Kohlberg Kravis Roberts & Co. will buy industrial machinery maker Gardner Denver Inc. for $3.74 billion, four months after the company put itself up for sale, sister news service Reuters reported. The deal is valued at $3.9 billion including debt, the companies said in a statement.
2 min read · 08 March 2013
Four months after losing the presidential election to Barack Obama, Mitt Romney is joining his son’s investment firm, Solamere Capital, sister news service Reuters reported, citing a Romney adviser.
1 min read · 07 March 2013
Private equity firms including The Blackstone Group LP and The Carlyle Group are exploring a joint offer for Life Technologies Corp., a biomedical laboratory equipment maker with a $10 billion market value, two people familiar with the matter told sister news service Reuters.
2 min read · 06 March 2013
Anaheim, California-based RSI Home Products Inc. has completed a bond transaction which raised US$525 million in 5-year senior secured second lien notes. Funds generated by the transaction will be used in part to purchase the 50 percent equity stake held by Canadian buyout firm Onex Corp. Onex announced it has received proceeds totaling US$471 million, which accounts for the company buyback and prior distributions, from its original investment in RSI.
2 min read · 01 March 2013
True North Gems Inc., a junior exploration company dedicated to the exploration and development of coloured gemstone deposits, has secured C$800,000 from Nuuk, Greenland-based private equity firm Greenland Venture A/S. The funds will be used by the Vancouver-based True North Gems for working capital and to facilitate public hearings and other Greenlandic matters during the final stages of permitting the Aappaluttoq Ruby Project.
4 min read · 01 March 2013
Masonite International Corp., a designer and manufacturer of interior and exterior doors, has registered with the US Securities and Exchange Commission for an initial public offering of its common shares. The company plans to list on the New York Stock Exchange. Masonite, which is based in Tampa, Florida and has significant operations in Canada, was acquired in 2005 by Kohlberg Kravis Roberts & Co. for C$3.1 billion. In 2009, the company restructured and emerged from bankruptcy through an agreement with a group of investors, including Centerbridge Partners and Oaktree Capital Management .
2 min read · 01 March 2013
Aberdeen International Inc. has provided a C$2 million stand-by credit facility to Rodinia Lithium Inc., a Canadian mining company with a primary focus on lithium exploration and development in North and South America. Aberdeen, which is also a significant shareholder in Rodinia, is a portfolio company of Forbes & Manhattan, a Toronto-based merchant bank specializing in incubating, financing and managing public and private companies in junior resource sectors.
3 min read · 27 February 2013
Canadian pension fund organization the Caisse de dépôt et placement du Québec saw net assets rise to C$176.2 billion at the end of 2012, and earned a 9.6% weighted average return. With a 12.2% return, equities made the most substantial contribution to overall results, generating C$8.8 billion in net investment results, with C$2.1 billion coming from the private equity portfolio. Additionally, since the Caisse reorganized operations in 2009, its private equity investments have generated a 18.3% annualized return.
7 min read · 27 February 2013
KingSett Capital, a Canadian real estate-focused private equity firm, will provide financing in support of Huntingdon Capital Corp.'s proposed acquisition of 100% of the trust units of KEYreit, a small-box retail property owner. In exchange for a new bridge loan facility, KingSett has been granted warrants to purchase shares of Huntingdon. The KEYreit acquisition offer, which will expire on March 18, 2013, has been valued at approximately C$99 million.
6 min read · 27 February 2013
The loan financing backing the buyout of ketchup maker HJ Heinz Co. will be covenant-lite and banks are joining on a sub-underwriting basis, banking sources told sister service Thomson Reuters Loan Pricing Corp.
1 min read · 27 February 2013
