Canada Pension Plan Investment Board (CPPIB) has agreed to acquire approximately 1.9 million voting and non-voting ordinary shares of Enstar Group Ltd (Nasdaq: ESGR). The purchase represents about 9.9 percent of the company's total shares. Based in Hamilton, Bermuda, Enstar is an acquirer and manager insurance and reinsurance companies in run-off, and a provider of insurance-related management, consulting, and other services. The stake in Enstar is being bought from U.S. private equity firm First Reserve Corp. Last year, CPPIB agreed to buy another Hamilton, Bermuda insurance platform, Wilton Re Holdings Ltd.
4 min read · 01 June 2015
Canadian private equity firm Birch Hill Equity Partners has made an investment in Sigma Systems, a provider of idea-to-install software solutions for communications, media and high technology industries. The deal, the financial terms of which were not disclosed, will be done in partnership with the company's management team, including President and CEO Tim Spencer. Founded in 1996, the Toronto-based Sigma Systems said the partnership will support its growth plan, which will focus on acquisitions, new product lines, and expansion into new industries and customer segments. As reported by peHUB Canada last October, Birch Hill is currently launching its fifth mid-market fund, Birch Hill Equity Partners V LP.
3 min read · 01 June 2015
The SEC is taking cybersecurity seriously – and it wants sponsors to do the same.
3 min read · 01 June 2015
Merger and acquisition activity in the United States has made its strongest start to a year since Reuters records began in 1980, climbing 52 percent year on year to US$746.9 billion in the Jan. 1 to May 28 period. Global deal making is also up 35 percent from the same period in 2014, with US$1.7 trillion of deals having been struck.
1 min read · 29 May 2015
A subsidiary of NCSG Crane & Heavy Haul Corp has completed the previously announced acquisition of B&G Crane Holdings Inc for an undisclosed amount. The seller was U.S. private equity firm The Sterling Group, which acquired B&G, a U.S. supplier of operated and maintained crane services, specialized rigging, and heavy haul transportation, in 2010. Based in Edmonton, NCSG is a crane and heavy haul company founded in 1987. It is owned by an investor group led by Canadian private equity firm TriWest Capital Partners, Alberta Teachers' Retirement Fund, NCA Partners and NCSG management.
4 min read · 29 May 2015
Private equity firm Graham Partners has exited Infiltrator Water Technologies LLC, a U.S. maker of wastewater products, after a near 10-year hold. Ontario Teachers’ Pension Plan announced this week it had acquired Infiltrator. Financial terms weren’t announced, but various sources put the deal's value at more than US$500 million.
2 min read · 29 May 2015
As General Electric Co seeks to unload most of its finance assets, it is prioritizing the sale of businesses that provide lending to U.S. and European private equity firms, and to healthcare-related businesses, GE Capital's top executive said this week. Sources told Reuters that Guggenheim Securities Inc, Apollo Global Management LLC, Ares Management LP and the Canada Pension Plan Investment Board were among the bidders for GE's private equity lending arm. The sale of that business could come in early June.
2 min read · 28 May 2015
Gracenote Inc, a division of Tribune Media Co (NYSE: TRCO), has acquired SportsDirect Inc, a provider of sports data and statistics based in Halifax, Nova Scotia. A total of US$54 million was paid for SportsDirect and two related businesses. Gracenote said it will tap the content of these companies and leverage its own entertainment information resources to create new data-driven sports products and services. Tribune Media, a multi-media business headquartered in Chicago, is backed by Oaktree Capital Management, Angelo, Gordon & Co and JPMorgan Chase.
6 min read · 28 May 2015
As General Electric Co seeks to unload most of its finance assets, it is prioritizing the sale of businesses that provide lending to U.S. and European private equity firms, and to healthcare-related businesses, GE Capital’s top executive said on Wednesday, Reuters reported.
2 min read · 28 May 2015
European private equity firm Cinven has agreed to buy French medical diagnostics provider Labco SA for 1.2 billion euros ($1.31 billion), a person familiar with the deal told Reuters.
1 min read · 28 May 2015
