Canadian investment and merchant banking firm Pinetree Capital has bought 10 million common shares and 10 million common share purchase warrants of Mooncor Oil & Gas Corp (TSX Venture: MOO). The transaction represents approximately 11.8% of the total issued and outstanding shares of the company. Based in Calgary, Mooncor is a junior oil and gas exploration and development company.
2 min read · 02 April 2014
Global Thermoelectric Inc, a Calgary-based provider of industrial thermoelectric generator systems and remote power generation, has been purchased by Gentherm Inc (NASDAQ-GS: THRM). The acquisition price was not published. The seller was U.S. private equity firm Rockwood Equity Partners and senior managers of Global Thermoelectric, which partnered in a $22.75 million corporate carve-out transaction in 2004. With headquarters in Northville, Michigan, Gentherm is a developer and marketer of innovative thermal management technologies.
3 min read · 02 April 2014
Carbon60 Networks Inc said Wednesday that it has received growth funding from Canadian private equity firm Roynat Equity Partners and its new CEO John Witte. No financial terms were disclosed. Based in Toronto, Carbon60 is a provider of cloud computing and managed IT solutions to Canadian enterprises and public sector clients. Update: Proceeds of the investment will enable the company to build upon its high-touch IT services offering. Established in 1999, Carbon60 has data centres in Toronto and Kelowna, British Columbia.
3 min read · 02 April 2014
Oil majors have put up for sale assets worth more than $300 billion and more could come as shareholders press for lower capital expenditure and higher dividends, according to a major private equity player investing in energy.
2 min read · 02 April 2014
Delcan Corp, a Markham, Ontario-based provider of engineering services to the transportation industry, has been bought by Parsons Corp. The acquisition price was not disclosed. According to Parsons, a Pasadena, California-based specialist in engineering, construction, technical, and management services, the deal signals its geographic expansion in transportation. The transaction also provides an exit to Canadian private equity and mezzanine firm Manulife Capital, a division of Canadian financial services company Manulife Financial Corp. Manulife Capital made an equity investment in Delcan in 2011. Founded in 1953, the company posted revenue of approximately $126 million in 2013.
3 min read · 01 April 2014
Rock Island Capital has put Welch ATM up for sale, according to two sources.
1 min read · 01 April 2014
Spanish sports management business Dorna Sports is raising up to 250 million euros (US$345 million) of new leveraged loans to pay a dividend to private equity owner Bridgepoint and shareholders, reports Reuters. Bridgepoint bought Dorna in 2006 from CVC, and last year Canada Pension Plan Investment Board (CPPIB) made a 39 percent equity investment in the company. It will be the second dividend to be taken out of the company after it conducted a 420 million euro dividend recapitalisation in 2011.
2 min read · 01 April 2014
Ontario Teachers' Pension Plan has reported a 10.9% return from its investments as of Dec. 31, 2013. That return exceeded the plan's consolidated benchmark of 9.3% and contributed to net assets rising to nearly $141 billion from $130 billion at the end of 2012. Much of the growth was attributed to the equities portfolio, which posted a one-year return of 27.6%. Private equity arm Teachers' Private Capital saw its investments increase to $14.8 billion at year's end, for a return of 26.9%. However, that performance was below the division's benchmark of 33.4%. Ontario Teachers' infrastructure and real assets portfolio totaled almost $31 billion at year's end, up from the previous $27 billion.
4 min read · 01 April 2014
Avison Young Inc has purchased London-based commercial real estate services firm Haywards LLP. The transaction, the financial value of which was not released, provides Avison Young with its first European offices in London and Thames Valley. The Toronto-based real estate company has over the past five years grown from 11 to 56 offices in 45 markets, and from 300 to more than 1,500 professionals located across Canada, the United States and Europe. It has been a portfolio investment of Canadian mid-market private equity firm Tricor Pacific Capital since October 2011.
10 min read · 01 April 2014
Relocation services provider Sirva Inc, controlled by private equity firm Aurora Capital Group and private investment firm Equity Group Investments, filed with U.S. regulators to raise about $175 million in an initial public offering.
2 min read · 01 April 2014
