Private Equity
GFL Excavating Corp, an affiliate of GFL Environmental Inc, has acquired all of the shares of Anchor Shoring Group, a Toronto-based specialist in the design and installation of soil retention and engineered foundations. No financial terms were released. GFL, an environmental services company, said the acquisition will add to the soil remediation, excavation and demolition capabilities of its infrastructure services group, and help it to complete large-scale contracts. Vaughan, Ontario-based GFL is backed by Highbridge Principal Strategies and Hawthorn Equity Partners. Last October, it agreed to to buy TransForce Inc's solid waste business for $800 million.
2 min read · 18 January 2016
Dynacor Gold Mines Inc (TSX: DNG) has raised US$10 million in senior secured credit facilities from Third Eye Capital Corp. The company also agreed to issue 950,000 common share purchase warrants to Third Eye. Each warrant is exercisable at $1.83 per common share. Based in Montréal, Dynacor is a gold ore processing and exploration company active in Peru. It plans to use the credit facilities to fund the completion of a new gold ore processing mill. Third Eye is a Canadian provider of private loans to under-appreciated businesses.
3 min read · 18 January 2016
Zayo Group Holdings Inc (NYSE: ZAYO), a portfolio company of U.S. private equity firm GTCR, has closed its acquisition of Allstream Inc, a Canadian provider of bandwidth and telecommunications services. The deal, announced late last year, saw Allstream sold to Zayo by Manitoba Telecom Services Inc (TSX: MBT) for $465 million. Zayo, a Boulder, Colorado-based communications infrastructure services business, said the Allstream buy gives it extensive intercity and metro fibre assets located throughout Canada. GTCR invested in Zayo in 2012.
4 min read · 15 January 2016
Cepsa, an energy affiliate of Abu Dhabi's International Petroleum Investment Co, has sold its 9.15 percent stake in Compañía Logística de Hidrocarburos (CHL Group) to Borealis Infrastructure. No financial terms were disclosed. CHL is an oil product transportation and storage business based in Madrid. Cepsa said the sale forms part of its current optimization program. Borealis is the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS).
2 min read · 15 January 2016
Capital croissance PME II made a $750,000 investment in a recent acquisition by Oboxmedia Inc, a Montréal-based premium publisher network and digital advertising company. In November 2015, Oboxmedia bought the digital properties and online ad network of NewAd Media Inc, an indoor advertising business also based in Montréal. No financial terms were released. Capital croissance PME II is a $230 million fund jointly sponsored by Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec.
2 min read · 14 January 2016
Canadian real estate private equity firm Tricon Capital Group has announced a number of recent acquisition transactions with a total value of about US$150 million. The U.S.-based deals include a land development investment in Phoenix; an acquisition of over 400 homes located primarily in Indianapolis, Dallas, Atlanta, Charlotte, Columbia and Tampa; an acquisition of five age-restricted manufactured housing communities in Phoenix; and two development project investments in Dallas, undertaken in partnership with StreetLights Residential. Tricon said it is currently looking at new opportunities in downtown Toronto.
5 min read · 14 January 2016
Mac Van Wielingen, founder and director of Canadian energy private equity firm ARC Financial Corp, is one of four Canadian recipients of the 2016 ICD Fellowship Award. The award, sponsored by the Institute of Corporate Directors, recognizes excellence and leadership in the boardroom. Van Wielingen founded Calgary-based ARC in 1989 and served in the roles of CEO, chair and co-chair until 2014. In addition to his current duties at ARC, he chairs the Alberta Investment Management Corp.
3 min read · 13 January 2016
Blue Software, a portfolio company of U.S. private equity firm Diversis Capital, has acquired Viki Solutions, a provider of online proofing and real-time collaboration software technology based in Victoria, British Columbia. No financial terms were disclosed. Chicago-based Blue Software said the deal helps cement its position as a global provider of end-to-end artwork and label management software solutions. In December 2014, Diversis acquired the company in a carve out from Matthews International.
3 min read · 12 January 2016
Chilean energy company Colbun said on Monday it will not be able to bid for a controlling stake in Colombian power generator Isagen this week, Reuters reported. Consortiums controlled by Colbun and Canada's Brookfield Asset Management were expected to bid for the 57.6 percent stake in the company. The stake is valued at around US$1.94 billion.
2 min read · 12 January 2016
H.J.R. Asphalt LP, a Saskatoon-based highway infrastructure company, has completed a $26.3 million management buyout in partnership with Golden Opportunities Fund, an affiliate of Canadian private equity firm Westcap Management. The transaction saw Golden Opportunities invest $10.5 million in syndication with another Westcap fund, Westcap MBO Investment LP, to secure majority ownership of H.J.R. Asphalt alongside key executives. The company said Westcap's investment brings financial, strategic and operational support to its role as a solutions provider in Saskatchewan's road construction industry. Last November, Westcap invested in DynaVenture Corp's buyout.
3 min read · 08 January 2016
