Calgary-based oil and gas company Bellatrix Exploration Ltd (TSX, NYSE MKT: BXE) has formed a $240 million joint venture partnership with Troika Resources Private Equity Fund. Based in Seoul, South Korea, Troika is managed by Korea Development Bank, SK Energy and Samchully Asset Management Co. The partnership vehicle, called TCA Energy Ltd, will contribute $120 million to the drilling and developing of lands in the Ferrier Cardium region of Alberta. Closing of the partnership is expected to occur on or before November 15, 2013.
5 min read · 16 October 2013
Toronto-based Livingston International Inc, a specialist in customs brokerage and trade compliance, has completed its previously announced purchase of assets of Advantex Express Inc and its two related U.S. entities. Financial terms of the transaction were not disclosed. Advantex is a transportation services and customs brokerage company with headquarters in Mississauga, Ontario. Livingston was taken private for $324 million by Canada Pension Plan Investment Board and U.S. private equity firm Sterling Partners in 2010.
2 min read · 16 October 2013
Canadian mid-market private equity firm Imperial Capital Group has completed its previously announced $17 million investment in STI Technologies Ltd, a Halifax, Nova Scotia-based provider of reimbursement solutions for the healthcare market. The transaction provided exits to the company's early investors, including GrowthWorks Atlantic Venture Fund. Imperial's investment in STI marks the second deal done by the firm's fifth fund, Imperial Capital Acquisition Fund V, which recently raised over $250 million according to an exclusive report by peHUB Canada.
3 min read · 16 October 2013
BP Capital, the investment firm founded by T. Boone Pickens, is out fundraising for a private equity fund, five sources said, sister publication peHUB reported.
1 min read · 16 October 2013
Private equity firms in Europe are refinancing the debts of the companies they own at a record rate this year, new data show, as they capitalize on buoyant debt markets to ease the funding pressures on their businesses, sister news service Reuters reported.
2 min read · 16 October 2013
STI Technologies Limited has received $17 million in funding from Toronto-based private equity firm Imperial Capital Group. Bloom Burton & Co advised STI in the transaction. Based in Halifax, STI is a reimbursement solutions provider for the Canadian healthcare market.
3 min read · 16 October 2013
Ivanhoé Cambridge, the real estate investment arm of pension fund manager the Caisse de dépôt et placement du Québec, has acquired a 51% interest in 1211 Avenue of the Americas, a 45-storey office building in New York City. The price tag was more than US$850 million. This transaction brings Ivanhoé's total investments in the office and multi-residential areas of Manhattan to over US$3 billion.
2 min read · 15 October 2013
ZM Capital portfolio firm Alloy Digital has been combined with Break Media to create Defy Media, a digital entertainment shop focused on 12-to-34 year olds, with projected annual revenue of $100 million.
2 min read · 15 October 2013
JP Morgan’s One Equity Partners (OEP) is seeking to sell its majority stake in Austrian packaging group Constantia Flexibles either through a stock market listing or a trade sale, three people familiar with the matter said, sister news service Reuters reported.
2 min read · 15 October 2013
Thetford Mines, Québec-based Fournier Industries Inc has been acquired by Capital régional et coopératif Desjardins, a fund managed by Canadian private equity firm Desjardins Capital de risque, in partnership with members of the company's management team. The control-stake deal allows the company to consolidate its position across Québec, and focus on growth, optimization of services and the development of new products and markets. Founded in 1960, Fournier Industries specializes in the design, manufacture and installation of industrial equipment.
3 min read · 15 October 2013
