Constellation Software Inc (TSX: CSU) has agreed to buy Total Specific Solutions B.V., a Dutch provider of software solutions to healthcare organizations, governments and financial institutions, for EUR 240 million (approximately C$350 million). In conjunction with the deal, which is expected to close before the end of 2013, Constellation has amended its existing credit facility to add a term loan of US$350 million to be used for the purposes of funding the acquisition and related expenses. The Toronto-based Constellation, which is focused on acquiring, managing and building vertical market software businesses, is a portfolio company of OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System.
4 min read · 16 December 2013
Mitel Networks Corp (TSX:MNW) (Nasdaq:MITL) has received approval from Industry Canada to proceed with its previously-announced $400 million buy of Aastra Technologies Ltd (TSX:AAH), an enterprise communications company based in Concord, Ontario. The deal's approval under the Investment Canada Act is one of the final steps in its closing, which is expected to take place in early 2014, subject to the approval of Aastra shareholders and other conditions. 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 in the transaction.
4 min read · 16 December 2013
Blackstone, CCMP Capital and Investcorp are the remaining candidates in a bid to buy a stake in Italy’s Versace, three sources close to the matter told sister news service Reuters.
2 min read · 16 December 2013
Spanish infrastructure asset manager Globalvia Infraestructuras S.A. has completed its capital raising process, securing a total of EUR 750 million for its growth strategy. OPTrust, Netherlands-based PGGM, and U.K.-based Universities Superannuation Scheme jointly contributed EUR 350 million in the form of a convertible loan facility. Both OPTrust and PGGM have also agreed to further commitments beyond the EUR 400 million they originally committed in 2011. Globalvia currently operates 30 infrastructure assets in rail, roads, ports, airports and hospitals sectors. OPTrust's Kevin Warn-Schindel and Sandra Bosela discussed their role in the 2011 recapitalization of the firm with peHUB Canada in an interview this past August.
5 min read · 13 December 2013
Canadian mid-market private equity firm Birch Hill Equity Partners has agreed to sell common shares in DHX Media Ltd (TSX: DHX) at a price of $4.70 per share. The secondary offering transaction, which is expected to close in Jan. 2014, will realize proceeds of approximately $133 million. Halifax, Nova Scotia-based DHX Media, which is focused on TV production and distribution, interactive content and entertainment licensing, became a portfolio investment of Birch Hill and OMERS Private Equity when the company bought Cookie Jar Group for $111 million in 2012. DHX Media recently acquired Ragdoll Worldwide Ltd as well as the Family Channel and Disney-branded channels.rens-channels-for-170-mln/" target="_blank">Family Channel and Disney-branded channels.
3 min read · 13 December 2013
Banks will have to hold more capital to cover investments in some “shadow banks”, such as hedge funds and private equity, from January 2017, global regulators said, sister news service Reuters reported.
2 min read · 13 December 2013
Canadian pension fund manager the Caisse de dépôt et placement du Québec has invested an additional $4 million of equity in CAD Railway Industries Ltd, a manufacturing company servicing the rail, marine, mining, and power generation industries, with a particular focus on rolling-stock repair and refurbishment. The new funding will allow CAD Railway Industries to modernize its equipment and facilities, and diversify its services over the long term. The Caisse has been a backer of the company since 2011, when it made a $7 million investment as part of a management buyout transaction. CAD Railway Industries was founded in 1968 and is based in Lachine, Québec.
3 min read · 12 December 2013
anadian private equity firm TorQuest Partners has led a group of co-investors in the acquisition of a majority stake in A&B Rail Services Ltd, an Edmonton-based railway services company focused on providing railway maintenance, new track construction, rehabilitation and emergency services. The seller in the non-disclosed deal was Fulcrum Capital Partners, which invested in A&B Rail in June 2008. Company president Paul Brum and other senior management members will continue to hold a significant equity interest in the business. TorQuest's investment in A&B Rail is the second deal done to date by TorQuest Fund III, which closed at $535 million in September. Last week, the fund led the recapitalization of Cambridge, Ontario-based Kissner Milling Co Ltd.
3 min read · 12 December 2013
Canadian private equity firm Beedie Capital Partners has made an investment in Zafin Labs Technologies Ltd, a provider of relationship banking software solutions for the financial services industry. Beedie committed a total of $5 million in convertible debt and standby facilities to be used for the purposes of growth capital. Additional terms of the deal were not disclosed. Founded in 2002, Zafin operates out of multiple global locations, including North America, Europe, Middle East, Africa and Asia Pacific. The Vancouver-based Beedie provides growth financing solutions for small to mid-market companies across a wide variety of industry sectors.
3 min read · 12 December 2013
The Canada Pension Plan Investment Board said on Thursday it has agreed to acquire the assets of Assiniboia Farmland, a fund that owns and manages a large portfolio of farmland in Saskatchewan, for about C$128 million, reports Reuters. CPPIB said Assiniboia's diversified portfolio consists of about 115,000 acres of farmland that produce a variety of crops, including wheat, barley and canola. Last year, CPPIB launched its agriculture investment program which will initially focus on farmland opportunities in Canada, the United States, Australia, New Zealand and Brazil.
1 min read · 12 December 2013
