Nobody undergoing an operation chooses a surgeon with no experience, and no business owner sells to a buyer who’s clueless about their industry.
3 min read · 10 August 2015
Cover Story: Lack of transparency frustrates state officials
6 min read · 10 August 2015
Canadian alternative assets manager Brookfield Asset Management reported that its private funds platform raised US$8 billion in the first half of the year. It said the raise accounted for 60 percent of the original target. As reported by peHUB Canada in January, the firm is currently marketing its fourth mid-market private equity fund, Brookfield Capital Partners IV LP, which is said to be targeting US$3.5 billion in total commitments. Brookfield's private equity group has been active in a number of deals of late, including Armtec Infrastructure Inc, GrafTech International Ltd, North American Palladium Ltd and Quadrant Energy Pty Ltd, previously an affiliate of Apache Corp.
8 min read · 07 August 2015
Canadian energy services company Kineticor Resource Corp has secured $80 million in equity financing. The investment was made by Harbert Power, the power assets investment arm of U.S.-based Harbert Management Corp. Kineticor, which has its headquarters in Calgary, provides customized on-site power generation solutions to the resources sector. It said the funding received from Harbert will be used to support growth across Canada and to advance current and future projects. The company was founded in March 2013.
2 min read · 07 August 2015
U.S. private equity firm BDT Capital Partners has agreed to acquire a majority stake in Alliance Laundry Systems LLC from the Ontario Teachers' Pension Plan. No financial terms were disclosed. After the deal closes later this year, Ontario Teachers will retain a minority stake in the company. Morgan Stanley & Co LLC, BMO Capital Markets Corp and Bank of America NA provided financial advice to Alliance Laundry on the transaction. Based in Ripon, Wisconsin, Alliance Laundry is a maker of commercial laundry equipment. Teachers’ Private Capital, the private investment arm of Ontario Teachers, bought it for US$450 million in January 2005.
4 min read · 07 August 2015
U.S. private equity firm Blackstone Group has joined forces with buyout fund Hellman & Friedman to bid for British payments processing company Worldpay, two sources familiar with the matter told Reuters news service on Thursday, August 6.
2 min read · 07 August 2015
Sienna Sky Jewelry, which was acquired last year by Succession Capital, has bought Lemon Tree Jewelry, a manufacturer and distributor of fashion jewelry with headquarters in Longmont, Colorado. The value of the deal was not disclosed. Sienna Sky, which is also based in Longmont, said the acquisition is synergistic as the businesses share similar sales channels, suppliers, and design esthetic. Succession Capital is the U.S. subsidiary of Canadian private equity firm Lynx Equity. Its investments currently account for over 35 percent of Lynx's portfolio.
3 min read · 06 August 2015
Callinex Mines Inc (TSX-V: CNX), a Canadian mineral exploration company, has completed its previously-announced private placement, raising $3.4 million. As a result, U.S. mining-focused private equity firm Resource Capital Funds (RCF) has assumed a 17.9 percent ownership stake in the company. The Vancouver-based Callinex said it will use the partnership with RCF to advance discovery and development of copper and zinc-rich deposits in Flin Flon, Manitoba's mining district.
3 min read · 06 August 2015
SGS International Inc, a U.S. marketing services company rooted in digital imaging and design-to-print graphic services, has acquired Traffik Inc, a marketing services agency based in Toronto. The financial details of the transaction were not disclosed. SGS said the acquisition will "significantly enhance both companies' ability to serve clients in a creative, efficient, and scalable fashion globally." Headquartered in Louisville, Kentucky, SGS is a portfolio company of Canadian private equity firm Onex Corp. Onex bought the business in October 2012 for US$813 million.
3 min read · 06 August 2015
Planet Fitness Inc’s shares fell as much as 14 percent in their market debut, valuing the fitness club operator at $1.36 billion.
2 min read · 06 August 2015
