Calgary-based Bonnett's Energy Corp (TSX: BT) a provider of services to downhole clients in the Western Canada Sedimentary Basin, is seeking shareholder approval of a take-private acquisition proposal, announced in September, by an investor group led by U.S. private equity firm Mill City Capital. The investor group includes members of the company's management team. The transaction, which has been recommended by Bonnett's board of directors, values the company at approximately $117 million. Shareholders will consider the Mill City proposal at a special meeting to be held on October 31, 2013.
5 min read · 07 October 2013
BDC Subordinate Financing, the investment arm of Business Development Bank of Canada (BDC), has appointed Barry Hubich to the new position of vice president, subordinate financing, Western Canada, and Matthew Kellow to the position of managing director, subordinate financing, Prairies, peHUB Canada has learned. In these roles, they will have particular responsibilities for providing support to Western-based entrepreneurs. Prior to joining BDC in 2004, Hubich held various management positions at Canadian Imperial Bank of Commerce, while Kellow previously worked at Royal Bank of Canada and Toronto-Dominion Bank of Canada. BDC Subordinate Financing provides investments of between $250,000 and $20 million to Canadian small businesses.
1 min read · 07 October 2013
N. Harris Computer Corp, a subsidiary of Toronto-based software company Constellation Software Inc (TSE: CSU), has agreed to purchase Sand Technology Inc for around $3.65 million. The transaction is expected to close in November 2013. With offices in Canada, the United States, Europe and Australia, Sand is an advanced analytic database platform. Constellation is a portfolio investment of OMERS Private Equity, which has backed the company since 2000.
4 min read · 07 October 2013
Montréal-based Stornoway Diamond Corp (TSX:SWY) has entered into an unsecured non-revolving bridge credit facility of up to $20 million with Ressources Québec, a subsidiary of Investissement Québec, the company's largest shareholder. Proceeds of the facility will be used for the development of the Renard Diamond Project in the James Bay region of north-central Québec, and for general corporate purposes. Stornoway has also been backed by the Fonds de solidarité des travailleurs du Québec FTQ.
8 min read · 07 October 2013
Toronto-based Catalyst Capital Group has raised US$812 million of capital commitments for its fourth distressed-for-control partnership, Catalyst Fund LP IV, exceeding its initial target range of up to US$750 million. Fund IV was backed by existing investors in Catalyst's other funds, as well as new institutional investors. The firm's previous partnership, Catalyst Fund LP III, had its final close in 2011 at a hard cap of over US$1 billion. Catalyst's current portfolio companies include Gateway, Planet Organic, Snowbear and YRC Worldwide.
2 min read · 07 October 2013
Canadian mid-market private equity firm TorQuest Partners has sold its interest in 4Refuel Canada LP to U.S. private equity firm Kelso & Co for an undisclosed price. The Langley, British Columbia-based 4Refuel, a provider of mobile on-site refueling and fuel management services, has been backed by TorQuest since July 2010, when the firm invested in partnership with 4Refuel's founder and members of its management team. As reported by peHUB Canada, TorQuest in September closed its its third fund,TorQuest Partners Fund III, at $535 million.
1 min read · 07 October 2013
Integrated Asset Management Corp (TSX: IAM) has raised $387 million for its fourth private debt fund. This is the second and final close of the partnership. Based in Toronto, IAM is an alternative assets manager. Update: The new fund, which was backed by Canadian pension funds and institutional investors, is managed by IAM subsidiary Integrated Private Debt Corp, and will invest in fixed rate, investment grade term loans to mid-market companies and projects.
2 min read · 07 October 2013
Anaergia Inc said Monday that it has completed a C$47.5 million private placement. Investors included Macquarie Capital, Tandem Expansion Fund, Export Development Canada (EDC) and Global H2O Investments. Headquartered in Burlington, Ontario, Anaergia is a technology company that helps convert organic waste streams into valuable resources. Update: In connection with the deal, David Bookbinder, managing partner at Canadian venture capital firm Tandem, has joined Anaergia's board of directors, as has Macquarie Capital's Duncan Murdoch. EDC lead investment manager Eugene Siklos was granted board observer status.
4 min read · 07 October 2013
Sun Select Produce LP has raised C$7 million in financing. Avrio Capital led the round with participation from several investors. Based in Delta, British Columbia, Sun Select is a producer and exporter of hothouse vegetables throughout North America. Update: Proceeds of the investment will facilitate the company's next stage of growth in Tehachapi, California. Avrio, a Canadian venture capital firm, invests in commercialization and growth-stage agriculture and food technology enterprises.
2 min read · 07 October 2013
Private equity firm KKR & Co LP is nearing a deal to acquire lifting equipment company Crosby Group LLC for around $1 billion, two people familiar with the matter said on Sunday, sister news service Reuters reported.
2 min read · 07 October 2013
