Warburg Pincus LLC has secured $11.2 billion for its latest fund, one of the largest private equity funds raised since the global financial crisis, underscoring investor demand for high-return offerings at a time of record-low interest rates.
2 min read · 10 May 2013
These last five years have been something of a Golden Age for private equity-backed IPOs.
1 min read · 10 May 2013
Montréal's Human Equation Inc., a digital marketing company, has received $1 million in funding from the Business Development Bank of Canada, Societe de developpement economique Ville-Marie and Finalta Capital. Proceeds will facilitate the company's growth, including through strategic acquisitions, and commercialization of its cyber-investigation platform Echo Alpha.
2 min read · 09 May 2013
Toronto-based alternative assets manager Sprott Inc. will buy all of the shares of managed company Sprott Resource Lending Corp. (SRL). Investors in SRL, which finances mining and oil and gas companies, will receive 0.5 of a Sprott common share and $0.15 in cash for each SRL share held. Sprott estimates the deal will generate more than $220 million in capital for new initiatives, and allow it to focus on a new lending partnership.
9 min read · 09 May 2013
San Mateo, California-based NetSuite Inc. has acquired OrderMotion Inc., a Boston, Massachusetts-based company focused on order management solutions for businesses. The financial details of the transaction were not published. OrderMotion has been a portfolio company of Canadian venture capital firm MMV Capital Partners since 2007.
4 min read · 09 May 2013
Vaudreuil-Dorion, Québec-based Armco Industries Inc., a distributor of industrial packaging and accessories, has been acquired for an undisclosed price by Germany's industrial packaging specialist Mauser Group. Armco's facilities will be organized under RTQ-NCG, the Canadian reconditioning division of the German company. Mauser was acquired in 2007 by Dubai International Capital Private Equity, in a transaction which valued the company at €850 million.
3 min read · 09 May 2013
Toronto-based Royal Nickel Corp., which focuses on exploration,development and acquisition of base metal and platinum group metal properties, has received royalty financing totaling US$15 million from RK Mine Finance. Part of the Red Kite Group, RK Mine Finance provides development, acquisition and bridge financing to miners. Under the terms of the deal, the financier will take a 1% net smelter return royalty in the the company's Dumont nickel project in Québec.
6 min read · 09 May 2013
Publicly traded Canadian buyout firm Onex Corp. announced that the company's board of directors approved a 36% increase in its quarterly dividend to $0.0375 per subordinate voting share. The increase reflected Onex's "success and ongoing commitment to its shareholders", according to the company.
1 min read · 09 May 2013
Pompano Beach, Florida-based Qzina Specialty Foods North America Inc., an importer and distributor of specialty chocolate and dessert ingredients, has been purchased by specialty food products distributor The Chefs' Warehouse Inc. of Ridgefield, Connecticut for US$32.7 million. Qzina was acquired by Canadian mid-market buyout firm Fulcrum Capital Partners in December 2005. Under Fulcrum's ownership, Qzina expanded with the acquisition of Ambassador Fine Foods Inc. in 2007, and introduced a broad line of branded products.
4 min read · 09 May 2013
Montréal-based MethylGene Inc., a publicly-traded, venture-backed biopharmaceuticals company, has proposed reincorporating in the state of Delaware under a new parent organization called Mirati Therapeutics Inc. As part of the arrangement, Mirati will apply to list shares on NASDAQ. The plan, to be approved by shareholders in June, seeks to increase Methylgene's financing options and profile in the United States, among other factors. The company's investors include several Canadian and U.S. venture capital firms, including Baker Brothers, BDC Venture Capital, Fonds de solidarité des travailleurs du Québec (FTQ), GeneChem, OriMed Advisors, ProQuest Investments, Tang Capital and Tavistock Life Sciences.
5 min read · 09 May 2013
