Richard Rémillard, executive director of Canada's Venture Capital and Private Equity Association (CVCA), will be leaving that position to form an independent consulting firm specializing in financial services, peHUB Canada has learned. Joining the CVCA as its first executive director in 2003, Rémillard will continue to work with the association in various capacities until the end of 2014. The CVCA has hired executive search firm Odgers Berndtson to recruit a Chief Executive Officer (CEO), peHUB Canada has also learned. The new position is intended "to lead the organization to even greater heights and enhance the value it provides to member organizations and stakeholders" according to the official posting published on the CVCA's website today.
2 min read · 25 October 2013
Private equity firm Wind Point Partners is exploring a sale of Hearthside Food Solutions LLC, the largest food contract manufacturer and largest privately-held bakery in the United States, three people familiar with the matter said, sister news service Reuters reported.
2 min read · 25 October 2013
Energy Future Holdings has stepped up talks with bondholders of its regulated unit, several people close to the talks told Reuters News, as it holds out hope of reaching the framework of a restructuring agreement before an expected bankruptcy.
3 min read · 25 October 2013
Steve Yuzpe has been appointed president and CEO of Sprott Resource Corp (TSX: SCP), a Canadian private equity firm focused on investing in natural resource sectors. He replaces Kevin Bambrough, who has led the Toronto-based firm since 2009. Yuzpe was previously Sprott Resource's CFO and a member of its investment team. It was also announced that Terrence Lyons will assume the chairmanship of the firm's board of directors, and that Rick Rule and Peter Grosskopf have been named managing directors.
4 min read · 25 October 2013
Helijet International Inc, a Richmond, British Columbia-based aviation company that offers regularly scheduled helicopter flights between Vancouver and Victoria, recently received an undisclosed investment from subordinated debt and mezzanine financing provider First West Capital. Funding proceeds are being used to expand Helijet's business. The Vancouver-based First West Capital is the $100 million investment arm of First West Credit Union.
4 min read · 25 October 2013
Canada Bread Company Ltd, an affiliate of Toronto-based food processor Maple Leaf Foods Inc (MFI: TSX), has agreed to sell its fresh pasta and sauce business Olivieri Foods to Ebro Foods SA for $120 million. The transaction is expected to be completed by the end of 2013. Maple Leaf, which is backed by West Face Capital, earlier this week flagged a strategic interest in the sale of its majority stake in Canada Bread. Ebro Foods, a Madrid, Spain-based food group operating in the rice, pasta and sauces sectors, is a portfolio investment of Spanish private equity firm Corporación Financiera Alba.
3 min read · 25 October 2013
The Canada Pension Plan Investment Board expanded its real estate presence in Brazil on Friday, saying it has formed a partnership with Banco BTG Pactual to invest in residential development, reports Reuters. The CPPIB, one of the world's largest pension fund investors, said it had committed an equity investment of $240 million to give it a 40 percent stake in the venture, while BTG Pactual will make an equal investment.
1 min read · 25 October 2013
U.S. private equity firm Ares Management and Canada Pension Plan Investment Board said Friday that they have completed their previously announced buy of Neiman Marcus Group Ltd Inc for a purchase price of approximately US$6 billion. Headquartered in Dallas, the retailer operates 42 namesake department stores. Update: Neiman Marcus was taken private by a group of investors led by TPG Capital LP and Warburg Pincus LLC in 2005 for US$5.1 billion.
2 min read · 25 October 2013
Shares of CommScope Holdings Co Inc, which is backed by private equity firm Carlyle Group LP, rose 3 percent in their debut, valuing the telecommunications equipment maker at $2.86 billion, sister news service Reuters reported.
2 min read · 25 October 2013
Maple Leaf Foods Inc has launched an auction for its bakery company Canada Bread, targeting Grupo Bimbo, one of the world’s largest bread makers, as well as private equity, several people familiar with the matter said, sister news service Reuters reported.
2 min read · 25 October 2013
