Brad Meikle

Burger King France seeks to acquire Qualium-owned Quick Group

Burger King France, a master franchisee of the Burger King brand in France, has proposed to acquire Quick Group, a quick service restaurant business operating mainly in France, Belgium and Luxembourg. The deal, the financial terms of which were not released, is expected to close this year. Burger King France is owned by Groupe Bertrand and Restaurant Brands International Inc (TSX, NYSE: QSR), the Oakville, Ont.-based parent of Tim Hortons Inc and Burger King Worldwide Inc, which were combined by 3G Capital for $12.6 billion in 2014. Burger King France is buying Quick from Qualium Investissement, a French private equity firm.

Nipro to acquire Difference Capital-backed Infraredx

Japan's Nipro Corp (TYO: 8086) has agreed to acquire Infraredx Inc, a cardiovascular imaging company focused on the diagnosis of coronary artery disease. Infraredx, which is based in Burlington, Massachusetts, is a portfolio investment of Canadian specialty finance firm Difference Capital Financial (DCF). DCF invested US$5 million in convertible debentures of the company and said it expects to receive about that amount from the deal, subject to certain conditions. Earlier this month, DCF sold its majority interest in WorldGaming.

Government officials OK buy of PE-backed Casino New Brunswick

Great Canadian Gaming Corp has received government approvals for its purchase of Casino New Brunswick, a casino, hotel and multi-use entertainment and convention centre located in Moncton. The deal, valued at about $95 million, is expected to close early next month. The sellers are Canadian private equity firm Clairvest Group and Sonco Gaming New Brunswick LP. Clairvest said it expects to receive gross proceeds of about $55 million from the transaction.

Claude Resources repays $25 mln special situations loan

Claude Resources Inc (TSX: CRJ) has repaid a $25 million special situations loan provided by Crown Capital Partners, a Canadian specialty finance firm. Crown Capital extended the debt facility to the Saskatoon-based company in April 2013. Claude Resources is a fully integrated gold mining business with assets located in northern Saskatchewan. Crown Capital this month raised an initial $100 million for its fourth debt and quasi-equity fund, Crown Capital Fund IV LP.

Crown Capital Partners meets initial $100 mln target for Fund IV

Canadian specialty finance firm Crown Capital Partners has initially closed its fourth special situations debt fund, Crown Capital Fund IV LP. Fund IV secured $100 million, meeting its first close target. The Calgary-based firm is seeking $300 million in total for the fund. It said additional closings will occur within the next three years as deal opportunities are identified. As reported by PE Hub Canada in June, Crown Capital has been pursuing a two-track fundraising process that includes proceeds obtained through its initial public offering (IPO). The IPO was completed in July. Capital raised from both sources will support the firm's expanded program for investing debt and quasi-equity in mid-market companies.

Total Energy Services drops plans to buy Strad Energy Services

Total Energy Services Inc (TSX: TOT) has decided it will not proceed with a previously-announced plan to buy Strad Energy Services Ltd (TSX: SDY), a Calgary-based well-site infrastructure solutions provider. The company said Strad implemented a shareholder rights plan, or "poison pill", that requires a takeover bid to remain open for 120 days in order to qualify as a "permitted bid". The plan's length poses undue risk, Total said. Canadian private equity firm Richardson Capital has invested in Strad in the past. It continues to hold an interest in the business.

GI Partners-backed Logibec beefs up board with new addition

Sino-Canada fund to increase stake in Oceanic Iron Ore to 19.9 pct

Vancouver-based mining company Oceanic Iron Ore Corp (TSX-V: FEO) has agreed to a refinancing of a $3 million debenture provided by the Sino-Canada Natural Resources Fund. As a result, the Sino-Canada fund's interest in Oceanic will increase to 19.9 percent as of November 23, 2015, and the fund will be entitled to representation on the company's board of directors. Oceanic is focused on the development of Ungava Bay iron properties in Nunavik, Québec. Managed by CapitalAsia, the Sino-Canada fund makes private equity investments in Canadian natural resource companies.

Total Energy Services announces bid for Strad Energy Services

Total Energy Services Inc (TSX: TOT) has announced its plans to acquire Strad Energy Services Ltd (TSX: SDY), a Calgary-based provider of well-site infrastructure solutions to the oil and gas industry. Total has offered to pay $2.90 per share in cash for the company, or $1.35 in cash plus 0.10 of a common share of Total. The $2.90 per share offer values Strad at about $108 million, Reuters reported. Total said it has announced the offer in advance to give the board of directors of Strad additional time to consider its terms. Strad is a portfolio investment of Canadian private equity firm Richardson Capital. Richardson sold a portion of its interest in the company last year.

Tricor-backed CPI Card Group seeks up to $365 mln from IPO

CPI Card Group Inc, a portfolio company of Canadian private equity firm Tricor Pacific Capital, has set the financial terms of its previously-announced initial public offering on Nasdaq and the Toronto Stock Exchange. The Littleton, Colorado-based company, a manufacturer of financial payment cards and other card products and services, said it expects to receive net proceeds of about US$140 million from the offering. According to CPI's filing with the U.S. Securities Exchange Commission, the maximum amount that could be generated is about US$365 million. The offering includes the sale of shares held by the company's current investors. Tricor has backed CPI since June 2007.