Refresco Group NV, a Dutch bottler of beverages for retailers and branded players, said its shareholders have approved the proposed acquisition of the company by PAI Partners and British Columbia Investment Management Corp (bcIMC). The deal, announced last year, reflects a cash offer of about US$1.9 billion (EUR 1.6 billion) and is expected to close later this month. Refresco has conditionally appointed bcIMC Senior Vice President, Private Equity, Jim Pittman and Senior Portfolio Manager Julian Remedios, as well as PAI representatives, to its supervisory board.
3 min read · 05 March 2018
QuadReal Property Group, a real estate investment, development and management firm, has hired Jay Kwan as managing director, Europe, and Jameson Weber as global head of special situations. Kwan formerly held senior positions at TPG Real Estate, Grove International Partners and Soros Private Funds Management, while Weber held senior positions at Hightower, Oaktree Capital Management and Cerberus Capital Management. Vancouver's QuadReal was launched in 2016 by British Columbia Investment Management Corp (bcIMC) to oversee the pension fund's global real estate investment portfolio.
3 min read · 05 March 2018
Spin Master Corp (TSX: TOY) has agreed to acquire plush toy maker GUND from Enesco LLC, an Itasca, Illinois-based giftware, home and garden décor business. Spin Master, a Toronto-based children's entertainment company, agreed to pay about $102 million (US$79.1 million) for GUND in a deal expected to close on April 1. Ben Gadbois, Spin Master's global president and COO, said the acquisition will help diversify the company's product line and open up opportunities for broader distribution. Enesco is a portfolio investment of U.S. private equity firm Balmoral Funds. Balmoral acquired the company in 2015.
4 min read · 05 March 2018
Smart Employee Benefits Inc (TSX-V: SEB) has closed a private placement offering, generating $3 million in gross proceeds. The investor was Golden Opportunities Fund, a retail venture capital fund managed by Westcap Management. Founded in 2011, Mississauga, Ontario-based SEB specializes in cloud software-as-a-service solutions for managing the benefit plans of employers and governments. The company said the deal strengthens its balance sheet and working capital and will support business development initiatives in Saskatchewan and Manitoba, where Golden invests.
5 min read · 05 March 2018
BayMark Health Services has acquired Canadian Addiction Treatment Centres (CATC), a Markham, Ontario-based opioid addiction treatment provider. No financial terms were disclosed for the deal, which includes 72 opioid treatment programs, 19 pharmacies and a residential treatment centre. Lewisville, Texas-based BayMark said the deal brings its North American network of opioid addiction treatment service locations to 167. CATC will retain its name and management team, led by CEO Cam Crawford. BayMark is a portfolio company of U.S. private equity firm Webster Capital.
3 min read · 05 March 2018
Toronto industrial internet-of-things platform ThoughtWire Corp has raised $20 million in a debt and Series A financing. Yaletown Partners led the round and was joined by BDC Capital, Round13 Capital, Epic Capital and Comerica. Founded in 2009, ThoughtWire's Ambiant platform helps make buildings, cities, hospitals and workplaces smarter, safer and more energy efficient by interconnecting and orchestrating people, workflows, data and things. Led by CEO Michael Monteith, the company will use the funds raised for geographic growth and team expansion. ThoughtWire is the first Ontario investment of the recently launched Yaletown Innovation Growth Fund.
4 min read · 05 March 2018
Canadian private equity firm Acasta Enterprises has entered into an amending agreement to its US$150 million credit facility to facilitate the sale of Stellwagen Group Ltd, an Irish aviation finance advisory and asset management business. The agreement required that Acasta repay US$25 million to lenders by no later than March 1, 2018, the funding of which was to be derived from the sale. Stellwagen, which Acasta acquired last year, is being sold to Martello Finance Co Ltd in exchange for the cancellation of Acasta shares held by Martello and others plus US$35 million. Acasta will retain a US$47.4 million loan portfolio.
2 min read · 02 March 2018
Logistec Corp (TSX: LGT.A, LGT.B) has acquired Gulf Stream Marine Inc, a Houston-based marine terminal operator and cargo handling company. Logistec acquired the company's parent organization for about $83.9 million (US$65.7 million) in cash. The seller is U.S. private equity firm CapStreet Group, which recapitalized Gulf Stream in 2012. Logistec, a Montréal-based provider of cargo handling and port logistics services through facilities in eastern North America, said the deal expands its network of U.S. terminals and gives it a stronghold in the U.S. Gulf Coast region. Logistec is led by President and CEO Madeleine Paquin.
3 min read · 01 March 2018
Cayuse has bought Process Pathways Inc, a Calgary-based research administration software company with customers that support Canadian universities, colleges and health institutions. No financial terms were disclosed. Portland, Oregon-based Cayuse said the deal will extend its reach as a North American electronic research administration provider. Led by President Gordon McDonald, Process will continue to operate independently as a Cayuse affiliate. Cayuse was last year spun out of Evisions Inc as a standalone business owned by U.S. private equity firm Quad Partners.
2 min read · 01 March 2018
GFL Environmental Inc has acquired Smithrite Disposal and Carney's Waste Systems, both solid waste service providers operating in British Columbia. No financial terms were released. GFL, a Toronto-based environmental services company, said the deal will extend its existing solid and liquid waste operations in the province. Gordon Smith, president of Smithrite and Carney's and son of the original founders, will remain to continue building the combined entity. GFL, which is reportedly planning a 2018 initial public offering, is backed by HPS Investment Partners, Macquarie Group and Hawthorn Equity Partners.
2 min read · 01 March 2018
