BG Capital Group has acquired a 50% interest in Solutions With Impact Inc, an event management, promotional marketing and public relations agency based in Toronto. The financial terms of the deal were not published. BG Capital Group said the deal reflects its increased emphasis on philanthropic efforts in tandem with its foray into the luxury hospitality market. Founded by Bobby Genovese, the private equity firm is based in Barbados with offices in the Bahamas, the United States, Toronto and Vancouver. Since its establishment in 1999, Solutions With Impact has helped raise more than $35 million for non-profit foundations.
3 min read · 14 May 2014
Sarona Asset Management has committed to 22 private equity funds around the world since the launch of its fund-of-funds program in 2010. The firm is focused on making returns-generating investments in small and mid-market companies and private equity funds in frontier and emerging markets. It is based in Kitchener, Ontario, and Amsterdam, the Netherlands. Sarona's backers include the U.S.-based Overseas Private Investment Corp, which committed US$87.5 million to its strategy in 2012.
3 min read · 13 May 2014
Canadian junior mining company Aurcana Corp (TSX.V - AUN) has received a $7 million investment from private equity firm Orion Mine Finance Group. The firm acquired 10.1 million shares of Aurcana at a price of $0.69 per share to facilitate a debt settlement. As a result of the deal, Orion holds approximately 22% of the issued and outstanding common shares of the company. Based in Vancouver, Aurcana is a primary silver producer with properties in Mexico and the United States. With offices in New York and other locations, Orion is focused on investing in the global mining industry.
2 min read · 13 May 2014
Yamana Gold Inc said on Tuesday that former Agnico Eagle Mines Ltd executive Daniel Racine would head its Canadian mining and development operations, Reuters</em reported. Last month, Osisko Mining Corp agreed to sell most of its assets to Yamana and Agnico Eagle for $3.9 billion to thwart a hostile offer from larger rival Goldcorp Inc. At the time of the deal announcement, the Montréal-based Osisko said it had entered into arrangements totaling $550 million with CPPIB Credit Investments and the Caisse de dépôt et placement du Québec for the sale of a gold stream on its Canadian Malartic mine and an increase in its credit facility.
2 min read · 13 May 2014
Independence Contract Drilling Inc, a portfolio company of Canadian private equity firm Sprott Resource Corp, has submitted a confidential registration to the U.S. Securities and Exchange Commission for a possible initial public offering of common shares. Based in Houston, Independence Contract Drilling is a vertically integrated premium land-drilling service provider. Sprott invested in the company in 2012 and currently owns a 31.7% interest. Sprott last month commenced a $67.7 million secondary offering for another portfolio company, Calgary-based Long Run Exploration Ltd (TSX: LRE).
3 min read · 13 May 2014
City Office REIT Inc (NYSE: CIO), a real estate company backed by Canadian private equity firm Second City Capital Partners, has completed its previously announced initial public offering, raising $82.3 million. Jamie Farrar, Second City managing director, told peHUB Canada that the firm retains around 39% post-IPO ownership in the company, which is focused on U.S.-based high-quality office properties. Farrar, who is also City Office REIT's CEO, also announced a board of directors' declaration of a second quarter dividend of $0.183, which accounts for part of the time the company has been public.
3 min read · 13 May 2014
Finnish commercial property owner Citycon said on Tuesday it plans to raise about US$550 million of new capital from owners as it looks to step up shopping centre acquisitions, Reuters reported. About half of the issue is planned to be offered to CPP Investment Board European Holdings, a subsidiary of Canada Pension Plan Investment Board, while the other half is directed to existing investors. Funding proceeds will be used in part to make a debt repayment and enable the company to pursue acquisitions and projects in Nordic and Baltic regions.
1 min read · 13 May 2014
Boot Barn’s private equity owners are preparing an initial public offering later this year for the retailer and are in the process of interviewing banks, people familiar with the matter said.
1 min read · 13 May 2014
Brand development and licensing company Authentic Brands Group LLC is buying the rest of Marilyn Monroe’s estate that it did not already own, writes peHUB's Luisa Beltran. Financial terms of the deal, which is expected to close in June, were not announced. Based in New York, and with offices in Toronto and Los Angeles, Authentic Brands is owned by U.S. private equity firm Leonard Green & Partners. Leonard Green and Canadian private equity firm Knight’s Bridge Capital Partners partnered in a US$250 million investment in the company in 2010.
1 min read · 12 May 2014
Hitachi Capital Canada Corp, a subsidiary of Hitachi Capital America Corp, has completed its share purchase agreement to acquire 100% of the shares of CLE Canadian Leasing Enterprise Ltd. Based in Trois-Rivières, Québec, CLE provides lease financing and customized services to small businesses. Hitachi Capital Canada said the deal will add assets of $198.4 million and annual originations of $129.6 million to its business. Global subsidiaries of Hitachi Capital Corp provide financing to customers of Hitachi Ltd and Hitachi's group of companies.
3 min read · 12 May 2014
