Today’s deal highlights inlclude Advent International bidding on perfume retailer Douglas, Apax selling its stake in Banca Farmafactoring, and family-owned department store Belk exploring a sale.
3 min read · 02 April 2015
Changepoint, a portfolio company of U.S. private equity firm Marlin Equity Partners, has bought barometerIT, a provider of SaaS-based solutions for integrated portfolio planning and analysis. The financial terms of the deal were not released. Changepoint said its strategic combination with the Minneapolis, Minnesota-based barometerIT will create an integrated business execution management platform for its customers. Headquartered in Toronto, Changepoint was acquired by Marlin in January 2014. Several months later, the company purchased Daptiv Solutions LLC.
4 min read · 02 April 2015
Medwell Capital Corp (TSX-V: MWC), an Edmonton-based investment and advisory company, has agreed to combine with GDI Integrated Facility Services Inc, a Montréal-based provider of janitorial and related services to the commercial real estate industry. The arrangement between the two companies will include a cash-and-stock transaction and a concurrent public offering of securities. The resulting public entity will carry on the business of GDI and assume its name. Both GDI and Medwell are portfolio investments of Canadian mid-market private equity firm Birch Hill Equity Partners.
10 min read · 02 April 2015
Read the digital version of the latest Buyouts and access our archive of past issues, which dates back to March 2012.
1 min read · 02 April 2015
Royal Bank of Canada topped Canadian equity issuances in the first quarter, lifted by a surge in financings for energy companies looking to beef up their balance sheets in the face of sluggish oil prices, Reuters reported. Thomson Reuters figures also showed that Canadian mergers and acquisitions climbed nearly 19 percent to US$40.6 billion in the first quarter, reflecting an improving global environment for deals.
2 min read · 02 April 2015
California’s state treasurer sent a stern letter to the state’s teachers’ pension fund on Wednesday, asking that the fund’s managing partner, Cerberus Capital Management, fully divest from the assault weapon manufacturer, Freedom Group, Reuters reported.
2 min read · 01 April 2015
The following bids, mergers, acquisitions and disposals were reported by Reuters as of 2000 GMT on Wednesday, April 1, 2015.
4 min read · 01 April 2015
Veresen Midstream LP, a partnership owned equally by Veresen Inc (TSX: VSN) and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR), has closed its buy of natural gas assets from Encana Corp and Cutbank Ridge Partnership (CRP). The deal, which was announced in December, reflected a purchase price of about $760 million. The payment to Encana totaled $461 million, according to the company's statement. As part of the transaction, the acquirer has agreed to undertake up to $5 billion of new midstream expansion for Encana and CRP in the Montney region of northeastern British Columbia. The Veresen Midstream acquisition was one of 2014's largest Canadian private equity deals.
7 min read · 01 April 2015
WSP Global Inc (TSX: WSP) has acquired SPL Consultants Ltd, a Toronto-headquartered professional services company that specializes in engineering solutions. The financial terms of the deal were not released. WSP said the acquisition enhances its environmental professional services offering. Based in Montréal, WSP is backed by the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. CPPIB and the Caisse have supported a number of the company's recent add-on transactions, including the October 2014 purchase of Parsons Brinckerhoff.
3 min read · 01 April 2015
Corning Inc (NYSE: GLW) has purchased iBwave Solutions Inc, a Canadian in-building wireless software company. The financial details of the transaction were not published. Corning, a U.S. manufacturer of glass, ceramics and related materials, said iBwave will operate as a subsidiary at its existing Montréal headquarters and under its current name. Founded in 2003, iBwave less than two years ago received an undisclosed growth investment from U.S. private equity firm Vicente Capital Partners. The investment was made in partnership with Farol Asset Management.
3 min read · 01 April 2015
