Cobalt 27 Capital Corp (TSX-V: KBLT) has agreed to acquire all of the shares it does not already own in Highlands Pacific Ltd (ASX: HIG), a Brisbane, Australia-based mining and exploration company. The deal is valued at $96 million. It is expected to close in Q2 2019. Highlands' primary assets include a 8.56 percent stake in the Ramu nickel-cobalt mine located in Papua New Guinea. Cobalt 27, a Toronto-based electric metals investment vehicle, said the acquisition will increase its exposure to nickel and cobalt production. Cobalt 27 is backed by Swiss mining private equity firm Pala Investments.
10 min read · 03 January 2019
Total Safety has acquired Pivotal Safety, a Bonnyville, Alberta-based provider of industrial safety services, personnel and equipment. No financial terms were disclosed. Glenn Roberts, formerly Pivotal Safety's president, will lead the combined company’s Canadian unit and assume the role of vice president, Total Safety Canada. Total Safety, a Houston-based provider of industrial safety services, equipment and compliance solutions, said the deal increases its footprint in Western Canada. Total Safety was acquired last year by U.S. mid-market private equity firm Littlejohn & Co. It was previously owned by Warburg Pincus.
2 min read · 03 January 2019
U.S. private equity firm Carlyle Group has closed its acquisition of a majority interest in Sedgwick, a Memphis, Tennessee-based provider of insurance claims management services. The US$6.7 billion deal was announced in September 2018. The sellers were KKR and other shareholders. Stone Point Capital and Caisse de dépôt et placement du Québec, together with Sedgwick management, remain minority investors. The Caisse, a Canadian pension system, invested US$500 million in the company in 2016.
3 min read · 02 January 2019
Aralez Pharmaceuticals Inc (TSX: ARZ) has wrapped up the sale of its Vimovo royalties and operations in Canada to Nuvo Pharmaceuticals Inc (TSX: NRI) for about $150 million (US$110 million). The deal, announced in August 2018, is part of the company's plan to sell its primary assets for about $326 million (US$240 million) and wind down operations. Nuvo, a Toronto-based healthcare business, completed the acquisition with financing supplied by Deerfield Management, a U.S. healthcare investor. Aralez launched in 2016 through a merger backed with US$350 million in Deerfield-led commitments.
3 min read · 02 January 2019
AT&T Inc (NYSE: T) has completed the sale of data centre colocation operations and assets to Brookfield Infrastructure and its institutional partners. As a result of the deal, which was announced in June 2018, AT&T received proceeds of US$1.1 billion. Brookfield has created a new company, Evoque Data Center Solutions, to own and operate the assets. As part of a strategic partnership between AT&T and Brookfield, Evoque will join the former's global colocation ecosystem program, which provides business customers with access to more than 350 data centres.
3 min read · 02 January 2019
Foley’s Candies LP has acquired Brockmann’s Chocolates, a Delta, British Columbia-based chocolate manufacturer. No financial terms were disclosed for the December deal, which saw Foley’s buy the company from the Brockmann family. Kathrin Brockmann will join Foley’s as vice president of customer relations and innovation. Foley's, a Vancouver-based maker of chocolate and confectionary products, said the acquisition will provide significant complementary product and manufacturing resources. Foley’s has been backed since 2016 by Canadian mid-market private equity firm Yellow Point Equity Partners.
3 min read · 02 January 2019
LynX Inspection, a Québec City-based provider of industrial inspection solutions, has raised more than $1 million in its first financing. The round, announced last month, was backed by members of Anges Québec, Anges Québec Capital, Fonds Innovexport and ACET Capital. Founded in 2016, LynX's technology combines three-dimensional analysis and X-ray imaging to rapidly inspect manufactured parts and detect defects. It is targeting opportunities in the aerospace, automotive and defence sectors. President and CEO Luc Perron said the funds raised will help the company move from R&D to commercialization and increase its global profile.
4 min read · 02 January 2019
Boosted, a Mountain View, California-based producer of last-mile electric vehicles, including the Booster board, has raised US$60 million in a Series B financing. The round, which brings total funding to more than US$70 million, was led by Canadian venture capital firm iNovia Capital and U.S. firm Khosla Ventures. They were joined by Series A investors. Patrick Pichette, an iNovia general partner, will take a preferred board seat. Boosted said it will use the funds raised for global growth and to introduce new products that leverage the company's light electric vehicle technology.
3 min read · 21 December 2018
Duravant LLC has acquired Wulftec International Inc, an Ayer’s Cliff, Quebec-based maker of customizable automation solutions for end-of-line packaging applications. No financial terms were disclosed. The seller was M.J. Maillis Group, a Luxembourg-based packaging solutions provider backed by U.S. private equity firm HIG Capital. Duravant, a Downers Grove, Illinois-based engineered equipment company, said the transaction expands its end-of-line packaging automation portfolio. Duravant was acquired last year by U.S. private equity firm Warburg Pincus.
3 min read · 21 December 2018
Oxford Living LLC, a Canadian senior housing platform, has launched with the acquisition of nine mid-market retirement communities. The deal is valued at C$100 million. Oxford Capital Group, a real estate private equity firm, partnered in the consolidation and platform launch with Starr Insurance Holdings, an insurance and investment firm. The nine communities acquired, all located in Ontario, feature 648 suites.
4 min read · 21 December 2018
