Parkbridge Lifestyle Communities Inc has bought Willow Park Estates and Jubilee Landing, two family lifestyle communities in Edmonton, Alberta. No financial terms were released. Parkbridge, which operates and develops residential land lease communities, recreational resorts and marinas, said the deal will enhance its offering in the camping and recreational vehicle market. The Calgary-based company is owned by British Columbia Investment Management Corp (bcIMC). It was acquired for $790 million in late 2010.
3 min read · 24 June 2016
Brookfield Global Integrated Solutions has agreed to buy McKinstry FMS, a U.S. critical environment facility management business. No financial terms were disclosed for the acquisition, which is expected to close in August. As part of the deal, McKinstry FMS’s parent company, McKinstry, will take a minority stake in the American operations of Brookfield GIS. Headquartered in Markham, Ontario, Brookfield GIS is a real estate facility management services provider. It was one of the first investments of the fourth private equity fund of Brookfield Asset Management. Brookfield Capital Partners IV closed earlier this month at US$4 billion.
3 min read · 24 June 2016
Alarm.com Holdings Inc (Nasdaq: ALRM) has agreed to acquire Piper, an Ottawa-based designer and producer of a Wi-Fi-enabled video and home automation hub. The buyer will pay about US$140 million for Piper and another business unit from Icontrol Networks Inc. Alarm.com, a U.S. connected home and business platform, said the deal will contribute to revenue growth and enhance research and development scale. Redwood, California-based Icontrol, a connected homes solutions provider, has raised about US$95 million from Comcast Ventures, Intel Capital, Kleiner Perkins Caufield & Byers and other investors, according to Thomson Reuters.
5 min read · 23 June 2016
Alarm.com Holdings Inc (Nasdaq: ALRM) has agreed to acquire Piper, an Ottawa-based designer and producer of a Wi-Fi-enabled video and home automation hub. The buyer will pay about US$140 million for Piper and another business unit from Icontrol Networks Inc. Alarm.com, a U.S. connected home and business platform, said the deal will contribute to revenue growth and enhance research and development scale. Redwood, California-based Icontrol, a connected homes solutions provider, has raised about US$95 million from Comcast Ventures, Intel Capital, Kleiner Perkins Caufield & Byers and other investors, according to Thomson Reuters.
5 min read · 23 June 2016
Bombardier Inc (TSX: BBD.B) said it "strongly disagrees" with Moody's decision regarding a senior unsecured rating change from B2 to B3. The change pertains to the structure of a US$1.5 billion investment by Caisse de dépôt et placement du Québec (CDPQ). The investment, announced last November, gave CDPQ a 30 percent stake in Bombardier's rail business. The company said Moody's decision fails to recognize progress made in the past year, which in includes a stronger liquidity position based on US$2.5 billion raised through the CDPQ deal and a Québec government agreement.
3 min read · 23 June 2016
ARC Financial Corp has intensified its deal-making with new investments in a junior oil producer and a hydraulic-fracturing-treatments specialist. Longshore Resources, a Calgary company founded in late 2015 by senior energy executives, last week said it raised $150 million in equity financing from ARC. The announcement, which was not widely reported, included news of Longshore’s acquisition of certain producing assets in Alberta’s Peace River Arch region.
3 min read · 23 June 2016
Canadian renewable energy company BIOX Corp (TSX: BX) has acquired a 50 million litre nameplate capacity biodiesel facility in Sombra, Ontario. The facility was sold by Methes Energies Canada Inc for US$4.5 million. Hamilton, Ontario-based BIOX said the acquisition represents a 75 percent increase in its biodiesel production capacity and fits the company's strategy to control and distribute more gallons. Founded in 2000, BIOX is a portfolio investment of Canadian private equity firm Birch Hill Equity Partners.
5 min read · 23 June 2016
Travis Isbister has joined Northleaf Capital Partners as an associate on the firm's infrastructure team. He will participate in all aspects of Northleaf’s infrastructure investment activity, with a focus on market research, transaction due diligence, execution and management. Isbister was previously a senior associate in the infrastructure finance group of PwC. Toronto-based Northleaf is a private equity and infrastructure investor with more than $7 billion under management.
1 min read · 23 June 2016
Shareholders of ITC Holdings Corp (NYSE: ITC) have approved the company's acquisition by Fortis Inc (TSX: FTS). The deal, announced earlier this year, is valued at US$11.3 billion. It is expected to close by the end of 2016. Fortis, a Canadian electric and gas utility business, is partnering in the buy with GIC, Singapore’s sovereign wealth fund. GIC agreed in April to acquire a minority stake in ITC, a U.S. electricity transmission company, for about US$1.2 billion.
7 min read · 23 June 2016
Ionodes has secured about $1.5 million in funding from Anges Québec, Anges Québec Capital Fund and Desjardins-Innovatech. Based in Laval, Québec, Ionodes specializes in the development of IP video compression, transmission, and decoding technology, as well as video content management appliances and software platforms. The funds raised will support the company's growth, its ability to enter new global markets, and research and development activity targeted to the video surveillance sector. Founded in 2007, Ionodes is led by President Éric Tasso.
4 min read · 22 June 2016
