Canadian specialty finance firm Wellington Financial has been named to Preqin’s 2016 list of most consistent top-performing private debt fund managers. Preqin named Wellington and thirteen other firms for consistently generating first and second quartile returns since inception out of a global universe of 140 fund managers. It is the second time in three years that Wellington has made the list. Led by President and CEO Mark McQueen, Toronto-based Wellington provides term, venture, amortizing and unitranche loans of up to $40 million, primarily to technology-focused companies. Its latest fund, Wellington Financial Fund V, raised $300 million in late 2015.
3 min read · 07 November 2016
Canadian private equity firm TriWest Capital Partners recently acquired a majority interest in Trimlite, a maker of exterior and interior doors, decorative door glass and millwork products for the building materials industry. No financial terms were disclosed for the deal, which was done in partnership with the company's management team. Founded in 1983, Vancouver-based Trimlite has plants in China, Vietnam, Canada and the United States, as well as distribution facilities across end markets in North America. It is led by CEO Ross Murray. Trimlite is the fifth platform investment of TriWest Capital Partners Fund V, which raised $500 million in early 2015.
2 min read · 07 November 2016
InstarAGF Asset Management has raised $522 million for its flagship infrastructure fund, InstarAGF Essential Infrastructure Fund. The commitments, which came from a mix of institutional and high-net-worth investors, represent about 70 percent of the fund's target of $750 million. It is expected to close in early 2017. Toronto's InstarAGF, a joint venture between Instar Group Inc and AGF Management Ltd, said about $210 million of the funds raised so far have been invested in three deals. They include last year's acquisition of the passenger terminal at Billy Bishop Toronto City Airport and this year's investment in Steel Reef Infrastructure Corp, a Canadian midstream company.
5 min read · 07 November 2016
Communication Components Inc (CCI) has bought BLiNQ Networks, a Canadian provider of wireless backhaul solutions for small-cell networks and enterprise connectivity. No financial terms were released. CCI, a U.S. provider of antenna systems and RF solutions for wireless networks, said BLiNQ will operate as a branded business from its Toronto headquarters. BLiNQ was founded in 2010 following the buy of intellectual property and assets from Nortel Networks. It was backed by BDC Capital, Kensington Capital Partners, New Venture Partners, Summerhill Venture Partners and WIN, which invested in the company's US$15.1 Series B round in 2014.
3 min read · 07 November 2016
The Caisse de dépôt et placement du Québec (CDPQ) and Public Sector Pension Investment Board (PSP Investments) have partnered with Jay Alix and Investcorp Group in a deal to buy ownership stakes in AlixPartners, a global specialty consulting business. The proposed acquisition values the company at US$2.5 billion and is expected to close this year. The seller is European private equity firm CVC Capital Partners, which has held AlixPartners since June 2012. New York-based AlixPartners, founded by Jay Alix in 1981, said the new ownership structure will support its long-term growth.
6 min read · 07 November 2016
U.S. private equity firm ArcLight Capital Partners has agreed to buy TransCanada Corp's hydroelectric power portfolio in New England. The acquisition, which is being made by ArcLight affiliate Great River Hydro, is valued at US$1.065 billion, TransCanada announced in a separate statement. The deal is expected to close in the first half of 2017. The assets to be acquired are 13 facilities on the Connecticut and Deerfield rivers. They include the 192 megawatt Moore facility, the largest conventional hydro station in New England. Calgary-based TransCanada is an energy infrastructure company.
3 min read · 04 November 2016
Toronto-based entertainment software provider AudienceView has raised undisclosed growth funding. The investor was Rubicon Technology Partners, a U.S. software private equity firm. AudienceView provides solutions that help entertainment brands deliver self-serve e-commerce, ticketing and live events management portals in venues around the world. Led by CEO Mark Fowlie, the company reports processing more than $2 billion in annual transactions. Founded in 2002, AudienceView has previously received funding from venture capital firms, including Canada's Five Corners Capital, which invested in May 2014.
2 min read · 04 November 2016
The Caisse de dépôt et placement du Québec has invested $5 million in Napec (TSX: NPC), a Drummondville, Québec-based builder of electrical transmission and distribution grids, as well as networks for natural gas utilities. The investment was made as part of Napec's acquisition of PCT Contracting LLC, a service provider to the gas utility segment in New York. The US$33 million deal is expected to strengthen Napec's presence in the United States and increase its service capabilities, the Caisse said. The pension fund has backed Napec since 2011.
2 min read · 03 November 2016
Toronto medical device and technology company Synaptive Medical Inc has received a strategic investment from General Atlantic, a U.S. growth equity firm. No financial terms were disclosed. With the investment, David Caluori, a principal at General Atlantic, will join the company's board. Established in 2012, Synaptive develops integrated technologies, such as its BrightMatter neurosurgical products, to support the work of surgeons and hospitals. It said the partnership with General Atlantic will help accelerate commercialization of its solutions in global markets and fund new R&D development. Synaptive is led by President Cameron Piron.
5 min read · 03 November 2016
Pacific Exploration & Production Corp (TSX: PEN), a Toronto-based explorer and producer of natural gas and crude oil in Latin America, has closed its restructuring deal with Catalyst Capital Group, a Canadian private equity firm, and other creditors. The deal, announced in April, recapitalized the company with US$500 million, and helped reduce debt to US$250 million from US$5.4 billion. Catalyst's Gabriel de Alba, who serves as Pacific E&P's chairman, said the company will implement a strategy to narrow its geographic focus and reduce organizational scale, complexity and cost while ensuring sustainable production and growth.
10 min read · 03 November 2016
