3 min read · 05 October 2017
IAM Private Debt Group has provided a $12 million senior loan to Georgian Aircraft Corp, a Mississauga, Ontario-based provider of aircraft leasing and management services. The funds raised by the company will be used to refinance existing aircraft loans. Georgian has a 50 percent stake in Air Georgian Ltd, an airline that operates regional domestic and U.S. transborder commercial passenger flights on behalf of Air Canada. IAM Private Debt Group is an affiliate of Canadian alternative asset manager Integrated Asset Management Corp (TSX: IAM).
2 min read · 04 October 2017
Canadian private-markets investor Northleaf Capital Partners said Jeff Lucassen has joined the firm as CFO and COO. Lucassen will lead corporate financial and operational activities from Northleaf's Toronto office. He previously served as a partner at U.S. private equity firm Carlyle Group. He was also COO of Carlyle Liquid Markets, formerly known as Diversified Global Asset Management (DGAM). Lucassen co-founded DGAM in 2004 and served as the hedge fund's COO until it was acquired by Carlyle in 2014. Prior to then, he was the controller at Ontario Teachers’ Pension Plan.
2 min read · 04 October 2017
Fengate Real Asset Investments has appointed Greg Calhoun as director of U.S. infrastructure. Based in Houston, Texas, Calhoun will be responsible for infrastructure investing, investor and partner relationships, and growing the firm's portfolio of assets in the United States. He joins Fengate from BayernLB, where he mostly recently served as a senior director responsible for energy and infrastructure project finance. Based in Toronto, Fengate is an infrastructure, private equity and real estate investment firm.
3 min read · 04 October 2017
U.S. private equity firm CCMP Capital Advisors and another Jamieson Wellness Inc shareholder have increased the size of their secondary offering of shares. They plan to offer about 13 million shares at a price of 18.50 per unit, generating about $240.9 million in gross proceeds, not including the greenshoe option. That is up from a prior target of about $150.2 million. CCMP, which bought Jamieson in 2014, will as a result reduce its stake from 39.2 percent to 4.7 percent or, if the greenshoe option is exercised, to zero. Jamieson, a Canadian vitamin and natural health products company, went public in July.
4 min read · 04 October 2017
AVI-SPL Inc, a portfolio company of U.S. private equity firm HIG Capital, has acquired Sharp’s Audio Visual, a Calgary-based designer of audio visual systems for meetings, digital signage solutions, classroom technologies and lecture theatres. No financial terms were released. Founded in 1923, Sharp's has been led by President and CEO Jeff Faber. Tampa, Florida-headquartered AVI-SPL said the acquisition will enhance its ability to provide audio visual and video collaboration solutions in the Canadian market. HIG bought AVI-SPL in April 2016.
4 min read · 04 October 2017
Canadian private equity firm TriWest Capital Partners has invested in Coast Wholesale Appliances Inc, a Vancouver-based distributor and retailer of major appliances serving the builder, contractor and retail markets across Canada. No financial terms were disclosed for the growth investment, which was made in partnership with the company's senior management and existing principals, including President and CEO Gord Howie. Founded in 1978, Coast sells more than 40 brands of premium and high-end appliances through its 16 showrooms. TriWest's investment marks the seventh made by TriWest Capital Partners Fund V, which raised $500 million in 2015.
2 min read · 03 October 2017
Canadian software company Latitude Geographics Group Ltd has secured a "significant" investment from Battery Ventures, a U.S. venture capital firm. No financial terms were disclosed. Founded in 1999, Latitude provides advanced, web-based mapping software, called Geocortex, and related Geographic Information System (GIS) capabilities. Used by more than 1,400 organizations worldwide, the technology helps government and industry customers maximize their use of Esri's GIS platform. Led by CEO Steven Myhill-Jones, Victoria, British Columbia-based Latitude will use the funds raised for global growth.
3 min read · 03 October 2017
Medicure Inc (TSX-V: MPH) has sold its interest in Apicore Inc, a U.S. developer and maker of active pharmaceutical ingredients and pharmaceuticals, to an unidentified buyer. The sale will provide the Winnipeg specialty pharmaceutical company with net proceeds of about US$105 million. Medicure acquired Apicore over 2014-2017, assuming a majority position last year with the help of a $60 million loan provided by Canadian specialty finance firm Crown Capital Partners and the Ontario Pension Board. Prior to then, Signet Healthcare Partners and other investors helped fund the acquisition.
3 min read · 03 October 2017
Capital régional et coopératif Desjardins (CRCD), a Québec retail private equity and venture capital fund, has accounted for $161.7 million in its 2017 fundraising year. The subscription level exceeded the $135 million ceiling set by the Québec government for tax-subsidized share sales. Montréal-based CRCD, which has more than 101,000 shareholders and manages net assets of more than $1.8 billion, reports committing $110 million to deals in the first half of 2017. Last year, Luc Ménard was appointed COO of the fund's manager, Desjardins Business Capital régional et coopératif.
3 min read · 03 October 2017
