Canadian private equity and infrastructure manager Northleaf Capital Partners will purchase about 40 percent interest in the second phase of the Don A. Campbell project, which will deliver electricity to Los Angeles, California. The deal emerges from Northleaf's previously announced joint venture partnership with Ormat Technologies Inc (NYSE: ORA). Under the terms of the partnership, Northleaf will pay US$175 million to acquire a 40 percent equity interest in the joint venture and its renewable power assets. Ormat Technologies is based in Reno, Nevada.
4 min read · 25 March 2015
Penfund has made a US$37 million second lien debt and equity investment in Pediatric Services Holding Corp, the parent company of Pediatric Services of America Inc, also known as PSA Healthcare. PSA Healthcare, which is based in Atlanta, Georgia, is primarily focused on providing home nursing services to medically fragile children in the United States. The company was earlier this month acquired by U.S. private equity firm J.H. Whitney Capital Partners for an undisclosed amount. Headquartered in Toronto, Penfund provides junior capital to middle market companies across North America.
3 min read · 25 March 2015
Dude Solutions Inc, which is backed by U.S. private equity firm Warburg Pincus, has acquired Windmill Software Inc. The deal's financial terms were not disclosed. Based in Toronto, Windmill Software is a maker of senior living operations product TheWorxHub. Update: Dude Solutions, a U.S. software-as-a-service provider of operations management solutions, said the deal expands its position in the senior living market and gives the company its first Canadian office. Warburg Pincus first invested in Dude Solutions in 2014.
4 min read · 25 March 2015
Maxim Resources Inc (TSX-V: MXM) has agreed to acquire up to 25 percent indirect equity ownership in an oil and gas exploration and production concession covering an onshore area in the United Arab Emirates. The interest will be secured through Maxim's acquisition of up to 50 percent of the shares of Quest Oil & Gas Ventures Inc, a subsidiary of the Dubai-based Quest Investments, which is controlled by the Al Ansari family. As part of the deal, the financial terms of which were not disclosed, Quest will become a shareholder in Maxim, potentially owning more than 20 percent of the company's shares. Maxim has its headquarters in Vancouver.
8 min read · 24 March 2015
Grenville Strategic Royalty Corp has agreed to provide US$1.75 million to Interiormark LLC in exchange for a gross sales royalty. The transaction includes an option for Grenville to advance an additional US$1.25 million to the company. Interiormark is a U.S. online furniture retailer with a focus on the home theatre seating market. Grenville, which is based in Toronto, has to date completed about $28.9 million in royalty financings in Canada and the United States.
7 min read · 24 March 2015
Wind Mobile has named a new CEO and several new board members, months after the acrimonious exit of its biggest shareholder, Reuters reported. Alek Krstajic replaces Pietro Cordova as the company's top executive. Cordova was appointed by Wind's former majority shareholder, Vimpelcom. Rob MacLellan of Northleaf Capital Partners will also replace Anthony Lacavera as the company's chairman.
2 min read · 23 March 2015
Toronto-based card solutions provider NBS Technologies Inc has been bought by Ai Holdings Corp, a Japanese holding company primarily focused on information and security equipment businesses. The financial details of the transaction were not published. The seller in the deal was Canadian alternative assets firm Brookfield Asset Management. Ai Holdings said the acquisition will give it a complete end-to-end card issuance and fulfillment platform as well as an international network of about 150 dealers worldwide.
2 min read · 23 March 2015
Dicom Transportation Group, a portfolio investment of U.S. private equity firm Wind Point Partners, has bought Modern Forwarding. No financial terms were disclosed. KPMG LLP served as an advisor to Wind Point and Dicom on the transaction, while AIM Group Canada was a financial advisor to Modern Forwarding. Based in Windsor, Ontario, Modern Forwarding is a provider of regional truckload transport services with a focus on U.S.-Canada cross-border business. Update: The Montréal-based Dicom, a transportation and logistics company, was acquired by Wind Point in March 2014. Last November, Dicom purchased Time Logistics Couriers LLC.
3 min read · 23 March 2015
Noront Resources Ltd (TSX-V: NOT), a portfolio company of U.S. private equity firm Resource Capital Funds (RCF), has agreed to acquire shares of subsidiaries of Cliffs Natural Resources Inc (NYSE: CLF). The purchase price is US$20 million. Upon the deal's closing, Noront will hold about 360 mining claims and roughly 65 percent of the emerging mining camp known as the Ring of Fire, located 500 kilometres northeast of Thunder Bay, Ontario. Noront, which is based in Toronto, has existing assets in the region. The company said the transaction will be financed by a loan provided by Canadian gold royalty and stream firm Franco Nevada Corp.
6 min read · 23 March 2015
Several private equity firms are preparing to make offers to acquire U.S. enterprise software maker Informatica Corp, in what could be this year's largest leveraged buyout, sources told Reuters. Silver Lake Partners has teamed up with Hellman & Friedman ahead of an April deadline for final bids. Other potential bidders include Canada Pension Plan Investment Board's private equity arm, sources said.
2 min read · 23 March 2015
