Canada Pension Plan Investment Board (CPPIB) has invested in Visma Group, an Oslo, Norway-based provider of business software and services in Europe. No financial terms were released for the deal, which will see CPPIB realize a part of the investment held by U.K. technology private equity firm HgCapital, Visma's majority shareholder. The company's other investors include Cinven, GIC, Intermediate Capital Group and Montagu Private Equity. Established in 1996, Visma serves about 800,000 private and public sector enterprise customers in the Nordic, Baltic and Benelux regions.
2 min read · 23 January 2019
Syntax Systems has agreed to acquire Freudenberg IT (FIT), a Morrisville, North Carolina-based cloud provider and information technology service provider. Terms weren't released for the deal, which is expected to close in Q1 2019. FIT, which manages SAP applications in the cloud for global enterprise customers, is being sold by Freudenberg Group, a German technology conglomerate. Canadian mid-market private equity firm Novacap, which acquired Syntax in 2016, provided equity financing for the transaction. Montréal-based Syntax is a provider of cloud-managed enterprise resource planning (ERP) services. It said the buy will extend its reach to the SAP ecosystem and create growth opportunities in Europe and Asia.
4 min read · 22 January 2019
Public Sector Pension Investment Board (PSP Investments) has invested in Alliant Insurance Services Inc, a Newport Beach, California-based specialty insurance brokerage. Terms weren't disclosed for the deal, which will see U.S. financial services private equity firm Stone Point Capital, the company's largest institutional shareholder, add to its investment. Following the transaction, Alliant's management and producers will continue to own the majority of the business. PSP Managing Director Martin Longchamps said the Canadian pension fund's investment will support Alliant's continued growth.
3 min read · 22 January 2019
Thoma Bravo is preparing for an initial public offering (IPO) or sale of Trader Corp, an Etobicoke, Ontario-based digital automotive marketplace, according to a report by the Globe and Mail. Sources told the Globe and Mail that Thoma Bravo is expected to launch an IPO in the next six weeks that would allow it to sell a portion of its interest in Trader. The U.S. private equity firm is also willing to sell the entire company if a buyer steps forward, the sources said. Thoma Bravo recently hired a syndicate of investment banks to advise on a potential IPO or sale, the report said. Thoma Bravo acquired Trader in 2016 for about $1.57 billion. The seller was U.K. private equity firm Apax Partners.
1 min read · 21 January 2019
Cooper Equipment Rentals Ltd has acquired Star Rentals Ltd, a Surrey, British Columbia-based equipment rental company. No financial terms were disclosed. Doug Johnson, president and owner of Star Rentals, will assume a senior role with Cooper, a Mississauga, Ontario-based provider of compact, aerial and heavy construction and industrial equipment. Cooper said the acquisition facilitates its entry into the B.C. market and brings it closer to establishing a Canada-wide network of branches. Cooper, which currently operates 39 rental locations, was acquired in 2013 by Canadian private equity firm SeaFort Capital.
3 min read · 21 January 2019
Fengate Asset Management, on behalf of Labourers’ Pension Fund of Central and Eastern Canada (LiUNA), has provided follow-on financing to NRStor C&I, a Toronto-based developer of behind-the-meter energy storage solutions. Terms weren't disclosed for the deal, which saw Fengate and Lake Bridge Capital also invest. NRStor C&I, an affiliate of NRStor Inc, serves energy consumers in the commercial and industrial segments. It will use the proceeds to strengthen its presence in the Canadian market. Two years ago, LiUNA agreed to supply NRStor with $11 million in financing as well as access to $200 million in additional capital. Fengate is managing the investment.
3 min read · 21 January 2019
Harrison Street Real Estate Capital has sold Ecla Paris, a French student accommodation property, to Canadian alternative asset manager Brookfield Asset Management. No financial terms were disclosed. Ecla Paris, a 1,200-plus-bed facility located at the University of Paris-Saclay campus, was developed by a joint venture of Harrison Street and HPC Group. Harrison Street is a U.S. real estate investment management firm focused on the education, healthcare and storage sectors.
2 min read · 17 January 2019
The parent company of Kissner Group, a Kitchener, Ontario-based bulk, specialty packaged and evaporated salt producer, has acquired NSC Minerals Ltd, a Saskatoon-based provider of salt and calcium chloride products. Terms weren't disclosed. The seller was Canadian private equity firm Altas Partners, which acquired NSC in 2013 from Wynnchurch Capital. NSC, which provides salt for deicing, industrial and agricultural applications, will continue to operate under its existing brand as a Kissner affiliate. Kissner is backed by U.S. private equity firm Metalmark Capital and a vehicle led by Silverhawk Capital Partners and Demetree Salt LLC. Metalmark led the 2015 acquisition of Kissner from TorQuest Partners.
4 min read · 17 January 2019
Caisse de dépôt et placement du Québec has provided growth capital to Metro Supply Chain Group (Metro SCG), a Montréal-based provider of customized logistics services and supply chain solutions. No financial terms were disclosed for the deal, which adds to an investment made by the Caisse last April. Metro SCG will use the proceeds to execute its growth strategy, which targets acquisitions, new markets and further global expansion. It will give particular focus to e-commerce opportunities. Established in 1974 by CEO Chiko Nanji, Metro SCG moves more than $20 billion in goods each year through its logistics centres located in North America and Europe.
3 min read · 16 January 2019
PerfectServe has acquired Telmediq, a Victoria, British Columbia-based secure communications platform for the healthcare sector. Terms weren't released. Founded in 2012 by CEO Ben Moore, Telmediq has its U.S. office in Seattle, Washington. PerfectServe, a Knoxville, Tennessee-based provider of clinical communication and collaboration solutions, said together the companies have more than 500,000 clinical users across 250 hospital sites and 27,000 physician practices and post-acute care organizations. Last year, PerfectServe was acquired by K1 Investment Management, a U.S. enterprise software private equity firm.
5 min read · 16 January 2019
