Kelso & Company has hired Barclays and Macquarie Group to find a buyer for event services company PSAV Presentation Services in a deal that could fetch as much as $1 billion, two people familiar with the matter told sister news service Reuters.
1 min read · 26 July 2013
Intelligent Mechatronic Systems Inc. has received $4 million from Toronto-based venture capital firm BEST Funds. According to the company, funding will be used for research and development. Based in Waterloo, Ontario, Intelligent Mechatronic Systems is a provider of technology that lets drivers access location-based information and online content while on the road.
2 min read · 26 July 2013
Michaels Stores, which filed last year to go public, plans to pay out an $800 million dividend to its shareholders, which include Bain Capital and The Blackstone Group.
2 min read · 26 July 2013
Euro Pacific Canada said Friday that it has added to its leadership ranks. The company has named Pierre-Yves Terrisse as vice president of institutional sales and Richard Ouellette as vice president of institutional trading. Both will be based in Euro Pacific’s Montreal office. Headquartered in Toronto, with offices in Montreal, Vancouver and Tokyo, Japan, Euro Pacific Canada Inc. is a Canadian registered brokerage firm.
2 min read · 26 July 2013
U.S. auto lender Ally Financial Inc is planning an initial public offering that could raise $2 billion to $4 billion as soon as early next year, sources familiar with the situation told sister news service Reuters.
4 min read · 25 July 2013
Toronto-based Alarmforce Industries Industries (TSX: AF), a provider of security alarm monitoring, emergency response monitoring, video surveillance and related services, has terminated the employment of Joel Matlin as president and CEO, following a strategic review. CFO Anthony Pizzonia, will take on Matlin's responsibilities while the company searches for a "suitable successor." Canadian private equity firm Callisto Capital bought a stake in AlarmForce in 2010.
2 min read · 25 July 2013
Cansel Inc., a provider of software, hardware and services to engineering, surveying, construction and other industries, has bought Robert Steltman Inc., a Toronto-based developer of software productivity tools for roads, sites, surveys, pipes and river channels. Financial terms of the transaction were not published. The Vancouver-based Cansel is a portfolio company of Canadian private equity firm Roynat Equity Partners.
2 min read · 25 July 2013
According to a report by CB Insights, over 140 American seed-stage or angel-backed companies have been acquired since 2012. The report observes that the lion's share of acquisitions, made by such technology giants as Saleforce and Yahoo, have involved Internet and mobile enterprises, and may reduce the number of startup "orphans" in these sectors. It also indicates that takeovers may be the only route available to companies that are running out of cash and finding themselves unable to raise a Series A follow-on financing round.
1 min read · 25 July 2013
Clarke Inc., (TSX: CKI), a Canadian investment firm which focuses on undervalued businesses, has acquired additional shares in Royal Host Inc. (TSX: RYL), a diversified hospitality company based in Halifax, Nova Scotia. Clarke also announced an increased investment in the company in April. Combined securities held by the firm represent, on a converted basis, 42.83% of Royal Host's total common shares.
3 min read · 25 July 2013
Canadian private equity firm Fulcrum Capital Partners provided mezzanine financing to assist with the recent acquisition of the gas and electricity business of Planet Energy Corp. Financial terms of the transaction were not disclosed. The company's new management team is led by Nino Silvestri and Stephen Plummer. Based in Mississauga, Ontario, Planet Energy is an energy retailer serving residential and commercial customers in Canada and the United States.
1 min read · 25 July 2013
