IMS Health Holdings Inc, backed by TPG Capital Funds LP, filed with U.S. regulators to raise up to US$100 million in an initial public offering of its common stock, reports Reuters. TPG, Canada Pension Plan Investment Board (CPPIB) and Leonard Green & Partners LP took IMS private in 2010 for US$5.2 billion, including debt. IMS provides prescription data to the pharmaceutical industry, medical device makers, government agencies and other companies in the healthcare sector. Founded in 1954, the company has over 5,000 clients and operates in more than 100 countries, according to its website.
2 min read · 03 January 2014
Providence Equity Partners LLC, which completed fundraising for its seventh pool last year, is exiting online car marketplace operator AutoTrader Group Inc after a more than three-year hold, sister news services peHUB and Reuters reported.
3 min read · 03 January 2014
Tembo Gold Corp (TSX Venture: TEM) is proposing a strategic financing of up to $1.28 million. Tembo is selling up to 12,800,000 units of its stock at a price of $0.10 per unit. The private equity investors are New Africa Mining Fund (NAMF) II (Mauritius), NAMF II South African Partnership and Germany's Concept Capital Management. According to the company, the net proceeds will be used to fund on-going exploration costs on its properties in Tanzania. Based in Toronto, Tembo Gold is a mineral exploration company focused on the exploration and development of gold projects in Tanzania and the rest of Africa.
3 min read · 03 January 2014
IMS Health Holdings Inc, backed by TPG Capital Funds LP, filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock, sister news service Reuters reported.
1 min read · 02 January 2014
Constellation Software Inc (TSX: CSU) has completed its purchase of Total Specific Solutions B.V., a Dutch provider of software solutions to healthcare organizations, governments and financial institutions. The deal's value was previously reported as EUR240 million, or approximately C$350 million, funded by Constellation through an amendment of its existing credit facility. The Toronto-based company, which is focused on acquiring, managing and building vertical market software businesses, is a portfolio investment of OMERS Private Equity, the private equity arm of the Ontario Municipal Employees Retirement System.
2 min read · 02 January 2014
Bluedrop Performance Learning Inc (TSX Venture: BPL) has completed its acquisition of Atlantis Systems Corp (NEX:AIQ.H) for $1 million. U.S. private equity firm ComVest Partners was the controlling shareholder of Atlantis Systems, a Dartmouth, Nova Scotia-based provider of technical training solutions for the military, commercial aviation sectors and energy markets. ComVest made equity and debt investments in the company in 2011. Bluedrop, an Ottawa-based workplace training provider, obtained funding for the transaction from Canadian specialty financial services firm Difference Capital Financial.
6 min read · 02 January 2014
Pacific Rubiales Energy Corp (TSX: PRE) (BVC: PREC) (BOVESPA: PREB) has agreed to sell its 5 percent interest and transportation rights in Columbian oil pipeline Oleoducto Central S.A. for US$385 million. The buyer is a consortium led by Darby Private Equity, the private equity investment arm of U.S. financial services firm Franklin Templeton, which will use an affiliate, Fondo de Infraestructura de Transporte de Colombia, to make the investment. The deal is expected to close early in 2014. Pacific Rubiales, a petroleum exploration and production company with headquarters in Toronto, will use proceeds of the sale to pay down debt incurred as a result of its acquisition of Petrominerales Ltd in Nov. 2013.
6 min read · 02 January 2014
KIK Custom Products Inc has completed its previously-announced buy of the consumer products business of Chemtura Corp for an adjusted purchase price of $300 million. The acquisition price remains subject to a post-closing adjustment for working capital and assumed pension liabilities. Headquartered in Lawrenceville, Georgia, Chemtura's consumer products business is known as BioLab in North America and other regions, and Bayrol in Europe. The Concord, Ont.-based KIK, a manufacturer of consumer, institutional and industrial products, is a portfolio company of U.S. private equity firm CI Capital Partners. KIK was taken private by CI Capital Partners for $826 million in May 2007.
4 min read · 02 January 2014
Tomkins Plc, a manufacturer of auto parts and building products that was taken private in 2010 in a US$5 billion leveraged buyout, filed for an initial public offering in the United States on Monday under the name Gates Global Inc. In the filing, Gates proposed to raise up to US$100 million in the IPO. The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could vary. Reuters first reported last month, based on sources familiar with the matter, that Onex Corp and the Canada Pension Plan Investment Board, or CPPIB, were exploring a sale of Tomkins that could value it at as much as US$7 billion.
2 min read · 02 January 2014
Earlier this year, Canadian secondary market intermediary Setter Capital stirred some controversy with a half-year report showing secondary deal volume at around the $15 billion level, putting the market on track to break previous yearly records. Setter’s calculations were much higher than the more established deal volume survey published by Cogent Partners, which had revealed deal volume was only around $7 billion at the half-year mark. Now, Setter has published its full-year report, showing deal volume has come in at around $36 billion for 2013. Setter’s survey is based on data from “70 of the top 115 secondary buyers,” according to Setter Capital. “We conducted an 11-question survey and were please that over 60 percent of the active players were willing to be transparent and participate.” According to Setter, the 70 buyers alone accounted for about $23.6 billion of deal volume this year.
3 min read · 02 January 2014
