Calgary and Oklahoma City-based Lighthouse Oil & Gas Ltd. said Wednesday that it has completed its buy of oil and gas properties in western Oklahoma. Harding|Shelton Inc. was one of the sellers. No financial terms were disclosed. U.S. real asset investment firm Talara Capital Management and private equity firm The Energy & Minerals Group helped finance the transaction with equity commitments.
2 min read · 11 September 2013
DW Healthcare Partners, a healthcare-focused private equity firm with offices in Toronto and Park City, Utah, has sold St. Andrews Acquisitions Inc. to New York private equity firm Bregal Partners. No financial terms were disclosed. Cain Brothers advised St. Andrews in the transaction. Based in Tacoma, Washington, St. Andrews is a provider of residential and behavioral services to adults and children with intellectual and developmental disabilities. Update: DWHP purchased a majority interest in the company in 2007.
2 min read · 11 September 2013
Calgary-based TORC Oil & Gas Ltd. (TSX:TOG) has completed its buy of light oil producing assets located in southeast Saskatchewan. In conjunction with this transaction, the company secured a cornerstone equity investment totaling $170 million from Canada Pension Plan Investment Board, along with additional funding. Established in 2010, TORC is focused on the acquisition, exploration, development and production of crude oil and natural gas assets.
7 min read · 10 September 2013
Canadian enterprise software provider Enghouse Systems Ltd. has acquired Satsop, Washington-based Safeharbor Knowledge Solutions for an undisclosed price from U.S. private equity firm Shackleton Equity Partners. Safeharbor, a provider of knowledge management SaaS applications and solutions as well as contact center services, was bought by Shackleton in 2009. The company was previously backed by venture investors, including Covestco, OVP Venture Partners, Washington Mutual Bank and Wheatley Partners.
2 min read · 10 September 2013
Norway's Siem Offshore AS, a global supply and subsea shipping company, has acquired a 50 percent ownership interest in Secunda Canada LP, a Dartmouth, Nova Scotia-based operator of harsh-weather offshore support vessels servicing the oil and gas industry. The acquisition price was $16.25 million. The seller in the transaction was Canadian mid-market buyout firm Birch Hill Equity Partners, which last year established Secunda Canada following its purchase of marine services assets from Houston, Texas-based McDermott International Inc.
3 min read · 10 September 2013
San Francisco-based AppDirect Inc., a cloud service marketplace company, has raised US$9 million in Series B funding. The round was led by Canadian venture capital firm iNovia Capital, which has invested in AppDirect since 2012. The company's other investors include Stingray Digital Group, a Montréal-based provider of multiplatform music services that is backed by Novacap and Telesystem. Concurrent with the funding news, AppDirect announced its buy of Boulder, Colorado-based Standing Cloud Inc., a provider of cloud management services backed by Foundry Group.
4 min read · 10 September 2013
1 min read · 10 September 2013
Toronto-based private equity firm TorQuest Partners has closed its third fund, TorQuest Partners Fund III, raising $535 million in total. Backed by Canadian and international pension funds, banks and family offices, Fund III will target investments ranging from $15 million to over $100 million in mid-market companies based in Canada and the U.S. The firm's senior managing partner Brent Belzberg said the "success of this fundraising is a strong validation of our team and historical track record." Last month, TorQuest sold its portfolio company Associated Brands GP Corp., a manufacturer and supplier of private-label dry blend food and household products, to TreeHouse Foods Inc. (NYSE: THS) of Oakbrook, Ill., for $187 million.
3 min read · 10 September 2013
Canadian aerospace and transportation company Bombardier Inc. has agreed to sell its fractional jet ownership division Flexjet to an investor group led by U.S. aviation-focused private equity firm Directional Aviation Capital. The transaction, which is valued at US$185 million, is expected to be completed before the end of the year. It was further announced that, with support from its new investors, the Dallas, Texas-based Flexjet is placing an order of approximately US$5.2 billion for up to 245 Bombardier jets.
4 min read · 09 September 2013
Renewable power producer Pattern Energy Group LP, which has its U.S. headquarters in San Francisco and its Canadian office in Toronto, has launched an initial public offering of 16,000,000 shares at a price of between US$19 and US$21 per share. The company expects to receive net proceeds of approximately US$290 million. Pattern Energy owns and operates wind power projects, and has an interest in eight projects located in the United States, Canada and Chile. With the backing of U.S. private equity firm Riverstone Holdings, the business was formed in 2009 from the wind development portfolio of Babcock & Brown's North American Energy Group.
3 min read · 09 September 2013
