Private Equity
D.S. Handling Systems Ltd has agreed to purchase the royalty owned by Grenville Strategic Royalty Corp. The deal is the result of the company's acquisition by Monteco Ltd, a Toronto-based strategic capital firm. Based in Orangeville, Ontario, D.S. Handling is a designer and manufacturer of package and pallet conveyor handling systems. Grenville, a Canadian royalty financing firm, invested $1 million in the family business to facilitate a change in ownership.
7 min read · 30 September 2015
Crown Capital Partners, which recently secured $100 million for the initial close of its fourth fund, has provided $15 million in subordinated debt funding to Petrowest Corp (TSX: PRW). Headquartered in Grande Prairie, Alberta, Petrowest was founded in 2006. Businesses that operate under its umbrella provide pre-drilling and post-completion services to the energy industry, as well as general contracting and earth moving, transportation services, contract aggregate crushing, and heavy equipment rentals. Crown Capital, a Canadian specialty finance firm, extended $25 million in debt refinancing to Petrowest in June 2011.
3 min read · 30 September 2015
InstarAGF Asset Management is seeing stronger-than-expected demand from institutional investors for its flagship infrastructure fund and is confident it will close the first round of fundraising by year end, Chief Executive Gregory Smith told Reuters. Toronto-based InstarAGF plans to raise between $400 million and $450 million in the first close of its $750 million-targeted fund.
2 min read · 30 September 2015
Canadian Pacific Railway Ltd (TSX, NYSE: CP) has bought Steelcare Inc, a supplier of handling, transportation, transloading and storage of products for the domestic steel and metals industry. The value of the acquisition was not disclosed. Canadian Pacific said the deal will help it better equip and manage its supply chain and utilize the company's in-house expertise. It will also result in projected yearly revenue of about $10 million, Canadian Pacific said. Based in Hamilton, Ontario, Steelcare was a portfolio investment of Canadian private equity firm Argosy Partners.
4 min read · 29 September 2015
Plasco Energy Group Inc has been bought by RMB Advisory Services Inc, a firm owned by Roderick M. Bryden. Bryden, who is Plasco's founder, has been appointed chairman and CEO of the company, roles he previously held. No financial terms were released. Ottawa-based Plasco, a waste-to-energy technology company, filed for creditor protection in February and was acquired by its secured creditors, North Shore Power Group Inc and Canadian Water Projects Inc. Over the years, it has raised about $250 million in private equity and venture capital, according to Thomson Reuters. Its most recent backers have included Ares Management, Killick Capital and Soros Fund Management.
3 min read · 29 September 2015
Canadian private equity firm Yellow Point Equity Partners has closed its fourth buyout fund, ear-marked for investments of between $10 million to $35 million in mid-market companies. The amount raised by Yellow Point Equity Partners IV LP was not published. The Vancouver-based firm also announced Fund IV's debut investment in Edo Japan, a fast-casual Japanese restaurant franchisor. Founded over 35 years ago in Calgary, Edo Japan today has more than 100 locations across Western Canada. Its partnership with Yellow Point will focus on its continued growth. Yellow Point's other portfolio investments include Bravo Oilfield Safety Services Inc, a safety solutions provider to the energy industry.
3 min read · 29 September 2015
Martin Schady, a partner at Canadian mining private equity firm Magris Resources, has been appointed to the board of directors of First Quantum Minerals Ltd (TSX: FM). Schady has spent the past 25 years working at a number of metals and mining companies, including Barrick Gold Corp. Earlier this year, Magris led the US$500 million acquisition of Iamgold Corp's Niobec niobium mine north of Québec City.
2 min read · 29 September 2015
Cadillac Fairview Corp Ltd, the commercial real estate arm of the Ontario Teachers' Pension Plan (OTPP) has acquired a 25 percent stake in a development joint venture in Mexico. No financial terms were released. The venture holds interests in six premium quality retail-office mixed-use projects under development in Veracruz, Queretaro, Mexico City and Leon. Cadillac Fairview is partnering with a group of Mexican investors led by Grupo Sordo Madaleno, an architecture and real estate development firm.
3 min read · 29 September 2015
Affiliates of Gibraltar & Co Inc have filed a final prospectus with Canadian securities regulatory authorities for the initial public offering of Gibraltar Growth Corp, a special purpose acquisition corporation (SPAC). The offering will seek to raise up to $115 million in gross proceeds, including proceeds obtained from an over-allotment option granted to underwriters. As previously reported by PE Hub Canada, the Gibraltar SPAC is focused on acquiring and growing consumer-facing companies in North America with an enterprise value of up to $750 million. The offering is expected to close on or about October 2nd.
6 min read · 29 September 2015
British private equity firm Apax Partners has agreed to acquire an interest in Ideal Protein, a Canadian proprietary weight loss and wellness solutions company. No financial terms were disclosed. Gatineau, Québec-based Ideal Protein has developed a comprehensive protocol for helping individuals achieve and maintain their weight-loss goals. Founded in 2004 by Dr. Tran Tien Chanh, it has partnered with more than 3,000 physician offices, medical clinics, multi-provider practices, chiropractors and pharmacies in Canada and the United States. The partnership with Apax, intended to support the acceleration of Ideal Protein's global growth, is expected to close in the coming weeks.
4 min read · 28 September 2015
