Kirk Falconer

BCI joins Francisco Partners in $3.4 bln buy of Verifone

Verifone Systems Inc (NYSE: PAY), a U.S. provider of payments and commerce solutions at the point of sale, has agreed to be acquired by an investor group led by U.S. private equity firm Francisco Partners. The investor group, which includes British Columbia Investment Management Corp (BCI), will buy Verifone for US$23.04 per share in cash, representing a total consideration of about US$3.4 billion, including net debt. The company's board has approved the take-private deal, which includes a go-shop period. It is expected to close in the third quarter. Founded in 1981, Verifone is based in San Jose, California.

Walter Capital acquires majority stake in Plasticase

Canadian private equity firm Walter Capital Partners has acquired a majority stake in Plasticase Inc, a Montréal-based specialty and protective carrying-case products maker. No financial terms were released. Jean-Pierre Grenier, Plasticase's founder and CEO, will remain as a minority shareholder. Established in 1984, Plasticase designs and manufactures products under its PLASTICASE and NANUK brands, serving such global industries as law enforcement, military, medical technology and specialty packaging value-added re-sellers. The company said the partnership with the recently recapitalized Walter Capital will help it undertake a next phase of growth.

Caisse invests in Kintavar's $15 mln private offering

Boucherville, Québec-based mining company Kintavar Exploration Inc (TSX-V: KTR) has raised an initial $2.5 million of a proposed $15 million private placement deal. Caisse de dépôt et placement du Québec invested in the first tranche, the company said. Kintavar, which explores and develops precious metals and base metals properties in Québec, said the proceeds will be used for an upcoming drilling program at its Mitchi copper project located in the Laurentian region. It will also use the proceeds for working capital purposes.

Underwear brand BN3TH wins funding from Seaspan chair

Vancouver-based underwear brand BN3TH Apparel has secured an undisclosed investment from Kyle Washington, executive chairman of Seaspan Marine Corp (NYSE: SSW), a Canadian marine transportation business. Founded as MyPakage in 2010 by Dustin Bigney and Dez Price, BN3TH designs and makes men's underwear and related apparel and accessory items sold online and via retailers in North America, Europe, South East Asia and Australasia. It said the partnership with Washington will support its global growth plans. BN3TH also announced the appointment of Ken Barker, formerly an Adidas AG executive, as CEO.

H&F’s Hub International buys shares of ES3 Advisory

Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the shares of ES3 Insurance Services Ltd, which does business as ES3 Advisory. No financial terms were released. Based in Vancouver, ES3 Advisory is an employee benefits and pension consulting company. Led by Faizal Mitha, vice president of employee strategies, the business will join Hub International TOS Ltd. Hub, a Chicago-based insurance brokerage, was acquired by H&F for about US$4.4 billion in October 2013.

HanMac Capital-backed AXYZ acquires WARDJet

AXYZ International Inc has acquired WARDJet Inc, a Tallmadge, Ohio-based designer and maker of tailored waterjet cutting solutions used in a range of industries. No financial terms were disclosed. AXYZ, a Burlington, Ontario-based maker of computer numerical control (CNC) router and knife cutting systems, said the deal facilitates its entry into the waterjet industry. AXYZ, founded in 1991, now has 13 owned-and-operated offices in Canada, the United States, Europe and India and plans to open additional offices. The company was acquired last year by HanMac Capital Corp, a Canadian family office.

Brightspark to tap more investors via Richardson GMP deal

Brightspark has struck a deal with Canadian wealth manager Richardson GMP Ltd to give more domestic accredited investors an opportunity to participate in the venture capital asset class. Brightspark, a Canadian early-stage venture capital firm, operates a software platform that allows thousands of high-net-worth individuals to select technology investments online. As a result of the deal, Toronto-based Richardson GMP is the first wealth management firm to provide its clients with access to the platform. Brightspark, profiled by PE Hub Canada in February, aims to extend its strategy through similar agreements with other financial services firms.

Fulcrum Capital acquires stake in Accucam Machining

Canadian private equity firm Fulcrum Capital Partners has acquired an equity ownership position in Accucam Machining, a Cambridge, Ontario-based supplier of steel parts to heavy equipment makers in global material handling, agricultural and construction industries. No financial terms were disclosed. Fulcrum said it will partner with the company's founders to support further growth initiatives. Established in 1987 and led by President Nick Eelhart, Accucam has production facilities at its Canadian headquarters and in Qingdao, China. It represents the seventh platform investment of Fulcrum Capital Partners V, which raised $344 million in 2015.

InstarAGF buys auto processor Amports from Lincolnshire

InstarAGF Asset Management has acquired Amports Inc, an automotive port logistics and processing company based in Jacksonville, Florida. No financial terms were disclosed. Morrison & Foerster represented InstarAGF on the deal. The seller was Lincolnshire Management. Lincolnshire bought the company from Highstar Capital in 2014.

Georgian Partners raises bulk of $500 mln Fund IV, doubles GP team