The Canada Pension Plan Investment Board (CPPIB), one of the world's biggest deal-makers, reported a small quarterly investment loss as declines in equity and fixed income markets offset gains in other investments, Reuters reported. CPPIB's net assets stood at $268.6 billion at the end of June 30.
1 min read · 14 August 2015
Aberdeen International Inc has agreed to sell some of its public and private holdings to an affiliate of U.S. private equity firm Landmark Partners. The approximate price of the deal, which is expected to close on or before August 31st, is $11.8 million. At the close, Aberdeen will receive about $8.1 million in gross proceeds. Included in the transaction are shares of Tahoe Resources Inc, a Canadian mining company with interests in Central and South America. Sixpoint Partners LLC is advising Aberdeen on the sale.
5 min read · 14 August 2015
U.S. private equity firm Crestview Partners stands to make a bundle on this week’s sale of Canadian auto parts maker Stackpole International, according to a source with knowledge of the matter. Hong Kong’s Johnson Electric Holdings announced that it will pay up to $867 million for Stackpole, which will give Crestview a more than 30 percent internal rate of return, the source said.
2 min read · 14 August 2015
With a sinking oil price driving Canadian energy shares to decade lows, activist hedge funds are pushing hard for companies to look at mergers and acquisitions or asset sales to curb costs and help the funds reduce their own investment losses, Reuters reported. U.S. hedge funds FrontFour Capital, Orange Capital and Livermore Partners, as well as Canada's West Face Capital, have been the most active of late.
3 min read · 13 August 2015
Crestview Partners stands to make a bundle on the sale of Canadian auto parts maker Stackpole International, according to a source with knowledge of the matter.
2 min read · 13 August 2015
Aqua Terra Water Management LP, a Canadian portfolio investment of U.S. private equity firm Bregal Partners, has bought Advance Hydrocarbon Corp, which operates a saltwater disposal and water-hauling business in Central Texas. No financial terms were not disclosed. The acquisition enhances the company's presence in unconventional plays in the United States and Canada, Bregal Partners said. Four Winds Energy Services Ltd is the Grande Prairie, Alberta-based subsidiary of Aqua Terra.
3 min read · 13 August 2015
Manac Inc (TSX: MA), a Canadian manufacturer of specialty trailers, has agreed to be bought by an investor group made up of Marcel Dutil, the company's founder, the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Investissement Québec and Fonds Manufacturier Québécois. The transaction values Manac at $186 million, including debt. The take-private acquisition follows a strategic review process launched in March. It will be put before shareholders by early October. U.S. private equity firm American Industrial Partners and other shareholders, including two members of the investor group, have agreed to vote their shares in favour. Founded in 1966, the company is based in Saint Georges, Québec.
8 min read · 13 August 2015
Connor, Clark & Lunn GVest Traditional Infrastructure LP, a partnership between Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and Gracorp Capital Ltd, recently made an equity investment in the Regina Bypass Project. The project is a $1.88 billion initiative to design, build, finance, operate and maintain a four-lane highway in the immediate vicinity of Regina, Saskatchewan. The partnership is part of Regina Bypass Partners, a joint venture that includes affiliates of Graham Group Ltd, VINCI Construction SAS and Parsons Corp. Construction of the project is expected to be completed by late 2019.
3 min read · 12 August 2015
Kraft Heinz Co said it will eliminate 2,500 jobs in the United States and Canada, Reuters reported. Heinz, backed by Berkshire Hathaway Inc and Brazilian private equity firm 3G Capital, known as an aggressive cost-cutter, combined with Kraft in March in a US$46 billion deal that created the third-largest North American food company.
1 min read · 12 August 2015
The private equity group of Brookfield Asset Management has completed its acquisition of US$150 million of convertible preferred shares of GrafTech International Ltd (NYSE: GTI), a U.S.-based producer of graphite material solutions for various industries and end markets, including steel manufacturing. The investment gives Brookfield a minority interest in the company, as well as two seats on the board of directors, one of which will be filled by Managing Partner Peter Gordon. As reported by peHUB Canada earlier this year, Brookfield has also proposed to buy all of GrafTech’s outstanding common shares. The US$840 million offer will expire this week.
7 min read · 12 August 2015
