TPG will invest up to $1 billion in African companies under a tie-up with Sudanese billionaire Mo Ibrahim’s Satya Capital, the companies said on Thursday, Reuters reported.
1 min read · 18 June 2015
Vista Equity Partners has agreed to buy PowerSchool, a K-12 student information systems (SIS) provider, from Pearson for $350 million in cash.
2 min read · 18 June 2015
Aveda Transportation and Energy Services Inc (TSXV: AVE) has completed its previously announced buy of Hodges Trucking Co, a U.S. operator and owner of rig moving and heavy haul equipment, from Seventy Seven Energy Inc. The purchase price was US$42 million. Aveda, a Calgary-based provider of oilfield hauling services and equipment rentals, is backed by Canadian private equity firm Werklund Capital. In a subsequent statement, it said the Hodges Trucking deal will increase the company's operational footprint in key markets, expand its customer base and help it better manage price pressures.
4 min read · 18 June 2015
OMERS Private Equity has agreed to partner with management in the acquisition of The Kenan Advantage Group Inc, a U.S. provider of liquid bulk transportation services to the fuels, chemicals, liquid foods and merchant gas markets. The deal's financial terms were not published. The sellers are U.S. private equity firms Goldman Sachs Capital Partners and Centerbridge Partners, which bought the North Canton, Ohio-based company from Littlejohn & Co in 2010. OMERS said it will support Kenan's continued organic and acquisition-led growth. The deal, which is expected to close in the third quarter, closely follows OMERS' buy of U.K.-based Environmental Resources Management.
4 min read · 18 June 2015
Dwyer Group Inc, which is backed by U.S. private equity firm The Riverside Company, has purchased Canadian lawn care franchise The Grounds Guys. The financial details of the transaction were not disclosed. The acquisition of the Mono, Ontario-based franchisor includes some 34 franchisees representing 40 locations across Canada. They join 194 locations of its affiliated business in the United States. Based in Waco, Texas, Dwyer is a holding company of franchise companies. Earlier in 2015, it bought Edmonton's Five Star Painting.
3 min read · 18 June 2015
Alignvest Acquisition Corp, an investment firm set up primarily to buy an operating asset, said it is raising almost double the money it set out to generate via an initial public offering on the Toronto Stock Exchange, Reuters reported. The Toronto-based firm, headed by serial entrepreneur and private equity veteran Reza Satchu, said it plans to raise $225 million.
2 min read · 18 June 2015
Nautilus Solar Energy LLC, an affiliate of U.S. energy infrastructure investor Starwood Energy Group, has completed a previously announced portfolio of 14 rooftop projects in Ontario, totaling about 4.1 megawatts. An additional six projects of 1.9 megawatts are expected to be completed by July. Rabobank provided non-recourse financing to the projects, while North Sky Capital and GoldenSet Capital Partners contributed undisclosed equity funding. Community investment partners included Green Energy Co-operative of Ontario and Eagle Lake First Nation.
4 min read · 17 June 2015
Constitution Capital Partners has wrapped up its third fund-of-funds and co-investment vehicle at $823 million after two years, and it is already thinking about hitting the fundraising trail again later this year.
2 min read · 17 June 2015
Canadian asset management firm Clark & Lunn Financial Group Ltd (CC&L) has expanded its sales team in the United States. Kieran Brennan has joined the firm's office in New York as vice president, institutional sales. Brennan, who previously worked for First Eagle Investment Management, will be responsible for developing and managing relationships with investment consultants and institutional investors. Based in Toronto, CC&L's private market activity includes its infrastructure division and partnership with private equity firm Banyan Capital Partners.
2 min read · 17 June 2015
Shred-it International, a document destruction services provider majority owned by Birch Hill Equity Partners, filed a preliminary prospectus for an initial public offering this week. The IPO launch comes hard on the heels of an offering made by another Birch Hill portfolio company: Sleep Country Canada.
2 min read · 17 June 2015
