will hold the remaining 30% interest. Mosaic's cost of acquisition includes $12.6 million in cash, the assumption of $4 million of debt, and up to $3.5 million in contingent consideration over the next three years, subject to the company meeting certain financial targets. The deal is expected to close in June.
5 min read · 20 May 2014
AG Recovery Ltd has acquired ownership of approximately 23.14% of the outstanding units of Arctic Glacier Income Fund as part of the structuring of portfolio investments held by U.S. private investment firm Solus Alternative Asset Management LP. Based in Winnipeg, Manitoba, Arctic Glacier is a manufacturer and distributor of premium quality packaged ice products in Canada and the United States. It is a portfolio company of U.S. private equity firm H.I.G. Capital, which bought Arctic Glacier for US$435 million in a recapitalization transaction in 2012.
2 min read · 20 May 2014
Victory Park Capital, the Chicago-based lending and buyout specialist that hired retired U.S. Sen. Joseph Lieberman in January, is planning to raise its third buyout fund in a busy year for the mid-market firm, according to sources.
3 min read · 20 May 2014
Canadian private markets investor Northleaf Capital Partners has wrapped up a new fund earmarked for opportunities in the global private equity secondary market.
4 min read · 19 May 2014
Avista Capital Partners, which has experienced several executive departures this year, is looking to exit InvestorPlace.
3 min read · 19 May 2014
Global private equity firm CVC Capital Partners Ltd said on May 19 it has completed a $3.5 billion fund for investments in Asia, CVC Capital Partners Asia Pacific IV LP.
1 min read · 19 May 2014
