Canadian private-markets investor Northleaf Capital Partners has hired Matt Shafer as a managing director on the firm’s private equity team. Shafer will focus on the origination and execution of secondary opportunities from Northleaf's new office in New York, which is scheduled to open this spring. He will lead the office and a team that includes Brad Blowes and Mitch Reeves, who are relocating from the firm's Toronto headquarters. Shafer joins Northleaf from Vision Capital, where he served as a partner and head of the Americas operation. He was previously a managing director at Nomura International.
4 min read · 06 February 2018
Brookfield Asset Management‘s Public Securities Group (PSG) has closed its acquisition of Center Coast Capital Holdings LLC, a Houston-based energy infrastructure-focused investment firm. No financial terms were released. As part of the deal, Brookfield PSG also bought certain assets of New York-based Liberty Street Advisors and two of its affiliates. The units are third-party marketing and servicing agents of Center’s products to investment firms. Brookfield PSG and Coast announced the acquisitions in October.
5 min read · 05 February 2018
Agility Health Inc (TSX-V: AHI), a rehabilitation solutions provider, has agreed to sell 100 percent of its U.S.-based assets to an affiliate of Alliance Physical Therapy Partners LLC. The deal, which values Agility's U.S. operations at US$45 million, is expected to close this month. With the close, Alaris Royalty Corp, a Canadian alternative equity firm that invested in Grand Rapids, Michigan-based Agility in 2012, will receive gross proceeds of US$26.67 million. Agility's Canadian division is Medic Holdings Corp. Tampa, Florida-based Alliance, a network of physical therapy practices, is backed by U.S. private equity firm GPB Capital Holdings.
2 min read · 05 February 2018
Canada Pension Plan Investment Board announced the forthcoming departure of three senior executives, two of whom are retiring. Nick Zelenczuk, senior managing director and COO, who joined CPPIB in 2009, will retire effective May 31st. Graeme Eadie, who last year stepped back from his role as global head of real assets, will retire effective March 31st, but will stay on as an advisor. Eric Wetlaufer, senior managing director and global head of public market investments, who joined CPPIB in 2011, will also leave as of May 31st. CPPIB is conducting an assessment of potential successors.
3 min read · 05 February 2018
Canada Pension Plan Investment Board announced the forthcoming departure of three senior executives, two of whom are retiring. Nick Zelenczuk, senior managing director and COO, who joined CPPIB in 2009, will retire effective May 31st. Graeme Eadie, who last year stepped back from his role as global head of real assets, will retire effective March 31st, but will stay on as an advisor. Eric Wetlaufer, senior managing director and global head of public market investments, who joined CPPIB in 2011, will also leave as of May 31st. CPPIB is conducting an assessment of potential successors.
3 min read · 05 February 2018
The principals of Serruya Private Equity and Delavaco Capital will acquire a portion of Aphria Inc's (TSX: APH) stake in Liberty Health Sciences Inc, an investor and operator in the U.S. medical cannabis market. The buyers will initially acquire all of Aphria's shares in the company that are not subject to exchange escrow requirements over the next two and a half years. The shares are being sold for $1.25 per unit. The deal includes the potential for Serruya principals and Delavaco to buy additional Aphria-held shares. Liberty was launched in 2017 via a merger and a $60 million private placement backed by Aphria, a Canadian cannabis producer, as well as Serruya.
5 min read · 05 February 2018
Fairfax Financial Holdings has agreed to buy certain assets and assume certain liabilities of Carillion Canada Holdings Inc, an affiliate of U.K. construction giant Carillion PLC. No financial terms were disclosed for the deal, which is expected to close in Q1 2018. It will see Fairfax acquire Carillion Canada's services business relating to facilities management of airports, commercial and retail properties, defense facilities, select healthcare facilities, and on behalf of oil, gas and mining clients. Carillion Canada filed for creditor protection last month following the forced liquidation of its parent. Fairfax, a Toronto-based holding company, is led by billionaire Prem Watsa.
2 min read · 05 February 2018
Toronto-based aesthetic technology company Venus Concept Ltd has agreed to buy the hair restoration business of Lewisville, Texas-based NeoGraft Solutions. No financial terms were disclosed for the deal, which is expected to close this month. Venus Concept said the acquisition will broaden its customer base and product portfolio and spur growth plans for 2018. Founded in 2009, Venus Concept last year raised about $48 million in a financing led by EW Healthcare Partners and joined by HealthQuest Capital and Madryn Asset Management. It is also backed by Longitude Capital.
3 min read · 02 February 2018
Vertex Resource Group Ltd (TSX-V: VTX) has acquired the business of HMA Land Services, a Calgary-based provider of project management services to the energy industry. No financial terms were released. Vertex, a Sherwood Park, Alberta-based provider of environmental and industrial services, said the deal will strengthen the company's land consulting practice, with a focus on pipeline, utility and mineral land projects. Vertex, which acquired Sonic Oilfield Services Ltd in January, gained a public listing last year with the backing of Canadian energy private equity firm 32 Degrees Capital.
2 min read · 02 February 2018
Canadian private equity firm Fusion Agiletech Partners has acquired Quisitive LLC, a Dallas-based full-service digital technology consulting business. No financial terms were released. The buy will fund investments in blockchain product innovation and acquisitions of IT service companies that support Quisitive’s North American growth strategy over the next two years. With the deal, Fusion Agiletech becomes the parent company of Quisitive and will be led by Mike Reinhart, Quisitive’s CEO and president. Reinhart will help steer Toronto-based Fusion Agiletech’s plans to go public in Canada in 2018.
3 min read · 02 February 2018
