European investors gathered in Berlin for the annual SuperReturn conference are reluctant to toast the return of big-ticket takeovers in 2013, even though U.S. peers have long since popped the champagne corks, sister news service Reuters reported.
3 min read · 27 February 2013
Noront Resources Ltd., a Toronto-based junior mining company, has entered into a US$15 million loan facility with Resource Capital Fund V LP, which is managed by US mining-focused private equity firm Resource Capital Funds (RCF). Proceeds from the facility will be used to further development of the company's advanced stage Eagle's Nest nickel, copper, platinum, palladium project in northern Ontario, and other requirements. RCF acquired an equity stake in Noront in 2012.
5 min read · 26 February 2013
Cequence Energy Ltd., a Calgary-based company focused on the exploration, development and production of natural gas and crude oil, has entered into an agreement to transfer property and issue equity to Donnybrook Energy Inc. to acquire the latter's energy interests in the Simonette and Resthaven regions of Alberta. The total value of the transaction is estimated at about C$23 million. Cequence is currently a portfolio company of Canadian private equity firms ARC Financial Corp. and KERN Partners.
6 min read · 26 February 2013
Top privately-owned companies with revenues of $10 million-plus showed growth in 2012, according to Deloitte's Canada's Best Managed Companies program. Despite a soft economy, 50 winning companies that "demonstrated outstanding business performance and innovative management" grew revenue by 14% and income by 24%. Deloitte said top companies were active in M&A markets, attracting new talent, developing new products, and undertaking more succession planning, in many instances with the help of private equity funds.
7 min read · 26 February 2013
Dr. Ray Muzyka, co-founder of the private equity-backed electronic entertainment company BioWare Corp., which was sold to Electronic Arts Inc. in 2007, has become a Venture Advisor to Canadian venture capital firm iNovia Capital. Mr. Muzyka, who has co-invested with iNovia, and invested in the firm's latest partnership, iNovia Fund III, recently advanced his entrepreneurial mentoring and investment activity through Threshold Impact Ltd., a company he established in 2013.
2 min read · 26 February 2013
The Globe and Mail reports that Ontario Teachers Pension Plan has struck a deal with the Government of Ontario which will allow the pension fund to assume more risk when investing. In an interview, Teachers' CEO Jim Leech said the deal "lowers our risk profile quite substantially," permitting new flexibility in investment strategy, which might include doing more private equity transactions. The agreement is intended to help Teachers reduce the plan's deficit.
1 min read · 26 February 2013
The Carlyle Group LP is preparing to sell aerospace and defense company Arinc Inc. and has hired JPMorgan Chase and Evercore Partners Inc. to advise on the process, three people familiar with the matter told sister news service Reuters. Arinc, which the buyout firm bought from six U.S. airlines in 2007 for an undisclosed sum, is expected to draw interest mostly from larger aerospace industry rivals and may fetch $1.2 billion to $1.5 billion in a sale, the three people said.
2 min read · 26 February 2013
1 min read · 25 February 2013
Cansel Inc., a provider of software, hardware and services to the engineering, surveying, and construction industries, has acquired CAD Worx Warehouse Inc. of Edmonton, Alberta, which focuses on sales and services provision of HP and KIP printing equipment. Terms were not publicized. The Vancouver-based Cansel has been a portfolio company of Canadian private equity firm Roynat Equity Partners.
2 min read · 25 February 2013
A recent report by Towers Watson, Global Pensions Asset Study 2013, found global institutional pension fund assets in the largest national markets increased by nine percent in 2012 to reach a new high of US$30 trillion. Among 13 the largest markets, which together account for over 85% of total assets worldwide, Canada's ranked fifth, with pension assets of US$1,483 billion, behind the United States, Japan, the United Kingdom and Australia.
6 min read · 25 February 2013
