PIP Global Holdings Inc has acquired Dynamic Safety Inc, a Laval, Québec-based maker of safety equipment and protective wear. Terms weren't disclosed. Dynamic President Claude Roberge, who founded the company in 2009, will remain actively involved. PIP Global's Canadian affiliate will operate under Dynamic. PIP Global, a Latham, New York-based supplier of consumable personal protective equipment, said the deal will build a stronger foundation for its business in Canada. PIP Global is backed by Audax Private Equity. The U.S. private equity firm recapitalized the company last year.
3 min read · 02 July 2019
Ryan LLC has acquired AEC Property Tax Inc, a Toronto-based property tax consulting business, for an undisclosed amount. Founded in 1973, AEC and its affiliates provide property tax solutions to companies in Canada's commercial, hospitality, industrial, manufacturing, mining, oil and gas, power and retail sectors. The company's team, led by CEO Gary Newell and President Robert Gagne, will join Ryan. Ryan, a Dallas-based tax services and software provider, said the deal expands its market position, client portfolio and service capabilities in Canada. Last year, Canadian private equity firm Onex Corp acquired a 42 percent interest in Ryan for US$317 million.
3 min read · 02 July 2019
Canadian energy private equity firm ARC Financial Corp has closed its ninth fund, securing $780 million. ARC Energy Fund 9 was backed by institutional investors in Canada, the United States and Europe. It will maintain ARC's longstanding strategy of investing in privately-held exploration and production and oilfield service companies located in Canada. ARC President Brian Boulanger said capital committed to Fund 9 "represents more equity than was raised for oil and gas in the Canadian public market over the last 18 months." Founded in 1989, Calgary-based ARC has raised $6 billion across nine funds since the launch of its private equity business in 1997 and has invested in more than 180 companies.
2 min read · 02 July 2019
Avison Young has acquired Völckers & Cie Immobilien GmbH Real Estate Advisors, a Hamburg, Germany-based office leasing and investment sales brokerage business. No financial terms were disclosed. Jochen Völckers and Marc Bachmann, who founded Völckers & Cie in 1996, will both join Avison as principals. Avison, a Toronto-based commercial real estate services provider, said the acquisition is its first in Germany and further expands its platform in the country. Last year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec, facilitating the exit of Parallel49 Equity.
7 min read · 02 July 2019
Hub International Ltd has acquired BenefitLink Resource Group Edmonton Holdings Inc, an Edmonton-based benefit and retirement consulting business. Terms weren't disclosed. The seller was owner Jay Kemp, who will join Hub International Barton Insurance Brokers. Hub, a Chicago-based insurance brokerage, said the acquisition reinforces its Canadian employee benefits growth and services strategy. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, joining existing owner Hellman & Friedman (H&F).
2 min read · 02 July 2019
Northleaf Capital Partners has acquired CSV Midstream Solutions Corp, a Calgary-based midstream natural gas and liquids infrastructure company. Terms weren't released for the deal, which includes the Resthaven gas processing facility and Pipestone South compressor station. CSV Midstream also announced its purchase of Paramount Resources Ltd's 6-18 natural gas facility and related assets. In a separate release, Paramount said the transaction is valued at $470 million. CSV Midstream was previously backed by Apollo Global Management. Apollo invested US$500 million in 2014 to support early development of midstream assets in the Western Canadian Sedimentary Basin.
3 min read · 02 July 2019
Knowlton Development Corp (KDC/ONE) has acquired Alkos Group, a Paris-based manufacturer of private label cosmetics products in France. No financial terms were disclosed. KDC/ONE, a Longueuil, Québec-based custom maker of beauty, health and personal care brands, said the acquisition provides it with a partner in the European market and expands its presence in the global cosmetics industry. KDC/ONE was acquired last year by a consortium led by U.S. private equity firm Cornell Capital for more than $1 billion. HarbourVest Partners was among the other investors. The seller was Canadian mid-market private equity firm Novacap, which acquired the business in 2002.
4 min read · 02 July 2019
AlayaCare, a Toronto- and Montréal-based healthcare software platform, has secured a $51 million investment, $33 million of which is new equity. The investors included Inovia Capital, which led last year's $13.8 million Series B round, as well as Caisse de dépôt et placement du Québec and Investissement Québec. Inovia Capital Growth Fund accounted for the new equity. The remaining $18 million invested purchased stock from early shareholders. Founded in 2014 by CEO Adrian Schauer, AlayaCare provides a secure, cloud-based system that helps home and community care agencies manage all aspects of their business and operations. The deal's proceeds will allow the company to scale and focus on research and development to optimize its technology.
5 min read · 02 July 2019
Fellow.app, an Ottawa-based software toolkit for managers, has closed its seed-stage financing, raising about $6.5 million. Canadian growth equity and venture capital firm Inovia Capital led the round, with participation from Felicis Ventures, Garage Capital and several angel investors. Fellow.app, launched last year by CEO Aydin Mirzaee, CTO Sam Cormier-Iijima and CPO Amin Mirzaee, has developed a cloud-based tool to help managers and their teams organize meetings, feedback and priorities.
2 min read · 01 July 2019
A consortium of Kirkbi A/S, Blackstone Group and Canada Pension Plan Investment Board (CPPIB) has agreed to acquire Merlin Entertainments plc, a Poole, U.K.-based visitors attraction business. The consortium agreed to pay 455 pence per share, valuing Merlin at £4.8 billion, or US$6.1 billion. The deal is expected to close this year. Denmark's Kirbi, owner of the Lego brand, will hold 50 percent of Merlin following the close, with Blackstone and CPPIB holding the rest. Kirbi currently has a 30 percent stake. Merlin operates more than 130 attractions, including Madame Tussauds and Legoland, 19 hotels and seven holiday villages worldwide.
8 min read · 28 June 2019
