Canadian pension fund manager the Caisse de dépôt et placement du Québec has renewed Michael Sabia’s mandate as president and CEO for a further five-year term, beginning on March 13, 2014. Prior to joining the Caisse in 2009, Sabia was president and CEO of telecom and media giant BCE Inc. With $176.2 billion in assets under management at the end of 2012, the Caisse is one of the world's largest pension organizations, and one of the most active limited partners and direct investors in global alternative assets, including private equity.
2 min read · 10 October 2013
TLC Laser Eye Centers, a division of TLC Vision Corp, has purchased Yonge Eglinton Laser Eye Centre, a laser vision correction provider serving the greater Toronto area. Financial details of the transaction were not released. Originally based in Mississauga, Ontario, TLC Vision was acquired by U.S. private equity firms Charlesbank Capital Partners and HIG Capital in a turnaround deal in 2010.
3 min read · 10 October 2013
Calgary-based Twin Butte Energy Ltd (TSX: TBE) has agreed to acquire oil and gas producing company Black Shire Energy Inc for around $358 million, including $108 million in debt. Black Shire, also of Calgary, is focused on its Provost oil field project in eastern Alberta, and was formed in 2010 with an equity financing from U.S. energy-focused private equity firm Lime Rock Partners. Lime Rock remains the company's principal shareholder, and under the terms of the acquisition agreement will assume a post-closing stake in Twin Butte. The deal is expected to be closed in the coming weeks, and no later than December 18, 2013.
10 min read · 10 October 2013
Toronto-based mid-market private equity firm Signal Hill Equity Partners said Thursday that it has named Roy A. Sutterfield as CEO of portfolio company Romet Limited. Prior to joining Romet, Sutterfield served as president of Elster's North American gas businesses. Based in Mississauga, Ontario, Romet is a manufacturer of rotary gas meters for the gas utilities industry.
2 min read · 10 October 2013
HootSuite has named Ken Mandel as managing director for the Asia Pacific region. Previously, Mandel worked at Salesforce.com where he served as a managing director of marketing cloud for Asia Pacific. Headquartered in Vancouver, HootSuite is a social media management provider. It is backed by Blumberg Capital, Insight Venture Partners, Accel Partners and OMERS Ventures. Update: In August, peHUB Canada interviewed OMERS Ventures' John Ruffolo about HootSuite's recent US$165 million Series B financing round.
3 min read · 10 October 2013
The private equity division of Toronto-based Brookfield Asset Management received gross proceeds of $66.7 million upon completion of a secondary offering of part of its investment in lumber manufacturer Western Forest Products Inc (TSX:WEF). The firm disposed of 46 million units at a price of $1.45 per unit. Brookfield continues to hold 49% of the company's issued and outstanding common shares. Vancouver-based Western Forest Products was formed in 2004 as a result of Brookfield's acquisition of the bankrupt Doman Industries Ltd.
5 min read · 09 October 2013
MAACO Franchising Inc, a business affiliate of Charlotte, N.C.-based Driven Brands Inc, has purchased the master franchisor rights for the MAACO car care center brand in Canada. The transaction, the financial terms of which were not published, will allow MAACO Franchising to rapidly expand in Canada. Driven Brands, a franchisor in the automotive aftermarket services industry, was acquired by U.S. private equity firm Harvest Partners from Carousel Capital in December 2011.
2 min read · 09 October 2013
Oak Brook, Ill.-based TreeHouse Foods Inc (NYSE: THS) has completed its buy of Associated Brands, a manufacturer and supplier of private-label dry blend food and household products, for $187 million. The seller in the transaction was Canadian private equity firm TorQuest Partners, which invested in the Mississauga, Ontario-based Associated Brands in 2005, and took the company private in 2007. Canadian law firm Torys LLP advised TorQuest on the TreeHouse purchase. TorQuest was profiled by peHUB Canada following last month's $535 million final close of TorQuest Partners Fund III.
2 min read · 09 October 2013
Thomas Isaac has been tapped to lead national aboriginal law activity in the private equity group of Canadian law firm Osler Hoskin & Harcourt LLP. Isaac has for many years advised private equity and other investors concerning aboriginal issues, and is the author of Aboriginal Law: Commentary and Analysis (Purich Publishing). In making the appointment, Osler noted the recent growth in private equity investments in resource sectors, and the frequency with which aboriginal issues arise in connection with these deals. Issac will be based in the firm's Calgary office.
3 min read · 09 October 2013
Canadian venture capital firm Avrio Capital has invested US$5 million in VoloAgri Group Inc, a San Francisco-based agricultural technology company focused on the vegetable seed market. Avrio's investment forms part of a larger Series B financing round that is co-led by the firm, and that will enable VoloAgri to accelerate its acquisition and growth strategy. Venture-backed since 2012, the company's other investors include U.S.-based Kleiner Perkins Caufield & Byers and Singapore-based Clean Resources Asia Growth Fund. Avrio earlier this month invested in Delta, B.C.-based Sun Select Produce LP.
2 min read · 09 October 2013
