Birch Hill Equity Partners to take Tuckamore private for 75 cents per share
Tuckamore Capital Management Inc (TSX: TX) has agreed to taken private by Canadian private equity firm Birch Hill Equity Partners in partnership with members of Tuckamore's senior management team. A Toronto-based private equity firm with a portfolio of seven business holdings, Tuckamore will be bought for $0.75 per share. Voting control of a new entity will be held by the firm's CEO Dean MacDonald and CIO Adrian Montgomery. The deal, which must be approved by two thirds of votes cast by shareholders at an upcoming meeting, has received the unanimous recommendation of Tuckamore's board of directors. Founded in 2003, the firm went public in 2005. Update: One source has estimated the value of the Tuckamore acquisition to be $60 million.
5 May 2014•8 mins read
