Ontario Teachers' Pension Plan has appointed Dale Burgess to the position of senior managing director, infrastructure and natural resources, effective immediately. Burgess, who is based in Toronto, will oversee the pension fund's infrastructure acquisitions and asset management, as well as investments in agriculture, oil and gas, timberland and minerals. He joined the $189.5-billion Ontario Teachers' in 1996 and most recently served as managing director of the Latin America infrastructure and natural resources team.
2 min read · 01 May 2018
Algolux Inc, a Montréal-based provider of machine-learning stacks for autonomous vision and imaging, has raised about $12.8 million (US$10 million) in a Series A financing. The round was led by General Motors Ventures and joined by Drive Capital, Intact Ventures and Real Ventures. Algolux was founded in 2014 by CEO Allan Benchetrit and CTO Felix Heide, and with the support of accelerator TandemLaunch. Its technology helps vehicles and devices address challenges posed by everyday scenarios like extreme lighting and adverse weather. Algolux plans to use the funds raised to further advance its platform and pursue global business development.
4 min read · 01 May 2018
Ontario Teachers’ Pension Plan has wrapped up its sale of a majority stake in Heartland Dental, a U.S. dental support organization, to KKR. No financial terms were disclosed for the transaction, which was announced last month. Ontario Teachers’, which acquired control of Effingham, Illinois-based Heartland Dental in 2012, reportedly for about US$1.3 billion, will retain a "sizeable" interest in the company. Ontario Teachers' Senior Managing Partner, Private Capital, Jane Rowe said her organization looks forward to "our continued partnership with Heartland Dental alongside KKR.”
4 min read · 30 April 2018
Dental Corp of Canada Holdings Inc, a network of general and specialist dental clinics, has received a "significant" investment from L Catterton, a U.S. consumer private equity firm. No financial terms were disclosed. Canadian private equity firm Imperial Capital Group and OPTrust Private Markets Group, which together invested $121 million in Dental Corp in 2014, will continue to hold equity stakes, as will the company's management and dentist shareholders. Established in 2011, Toronto-based Dental Corp is today Canada's largest network of dental clinics with more than 250 separate locations servicing more than 2.5 million patient visits per year.
4 min read · 30 April 2018
Canadian family office PIC Investment Group has created CanGas Propane Inc out of 13 propane distribution branches divested from Superior Propane Corp's 2017 buy of the Canwest Propane business of Gibson Energy Inc. No financial terms were released. CanGas, which has key locations in British Columbia and Alberta, will serve the needs of new and existing residential, commercial, and oil and gas, mining and other industrial customers throughout Western Canada. PIC President and CEO Greg Yuel said his firm will support the operations of the new company as well as its customer growth strategy.
2 min read · 30 April 2018
Luxembourg's Armacell has acquired TB Concept Inc, a Montréal-based developer and maker of tool-free pipe support solutions, including the Insuguard brand. No financial terms were disclosed for the deal, which will see TB Concept's co-founder, President Martin Boudreau, and shareholders join Armacell. Armacell, a provider of flexible foam for the equipment insulation market, and a provider of engineered foams, said the acquisition will strengthen its mechanical insulation accessories business. The company was acquired in 2015 by Blackstone Group and Kirkbi A/S.
2 min read · 30 April 2018
McIntosh Perry Consulting Engineers Ltd has acquired Luiz Leon & Associates Ltd, a Surrey, British Columbia-based provider of structural engineering solutions and services to architects, developers, contractors and government clients. No financial terms were released. McIntosh Perry, an Ottawa-based diversified engineering business, said the deal expands its structural engineering capabilities in Western Canada. In January, the company acquired Calgary's ARA Engineering Ltd with the support of Canadian private equity firm Signal Hill Equity Partners, McIntosh Perry's backer since 2016.
3 min read · 30 April 2018
Fiera Infrastructure has agreed to acquire IslaLink SLU, a Spanish neutral fibre infrastructure provider that specializes in submarine fibre-optic cables and related activities. No financial terms were disclosed. The seller is EQT Infrastructure, a Swedish infrastructure investment firm, which has owned IslaLink since 2014. Established in 1999, IslaLink deploys and operates underwater cables, providing regional telecom companies with the managed bandwidth services they need for retail operations. Fiera Infrastructure, an infrastructure investment firm, is an affiliate of Montréal-based asset manager Fiera Capital Corp.
3 min read · 30 April 2018
Vancouver-based mining company Los Andes Copper Ltd (TSX-V: LA) has agreed to sell 26.8 million units to U.S. mining private equity firm Resource Capital Funds (RCF). The sale of the units, which combine common shares and warrants, is expected to generate more than $8.8 million in proceeds. They will be used by Los Andes to complete technical work on its Vizcachitas project and for other priorities. The company's 100 percent-owned Vizcachitas, located in Chile, is a copper-molybdenum porphyry deposit.
2 min read · 27 April 2018
U.K. investor Actis has bought InterGen's Mexican portfolio of businesses in a US$1.256 billion deal. The portfolio includes 2,200 megawatts in operation with six combined-cycle gas turbine projects and a 155 megawatt wind project with partner IEnova, as well as three gas compression stations and one 65-kilometre gas pipeline. InterGen, a Burlington, Massachusetts-based power generation provider, is owned by Ontario Teachers’ Pension Plan (OTPP) and China Huaneng Group–Guangdong Yudean Group. Last year, the company said its shareholders were exploring a potential sale.
3 min read · 27 April 2018
