TriCan Tire Distributors Inc., the Canadian subsidiary of American Tire Distributors Inc. (ATD) has agreed to acquire Regional Tire Distributors Inc., a Burlington, Ontario-based company focused on tire supply solutions. The deal, which is expected to close at the end of April, 2013, has been valued at approximately US$62.5 million. Charlotte, North Carolina's ATD is a portfolio investment of U.S. buyout firm TPG Capital, which bought the company in 2010 from Investcorp, Berkshire Partners and Greenbriar Equity Group.
3 min read · 01 April 2013
Canada's new immigrant entrepreneur program, Start-Up Visa, was launched on the 1st of April. The program requires that non-resident entrepreneurs obtain funding from a Canadian angel investor group or venture capital firm when applying for relevant visas. Citizenship and Immigration Canada, which administers the program, has established a list of eligible investors following consultations with Canada’s Venture Capital and Private Equity Association and the National Angel Capital Organization.
2 min read · 01 April 2013
Calgary, Alberta's Botaneco Corp., a natural specialty ingredients company, has closed its previously announced sale of subsidiary Botaneco Specialty Ingredients Inc. (BSI) to Concept Capital Management Ltd. The cash consideration of C$250,000 was directed to Canadian venture capital firm AVAC, in satisfaction of obligations. Botaneco is a portfolio company of AgeChem Venture Fund LP, which is managed by GeneChem, and Avrio Ventures.
2 min read · 01 April 2013
The private equity group of Toronto-based Brookfield Asset Management Inc. has wrapped up a new partnership ear-marked for North American mid-market turnarounds and other special situations, peHUB Canada has learned. Brookfield Capital Partners III LP recently closed at US$1 billion, according to Joe Freedman, one of the group’s senior managing partners. The new fund was backed by a mix of institutional investors, including for the first time European public pensions and insurance companies. Brookfield itself accounted for about one-quarter of the tally.
1 min read · 01 April 2013
Canadian capital pool company Lynnwood Capital Inc. has entered into an agreement to buy Tantalex Corp. Under the terms of the agreement, Tantalex shareholders will receive one Lynnwood share for each Tantalex share held. The proposed management of Tantalex following the completion of the transaction will include senior representatives of Charbone Buckell, a mining-focused private equity firm with offices in Montréal and Eysins, Switzerland.
9 min read · 01 April 2013
British energy management services company Energy Solutions Group (ESG), a portfolio company of European private equity firm Bridgepoint Development Capital since 2010, has attributed recent growth in its revenues in part to "a brace of acquisitions." ESG specifically cited its beneficial acquisition of Wilmslow, United Kingdom-based Evolve Group of Companies from Canadian private equity firm Callisto Capital, which took place in June 2012.
2 min read · 31 March 2013
It’s actually better than 2007!
3 min read · 29 March 2013
The board of directors of Artaflex Inc., a Toronto-based specialist in delivering integrated product solutions and support to the global technology and electronics industry, has approved a going-private transaction to be completed through a consolidation arrangement. Among Artaflex's investors are affiliates of FIMI Opportunity Funds, an Israeli buyout and mezzanine firm.
4 min read · 28 March 2013
Canada’s Venture Capital and Private Equity Association (CVCA) expressed concern about the federal budget proposal to end labour-sponsored venture capital corporation (LSVCC) tax credits by 2017. CVCA president Peter van der Velden said the measure "poses a severe risk of constricting the supply of venture capital in Canada." Retail funds, dominated by LSVCCs, have invested over C$560 million in venture capital in Canadian companies since 2010, reports Thomson Reuters (publisher of peHUB Canada).
3 min read · 28 March 2013
The Toronto-based Bastion Infrastructure Group has announced the appointment of Enrique Fuentes as a partner on the firm's investment team. Mr. Fuentes has over 20 years of infrastructure investment and management experience, which includes his 13 years with Cintra S.A. and Ferrovial S.A. Bastion targets investments in the power, water, transportation and energy infrastructure sectors.
3 min read · 28 March 2013
