Hub International Ltd, a portfolio investment of U.S. private equity firm Hellman & Friedman (H&F), has acquired certain assets from Canada's Patrice Varin through a company held by him. No financial terms were released. With the deal, Varin will join Hub Québec, bringing a commercial line book of business focused on offering bonds and surety products. Hub, a global insurance brokerage with significant operations in Canada, was acquired by H&F for about US$4.4 billion in October 2013. The company has its headquarters in Chicago.
2 min read · 08 August 2017
The private equity group of Brookfield Asset Management has partnered with Great Canadian Gaming Corp (TSX: GC) to acquire gaming assets in the Greater Toronto Area (GTA). No financial terms were released. The gaming assets, which generated gross revenue of more than $1 billion in 2016, was awarded by Ontario Lottery and Gaming Corp as part of its casino modernization. Brookfield and Great Canadian have formed Ontario Gaming GTA LP to invest in the assets, with each partner holding a 49 percent stake. Clairvest Group will hold a 2 percent stake. Great Canadian will operate the facilities on behalf of the other partners. The deal is expected to close in 2018.
4 min read · 08 August 2017
Western Investment Co of Canada has agreed to partner with Golden Health Care Inc, a provider of long-term senior care homes across Saskatchewan. The deal, valued at $5 million and expected to close in September, will see Western acquire a 30 percent equity interest in three facilities from Golden Health and other shareholders and secure a one-year option to acquire a 30 percent interest in undeveloped land in Yorkton. Additionally, Western and Saskatoon-based Golden Health will jointly explore the company's potential expansion into new communities. Western is a private equity firm focused on growth and ownership opportunities in Western Canada.
3 min read · 08 August 2017
Ontario Teachers' Pension Plan has agreed to acquire a minority stake in Intercos SpA, a Milan, Italy-based supplier of colour cosmetics and skincare products. No financial terms were disclosed. Intercos said President and CEO Dario Ferrari will retain control following the deal, which is intended to strengthen the shareholder structure and help the company pursue development plans. Earlier in 2017, Intercos bought Cosmint SpA, a maker of skin, hair and body care products. Founded in 1972, Intercos has been backed by U.S. consumer private equity firm L Catterton since 2014.
3 min read · 08 August 2017
CCMP Capital Advisors earned 3x its investment in Jamieson Wellness following the vitamin maker’s recent initial public offering, two sources with knowledge of the matter told PE Hub Canada. Jamieson wrapped up its IPO on the Toronto Stock Exchange last month, raising more than $345 million, including the greenshoe option. Of these proceeds, about $100 million went to CCMP and other selling shareholders. Another part of CCMP’s realization came from a reorganization of the company’s capital prior to the IPO’s close. In the prospectus, Jamieson said it would use the bulk of its $245 million in treasury proceeds to make debt, dividend and other payments to CCMP linked to the capital change.
3 min read · 08 August 2017
Amp Solar Group, a Port Credit, Ontario solar photovoltaic developer, has made a strategic investment in Faraday Grid Ltd (FGL), a U.K. energy systems designer. No financial terms were disclosed for the deal, which saw Amp become FGL's principal strategic investor. It will also allow Amp to integrate the company's Faraday Grid technology within its portfolio of micro-grid energy solutions and clean energy generation assets. Amp is backed by an affiliate of Apollo Global Management. The affiliate invested US$15 million in the company, and provided $250 million in revolving equity financing, in 2014.
3 min read · 04 August 2017
Canadian private investment firm Mill Street & Co has acquired Nottawasaga Mechanical, a Wasaga Beach, Ontario-based heating, refrigeration and air conditioning services contractor. No financial terms were released. Established in 1986, Nottawasaga designs and installs comfort systems for owners of new and existing homes in the region of Central Ontario. Mill Street invested in the business via its Mechanical Construction Group. Mill Street acquired Aircon Mechanical Systems Inc and Trinity Energy Innovations Inc in December 2016.
2 min read · 04 August 2017
Tokyo Smoke, a Toronto-based cannabis lifestyle and retail brand, has raised C$4 million in the first close of its Series B financing. The round, which is expected to this month to exceed C$5 million, was led by Aphria Inc, a Canadian medical cannabis producer, and Green Acre Capital, a Canadian cannabis-focused private investment firm, and joined by new and existing investors. Smoke was founded in 2015 by CEO Alan Gertner and Chairman Lorne Gertner.
3 min read · 04 August 2017
3 min read · 04 August 2017
Lannick Group, a Toronto-based recruitment and staffing provider, has been bought by Vaco, a U.S. talent acquisition and consulting business. No financial terms were disclosed. Established in 1985, Lannick is a specialist in talent solutions for the accounting, finance and IT fields. Vaco, which is based in Brentwood, Tennessee, said the acquisition expands its reach and marks its entry into the Canadian market. Founded in 2002, Vaco is a portfolio investment of U.S. private equity firm Quad-C Management. Quad-C acquired a majority stake in the company in 2014.
4 min read · 04 August 2017
