U.S. private equity firm Apollo Global Management LLC is considering seeking approval to raise the limit on its new flagship fund following investor interest, Bloomberg reported, citing two people with knowledge of the matter, sister news service Reuters reported.
1 min read · 07 October 2013
French private-equity firm Ardian, recently spun off from insurer AXA, expects to make two more deals before the end of the year after closing its latest buyout fund, one of its executives told sister news service Reuters.
2 min read · 04 October 2013
OTI Canada Group, a Montréal-based company specializing in petroleum testing and inspection, has been acquired by Bureau Veritas, a global provider of compliance and certification services in the areas of quality, health and safety, the environment and social responsibility. Financial terms of the deal were not disclosed. Based in Neuilly-sur-Seine, France, Bureau Veritas is majority owned by French private equity firm Wendel.
2 min read · 04 October 2013
Mississauga, Ontario-based Match Marketing Group (Match MG), a brand engagement and shopper marketing agency, has purchased for an undisclosed amount retail merchandiser Convergence Marketing Inc of Baltimore, Maryland. The acquisition of Convergence is the company's eighth in the past two years. Businesses bought in recent months include Marketing Drive, Marketing Weld Digital and SVM. Match MG is a portfolio company of Beringer Capital, a Canadian private equity firm focused on the marketing services and specialty media industry.
3 min read · 04 October 2013
Digital commerce specialist Elastic Path Software Inc has announced the appointments of Steve Munford, non-executive chairman at Sophos Inc, and Mike Satterfield, partner at Canadian venture capital firm Yaletown Venture Partners, to the company's board of directors. Founded in 2000, the Vancouver-based Elastic Path has since mid-2013 raised a total of $12 million of growth equity and debt from its investors Yaletown and specialty finance firm Wellington Financial.
4 min read · 04 October 2013
Cequence Energy Inc (TSX: CQE), a Calgary-based oil and gas exploration and development company, has arranged to receive $60 million in unsecured notes from the credit investment arm of Canada Pension Plan Investment Board (CPPIB). This funding, which may be supplemented by another $60 million in future, will be used to accelerate development of the company's Simonette project in Western Canada. Cequence, a portfolio company of Canadian private equity firms ARC Financial Corp, JOG Capital and KERN Partners, has as part of the transaction granted CPPIB warrants to purchase common shares.
9 min read · 04 October 2013
Ontario Teachers' Pension Plan (OTPP) has bought a 2 percent stake in Europe's biggest online fashion retailer Zalando, continuing a push into e-commerce investment for the fund. Berlin-based Zalando, which has brought on board several new investors over the last year as it seeks to fund expansion, said on Wednesday OTPP took the stake as part of a 4 percent capital increase at the group. The company's other investors include Swedish investment firm Kinnevik, which owned a 37 percent stake before Wednesday's news, early investors European Founders Fund, retail group Tengelmann and German venture capital firm Holtzbrinck.
2 min read · 04 October 2013
The professional services sector of the consumer products and services industry accounted for the largest slice (63 percent) of transactions by U.S. sponsors by deal volume over the past ten years.
1 min read · 04 October 2013
Ikaria Inc, a private equity and venture capital-backed company whose products are focused on critically ill patients, is exploring a sale that it hopes could value it at more than $2 billion, three people familiar with the matter said, sister news service Reuters reported.
2 min read · 04 October 2013
U.S. web-focused software provider Pivotal has acquired Toronto-based Xtreme Labs, a company focused on accelerating mobile software development for enterprise customers. The all-cash acquisition was not disclosed, however, All Things Digital reports the price tag as totaling US$65 million. Xtreme Labs, which was founded in 2007 by Amar Varma and Sundeep Madra, was backed by US$20 million in angel investment in 2012. The San Mateo, Calif.-based Pivotal earlier this year received US$105 million in funding from General Electric.
4 min read · 03 October 2013
