Corob SpA has acquired Novaflow Systems Inc, a Prescott, Ontario designer and maker of automated dispensing systems servicing a range of markets, including paints, printing inks, coatings, dyes, oils and chemicals. No financial terms were released for the deal, which closed earlier this month. Italy's Corob, a supplier of advanced tinting equipment to the global paints and coatings industry, said the acquisition will create synergies, expand its product offering, and help introduce it to new markets. Corob was acquired in 2016 by Italian private equity firm Wise SGR from Nordic Capital.
3 min read · 18 August 2017
Canada Pension Plan Investment Board has agreed to participate in the acquisition of Calpine Corp, a U.S. generator of electricity from natural gas and geothermal resources. The deal, led by U.S. private equity firm Energy Capital Partners, is valued at US$5.6 billion. It includes an investment by CPPIB of US$750 million. Established in 1984, Houston, Texas-based Calpine has 80 North American power plants with the capacity to generate about 26,000 megawatts of electricity. CPPIB Managing Director Avik Dey said the pension fund's investment will help expand its natural resources portfolio to include power and renewable assets.
3 min read · 18 August 2017
Global Knowledge Training LLC has acquired ctc TrainCanada, an Ottawa-based provider of corporate training and development solutions. No financial terms were released. Global Knowledge said the deal solidifies its position as an information technology training specialist, adds desktop applications training courses to its portfolio, and expands its presence across Canada. Headquartered in Cary, North Carolina, Global Knowledge is a portfolio investment of U.S. private equity firm Rhône Capital. Rhône acquired the company from MidOcean Partners in 2014.
2 min read · 17 August 2017
Branded Cities Network LLC (BCN) has acquired the 50.001 percent interest held in Clear Channel Outdoor Canada by Clear Channel Outdoor Holdings Inc (NYSE: CCO), a U.S. outdoor advertising company. No financial terms were disclosed for the deal, which gives Phoenix, Arizona-based BCN 100 percent ownership of Clear Channel Outdoor Canada. The latter, which is headquartered in Toronto, has out-of-home media assets in Canada’s six largest markets. Clear Channel Outdoor Holdings is a subsidiary of iHeartMedia Inc, a portfolio company of U.S. private equity firms Bain Capital and Thomas H. Lee Partners.
3 min read · 17 August 2017
3 min read · 17 August 2017
Cushman & Wakefield has acquired 20 VIC Management Inc, a Toronto commercial real estate advisory and management company. No financial terms were released. Cushman & Wakefield, a real estate business based in Chicago, said the deal will expand its Canadian presence and add depth to the core offering of asset services and project and development services. George Buckles and Randy Scharfe, 20 VIC's co-founders, will join the company as executive managing directors, asset services. Cushman & Wakefield has been owned by an investor group composed of TPG Capital, PAG Asia Capital and Ontario Teachers' Pension Plan since 2015.
3 min read · 17 August 2017
Serious Labs Inc, an Edmonton-based developer of virtual reality (VR) solutions, has secured about $6.4 million (US$5 million) in a Series A financing. U.S. equipment rental company United Rentals Inc and U.S. venture capital firm Brick and Mortar Ventures were the round's investors. Launched in 2005, Serious Labs has developed technology like VR to facilitate interactive skills training in the workplace. It has a global customer base in the construction, mining, plant and maintenance, and oil and gas industries. Led by CEO Jim Colvin and President Ken MacLean, Serious Labs will use the funds raised to fuel continued growth, product innovation and market share.
4 min read · 17 August 2017
Canada Pension Plan Investment Board and Cyrela Commercial Properties SA (CCP) have completed a portfolio exchange transaction. The previously announced deal saw CPPIB acquire a 33 percent interest in CCP's Brazilian office portfolio and CCP acquire the pension fund's 50 percent equity stake in their existing logistics joint venture. The agreement also saw CPPIB and CPP commit up to US$400 million to a new joint venture focused on additional investments in office properties in Brazil. The properties are located primarily in São Paulo's Faria Lima commercial district.
4 min read · 16 August 2017
Mixpo Inc, a Seattle, Washington creative management platform, has been acquired by Netsertive Inc, a marketing technology company based in Morrisville, North Carolina. No financial terms were disclosed. Mixpo develops technology that enables digital marketers and publishers to build, manage and measure advertising campaigns. Founded in 2007, the company's backers included Canada's GrowthWorks and Yaletown Partners. Netsertive's investors include Greycroft Partners, Harbert Venture Partners, River Cities Capital Funds and RRE Ventures.
4 min read · 16 August 2017
IAM Private Debt Group has provided a $23 million senior loan to DBG Group Ltd, a Toronto-based designer and manufacturer of parts for the North American heavy truck and auto industry. The funds raised will be used by the company to repay current creditors, finance a cross-border asset purchase, and support working capital requirements. IAM Private Debt Group is affiliated with Canadian alternative asset manager Integrated Asset Management Corp (TSX: IAM).
2 min read · 15 August 2017
