Buyout firm Apax Partners and Morgan Stanley's private equity arm are exploring a sale of Chicago-based insurance brokerage Hub International that could be valued at around $2 billion, two people familiar with the matter said this week.
1 min read · 11 April 2013
Ridgemont Equity Partners has raised its first fund since it spun off from Bank of America Corp. in 2010, allowing it to continue making investments in mid-sized companies as the No. 2 U.S. bank pulls back from the business.
3 min read · 11 April 2013
Ottawa-based Halogen Software Inc., a developer of employee performance and talent management applications, announced that the company has filed a preliminary prospectus in connection with its proposed initial public offering. Halogen has been backed in past by Canadian venture capital firms, and since July 2008 by the Baltimore, Maryland-based JMI Equity.
2 min read · 11 April 2013
The Federal Economic Development Agency for Southern Ontario has made a C$900K investment in Colibri Technologies Inc., a Toronto-based developer of technologies focused on improving patient quality of life, reducing healthcare costs and enabling better treatment options for large patient populations. The investment facilitated an additional C$1.8 million in funding for the company from angel group Omega Star.
5 min read · 11 April 2013
Canadian private equity firm Lynx Equity announced it has acquired NRG Equipment Inc. for an undisclosed sum. NRG is a Toronto-based provider of HVAC products for construction and renovation projects. The company's acquisition is the third completed by Lynx so far this year.
2 min read · 11 April 2013
Private equity firm DW Healthcare Partners (DWHP) has promoted two investment professionals, and added five to its team. Eric Keen was promoted from vice president to principal, and works in the firm’s Toronto office. Sameer Mathur was promoted from associate to vice president, and is also based in Toronto. The new DWHP hires are: Phillip Smith, Karen Jones, Eric Moore, Alex Aptekman, and Philip Edmunds.
3 min read · 11 April 2013
Persistence Capital Partners (PCP), a healthcare-focused private equity firm, has sold the Ontario-based clinics and other assets of its portfolio company Medvue Medical Imaging Inc., a Canadian provider of diagnostic imaging services. Acquired by PCP in 2008, Medvue's Ontario assets were sold in a series of transactions completed in the first quarter of 2013. The buyers included regional operators KMH Labs, True North Imaging, Blue Water Imaging and Annex Medical Imaging. Medvue will continue to operate its Québec clinics.
2 min read · 10 April 2013
The Business Development Bank of Canada (BDC) has been recognized by the editors of Canada's Top 100 Employers competition as one of Canada's best workplaces for Canadians over 40 years of age. With headquarters in Montréal, BDC manages two private equity funds: BDC Venture Capital and BDC Subordinate Financing.
2 min read · 10 April 2013
Stem Cell Therapeutics Corp., a Toronto-based life sciences company developing stem cell-related technologies, has completed its previously-announced merger with Trillium Therapeutics Inc. Shareholders of Toronto's Trillium, a specialist in immunotherapy and cancer stem cell research, voted for the deal, which provides them with cash and shares in the new company. Trillium has been backed by Canadian venture capital firms since 1997.
3 min read · 10 April 2013
Hi-Pro Feeds LP, a Okotoks, Alberta-based manufacturer and distributor of specialty feeds, pre-mixes, supplements, and commodity ingredients for dairy and beef cattle, poultry, swine, and other livestock, has completed its first year in operation, "achieving an aggressive target", according to the company. Hi-Pro, formerly a division of Viterra Inc., was established in April 2012 through a management buyout backed by Canadian private equity firm Birch Hill Equity Partners.
2 min read · 10 April 2013
