JPMorgan Chase & Co said on June 14 that its private equity unit, One Equity Partners, will become independent, as the largest U.S. bank increases its focus on client businesses, sister news service Reuters reported.
2 min read · 14 June 2013
Vancouver-based Elastic Path Software Inc., a digital commerce company, has secured an $8 million debt facility from Canadian specialty finance firm Wellington Financial. The company, which has received private equity investments in past, will use the new proceeds to fund expansion of its market presence and accelerate innovation.
3 min read · 14 June 2013
Toronto-based OnX Enterprise Solutions Inc., a provider of enterprise data center solutions, has acquired for an undisclosed sum Worknet Inc., a managed services company located in Chicago, Illinois. OnX has combined its own managed services operations with those of Worknet to create a new North America-focused business unit, OnX Managed Services. OnX has been majority owned by U.S. private equity firm Marlin Equity Partners since 2011.
3 min read · 14 June 2013
Canadian retailer Hudson's Bay Co. (HBC) reported consolidated sales of $884 million in the first quarter of 2013, or growth of 4.2% year over year, which resulted from a 7.6% gain in HBC same-store sales. The company's board of directors also announced a shareholders dividend in the amount of $0.09375 per share. HBC was acquired by U.S. private equity firm NRDC Equity Partners in 2008, and went public last November, raising $365 million.
10 min read · 14 June 2013
U.S. private equity firm Peterson Partners has finalized its previously-announced deal to privatize Toronto-based Angoss Software Corp., acquiring all of the company's shares not owned by Angoss president and CEO Martin Galligan or his associates for $0.525 per share, or $8.4 million. Angoss delivers predictive analytics to businesses.
3 min read · 14 June 2013
Toronto's Penfund, a provider of junior capital to North American mid-market companies, has completed an undisclosed minority equity investment in Wakefield Canada Holdings ULC. This is Penfund's second investment in the Toronto-based company, a distributor of Castrol-branded motor oils in Canada. The firm also backed Wakefield in 2005. In 2012, Penfund closed its fourth partnership, Penfund Capital Fund IV, raising $460 million.
3 min read · 14 June 2013
Toronto-based Entertainment One Ltd., which specializes in the global acquisition, production and distribution of film and television content, has agreed to acquire brand and licensing agency Art Impressions Inc., based in Calabasas, California. Financial details of the transaction were not released. Entertainment One, which bought Montréal's Alliance Films Inc. earlier this year, has been owned by British private equity firm Marwyn Invesment Management since 2007.
2 min read · 14 June 2013
The Norweigian partner in Hansen Protection Canada Ltd., Hansen Protection AS, which last year established the Canadian operation in a joint venture with Darmouth Nova Scotia-based Helly Hansen Canada Ltd., has been sold for an undisclosed price by Montagu Private Equity. The buyer was another European private equity firm, IK Investment Partners. Hansen Protection Canada specializes in the development of survival suits. Teachers' Private Capital took a majority position in Norway's Helly Hansen AS in 2012.
5 min read · 12 June 2013
Ottawa, Ontario-based LPI Level Platforms Inc., a remote monitoring and management software company, has been acquired by AVG Technologies N.V., a security software provider which has its worldwide headquarters in The Netherlands. The financial terms of the deal were not disclosed. LPI Level Platforms received startup and growth financing from Canadian angel investors and venture capital firms. AVG has been backed by U.S. private equity firm TA Associates since 2009
7 min read · 12 June 2013
Toronto-based North American Palladium Ltd. (NAP), a precious metals producer focused on its Lac des Iles mine in Ontario, has obtained a US$130 million senior secured term loan from Brookfield Capital Partners, the private equity group of Brookfield Asset Management. NAP will use the proceeds of the debt financing, which matures in 2017, to repay senior secured notes, fund capital expenditures related to expanding the company's Ontario mining project, and for general business purposes.
5 min read · 12 June 2013
