A new report by Deloitte indicates that last year's robust merger and acquisition activity in the United States is likely to continue in 2015. In its second annual M&A Trends Report 2015, Deloitte found that 85 percent of U.S. corporate executives and 94 percent of U.S. private equity investors responding to its survey expect deal making to sustain or ramp up from 2014 levels in the next 12 months. Respondents to the survey also suggested that market trends will include an uptick in transformational deals, more divestitures of corporate units and private equity portfolio companies, and increased use of technology-driven data analytics to assess M&A opportunities.
5 min read · 22 April 2015
KKR & Co LP has secured $1.7 billion for its second special situations fund, which is seeking to raise as much as $3 billion in all to invest in distressed assets, people familiar with the process told Reuters.
1 min read · 22 April 2015
Low or negative yields and surging equity markets are making insurers gloomy about the outlook for their investments, according to a Goldman Sachs Asset Management survey of nearly 300 senior insurance executives across the globe, Reuters reported.
1 min read · 22 April 2015
Bluedrop Performance Learning Inc (TSX-V: BPL) has secured increased access to funding from Grenville Strategic Royalty Corp. Grenville raised its available investment to $1.65 million. Based in Ottawa, Bluedrop is a provider of workplace training for individuals, corporations, military personnel and the public sector. Last year, it acquired Atlantis Systems Corp from U.S. private equity firm ComVest Partners. The company is also backed by Canadian specialty finance firm Difference Capital Financial.
4 min read · 21 April 2015
U.S. infrastructure investment firm Argo Infrastructure Partners has agreed to acquire the transmission system of Cross-Sound Cable Co LLC. The deal, the financial value of which was not disclosed, is expected to close later this year. Cross-Sound's transmission system provides interconnection between the New England and Long Island power grids via a 39 kilometre submarine cable spanning Long Island Sound. It is being sold by Brookfield Infrastructure Partners, an affiliate of Canadian asset manager Brookfield Asset Management.
2 min read · 21 April 2015
Concordia Healthcare Corp (TSX: CXR) has closed its previously announced acquisition of assets held by Switzerland's Covis Pharma Holdings SARL for US$1.2 billion in cash. The sellers in the transaction included U.S. private equity firm Cerberus Capital Management. The Oakville, Ontario-based Concordia, a healthcare company focused on legacy pharmaceutical products and orphan drugs, said the deal will advance its organic and acquisition-based growth strategy.
7 min read · 21 April 2015
Brookfield Asset Management said it is raising US$1.1 billion through a new equity issue that will help the alternative asset manager fund some of the deals it is currently eyeing, Reuters reported. The Toronto-based firm that owns a vast portfolio of real estate, energy and infrastructure assets is widely viewed as one of the front runners in a number of ongoing sales processes.
2 min read · 21 April 2015
A partnership led by private equity firms Anchor Equity Partners and Kohlberg Kravis Roberts & Co (KKR) have agreed to buy a controlling interest in South Korean mobile commerce company Ticket Monster Inc from Groupon Inc (Nasdaq: GRPN) for US$360 million. Anchor and KKR will hold equal stakes in the company, while the Canada Pension Plan Investment Board (CPPIB) and others will also participate as investors. The deal, which is expected to close in the second quarter, will see Anchor and KKR inject new capital into Ticket Monster to fund its future growth opportunities.
7 min read · 21 April 2015
Golf Town Canada Inc, a portfolio company of OMERS Private Equity, has agreed to sell its subsidiary Accolade Promotion Group (APG) to Staples Inc (Nasdaq: SPLS). The financial details of the transaction were not released. Staples said the acquisition of APG will enhance its position as a distributor of promotional products in North America and expand its offering to customers. OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System (OMERS), bought Golf Town, a Canadian specialty golf retailer, in 2007. In 2012, the company was merged with Golfsmith International Holdings Inc.
3 min read · 21 April 2015
KODA Distribution Group (KDG) has acquired Unipex Solutions Canada Inc, a provider of active ingredients, specialty chemicals and other chemical products for cosmetics, pharmaceuticals, nutrition and other industries. The financial terms of the transaction were not released. Unipex Solutions Canada, which is based in Boucherville, Québec, was sold by European private equity firm IK Investment Partners, which bought the company's French parent from AXA Private Equity in 2012. KDG said the acquisition reinforces its position as a specialty chemical distributor in North America.
3 min read · 21 April 2015
