Canadian private equity firm Onex Corp recently agreed to make an undisclosed equity investment in Schumacher Group, a U.S. provider of outsourced emergency and hospital medicine clinical staffing, as well as healthcare advisory services. The deal, which is intended to support the company's continued growth, is expected to close in the third quarter. Founded in 1994, Schumacher has its headquarters in Lafayette, Louisiana. Last month, Onex agreed to invest in Jack’s Family Restaurants, a U.S. operator of quick-service restaurants.
3 min read · 24 June 2015
Canada's largest mobile operator, Rogers Communications Inc, has agreed to pay more than $400 million to acquire struggling wireless carrier Mobilicity, sources told Reuters. The agreement will soon be brought before a court overseeing Mobilicity's creditor protection process. Mobilicity's private equity investors include U.S.-based Quadrangle Group and Canada's Catalyst Capital Group.
1 min read · 24 June 2015
Niska Gas Storage Partners LLC (NYSE: NKA), a midstream natural gas services provider with primary offices in Radnor, Pennsylvania and Calgary, recently agreed to be bought by an investor group led by Brookfield Infrastructure. The transaction is valued at about $912 million, including the assumption of debt, and is expected to be completed in the second half of 2016. In connection with the deal, Brookfield has committed to lend up to $50 million to Niska for working capital purposes. Niska is currently a portfolio company of U.S. private equity firms Riverstone Holdings and The Carlyle Group. A fund affiliated with the two investors bought Niska from Encana Corp in 2006.
5 min read · 23 June 2015
An affiliate of BluEarth Renewables Inc has acquired LunarLight, a 10 megawatt AC solar power plant located in Belleville, Ontario, for about $65 million. The seller was Canadian Solar Inc, which in January of this year sold its SparkleLight plant to BluEarth for about $66 million. LunarLight is the last in a series of acquisitions of Canadian Solar assets by the Calgary-based BluEarth, a renewable power producer focused on North American wind, water and solar projects. The company is backed by ARC Financial Corp and Teachers’ Private Capital.
3 min read · 23 June 2015
FullBeauty Brands Inc is exploring a sale or an initial public offering that could value the privately held plus-sized women’s and men’s fashion retailer at more than $1.5 billion, including debt, according to people familiar with the matter, Reuters reported exclusively.
2 min read · 23 June 2015
British banking group Barclays is in talks to sell its natural resources-focused private equity business to the unit’s management, a person familiar with the matter told Reuters on Tuesday.
1 min read · 23 June 2015
Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, said that it has led a US$920 million capital raise in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher returns, Reuters reported. Ivanhoé Cambridge said it invested US$500 million in the deal, which also included participation from APG Asset Management NV of the Netherlands.
2 min read · 23 June 2015
Employees and the founder of Canadian wireless telecom provider Mobilicity have made a proposal to the federal government to acquire the company's subscribers, dealers, and partial infrastructure via a mobile virtual network operator structure. The deal is intended to keep the company's brand operational in its current markets and allow it to restructure. Obelysk, a private equity firm owned by Mobilicity founder John Bitove, would provide the necessary funding. Reuters recently reported that Telus Corp and Rogers Communications Inc are currently making bids to buy Mobilicity. Since 2008, the company has been backed by U.S. private equity firm Quadrangle Group.
3 min read · 23 June 2015
SPREP Pte Ltd, a company formed in 2013 by Canada Pension Plan Investment Board (CPPIB) and Shapoorji Pallonji Group, has announced its first acquisition. SPREP has agreed to acquire Faery Estates Private Ltd, the owner and operator of SP Infocity IT Park in Chennai, India. The property has been valued at about US$220 million. SPREP was established to invest in office buildings in major metropolitan areas of India. CPPIB owns 80 percent of the venture with an initial equity commitment of US$200 million.
3 min read · 23 June 2015
Hamilton Lane hit its hard cap of $1.5 billion for its oversubscribed third co-investment fund, as limited partners’ appetite for co-investing remains strong.
2 min read · 23 June 2015
