The Sentient Group, a natural resources-focused private equity firm based in the Cayman Islands and with an office in Montréal, has made a minority investment totaling $838,000 in Boucherville, Québec-based Strateco Resources Inc., a uranium mining company with exploration projects in Northern Quebec. Strateco has since 2002 been been a recipient of private equity investment, including from Sentient Group and the Fonds de solidarité des travailleurs du Québec FTQ.
2 min read · 13 August 2013
Chrysalix Energy Venture Capital has named Jean-Michel Gires as a venture partner. Prior to joining Chrysalix, Gires, who is based in the firm's Calgary office, was the president and CEO of Total E & P Canada Ltd. Headquartered in Vancouver, British Columbia, Chrysalix is a venture capital firm that focuses on investments in early-stage energy and environmental technology.
3 min read · 13 August 2013
Neil Goodman, CEO of Dundee Corp., has named his son Jonathan as deputy chairman and chief operating officer. Also, Jonathan has been appointed president and CEO of Dundee Capital Markets, a subsidiary of Dundee. Based in Toronto, Dundee is a holding company that includes among its subsidiaries, Goodman & Company and Investment Counsel. Update: The firm's core competencies include private equity investment in real estate and infrastructure, energy, resources and agriculture.
2 min read · 13 August 2013
Bilfinger Berger Global Infrastructure SICAV (BBGI) has acquired a 50% equity and loan note interest in Kelowna Vernon Hospitals in British Columbia, and a 100% equity and loan note interest in North East Stoney Trail in Alberta. Both projects are long-term PPP concession contracts. The transaction, which is expected to be completed in the third quarter of 2013, is valued at $41.3 million. BBGI is an infrastructure investment firm incorporated in Luxembourg, with portfolio assets in Europe, Australia and Canada.
2 min read · 12 August 2013
Stephane Gonthier will become the president and CEO of U.S.-based discount retailer 99 Cents Only Stores, a portfolio company of private equity firm Ares Management and Canada Pension Plan Investment Board (CPPIB). Gonthier was previously COO of Canadian retailer Dollarama Inc. (TSX: DOL), a role he held during the company's ownership by Bain Capital, and subsequent initial public offering in 2009. Ares and CPPIB acquired 99 Cents Only Stores for US$1.6 billion in 2012.
4 min read · 12 August 2013
Gestion Jerico Inc., a majority-owned portfolio company of Clarke Inc., has acquired 90% of Pro-Par Group, a Sherbrooke, Québec-based maker of storage tanks, dispensers and transport units for the Canadian propane industry. Financial terms weren't announced. Pro-Par's management will continue to own the remaining 10% of the company. The Halifax, Nova Scotia-based Clarke is an investor in private and public businesses.
3 min read · 12 August 2013
Normand Provost, executive vice-president of private equity at Canadian pension fund manager the Caisse de dépôt et placement du Québec, has announced his retirement after 33 years of service. Provost will continue in his current role until a successor is appointed in 2014. Thereafter, he will remain with the Caisse as a strategic adviser to president and CEO Michael Sabia. The Caisse reported that its post-2009 private equity investments generated a 18.3% annualized return at the end of 2012.
3 min read · 12 August 2013
FGL Sports Ltd., a subsidiary of Toronto-based Canadian Tire Corp., has completed its previously announced acquisition of Laval, Québec-based Pro Hockey Life Sporting Goods Inc. for $85 million. The company will now operate as a banner under FGL Sports. Pro Hockey Life, which owns a chain of specialty hockey retail stores located across Canada, was backed by Canadian private equity firms Champlain Financial Corp., Fondaction (CSN) and other investors.
5 min read · 12 August 2013
Mark Wiseman, president and CEO of Canada Pension Plan Investment Board (CPPIB) believes that North America has some of the best private equity deal opportunities at the present time, but also that investors are wrong to assume that global markets have returned to normal, writes Reuters. In an interview with Reuters, Wiseman said CPPIB was prepared to "walk away" if deal pricing "gets too aggressive." CPPIB reported assets rose to $188.9 billion in the first quarter of 2013.
3 min read · 12 August 2013
Vancouver-based social relationship platform HootSuite last week announced it had raised an astonishing US$165 million in a Series B financing round. The deal, which was led by Insight Venture Partners, with participation from Accel Partners and existing investor OMERS Ventures, is in every sense a Canadian record breaker. The deal is also an important milestone for OMERS Ventures, the investment arm of the Ontario Municipal Employees Retirement System.
5 min read · 12 August 2013
