Armand Agra Inc has bought MacDonald Meat Co LLC, a Seattle, Washington-based supplier of meat products to restaurants, hotels and food service customers in the U.S. Pacific Northwest and an exporter to the Pacific Rim. No financial terms were released. Armand Agra, a Reno, Nevada-based meat and seafood processor and distributor, was acquired last year by Founders Group of Food Companies, a Canadian family office. It forms part of Founders' specialty protein platform. Founders Managing Director Derek Senft, who led the MacDonald Meat deal, said it will help Armand Agra expand its business into the Pacific Northwest.
3 min read · 17 September 2018
Caisse de dépôt et placement du Québec has agreed to acquire a 40 percent stake in CLP India Private Ltd, an Indian power generation affiliate of Hong Kong-based CLP Holdings Ltd. The Caisse agreed to pay 26.4 billion rupees ($476 million) in cash for the stake. CLP will hold the remaining interest. The deal will allow CLP India to expand its investments in low-carbon growth areas in India, CLP said. These areas include renewable energy as well as non-generation opportunities in transmission, distribution and other customer-focused businesses.
5 min read · 14 September 2018
Sim Video International Inc, a Toronto-based provider of solutions to the television and film industries, has agreed to be acquired by Saban Capital Acquisition Corp (Nasdaq: SCAC), a U.S. special purpose acquisition company (SPAC). The deal will see Sim combined with Woodland Hills, California-based Panavision Inc to create a provider of end-to-end production and post-production services to the entertainment sector. The transaction values the combined entity at US$622 million, including debt. Established in 1982, Sim is led by President and CEO James Haggarty. The company has been backed since 2013 by Canadian private equity firm Granite Partners.
7 min read · 14 September 2018
U.S. live event management platform Vendini has acquired Boxxo, a ticketing software company based in Montréal. No financial terms were disclosed. Founded in 2000 by President Bernard Boissonneault, Boxxo helps theatre, cultural, sports and leisure organizations in Québec sell tickets. San Francisco-based Vendini said the acquisition expands its customer base and footprint in the Canadian market. Vendini is backed by Level Equity Management, a U.S. growth equity firm.
3 min read · 13 September 2018
Embotics, an Ottawa-based provider of multi-cloud management software, has entered into a credit facility agreement with CIBC Innovation Banking. No financial terms were released. Founded in 2006 by President Jay Litkey and led by CEO Michael Torto, Embotics' platform helps enterprise information technology and managed service providers to automate and control their virtualized and cloud environments. The funds raised will support the company's client acquisition and growth in new markets. Embotics' investors include U.S. growth equity firm Arrowroot Capital, which invested $12.1 million in 2016.
2 min read · 13 September 2018
QEP has agreed to acquire the hard surface and carpet tile distribution business of Canada’s Kraus Group of Cos, according to a news release. Terms weren’t disclosed. U.S.-based QEP said Kraus is seeking approval for the deal under the Companies Creditor’s Arrangement Act in Canada and the U.S. Bankruptcy Court. The transaction is expected to be completed next month. Kraus, a Waterloo, Ontario-based carpet and flooring maker and distributor, has been backed since 2012 by Hilco Capital, a U.K. private equity firm. Hilco acquired $130 million of Kraus debt and security from a syndicate of secured lenders.
1 min read · 13 September 2018
U.S. consumer private equity firm Swander Pace Capital has acquired Fine Choice Foods, a Richmond, British Columbia-based developer, maker and distributor of fresh and frozen Asian-flavoured appetizers. No financial terms were released. Founded in 1986 by the Lui family, Fine Choice's products, including items under its Sum-m! brand, are distributed through retail and food service channels in Canada and the United States. Michael Axelrod, head of U.S.-based Passport Food Group, acquired last year by Swander Pace, will serve as Fine Choice's CEO. Swander Pace, which has an office in Toronto, invested in Fine Choice through SPC Partners VI, which raised US$510 million in 2016.
4 min read · 13 September 2018
Just Energy Group Inc (TSX, NYSE: JE) has entered into a non-revolving multi-draw senior unsecured term loan facility of about $325 million (US$250 million). The financing group is led by Canadian direct credit financing firm Sagard Credit Partners (SCP). Toronto-based Just Energy is a consumer company specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options. It will use the proceeds to pay down the company’s credit line, acquisitions and other priorities. SCP, an affiliate of Power Corp's investment arm Sagard Holdings, earlier this year raised $325 million in the first close of its debut credit fund.
5 min read · 13 September 2018
Canadian healthcare private equity firm DW Healthcare Partners (DWHP) has sold Reliant Rehabilitation, a Plano, Texas-based provider of rehabilitative therapy services to patients in U.S. long-term care facilities. No financial terms were released for the deal, which saw the company go to HIG Capital, a U.S. private equity firm. DWHP has backed Reliant since 2011. The transaction comes on the heels of another DWHP exit. In August, the firm sold PRIME Education, a Fort Lauderdale, Florida-based healthcare education and research company.
2 min read · 13 September 2018
Bonfire Interactive Ltd, a Waterloo-based public sector sourcing technology provider, has agreed to be acquired by GTY Technology Holdings Inc (Nasdaq: GTYH) for about $140 million (US$108 million). The deal, expected to close in Q1 2019, will see Bonfire merge with five other platforms, creating a listed North American software company focused on the government sector. Bonfire was founded in 2012 CEO Corry Flatt and CTO Alex Millar. Last year, the company closed an $11 million Series A financing led by Battery Ventures and joined by Crosslink Capital and Spider Capital. GTY, a U.S. special purpose acquisition company (SPAC), raised US$552 million in its initial public offering in 2016.
4 min read · 12 September 2018
