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PE-Backed BRP Raises $262.3M from IPO

Valcourt, Québec-based Bombardier Recreational Products Inc. (BRP), which develops, manufactures and distributes power-sports vehicles, has completed its initial public offering of subordinate voting shares at a price of $21.50 per share, raising gross proceeds of around $262.3 million. The company's subordinate voting shares are listed on the Toronto Stock Exchange under the symbol "DOO". BRP was acquired for $960 million in 2003 by Bain Capital, the Caisse de dépôt et placement du Québec and members of the Bombardier family.

Keith Smith Joins Brookfield's Private Funds Group

oronto-based alternative assets manager Brookfield Asset Management Inc. has named Keith Smith as senior vice president in its Private Funds Group. Smith, who was previously president of GE Asset Management Canada, will be responsible for Brookfield's Canadian institutional investor clients. He replaces Eric Bonnor, who will now manage investor relations and fundraising for Brookfield's Brazilian investments.

Insignia Energy Agrees to Privatization by Brookfield

Calgary-based Insignia Energy Ltd., a publicly listed junior oil and gas exploration and development company, has agreed to be taken private by Canadian private equity firm Brookfield Capital Partners. Brookfield has been an investor int he company since 2008 and currently holds a majority position. The proposed transaction, which was announced earlier in May, is valued at approximately $87 million. The company's board of directors (with interested directors abstaining) has unanimously approved the deal, which will be considered by a special meeting of shareholders in mid-July.

LX Ventures Beefs Up Team with 3 Mobio Execs

Vancouver-based LX Ventures, a publicly traded business incubator, has made three additions to its management team. Patrick Audley was named vice president of technology; Mark Binns was named VP of marketing and Bernd Petak was named VP of operations. All three were previously executives for Mobio Technologies Inc., a developer of authentication technologies acquired in May by LX Ventures.