One Earth Farms Corp. announced this week that it has acquired Toronto-based Sweetpea Baby Food Ltd., a provider of frozen baby food and baby snacks, for an undisclosed sum. One Earth Farms, which is based in Saskatoon, Saskatchewan, is a subsidiary of Sprott Resource Corp., which has invested in the company in partnership with First Nations since 2009. The company has also been backed by CAPE Fund, a Canadian private equity firm focused on investing in aboriginal businesses and entrepreneurs.
3 min read · 12 September 2013
Canadian financial services firm Sun Life Financial has advanced its second of two long-term senior loans totaling $160 million to Enwave Energy Corp., a Toronto-based provider of cooling and heating services, and a portfolio company of Brookfield Asset Management. The $75 million second tranche of the facility was provided in July. This funding follows the first tranche of $85 million which was advanced in 2010. Brookfield bought Enwave from Borealis Infrastructure, the infrastructure investment arm of OMERS, and the City of Toronto for $480 million in October 2012.
4 min read · 12 September 2013
Edmonton, Alberta-based NC Services Group Ltd. (NCSG), a crane and heavy haul company, has agreed to acquire all of the shares of S.S. Pevach Ventures Ltd., which operates as Scorpion Industries, a supplier of boom truck and oilfield services in Western Canada. Financial terms of the deal were not published. NCSG, formerly known as Northern Crane Services, was purchased in 2006 by U.S. private equity firm NCA Partners for $60 million. Since that time, the company reports having done six acquisitions.
3 min read · 12 September 2013
Edmonton, Alberta-based natural health company Afinix Life Sciences Inc. has been launched with a $1.5 million investment from Canadian early-stage venture capital firm AVAC. The company, which has been supported by Canadian and locally-based research and innovation organizations and industrial incubators, has created a brand called Afinity, which is focused on developing and bringing premium, evidence-based natural health products to market.
5 min read · 12 September 2013
U.S. forest products company Louisiana-Pacific Corp. (NYSE: LPX) has agreed to buy Ainsworth Lumber Co. Ltd., a Vancouver-based manufacturer of homebuilding products, in a deal valued at approximately US$1.1 billion, including debt. Brookfield Capital Partners, the private equity division of Brookfield Asset Management, which own 54% of the company, has agreed to vote in favour of the sale. Brookfield invested in Ainsworth's restructuring in 2008. Earlier this year, the firm reported combined proceeds of US$3.7 billion from the sales of Longview Timber LLC and Longview Fibre Paper and Packaging Inc.
10 min read · 12 September 2013
Elliot Royce, AlpInvest Partners’s co-head of the fund investments group, is resigning, according to a letter obtained by sister website peHub.
1 min read · 12 September 2013
Hilton Worldwide Inc filed for an initial public offering of up to $1.25 billion as owner Blackstone Group LP seeks to take advantage of a reviving hotel industry, Reuters reported.
2 min read · 12 September 2013
Platte River Equity said Thursday that it has named Kris Whalen as managing director. Previously, Whalen worked at Vestar Capital Partners where he served as a managing director and co-head of diversified industries. Based in Denver, Colorado, Platte River Equity is a lower middle-market private equity firm. Update: Whalen is originally from Toronto, Ontario.
2 min read · 12 September 2013
TA Associates made it official. The private equity firm said Wednesday it acquired a majority stake in BluePay Processing. Financial terms of the deal, which closed Aug. 30, were not announced. Goldman Sachs was one of the sellers, according to the statement.
2 min read · 11 September 2013
EnerTech Capital has raised just under $120 million for its fourth venture fund. Investors in the fund, which is named EnerTech Capital Partners IV LP, include Alberta Enterprise, Export Development Canada, Teralys Capital, Business Development Bank of Canada, Southern UTE and the State of Maryland. The partnership will be used by the firm to continue to make investments in the energy technologies sector. Update: One of Enertech's 2013 investments was Distech Controls Inc., a Brossard, Québec-based developer of building energy management solutions. The firm has offices in Toronto, Philadelphia, Montréal and Calgary.
3 min read · 11 September 2013
