Private Equity
U.S. private equity firm Centerbridge Partners recently agreed to buy KIK Custom Products, a Canadian manufacturer of household and personal care products and a developer of pool and spa treatment products. The proposed acquisition's value was not disclosed; however, a November 2014 report by Reuters suggested the deal could value KIK at more than US$1.5 billion, including debt. The seller in the transaction is CI Capital Partners, a U.S. private equity firm that purchased KIK for $826 million in 2007. Jeff Nodland, president and CEO of the Concord, Ontario-based company, said the new partnership with Centerbridge will help it "to continue on its growth trajectory."
4 min read · 10 July 2015
Fulcrum Capital Partners has surpassed the target set for the final close of Fulcrum Capital Partners V LP, raising the largest private equity partnership in the firm's history. The Vancouver-based Fulcrum announced today that Fund V secured a total of $344 million in committed capital from new and repeat limited partners. That’s about 15 percent more than its revised goal of $300 million.
2 min read · 09 July 2015
Wynnchurch Capital, a U.S. private equity firm with an office in Toronto and an affiliate in Montréal, has promoted four of its investment professionals to managing director. The individuals are: Brian Crumbaugh, Greg Gleason, Neel Mayenkar and Michael Teplitsky. Headquartered in Rosemont, Illinois, Wynnchurch has several Canadian investments, including Calyx Transportation Group Inc, Groupe Moreau, Pro-Fab Group Inc and Surepoint Technologies Group Inc. Last November, the firm closed it fourth mid-market partnership at US$1.2 billion.
3 min read · 08 July 2015
Alithya has bought Groupe conseil OSI Inc, an information technology consulting and services business headquartered in Montréal. The acquisition's value was not disclosed. As part of the deal, Capital régional et coopérative Desjardins and Investissement Québec, which previously invested in OSI, have become investors in Alithya. The two firms deployed $3.5 million and $1.5 million, respectively. The Fonds de solidarité FTQ also backed the transaction. Alithya is a Québec City-based provider of strategic consulting and information technology services with nine offices in Canada and France. It said the OSI purchase is in line with its growth strategy.
5 min read · 08 July 2015
Gregg Delcourt has joined Canadian alternative equity firm Alaris Royalty Corp as a senior vice president. Delcourt will lead the firm's Small Cap Investments, a new division established to make investments of up to $20 million in private companies. Alaris President and CEO Steve King said the initiative is the result of strong demand from potential business partners that did not meet the firm's current investment size criteria. He said "the robust and growing nature of our larger dollar sized deal flow" has necessitated a distinct management team "to pursue the small cap opportunities."
3 min read · 07 July 2015
Landr Audio, a cloud-based audio post-production platform, has secured US$6.2 million in Series A financing. The investors included rapper and record producer Nas, HDGL (Cirque Du Soleil founders Guy Laliberté and Daniel Gauthier), Warner Music Group, Plus Eight Private Equity, Real Ventures and YUL Ventures. Formerly known as MixGenius, Landr received support early on from Canadian accelerator and investor TandemLaunch and angel network Anges Québec. As part of its funding announcement, the company launched its latest tool for mastering audio production and giving listeners and producers improved sound quality. Founded in 2012, Landr is based in Montréal.
3 min read · 07 July 2015
Endurance Energy Ltd, a portfolio company of U.S. private equity firm Warburg Pincus, has agreed to buy StonePoint Energy Inc (TSX-V: STO), a Canadian junior oil and gas business. Endurance will acquire all of StonePoint's outstanding common shares for $0.078125 per share in cash. Directors and executive officers of StonePoint and certain investors reflecting about 24 percent of the company's shares have committed to vote for the deal at a special shareholders meeting. Based in Calgary, Endurance is focused on the acquisition and development of natural gas assets in Western Canada. It has been backed by Warburg Pincus since 2012.
6 min read · 07 July 2015
McRock Capital, an investor in the industrial Internet, is preparing to wrap up its debut fund after securing a commitment from one of the world’s largest electric utilities. The Toronto-based firm announced today that McRock iNFund LP received an undisclosed investment from France’s EDF, its second strategic backer. As a result, Fund I moved closer to reaching its goal of $65 million of committed capital.
3 min read · 06 July 2015
WSP Global Inc (TSX: WSP) has bought Faveo Management AS, a Scandinavian provider of project management and specialist services in the areas of infrastructure and energy. The acquisition, the value of which was not disclosed, follows other recent purchases by WSP in the region. Based in Montréal, WSP is a diversified professional services company backed by the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. This week it also acquired Levelton Consultants Ltd.
4 min read · 03 July 2015
One51 plc has agreed to acquire a majority stake in IPL Inc, a Canadian injection-molded plastic products business, for about $280 million. The deal, which will give One51 a 67 percent interest in the company, is being done in partnership with the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and Investissement Québec. The seller is Canadian private equity firm Novacap, which led the $94.2 million privatization of the Saint-Damien, Québec-based IPL in 2010. In a statement, One51, an Irish environmental services and plastics company, said the purchase will provide it with a platform for growth in North America. The deal is expected to close by the end of July.
5 min read · 03 July 2015
