Brazilian miner Vale SA said on Wednesday it plans to sell stakes in its cargo transportation unit, VLI SA, totaling more than 60 percent in three separate deals that together could be worth about 4 billion reais. The stakes are to be sold to Canada-based Brookfield Asset Management, Japan's Mitsui Co Ltd and a Brazilian worker's fund.
2 min read · 19 September 2013
Tricon Capital Group, a Toronto-based private equity firm focused on real estate, has done an additional closing of US$135 million for its most recent U.S. distressed residential real estate fund, Tricon X LP. As a result, the institutionally-supplied fund's size now totals US$260 million. This closing, combined with the recently announced separate account, has increased the firm's capital managed to more than $1.5 billion.
3 min read · 19 September 2013
Calgary-based BlackSquare Inc, an e-commerce platform targeted to the global wine and spirits industry, has obtained $1.175 million in financing from Canadian private equity and investment management firm HorizonOne Asset Management. Concurrent with this news, BlackSquare announced the spin out as a stand-alone company of its subsidiary Wine Collective Inc, which operates a monthly wine club. The company's platform brand is Blackboxx, which will be the focus of its international growth plans.
3 min read · 19 September 2013
Triangle Capital Corp has invested $14 million of subordinated debt and equity in Specialized Tech Inc, a Calgary-based provider of high pressure sand recovery services to oil and gas producers. Specialized Tech was also this week the focus of a recapitalization transaction completed by U.S. private equity firm Hammond Kennedy Whitney & Co. Based in Raleigh, North Carolina, Triangle is a publicly-traded BDC that invests in established lower mid-market businesses.
3 min read · 19 September 2013
Montréal-based Modulis, a provider of turnkey VoIP services and solutions, has received $400,000 in financing from Business Development Bank of Canada, Investissement Québec and the National Bank. The funding is intended to help develop the company's cloud-computing VoIP telecommunications platform. Founded in 2006, Modulis has more than 10,000 users connected to its Asterisk-based infrastructure in North America and Europe.
2 min read · 19 September 2013
A new euro-denominated Term Loan B totaling at least 500 million euros has been added to the debt package backing the management buyout of Dell following reverse enquiry from investors, market sources said on Thursday, according to sister news services IFR and RLPC.
1 min read · 19 September 2013
Salt Lake City-based Mindshare Technologies has acquired Empathica. No financial terms were disclosed. Sorenson Capital and Peterson Partners financed part of the transaction, while Cascadia Capital advised Empathica. Headquartered in Mississauga, Ontario, Empathica, which was backed by U.S. growth equity investor JMI Equity, is a provider of customer experience management solutions. Update: JMI led a US$7 million Series A financing of the company in 2006.
3 min read · 19 September 2013
Real estate company Re/Max Holdings Inc said it expected its initial public offering to be priced at $19-$21 per share, raising as much as $210 million, sister news service Reuters reported.
1 min read · 19 September 2013
Euro Pacific Canada has named Adam Adamou as managing director of investment banking. Adamou, who is based in Euro Pacific’s Toronto office, previously served as president and CEO of Transitive Digital Media Corp. With offices in Montréal, Vancouver and Tokyo, Euro Pacific Canada is a Canadian registered brokerage firm.
2 min read · 19 September 2013
Toronto-based Integrated Asset Management Corp said Thursday that it has inked an agreement to sell BluMont Capital Corp to Arrow Capital Management. No financial terms were disclosed. The sale is expected to close in the last quarter of 2013. Origin Merchant Partners advised IAM in this transaction. Headquartered in Toronto, with offices in Montréal, Calgary and Vancouver, BluMont is a retail alternative assets firm. Update: With the sale, IAM intends to build on its core asset classes of real estate and private corporate debt.
3 min read · 19 September 2013
