Cooper Equipment Rentals Ltd has acquired Alberta Lift and Equipment Rentals Inc, a Calgary-based provider of aerial equipment rentals and related services. No financial terms were disclosed. Cooper, a Mississauga, Ontario provider of compact, aerial and heavy construction and industrial equipment, said the deal will help grow its business in Western Canada. The company, which serves contractors across Ontario and in parts of Québec and Alberta, is a portfolio investment of Canadian private equity firm SeaFort Capital. SeaFort acquired a majority stake in Cooper in 2013.
2 min read · 10 July 2017
Cogeco Communications Inc (TSX: CCA) has agreed to acquire all of the cable systems of the MetroCast brand owned by Harron Communications LP, a U.S. digital cable and communications provider. Cogeco's Atlantic Broadband agreed to pay US$1.4 billion for the assets. The deal, expected to close in early 2018, will add approximately 120,000 internet and 76,000 video customers to Atlantic's U.S. base. Cogeco, a Montréal telecommunications and media company, said Caisse de dépôt et placement du Québec (CDPQ) agreed to invest US$315 million in support of the acquisition. The investment will give CDPQ a 21 percent stake in Atlantic's holding company.
7 min read · 10 July 2017
Vitamin and natural health products company Jamieson Wellness Inc (TSX: JWEL) has closed its initial public offering of common shares in Canada, raising more than $300 million. Of the total gross proceeds, about $55 million went to selling shareholders, including U.S. private equity firm CCMP Capital Advisors, which acquired the Windsor, Ontario-based company in 2014. Jamieson has also authorized a greenshoe option, which if fully exercised will provide CCMP with as much as $45 million in additional proceeds.
3 min read · 07 July 2017
Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has filed for an initial public offering in the United States, Reuters recently reported. The company is seeking as much as $150 million (US$115 million) from an offering of common shares on the Nasdaq Global Market. Founded in 2010, Clementia is developing treatments for patients suffering from debilitating bone and other diseases. It has raised north of US$90 million from venture capital investors, including BDC Capital, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
1 min read · 07 July 2017
Fairfax Financial Holdings Ltd has closed its acquisition of Allied World Assurance Co Holdings AG, a Swiss provider of property, casualty and specialty insurance and reinsurance solutions. The deal, announced late last year, is valued at US$4.9 billion. As a result, Allied World said it would delist its shares from the New York Stock Exchange. Fairfax, a Toronto-based financial holding company, partnered in the acquisition with the Ontario Municipal Employees Retirement System (OMERS), which agreed to invest US$1 billion, and Alberta Investment Management Corp (AIMCo), which agreed to invest US$500 million.
3 min read · 07 July 2017
Live performance company Cirque du Soleil has bought Blue Man Productions, a New York-based live entertainment company best known for its Blue Man Group show, performed in more than 20 countries since 1991. No financial terms were disclosed. Montréal-based Cirque said the deal adds to its audience pool and is in line with a global expansion plan intended to help diversify its offering beyond circus arts. Cirque was acquired two years ago by a consortium led by U.S. private equity firm TPG Capital. The deal, reportedly valued at US$1.5 billion, included investments by Fosun International and Caisse de dépôt et placement du Québec.
4 min read · 06 July 2017
Swander Pace Capital has sold Lavo Inc, a Montréal-based maker and marketer of laundry detergent, household cleaners, fabric softeners and bleach, to KIK Custom Products Inc. No financial terms were disclosed. Lavo, which distributes and markets under owned brands La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power, and ABC, was acquired by Swander Pace in 2008. KIK, a Concord, Ontario-based maker of consumer packaged goods, is owned by Centerbridge Partners.
2 min read · 06 July 2017
Laval, Québec biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has raised $61.7 million in gross proceeds from two equity offerings. In the first, a bought deal equity offering, Prometic secured $53.1 million. In the second, a private placement, it obtained $8.6 million from a vehicle affiliated with Thomvest Asset Management, the investment firm of Peter Thomson. The latter deal's proceeds were used to reduce amounts owed on a Thomvest loan. Prometic is focused on developing therapeutics from its plasma-derived and small-molecule platforms.
3 min read · 06 July 2017
The Home Depot (NYSE: HD) has agreed to acquire Compact Power Equipment Inc, a Fort Mill, South Carolina-based provider of equipment rental and maintenance services, for US$265 million in cash. The seller in the deal is Canadian private equity firm Kilmer Capital Partners. Kilmer partnered with another Canadian investor to acquire a majority interest in Compact Power in 2012. It also helped the company raise US$50 million in asset-based financing to support growth. Home Depot, a U.S. home improvement specialty retailer, said the acquisition will enhance its equipment and tool rental offerings.
3 min read · 06 July 2017
OPTrust has made a strategic investment in James Evans & Associates Ltd (JEA), a Victoria, British Columbia-based provider of pension administration software and services in Canada and the United States. No financial terms were released. Jim Evans, president and CEO of JEA, which has for two decades been a service provider to OPTrust, said the deal will support the company and "help shape JEA's products to fulfill market needs." OPTrust, which oversees $19 billion in net assets, invests on behalf of OPSEU Pension Plan. In March PE Hub Canada interviewed Managing Director Sandra Bosela, who heads OPTrust's global private equity group.
3 min read · 06 July 2017
