The Blackstone Group LP’s Brixmor Property Group Inc, owner of neighborhood shopping centers, filed with federal regulators on July 17 for an initial public offering in what will likely be one of the largest real estate IPOs in years, sister news service Reuters reported.
2 min read · 18 July 2013
Brookfield Global Infrastructure Securities Income Fund has raised C$325 million for its initial public offering. The stock is priced at C$10 per share for 32.5 million units and is listed under the symbol BGI.UN on the Toronto Stock Exchange. The fund, which is run by Brookfield Investment Management, focuses on securities of publicly-traded global infrastructure companies that own and operate infrastructure assets. RBC Capital Markets and CIBC led the syndicate of agents for this offering. Based in Toronto, Brookfield has offices and investment teams in New York, Chicago, Boston, London and elsewhere around the world.
3 min read · 18 July 2013
Canadian venture capital firm BEST Funds has invested C$3 million (US$2.9 million) in AcuityAds Inc. AcuityAds, with offices in Toronto and New York, is an advertising technology company. Investment proceeds of the debt-deal will be used by the company as growth capital and to accelerate sales.
2 min read · 18 July 2013
Men’s dress shoe company Allen Edmonds is exploring a sale of the company, two sources familiar with the matter told sister news service Reuters.
1 min read · 18 July 2013
Only one-sixth of Canadian businesses adopt an innovation strategy that focuses on competing in global markets, according to a survey done by the The Conference Board of Canada. This happens despite the fact that companies which do operate globally earn between 10 and 30 per cent more net income. The survey also found that internal cash is the primary source of innovation funding for most companies, ahead of funding from governments, private equity firms and banks.
4 min read · 17 July 2013
U.K.-based water company Severn Trent Plc incurred legal and other costs of approximately £19 million (US$29 million) in responding to repeated acquisition offers from LongRiver Partners, an investor group led by Borealis Infrastructure Management, the investment arm of Ontario Municipal Employees Retirement System, and including Kuwait Investment Office and Universities Superannuation Scheme. The group's third proposal before the June 2013 deadline was estimated to value US$8.2 billion.
4 min read · 17 July 2013
U.K.-based Reservoir Group, which owns Omega Well Monitoring Canada, has been bought by Australian testing services provider ALS Ltd. for approximately US$533 million. The seller is U.S. private equity firm SCF Partners, which has backed Reservoir since 2007. The Calgary-based Omega, which five years ago became the founding member of Reservoir's specialty wells services division, earlier this month acquired Planet Services Inc., also of Calgary.
5 min read · 17 July 2013
The New York financial regulator is examining whether to overturn insurer Athene Holding Ltd’s bid for the U.S. annuity business of Britain’s Aviva plc, part of its recent crackdown on private equity insurance deals, the Wall Street Journal reported. Athene is funded by an affiliate of private equity firm Apollo Global Management LLC.
1 min read · 17 July 2013
Gemoscan Canada Inc., a Toronto-based company focused on food sensitivity and dietary management solutions for consumers, has made an offer to acquire Physiomed Kennedy Inc., which operates a paramedical clinic in Toronto, Ontario. Financing of the transaction will be facilitated by Canadian merchant banking firm NorthStar Bancorp., which agreed in March to provide the company with up to $10 million in debt financing for strategic acquisitions of retail healthcare providers.
5 min read · 17 July 2013
Calgary, Alberta-based Alaris Royalty Corp. (TSX:AD), a provider of alternative financing to private companies in exchange for royalties or distributions, has completed an offering of common shares on a bought deal basis. The equity financing totaled $105.9 million. To date in 2013, Alaris reports that it has contributed over $124 million to three new company partners.
7 min read · 17 July 2013
