Toronto-based junior mining company QMX Gold Corp (TSX:QMX) has agreed to an extension of a bridge loan facility provided by Third Eye Capital. The deal's terms and conditions will remain subject to those contained in an earlier agreement. Third Eye Capital originally provided the company with US$17.5 million in bridge financing in 2012. QMX Gold also announced that it expects the pending sale of the Snow Lake Property to Northern Sun Mining Corp to close on or before March 31, 2014. Based in Toronto, Third Eye Capital makes investments ranging from $5 million to $50 million in undervalued companies.
3 min read · 29 January 2014
Vernon, B.C.-based forest products company Tolko Industries Ltd recently sold its crosstie treating business and related manufacturing facility to Koppers Holdings Inc (NYSE: KOP) for $32.4 million. The Tolko treating division produces railway ties, bridge timbers and crossing planks. Koppers, a Pittsburgh, Penn.-based integrated producer of carbon compounds and treated wood products, said the acquisition will strengthen its presence in the Canadian railroad industry as well as in the northwest U.S. Koppers is a portfolio company of New York-based private equity firm Saratoga Partners. Capital West Partners acted as financial advisor to Tolko in the transaction.
3 min read · 29 January 2014
A U.S. bank regulator is warning about the dangers of banks and alternative asset managers working together to do risky deals and get around rules amid concerns about a possible bubble in junk-rated loans to companies, sister news service Reuters reported.
4 min read · 29 January 2014
Iotum, an operator of online collaboration, WebRTC and group calling services, has bought Vancouver-based conferencing platform Gaboogie for an undisclosed amount. The Gaboogie acquisition is iotum's third in nine months. Among its previous deals, the company last May bought Glendale, Calif.-based Global Conference Partners, formerly a portfolio company of U.S. private equity firm American Capital. Iotum, which is backed by boutique technology investor Verdexus, said the Gaboogie transaction will boost the company's user base and amortize its infrastructure and core technology, while reducing churn from the acquired properties.
2 min read · 28 January 2014
Eric Margolis, owner of Jamieson Laboratories Ltd, a Windsor, Ont.-based provider of vitamins, minerals and nutrition supplements, has agreed to sell the company to U.S. private equity firm CCMP Capital Advisors. The acquisition price was not disclosed, however, one source has pegged it at $300 million. The deal is expected to close at the end of January. Margolis said the backing of Jamieson by CCMP will provide new capital infusions and management to continue its growth, including expansion into the United States and globally. Margolis will remain chairman of the the company's board of directors. CCMP portfolio company Milacron LLC last year bought Georgetown, Ontario-based plastics manufacturer Mold-Masters Ltd from U.K. private equity firm 3i Group.
4 min read · 28 January 2014
It’s an issuer’s market again in 2014 for U.S. leveraged loans, with few detour signs on this one-way road, sister news service Thomson Reuters LPC reported.
4 min read · 28 January 2014
Urban Select Capital Corp has closed $1 million in a private placement. The investor was Oriental Sense Development Ltd, which acquired 12.5 million shares of Urban Select Capital at $0.08 per share. Based in Vancouver, Urban Select Capital is focused on investing growth capital into private and public companies in a broad range of sectors including natural resources, healthcare, and agriculture and consumer retail services.
2 min read · 28 January 2014
Shares of Santander Consumer USA Holding Inc, the auto-finance unit of Spanish bank Santander SA, rose as much as 10 percent in their U.S. market debut as investors expect the company to benefit from rising auto sales, sister news service Reuters reported.
3 min read · 28 January 2014
Genstar Capital LLC is exploring a sale of TravelClick Inc, a provider of online reservation systems to the hotel industry that could be valued at more than $800 million, according to four people familiar with the matter, sister news service Reuters reported.
1 min read · 27 January 2014
The buyout of natural health products manufacturer Atrium Innovations Inc (TSX: ATB & ATB.DB) by an investor group led by European private equity firm Permira Funds for approximately $751.2 million has received approval from the Superior Court of Québec. The legal sanction, which follows the deal's approval by Atrium investors on January 21, suggests that the acquisition should be finalized by Feb. 2014. The Fonds de solidarité des travailleurs du Québec FTQ and Caisse de dépôt et placement du Québec, who collectively hold about 25 percent of the Québec City-based Atrium, previously indicated their support for the buyout.
4 min read · 27 January 2014
