Canadian junior capital provider Penfund has closed a US$150 million second lien debt investment in Caliber Collision Centers, a Lewisville, Texas-based auto collision repair business. The investment was part of a US$600 million second lien credit facility. The proceeds of this facility, together with the proceeds of a US$1.85 billion first lien term loan and US$300 million revolving credit facility, were used to fund Caliber’s merger with Abra Auto Body Repair of America. The merger, closed earlier this month, saw Hellman & Friedman (H&F) emerge as the majority investor. In December, Penfund wrapped up its sixth mid-market fund, Penfund Capital Fund VI, raising $1.15 billion.
3 min read · 14 February 2019
3 min read · 14 February 2019
Talemetry, a Vancouver-based recruitment marketing platform, has been acquired by K1 Investment Management, a U.S. enterprise software private equity firm. The acquisition is part of a US$200 million ($266 million) deal that includes K1's buy of three other technology companies focused on the recruitment industry. They include San Mateo, California-based recruiting software provider Jobvite. The companies will be combined to form an end-to-end candidate-centric software platform serving hiring teams. Founded in 1999 and led by CEO Jade Bourelle, Talemetry provides solutions that help enterprises manage the marketing of their open jobs across all channels.
5 min read · 14 February 2019
Doxim has acquired Market Connections Inc, a Toronto-based provider of customer communications and campaign management technology to wealth managers and other financial services firms. Terms weren't disclosed. Doxim, a Toronto-based provider of customer communications and engagement technology to financial and regulated markets, said the deal expands its footprint in North America's wealth management and banking spaces. Last year, U.S. private equity firm GI Partners acquired a majority stake in Doxim. The seller was Strattam Capital, which acquired the company in 2014.
3 min read · 13 February 2019
2 min read · 13 February 2019
Hub International Ltd has acquired the assets of Firstbrook Pointon Benefits Inc, a Toronto-based employee benefits consulting company. No financial terms were released. Firstbrook Pointon Benefits President Bob Pointon will join Hub Ontario, while CEO John Firstbrook, who also heads John T. Firstbrook Insurance Agencies Ltd, will partner with the Hub division. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, a Chicago-based insurance brokerage, joining existing owner Hellman & Friedman.
3 min read · 12 February 2019
Canadian private equity firm Chrysalis Acquisition Partners has acquired a majority stake in Phoenix Imports Inc, a Surrey, British Columbia-based importer and distributor of all-natural meat and bone dog treats. No financial terms were disclosed. Operating through two brands, Open Range and Exeter Farms, Phoenix sources a network of global suppliers for products sold at more than 1,000 specialty pet retailers in Canada. Phoenix Founder and President Shaun White said the partnership with Chrysalis will help build on growth opportunities "represented by the highly robust North American pet supply market and the rapidly growing neighbourhood pet retailer niche in particular."
3 min read · 12 February 2019
Westcap Management, a Saskatoon-based private equity and venture capital firm, has raised $103 million in committed capital in the close of its second management buyout (MBO) fund. Westcap MBO II Investment LP, which exceeded its $100 million target, was backed by a series of offerings to high-net-worth and institutional investors. Fund I raised $57 million in 2015. Fund II will provide succession and growth capital to companies in Western Canada engaged in transition, consolidation or merger and acquisition activity. Founded almost three decades ago by President and CEO Grant Kook, Westcap reports completing more than $1 billion in transactions involving over 200 companies.
3 min read · 11 February 2019
GTI Transport Solution Inc has acquired Precision Specialized Division Inc (PSD), a Woodbridge, Ontario-based open-deck and heavy haul transportation affiliate of Precision Truck Lines Inc. No financial terms were released. GTI, a Dorval, Québec-based provider of transport solutions, said the deal will enable its growth in North America's open-deck and heavy haul transportation market. The company added that PSD's operations will move to Brantford, Ontario under the name Precision Specialized Inc (PSI). Ed Bernard, formerly VP of PSD, will serve as PSI's president. GTI was acquired in 2014 by the industries group of Canadian mid-market private equity firm Novacap.
3 min read · 11 February 2019
Canadian private equity firm Lynx Equity has acquired Alpine Shredders Ltd, a Kitchener, Ontario-based designer and builder of mobile shredding trucks. No financial terms were disclosed. The seller was President George Doerr, who co-founded Alpine in 2004 and has been its sole owner since 2015. Doerr will remain with the company. Lynx Vice President Eric Persi said the acquisition marks his firm's entry into the document destruction industry. In November, Lynx acquired Integrity Signs Inc, a Calgary-based signage provider.
2 min read · 11 February 2019
