Knowlton Development Corp (KDC) has acquired Thibiant International Inc, a U.S. custom formulator and maker of personal care and skin care products. No financial terms were released. The acquisition is one of several completed by KDC since 2014, in each case backed its owner, Canadian private equity firm Novacap. Other deal investors included Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Investissement Québec, Export Development Canada and Fondaction CSN. KDC, a Knowlton, Québec provider of health and beauty goods, secured a $165 million reinvestment led by Novacap via Novacap Industries IV in October 2014.
5 min read · 16 November 2016
Samsung Electronics Canada Inc has bought NewNet Communication Technologies (Canada) Inc, which operates the rich communications services (RCS) business of NewNet Communication Technologies BV. No financial terms were disclosed. Halifax-based NewNet Canada will continue to operate independently as a Samsung subsidiary, helping its parent to accelerate the deployment of RCS-enabled networks. Lombard, Illinois-based NewNet, a telecommunications solutions provider, is backed by U.S. private equity firm Skyview Capital.
2 min read · 15 November 2016
CPPIB Credit Investments, an affiliate of Canada Pension Plan Investment Board, has agreed to provide a £240 million ($406 million) corporate mezzanine development facility to Quintain, a development company backed by U.S. private equity firm Lone Star Funds. Funding provided by CPPIB forms part of a five-year £800 million facility that will support Quintain's development of London, United Kingdom's Wembley Park. Quintain, which acquired an interest in the park in 2002, aims to transform Wembley from an events destination into a neighbourhood.
4 min read · 15 November 2016
TandemLaunch has raised $15 million in the close of its third seed fund. TandemLaunch Ventures II hit maximum capitalization thanks to additional commitments from BDC Capital, as well as new commitments from investors in China, Singapore, the United Kingdom and United States. In all, 44 limited partners invested. They included Guy Laliberté's Lune Rouge Innovation, Speed of Trust Ventures, YUL Ventures, Nathalie Marcoux and Jean-Francois Grenon. Montréal's TandemLaunch will use the funds raised to build another dozen synthetic startups that respond to innovative trends. PE Hub Canada interviewed TandemLaunch's founder, Helge Seetzen, in June.
3 min read · 15 November 2016
Bit Stew Systems Inc, a Vancouver data integration platform for the industrial internet, has been acquired by GE Digital. Terms were not disclosed; however, the Globe and Mail reported the deal's value at US$153 million. GE was previously a strategic investor in Bit Stew, leading its US$17.2 million Series B financing in May 2015. The company's data intelligence capabilities will be combined with Predix, GE’s operating system for the industrial internet, and will help GE advance its product offerings. Led by CEO Kevin Collins, Bit Stew first raised funding in a Yaletown Partners-led Series A round in late 2013. Its other investors included BDC Capital, Cisco Systems and Kensington Capital Partners.
3 min read · 15 November 2016
Helicopter services company CHC Group Ltd, which filed for bankruptcy protection in May, has filed a proposed Chapter 11 plan of reorganization in the United States. Under the plan's terms, the company will recapitalize with US$300 million from its existing creditors. It will also have access to additional asset-based financing commitments of US$150 million from the Milestone Aviation Group Ltd. CHC said it will seek confirmation of the plan in early 2017 and is on track to emerge from the court-supervised process shortly thereafter. Vancouver-based CHC is a portfolio company of U.S. private equity firms Clayton Dubilier & Rice and First Reserve Corp.
10 min read · 14 November 2016
Canada's Gildan Activewear Inc (TSX: GIL) has agreed to acquire the intellectual property rights related to the brand and certain assets of U.S. clothing manufacturer American Apparel LLC for about $66 million. Gildan said it will also buy inventory to ensure a supply of goods in the printwear channel. The deal is expected to close in early 2017. American Apparel filed for a second bankruptcy after emerging from a first in February under the ownership of bondholders led by U.S. hedge fund Monarch Alternative Capital LP. Montréal-based Gildan is a maker of branded basic family apparel.
7 min read · 14 November 2016
Twin Rivers Paper Co Ltd has agreed to acquire paper manufacturing assets of Little Falls, New York-based Burrows Paper Corp. No financial terms were disclosed for the deal, which is expected to close in Q4 2016. Twin Rivers, which has operations in Maine and New Brunswick, said the deal will expand its geographic footprint and product offerings, and strengthen its ability to serve customers in the lightweight packaging, publishing and label sectors. Twin Rivers was bought by Blue Wolf Capital Partners and Atlas Holdings from Brookfield Asset Management in 2013.
2 min read · 14 November 2016
Entrepreneurs Claire Tremblay and Eveline Canape have acquired Énergie Cardio, a Québec franchise network of more than 40 fitness centres. No financial terms were disclosed. The seller was Alain Beaudry, who founded the Blainville, Québec-based business in 1985, and other shareholders. Since 2009, Énergie Cardio has operated as an affiliate of Canadian fitness chain GoodLife Fitness Centres. Goodlife is a portfolio company of Canadian private equity firm Penfund and other investors.
4 min read · 11 November 2016
Canada's IPL Inc has acquired Encore Industries Inc, a U.S. producer of rigid plastic packaging products for the North American industrial packaging market. The deal, valued at US$35 million, was done in collaboration with IPL's parent company One51 and backers the Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ. Saint-Damien, Québec-based IPL said the acquisition makes it the third largest player in the U.S. plastic injection molded products market and will facilitate further growth. Ireland's One51 acquired IPL last year for about $280 million. The seller was Canadian private equity firm Novacap.
4 min read · 11 November 2016
