Private Equity
Fire Safety & Protection LLC (FSP) has acquired Georgian Bay Fire & Safety Ltd, an Owen Sound, Ontario-based life safety and property protection business. Terms weren't disclosed. Established in 1969, Georgian operates more than 60 vehicles to service fire, security and communication systems for Ontario commercial and residential customers. FSP, an Atlanta-based fire and life safety company, said the acquisition advances its goal of building a strong presence in North America. FSP was formed in 2018 by Sunny River Management, a U.S. family office private equity investor.
3 min read · 20 August 2019
European Clean Energy Infrastructure, an affiliate of Swiss asset manager Capital Dynamics, has agreed to acquire a portfolio of wind projects in Northern Ireland from Brookfield Renewable Partners. No financial terms were disclosed. The portfolio consists of four operating wind projects with a total generation capacity of 68 megawatts. Brookfield Renewable Partners, majority owned by Toronto-based alternative investment firm Brookfield Asset Management, will continue to provide operational support for the portfolio.
3 min read · 20 August 2019
Rocky Mountain GTL Inc (RMGTL), a Calgary-based designer, builder and operator of small-scale gas-to-liquids plants, has raised a $15 million loan from Roynat Capital. RMGTL has licensed technology from Greyrock Energy Inc that converts flare gas, natural gas and natural gas liquids into clean-burning liquid fuels for the road, rail, marine and aviation markets. The company is building a first commercial plant near Carseland, Alberta that will make synthetic diesel fuel. Roynat, an affiliate of Scotiabank, provides long-term financing solutions to Canadian mid-market companies.
3 min read · 20 August 2019
Avaya Holdings Corp is considering a merger with Mitel Networks Corp, an Ottawa-based provider of business communications, collaboration and contact-centre solutions, Bloomberg reported. The news, which adds to an earlier Wall Street Journal report, said the merger could create a combined business worth more than US$5 billion, including debt. Avaya, a Santa Clara, California-based telecommunications equipment and software company, is also considering an offer from Clayton Dubilier & Rice, Reuters reported. Mitel was acquired last year by a consortium led by Searchlight Capital Partners for about $2.6 billion.
1 min read · 20 August 2019
S.i. Systems ULC has acquired Keen Technology Consulting Inc, a Toronto-based information technology (IT) staffing and consulting business. No financial terms were disclosed. Founded in 2006 by Managing Partners Grant McKeracher and Blake Appleton, Keen specializes in contract and permanent staffing, payroll services and IT service management solutions. Based in Calgary, S.i. Systems is an IT staffing company. Last year, it secured an investment from Quad-C Management, a U.S. mid-market private equity firm.
3 min read · 20 August 2019
Foodtastic Inc has acquired Chocolato, a Québec City-based chain of chocolate and ice cream bars, for an undisclosed amount. The deal, done in partnership with Guyaume Arsenault, who founded Chocolato in 2015, will support the company's expansion in Canada and the United States. Based in Montréal, Foodtastic is a franchisor of restaurant concepts. It currently has more that 75 restaurants and $135 million in system sales. Last year, Foodtastic raised a $47 million investment from Restaurant Royalty Partners, a joint venture of Oaktree Capital Management and JHR Capital.
2 min read · 20 August 2019
Canadian specialty finance firm Crown Capital Partners has provided $17 million of additional debt financing to two portfolio companies. Crown supplied a $10 million bridge facility to Rokstad Holdings Corp, a Coquitlam, British Columbia-based provider of power line construction and maintenance services. The facility adds to a $25 million loan completed in April. Crown also increased a loan facility by $7 million for DATA Communications Management Corp (DCM), a Brampton, Ontario-based business communication solutions provider. DCM originally secured a $12 million loan last year.
2 min read · 20 August 2019
Pretium Packaging LLC has acquired Starplex Scientific Inc, a Toronto-based maker of plastic containers and closures for the food, specialty beverage, household and industrial, sports nutrition, healthcare and beauty care industries. Terms weren't released for the deal, which will see Starplex retain its existing brand. The seller was Apotex Corp, a Canadian pharmaceutical company. Pretium, a Chesterfield, Missouri-based maker of rigid plastic containers and closures, said the acquisition will support its growth objectives in the medical and consumer healthcare sectors. Starplex is Pretium's seventh add-on deal since the company was acquired in 2014 by U.S. mid-market private equity firm Genstar Capital.
3 min read · 19 August 2019
Caisse de dépôt et placement du Québec (CDPQ) has agreed to invest US$500 million ($664 million) in Laboratorios Sanfer SA, a Mexico City-based pharmaceutical company. The deal, expected to close later this year, will give CDPQ a minority interest. It will support the company's expansion, both organically and through acquisitions, in Mexico and Latin America. U.S. private equity firm General Atlantic (GA), which invested in Sanfer in 2014, will retain a minority stake. With a presence in over 25 Latin American countries, Sanfer manufactures human and animal health products across more than 10 therapeutic fields.
4 min read · 19 August 2019
Heico Co has acquired a majority stake in Shred-Tech Corp, a Cambridge, Ontario-based designer and maker of mobile and stationary shredding equipment for the document destruction and recycling industries. No financial terms were released for the deal, which saw Heico partner with Rob Glass, Shred-Tech’s president and CEO. The transaction facilitated the exit of some founding shareholders. Established in 1987, Shred-Tech has installed more than 6,000 shredding and recycling systems worldwide. Heico, a U.S. investor in mid-market industrial companies, said it will support Shred-Tech's continued growth and development of its product line.
3 min read · 19 August 2019
