The private equity arm of Sprott Asset Management announced this week that it, along with Woori Asset Management, will be co-managing a US $750 million private equity fund on behalf of South Korea's National Pension Service and the Korean Electrical Power Company. The fund will be focusing globally on investments in the natural resources and power sectors.
3 min read · 23 December 2013
Indiana-based Steel Dynamics has appointed Bradley Seaman to its board of directors replacing James Trethewey, who passed away on Oct. 18. Seaman has worked since 2012 as managing partner at Vancouver-based Tricor Pacific Capital, responsible for leading overall firm operations, strategy, funding and investments. Prior, he was a managing director and head of U.S. operations at the firm.
3 min read · 23 December 2013
Connecticut-based Aircastle, a company selling and leasing aircraft, has formed a joint venture with the Ontario Teachers' Pension Plan to invest in leased aircraft, with the goal of investing up to $1 billion. The first investment of the venture is two Airbus aircraft leased to Indonesia carrier PT Garuda Indonesia.
3 min read · 23 December 2013
Toronto-based iGan Partners announced this week that it has made a substantial investment in Regal Financial Bankcorp, a community bank based in Seattle. Financial terms were not disclosed.
1 min read · 23 December 2013
Resource Capital Fund VI has completed a $50 million preconstruction loan to Avanti Mining. According to Avanti, the funds will be used for its Kitsault project based in British Columbia.
2 min read · 23 December 2013
OMERS Private Equity has agreed to sell Maxxam Analytics International Corp. to Bureau Veritas SA for CAD$650 million. The transaction is expected to close in the first quarter of 2014. Robert W. Baird & Co. served as financial advisor on the deal. Based in Canada, Maxxam is a provider of analytical services and solutions to the energy, environmental, food and DNA sectors.
3 min read · 23 December 2013
Canadian buyout, mezzanine and related PE firms have done pretty well for themselves on the fund-raising trail this year. Major partnership closings of the last few months have been particularly successful. As a consequence, 2013 appears to be shaping up as the best year yet for Canadian fund-raising – bar none – with new capital committed likely to total well above $15 billion.
3 min read · 23 December 2013
Emerald Expositions Inc, a portfolio company of Canadian private equity firm Onex Corp, has agreed to buy George Little Management LLC (GLM) for US$335 million. The seller in the transaction is U.S. private equity firm Providence Equity Partners, which acquired the White Plains, New York-based tradeshow company in 2011. The deal, which will be funded by around $200 million of debt and a $140 million equity investment from Onex Partners III, is expected to close in Jan. 2014. Onex earlier this year acquired Emerald Expositions, a San Juan Capistrano, Calif.-based operator of business-to-business trade shows and conferences, for US$950 million.
4 min read · 20 December 2013
Canadian pension fund manager the Caisse de dépôt et placement du Québec and the Business Development Bank of Canada (BDC) have together invested $17.5 million in Sunchef Foods Inc. The Caisse is contributing $10 million to the deal, while BDC is contributing $7.5 million. Founded in 1996, the Montréal-based company is focused on the chicken processing industry. Investment proceeds will assist Sunchef in completing its Anjou plant expansion and diversifying its product lines for the retail and food services markets.
3 min read · 20 December 2013
Husky Injection Molding Systems Ltd has completed its previously-announced purchase of Schöttli Group of Diessenhofen, Switzerland, which specializes in medical and closure mold making. The seller in the non-disclosed transaction was European private equity firm CGS Management, which acquired a majority stake in Schöttli in 2008. Husky, a supplier of injection molding equipment and services to the plastics industry, said the deal would give it deeper knowledge in medical applications, and expertise to build melt delivery systems. The Bolton, Ont-based Husky is a portfolio company of OMERS Private Equity and Berkshire Partners. OMERS and Berkshire jointly bought the business from Onex Corp for $2.1 billion in 2011.
2 min read · 20 December 2013
