Ventriloquist Voice Solutions International Inc, a Mississauga, Ont.-based customer communications platform, has been bought by Genesys, a provider of multi-channel customer experience and contact center solutions. The financial terms of the deal were not disclosed. Genesys said the Ventriloquist acquisition would bring additional scale and technical expertise to its communications solution, which also includes capabilities from SoundBite Communications, acquired last year. The Daly, Calif.-based Genesys is a portfolio investment of European private equity firm Permira Funds. Permira acquired the company with the participation of U.S. venture capital firm Technology Crossover Ventures in 2012.
3 min read · 21 January 2014
Global security services company Garda World Security Corp has completed its acquisition of G4S Cash Solutions (Canada), the Toronto-based subsidiary of G4S International Holdings. The transaction, which was previously priced at $110 million, will see the operations and employees of G4S Cash Solutions form part of Garda World's cash services platform. The Montréal-based Garda World was taken private for $1.1 billion by British private equity firm Apax Partners in partnership with Stephan Cretier, the company's chairman and CEO, in Nov. 2012.
1 min read · 21 January 2014
TriCan Tire Distributors Inc, the Canadian subsidiary of American Tire Distributors Inc (ATD), has purchased the wholesale distribution business of Kipling Tire Co Ltd, which is based in Etobicoke, Ontario. The financial details of the transaction were not disclosed. The Kipling Tire acquisition, which is Trican's third domestic deal since the middle of last year, will further strengthen its presence in southern Ontario, the Burlington, Ont.-based company said. Tire supplier ATD is a portfolio investment of U.S. private equity firm TPG Capital. TPG bought the Charlotte, North Carolina-based company in 2010 from Investcorp, Berkshire Partners and Greenbriar Equity.
2 min read · 21 January 2014
Spanish property developer Colonial said it has received a debt restructuring and possible takeover offer from its biggest creditor, a unit of Brookfield Asset Management, ahead of an extraordinary board meeting next week, reports Reuters. The proposal from Brookfield, which holds 46 percent of Colonial's 1.8 billion euros (US$2.4 billion) syndicated loan that matures in December 2014, is a rival offer to a proposed injection of capital announced two weeks ago by Spain's Villar Mir group. Brookfield said it has the support of 77 percent of the company's creditors for its restructuring plan, in which it would subscribe to a capital increase and become a "significant shareholder" in Colonial, according to a statement from Colonial on Friday.
2 min read · 21 January 2014
The European subsidiary of Aastra Technologies Ltd (TSX: AAH) has bought for an undisclosed price Telepo Ltd, a provider of cloud-based, multi-tenant enterprise communication solutions with headquarters in Stockholm, Sweden. Aastra was given consent to acquire Telepo from Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL), which is in the final stages of acquiring the Concord, Ont.-based business communications vendor for around $400 million. Mitel, an Ottawa-based cloud and communications software solutions provider, is majority-owned by U.S. private equity firm Francisco Partners and Dr. Terence Matthews. Osler, Hoskin & Harcourt LLP is acting for Mitel on the Aastra deal.
4 min read · 21 January 2014
The JET Group has bought for an undisclosed sum PeakWorks Inc, a Hamilton, Ont.-based fall protection, fall rescue and confined space safety products manufacturer focused on the construction and industrial markets. According to The Jet Group, the deal broadens its safety product offering by adding a portfolio of professional personal protective equipment. Based in Vancouver, The Jet Group brings together several leading brands servicing the professional tool, equipment and safety clothing markets. The company and its subsidiaries were acquired by Canadian private equity firm Penfund from Diamond Investment Group Ltd in Nov. 2012. Penfund has invested more than $2.5 billion in over 220 companies since its establishment in 1979.
3 min read · 21 January 2014
In May 2012 the world’s largest sovereign wealth fund joined U.S. investors BlackRock and Waddell & Reed to buy a $1.6 billion stake in motor racing’s Formula One. The people who had worked on the deal for months were looking forward to celebrating their hard work.
8 min read · 21 January 2014
A story Oriental Brewery boss Chang In-soo often tells about his days as a soju salesman is how he and two clients once worked through 29 bottles of the traditional Korean rice liquor at a single sitting. He feels bad, he says, they didn’t manage 30.
3 min read · 21 January 2014
Canadian law firm Osler, Hoskin & Harcourt LLP this week published its 2014 Capital Markets Report. It paints a picture of mixed activity in Canadian capital markets in 2013 – a situation that has created new pockets of opportunity for PE and venture capital fund investors.
5 min read · 17 January 2014
CHC Group Ltd has debuted its initial public offering (IPO) of 31 million shares at a price of US$10 per share. The stock began trading Friday on the New York Stock Exchange under the ticker symbol "HELI." JP Morgan, Barclays and UBS are the lead underwriters. Headquartered in Vancouver, Canada, CHC operates heavy and medium helicopters that are used to transport crew to offshore drilling rigs and provide emergency medical services. It has been backed by U.S. private equity firm First Reserve Corp since 2008. Update: CHC expects to use the net proceeds of the IPO to repay debt and for general corporate purposes.
3 min read · 17 January 2014
