U.S. private equity firm Element Partners, a provider of growth capital to industrial technology companies, has made an undisclosed investment in Haywood Gordon Ltd., a designer, manufacturer and distributor of mixers, pumps, and engineered systems for challenging fluid handling applications. The Toronto-based Haywood Gordon, which was founded in 1952, will serve as a platform company for further acquisitions of pump and mixer manufacturers focused on abrasive applications.
3 min read · 18 September 2013
U.S. mid-market private equity firm Hammond Kennedy Whitney & Co. (HKW) has closed on a recapitalization of Specialized Tech Inc. With headquarters in Calgary, Specialized Tech provides high pressure sand recovery services to the oil and gas industry. The company was founded in 2001. In December 2012, HKW also completed a recapitalization transaction involving Brantford, Ont.-based Brant Screen Craft Inc., a specialist in the printing of commercial signs and displays.
2 min read · 18 September 2013
BDC Venture Capital, the investment arm of the Business Development Bank of Canada, has allocated $135 million in new capital to direct investments in innovative healthcare companies. That brings BDC's total direct commitment to the sector to $270 million. BDC Venture Capital Healthcare Fund will continue to spearhead this activity, investing in Canadian companies in such fields as innovative therapeutics and medical technology, diagnostics, health IT, mobile technologies and services, as well as robotics and automation. Life sciences companies backed by the fund's team include Cytochroma, ViroChem, OncoGeneX, Gemin X and Tekmira.
3 min read · 18 September 2013
A euro-denominated tranche totalling around 500 million euros ($667.45 million) is being considered on computer maker Dell’s $5.5 billion loanbacking the company’s $25 billion buyout by founder and CEO Michael Dell and private equity firm Silver Lake Partners, banking sources said on Wednesday, sister news service Reuters Loan Pricing Corp reported.
1 min read · 18 September 2013
U.S. regulators are stepping up their scrutiny of the private securities market in anticipation of the lifting on Monday of an 80-year-old ban on advertising by hedge funds to investors, sister news service Reuters reported.
3 min read · 17 September 2013
Canadian private equity firm Onex Corp is preparing to sell The Warranty Group, a provider of extended warranty contracts, which is expected to fetch more than $1 billion, two people familiar with the matter said this week, Reuters reported.
1 min read · 17 September 2013
A buyout firm with a record of taking troubled retailers private disclosed on Tuesday that an affiliate had taken an 8 percent stake in Aeropostale Inc, sending the struggling teen apparel retailer’s shares up as much 19.5 percent, sister news service Reuters reported.
1 min read · 17 September 2013
Eagle Creek Renewable Energy said Tuesday that it has closed up to US$100 million in financing from Power Energy Eagle Creek and Macquarie Funds Management. According to Eagle Creek, the capital will be used for acquisitions, development projects and growth. Evercore Partners advised Eagle Creek in the transaction. Headquartered in Morristown, New Jersey, Eagle Creek, which was seeded by Hudson Clean Energy Partners, is the owner, operator and developer of hydroelectric power projects. Update: Power Energy Eagle Creek is a joint venture between Power Energy Corp, a wholly owned subsidiary of Power Corp of Canada, and Claridge Inc.
2 min read · 17 September 2013
Laval, Québec-based biopharmaceutical company ProMetic Life Sciences Inc. (TSX: PLI) has secured a long-term loan in the amount of $10 million from Canadian venture capital firm Thomvest Seed Capital. The company will use part of the proceeds of the investment to commission its cGMP plasma facility and enable the manufacture of plasma-derived orphan drugs starting in the fourth quarter of 2013. Founded in 1994, ProMetic has R&D and manufacturing facilities and business development activities in North America, Europe and Asia.
5 min read · 17 September 2013
The previously announced sale of Toronto-based enterprise mobile healthcare platform Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF) to IMS Health Inc. has been completed. Shareholders approved the sale of substantially all of the company's intellectual property, software, customer contracts and other assets for US.3.5 million on September 11. IMS Health, a Danbury, Conn.-based provider of healthcare data, services and technology, was acquired for US$5.9 billion by TPG Capital, Canada Pension Plan Investment Board and Leonard Green & Partners in 2010.
3 min read · 17 September 2013
