Shanahan’s LP, a manufacturer and supplier of specialty building products, announced its acquisition of Hardware Agencies Ltd. of Toronto and Serrubec Inc. of Montréal, both of which are focused on wholesale distribution of security hardware. The new business will be based in Edmonton, Alberta. Shanahan's has since 2007 been backed by Canadian private equity firms Banyan Capital Partners and Yellow Point Equity Partners.
2 min read · 03 January 2013
Alaris Royalty Corporation has announced its commitment of an additional C$9 million to Killick LP, managed by Atlantic Canadian private equity firm Killick Capital. To date, Alaris has contributed a total of C$36.5 million to the partnership, the proceeds of which will be invested in businesses of interest to Killick, which include global aerospace companies.
2 min read · 03 January 2013
Summer Street Capital Partners, a Buffalo, N.Y.-based private equity firm, is nearing the final close on its third investment fund, a source close to the fundraising process told Buyouts.
1 min read · 02 January 2013
Corix Utilities, Inc., a Richmond, British Columbia-based company which develops customized water, wastewater and energy infrastructure systems and provides field metering services, has closed its previously-announced acquisition of Utilities, Inc. from US private equity firm Highstar Capital. Corix was bought in 2006 by a group of Canadian investors, including Banyan Capital Partners, CAI Private Equity and British Columbia Investment Management Corp. (BCIMC). In November, 2012 CAI sold its interest in the company to BCIMC.
3 min read · 02 January 2013
Ontario Teachers’ Pension Plan has acquired Plano Molding Company, a supplier of outdoor sports storage systems. The deal closed on December 21. Terms were not released. Plano was a portfolio company of Tinicum Capital Partners.
3 min read · 02 January 2013
Onex Corp. has paid $165 million for a 50% stake in BBAM, a manager of commercial jet aircraft. Onex and the BBAM management team also announced the purchase of $25 million of newly issued shares of FLY Leasing Limited, a lessor of commercial jet aircraft managed by BBAM. In total, Onex Partners III invested $185 million, of which Onex' share was $47 million as a limited partner in the Fund.
3 min read · 02 January 2013
Global steelmaker ArcelorMittal is to sell a $1.1 billion (673 million pounds) stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker POSCO and Taiwan-listed China Steel Corp, writes Reuters. ArcelorMittal formed in 2006 when India-born Lakshmi Mittal's steel business bought European peer Arcelor for $33 billion.
3 min read · 02 January 2013
Chicago-based Arbor Investments has exited its investment in Bradshaw International, a provider of kitchen tools and gadgets. The buyer was ONCAP, the Toronto, Ontario-based mid-market private equity platform of Onex. The financial terms were not released. Torys LLP represented ONCAP in this transaction.
3 min read · 31 December 2012
Private equity firm American Securities LLC said on Thursday it sold a U.S. media production company to peer Crestview Partners, in one of the clearest examples yet of a firm rushing to close a deal before the end of the year to avoid a potentially larger tax bill, according to sister news service Reuters.
2 min read · 28 December 2012
Onex Corp. has completion its $2.3 billion acquisition of USI Insurance Services. Onex, Onex Partners III and USI employees own 100% of the Company. USI is headquartered in Briarcliff Manor, N.Y.
2 min read · 28 December 2012
