Brookfield Asset Management has approached Australia's Asciano Ltd with a US$6.8 billion takeover bid, but uncertainty about whether the deal would go through capped gains in the stock price of the rail freight firm, Reuters reported. If successful, the deal would be the seventh-largest inbound takeover of an Australian company. Brookfield's offer was made through Brookfield Infrastructure Partners.
2 min read · 02 July 2015
Canadian private equity firm Onex Corp has completed its previously announced majority investment in Jack’s Family Restaurants, a quick-service restaurant operator based in Homewood, Alabama. The financial details of the transaction were not published. The company has some 129 stores in Alabama, Georgia, Mississippi and Tennessee, and is gearing up for further expansion. Last week, Onex agreed to invest in Schumacher Group, a U.S. emergency and hospital medicine services provider.
2 min read · 02 July 2015
Medical device supplier Patterson Companies Inc said it would sell its business that makes products that assist in a patient’s recovery to private equity firm Madison Dearborn Partners for $715 million, Reuters reported
1 min read · 01 July 2015
The European Union should be able to contain the fallout if Greece were to leave the euro zone following a weekend referendum on a bailout programme, Blackstone chief Stephen Schwarzman said on Wednesday, Reuters reported.
2 min read · 01 July 2015
Brooks Zug, senior managing director and co-founder of funds-of-funds manager HarbourVest Partners, this spring told an audience of deal-makers about a buyout opportunity some of his associates had recently pitched with a price tag of 23.5x of trailing EBITDA
1 min read · 01 July 2015
StorageVault Canada Inc has agreed to purchase Storage For Your Life Solutions Inc and Carousel Ventures Ltd for $52.5 million. StorageVault, an owner and operator of storage facilities across Canada, said the acquisitions will give it four self-storage stores located in the Greater Vancouver Area. The deal is expected to close in September. Based in Regina, Saskatchewan, StorageVault is a portfolio company of funds managed by Canadian private equity and venture capital firm PFM Capital.
6 min read · 30 June 2015
Cenovus Energy Inc, Canada’s second-largest independent oil producer, said on Tuesday it has agreed to sell its portfolio of oil and gas royalty properties to Ontario Teachers’ Pension Plan for about C$3.3 billion ($2.66 billion), Reuters reported.
2 min read · 30 June 2015
British private equity firm Hilco Capital has bought Tilley Endurables, a travel clothing designer and manufacturer with headquarters in Toronto. The value of the acquisition was not published. Founded by Alex Tilley in 1980, the company's products, which include the iconic Tilley Hat, are stocked in more than 2,500 stores in multiple countries. Hilco CEO Paul McGowan said the firm will partner with Tilley to continue growing the business and taking "the Tilley Hat to new markets around the world.” Hilco's other Canadian investments include HMV Canada and Kraus Group.
2 min read · 30 June 2015
A Native American tribe in California is looking to make a bid for Colt Holding Co, the 179-year-old gun manufacturer, a tribal attorney told Reuters.
2 min read · 30 June 2015
Alliance Laundry Holdings LLC, a portfolio company of Teachers' Private Capital, has completed a new US$400 million asset-backed finance facility. President and CEO Mike Schoeb said the facility will allow the company to build on its existing North American market share and expand its operations in Europe. Based in Ripon, Wisconsin, Alliance Laundry is a designer, manufacturer and marketer of commercial laundry equipment. Teachers, the private investment arm of the Ontario Teachers' Pension Plan, bought it for US$450 million in 2005.
3 min read · 30 June 2015
