A subsidiary of NCSG Crane & Heavy Haul Corp has agreed to buy B&G Crane Holdings Inc, a supplier of operated and maintained crane services, specialized rigging, and heavy haul transportation in the Louisiana Gulf Coast region. The acquisition's value was not disclosed. The seller in the deal is U.S. private equity firm The Sterling Group, which acquired B&G in 2010. NCSG, a crane and heavy haul company based in Edmonton, said the transaction will create "a significantly more diversified business." NCSG is backed by Canadian private equity firm TriWest Capital Partners, Alberta Teachers' Retirement Fund and NCA Partners. Earlier this year, it also bought Energy Transportation LLC.
5 min read · 27 April 2015
Canadian buyout and related private equity deal making continued at a strong pace in the first quarter of 2015, according to final data released by Thomson Reuters. A total of 99 deals secured $6 billion in disclosed investment values between January and March, which is the most active first-quarter period ever recorded for the market in Canada. Domestic private equity investors were also more active overseas in this period, leading or participating in 39 transactions valued at about $34 billion. Canadian buyout and related private equity funds brought an additional $2.6 billion in commitments into the market in the first three months of 2015, which is down slightly from the year before.
4 min read · 27 April 2015
TORC Oil & Gas Ltd (TSX: TOG) has agreed to acquire light oil producing assets in southeast Saskatchewan and Manitoba that are complementary to its existing assets in the region. The purchase price is $430 million, payable in cash to an undisclosed Canadian oil and gas company. In support of the proposed transaction, which is expected to be completed in June, TORC's cornerstone investor, the Canadian Pension Plan Investment Board (CPPIB), has agreed to commit up to about $150 million in additional funding. Established in 2010, the Calgary-based TORC is focused on the acquisition, exploration, development and production of crude oil and natural gas assets.
10 min read · 27 April 2015
U.S. thermal technology business Chromalox has acquired ProTrace Engineering Inc, a Calgary-based provider of specialized electrical engineering services to the oil and gas industry. The financial details of the transaction were not released. Chromalox, which has its headquarters in Pittsburgh, Pennsylvania, said the acquisition will give it new capabilities and help it to expand current engineering service offerings. U.S. private equity firm Irving Place Capital bought Chromalox from Sentinel Capital Partners in January 2013.
2 min read · 27 April 2015
Stingray Digital Group, a business-to-business music provider and media company, said it plans to go public through a Toronto Stock Exchange listing. Sources told Reuters that the company plans to raise about $120 million. Founded in 2007, Stingray is backed by Canadian private equity firm Novacap and Canadian media and technology holding company Telesystem.
2 min read · 26 April 2015
Stingray Digital Group Inc has filed a preliminary prospectus with Canadian securities regulators about a proposed initial public offering (IPO) of its subordinate voting shares and variable subordinate voting shares. The company has not as yet indicated the amount the IPO is intended to raise. Based in Montréal, Stingray is a business-to-business multi-platform music and in-store media solutions provider. It was founded in 2007 with an investment from Canadian private equity firm Novacap and Telesystem. Stingray's President and CEO Eric Boyko was interviewed by peHUB Canada in its December 2013 report about the first close of Novacap's fourth technology partnership.
3 min read · 24 April 2015
Mega Precious Metals Inc (TSX-V: MGP), a portfolio company of Australian private equity firm Pacific Road Capital, has agreed to be acquired by Yamana Gold Inc (TSX:YRI). The total consideration to investors in Mega Precious Metals is about $17.5 million. The acquisition, which is expected to close in June, will also see Yamana purchase the outstanding convertible debentures held by Pacific Road. Based in Thunder Bay, Ontario, Mega Precious Metals is an exploration company with mining projects in Manitoba, Northwestern Ontario and Nunavut. It is also backed by Pinetree Capital.
7 min read · 24 April 2015
Private equity firms are writing bigger equity checks to finance new buyouts as leveraged lending guidelines issued by U.S. regulators curb the amount of debt that banks are willing or able to lend, Reuters reported. Permira and Canada Pension Plan Investment Board provided an equity check of around 50 percent to finance the US$5.3 billion buyout of Informatica, which shows that investors are changing the way they finance deals to suit more sober times.
3 min read · 24 April 2015
G.W. Anglin Manufacturing Inc, a portfolio company of Canadian mid-market private equity firms Banyan Capital Partners and Carpedia Capital, has bought the assets of Polytek Equipments Inc, a Laval, Québec-based upfitter and electronic services provider to commercial vehicle fleets. The acquisition's value was not published. G.W. Anglin said the deal is a key milestone in its strategic plan to become Canada's leading fleet vehicle upfitter. Founded in 1966, the Tecumseh, Ontario-based company has been backed by Banyan and Carpedia since 2011. Last June, Banyan funded the management buyout that created Newcrete Investments LP.
2 min read · 24 April 2015
U.S. private equity firm Thoma Bravo and Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, have completed their previously announced acquisition of San Francisco-based network equipment maker Riverbed Technology Inc. The value of the transaction was approximately US$3.5 billion. As a result of the buyout's close, Riverbed will go private and stop trading on the NASDAQ under the ticker symbol "RVBD." The company said the new partnership will give it "greater flexibility to develop best-of breed technologies."
3 min read · 24 April 2015
