Canadian private equity firm Onex Corp and Baring Private Equity Asia have wrapped up their acquisition of the intellectual property and science unit of Thomson Reuters. The deal, announced in July, was valued at $3.55 billion and included a US$1.6 million equity investment by Onex and Baring Asia. With the closing, the new owners announced the unit would operate as an independent company known as Clarivate Analytics. It will continue to oversee subscription-based businesses focused on scientific and academic research, patent analytics and regulatory standards, life sciences intelligence, trademark protection, domain brand protection and IP management.
3 min read · 03 October 2016
U.S. gold and silver mining company Klondex Mines Ltd (TSX: KDX) (NYSE: KLDX) has closed its previously announced acquisition of Carlin Resources LLC, which holds the Hollister mine, the Esmeralda mine and ore milling complex, and related assets in Nevada. The seller in the deal was Waterton Global Resource Management, a Canadian mining private equity firm. Waterton was paid US$80 million in cash and received Klondex-issued warrants and shares. Waterton acquired the Hollister mine and related assets in a court-supervised auction in mid-2013.
5 min read · 03 October 2016
Calgary's Performance Energy Services Inc, a provider of well servicing, cementing and acidizing, has acquired CASA Energy Services Inc for an undisclosed amount. With the deal, Performance will own and operate 16 service rigs, four cementing and acidization units, and other related ancillary equipment located across Alberta. CASA was 100 percent owned by Canadian hedge fund manager West Face Capital. As a result of the acquisition, West Face will be the largest shareholder of Performance, which is led by President and CEO Scott Darling.
2 min read · 03 October 2016
Singer Equities has bought Future Hydraulik Inc, a Laval, Québec-based distributor, fabricator and wholesaler of hydraulic hose, fittings, assemblies and fabrication equipment. No financial terms were released. Singer Equities said the deal expands its footprint into Canada, strengthens its product portfolio, and diversifies its customer and channel base. Singer Equities and Bishop Lifting Products are affiliates of SBP Holdings LP, a Houston, Texas-based distributor of industrial rubber products and wire rope and rigging products. The business has been backed by U.S. private equity firm AEA Investors since December 2011.
2 min read · 03 October 2016
GreenSoil Building Innovation Fund (GBIF), launched last year by GreenSoil Investments, has raised a US$20 million lead commitment from Grosvenor Group, a U.K.-based private property group. The investment is intended to leverage strategic opportunities with GBIF, a Toronto-based growth equity fund that invests in products, services and technologies which make real estate and infrastructure more productive, efficient and sustainable. The fund, which has so far raised US$55 million of a US$100 million target, said it has made its first two portfolio investments. GBIF is chaired by Alan Greenberg, a Greensoil co-founder.
4 min read · 03 October 2016
SVG Capital said that it was in talks with a consortium that included Goldman Sachs and the Canadian Pension Plan Investment Board, confirming media reports about other bidders for the British private equity firm, Reuters reported. SVG Capital, which had spurned U.S. rival HarbourVest's US$1.5 billion-bid since mid-September, said it was also in talks with a second consortium regarding sale of some of its assets.
1 min read · 03 October 2016
Canadian specialty lender Callidus Capital Corp (TSX: CBL) said its board of directors has decided to begin a process of soliciting privatization proposals with the support of a financial advisor. Callidus said the decision is the result of a "persistent discount" in its shares. Canadian private equity firm Catalyst Capital Group, which currently holds about 65 percent of the Toronto-based company's issued and outstanding shares, said it has "no current intention" to sell its interest or bid for shares it does not already hold. Callidus went public in April 2014.
3 min read · 03 October 2016
Penfund, one of Canada’s oldest private equity firms, has wrapped up its fifth mid-market fund, raising $724 million in committed capital with the help of an expanded investor base. Penfund Capital Fund V shot past its original goal of $525 million earlier this year. Last week it was closed above its hard-cap target of $700 million. The fund is the largest in Penfund’s 37-year history, exceeding by 57 percent the $460 million secured by its predecessor in 2012.
3 min read · 02 October 2016
Canadian private equity firm Onex Corp has closed its previously announced investment in WireCo WorldGroup, a Prairie Village, Kansas-based maker of mission-critical steel wire rope, synthetic rope, specialty wire and engineered products. Onex Partners IV invested US$270 million to acquire a majority interest in the company. Paine & Partners, which acquired WireCo in February 2007, will retain a minority stake alongside senior management.
2 min read · 30 September 2016
OMERS Private Equity and Harvest Partners have closed their take-private acquisition of Epiq Systems Inc, a Kansas City, Kansas-based provider of technology and services to the legal profession. Announced in July, the deal was valued at about US$1 billion. As a result, Epiq has been merged with DTI, a U.S. legal processing outsourcing company backed by OMERS since August 2014. The combined business, headquartered in Atlanta, Georgia, will have more than 100 locations around the world.
3 min read · 30 September 2016
