Goldcorp Inc , the world's second-biggest gold miner by market value, said on Thursday that it raised its offer to buy Osisko Mining Corp to about $3.6 billion, reports Reuters. Osisko has rejected Goldcorp's bid as too low. Osisko earlier this month unveiled a complex "white knight" bid by fellow Canadian miner Yamana Gold for 50 percent of its assets. As part of the deal, the company entered into funding arrangements with CPPIB Credit Investments and the Caisse de dépôt et placement du Québec.
1 min read · 10 April 2014
Canadian diamond exploration and development company Stornoway Diamond Corp (TSX: SWY) has secured financing for the large-scale construction of its Renard Diamond Project in the James Bay region of north-central Québec. The entire transaction, totaling $944 million, will include commitments from global private equity firm Orion Mine Finance Group, Ressources Québec, an affiliate of Investissement Québec, and the Caisse de dépôt et placement du Québec. Orion will invest US$360 million, while Ressources Québec and the Caisse will contribute $220 million and $105 million, respectively. The Montréal-based Stornoway said the deal represents the largest project funding package for a public diamond company.
10 min read · 10 April 2014
IDS Intelligent Data Systems (Canada) Inc, a portfolio company of U.S. private equity firm Presidio Investors, has purchased Ontario-based companies CNC Office Systems Ltd and Ontario Data Supplies Ltd. The value of the two acquisitions were not disclosed. Based in Mississauga, Ontario, IDS is a provider of managed print services. The company was founded in 2011 through the merger of five Canadian companies in the sector. Presidio backed the transaction. IDS said that since then it has acquired ten imaging and professional service companies in Ontario and Québec.
3 min read · 10 April 2014
Ice cream chain Cold Stone Creamery, a subsidiary of Scottsdale, Arizona-based restaurant brands company Kahala Corp, has sold its interest in the master franchisee in Japan to HotLand Corp to further develop the concept within that country. Financial details of the transaction were not released. Kahala was last year acquired by Markham, Ontario's Serruya family, which manages a private equity fund that invests in retail franchises. Kahala is also a portfolio company of Canadian private equity firm Delavaco Group.
3 min read · 10 April 2014
Capital régional et coopératif Desjardins, a private equity fund managed by Desjardins Capital de risque, and the Caisse de dépôt et placement du Québec , have together invested $22 million in the acquisition of the engineering services division of Netricom by Telecon Group. The transaction increases the Canadian market presence of the Trois-Rivières, Québec-based Telecon, and allows it to provide a modular or comprehensive offering of integrated telecommunications and power infrastructure services. The Caisse de dépôt and Desjardins have backed Telecon since 2011. To date, they have jointly invested approximately $80 million in the company. Desjardins is Telecon's majority owner.
5 min read · 10 April 2014
Jameson Bank, a Toronto-based specialist in foreign exchange and payment services, has agreed to be acquired by U.S.-based financial services company AFEX. The financial terms of the deal, expected to be close in the second quarter, were not disclosed. Founded in 1989, Jameson Bank provides services to nearly 4,000 businesses in Canada and the United States. It is a portfolio investment of John Rochon of Richmont Holdings, a family-owned firm that makes investments in operating companies, investment vehicles and other opportunities. Richmont is based in Plano, Texas.
3 min read · 10 April 2014
EnGlobe Corp and LVM Inc have agreed to combine in a bid to create the largest Québec-based provider of integrated environmental and technical services. The deal, which is expected to close in the second quarter, is being led by Canadian private equity firm ONCAP Management Partners with the support of the Caisse de dépôt et placement du Québec. The Québec City-based EnGlobe is currently a portfolio company of ONCAP, the mid-market platform of Onex Corp. ONCAP made an initial investment in EnGlobe in 2006, and subsequently partnered in the company's acquisitions and its go-private transaction in 2011. EnGlobe is also a portfolio company of Canadian specialty finance firm Wellington Financial LP. LVM has its headquarters in Laval.
4 min read · 10 April 2014
Tailwind Capital, which is out fundraising, has put VersaPharm up for sale, two sources said.
1 min read · 09 April 2014
Just seven months after completing their $6.9 billion acquisition of BMC Software, the sponsors are getting more than half of their investment back in the company even with revenue and EBITDA down year over year.
2 min read · 09 April 2014
Singapore state investor Temasek is further opening up its private equity investments to outside investors, as the $170 billion investment firm broadens an investor base that may eventually include retail investors, according to sister news service Reuters.
2 min read · 09 April 2014
