Private Equity
Caisse de dépôt et placement du Québec (CDPQ) has joined an Australis Partners-led group to acquire a 50 percent stake in each of Alianza Fiduciaria and Alianza Valores, both Columbian financial institutions. Terms weren't disclosed. The seller was U.S. private equity firm Advent International. Australis, a Latin American private equity firm, CDPQ and International Finance Corp have formed a partnership with Organización DeLima, owner of the other 50 percent stake, to manage the investment. Based in Bogata, Alianza Fiduciaria is a trust and asset management company, while Alianza Valores is a brokerage house.
4 min read · 12 June 2019
CGI Inc (TSX: GIB.A, NYSE: GIB) has agreed to purchase for cancellation 5.2 million Class A subordinate voting shares held by Caisse de dépôt et placement du Québec (CDPQ) for $96.93 per unit. The repurchase transaction has a total value of about $500 million. Once completed, CDPQ will hold an about 13.9 percent interest in CGI, a Montréal-based information technology and business consulting services provider. In 2012, the Canadian pension fund invested $1 billion in CGI to support its acquisition of European business and technology services company Logica Plc.
4 min read · 12 June 2019
Altas Partners has named a pioneering businesswoman to the newly created position of chair. Kathleen Taylor, the former CEO of Four Seasons Hotels and Resorts, took on the role this month, Managing Partner Andrew Sheiner told PE Hub Canada. As part of the job, Taylor will provide advice and support to companies in the portfolio, Sheiner said, drawing on her more than three decades of experience as a senior executive. “We expect Katie will be an excellent resource, sounding board and thought partner for our CEOs as they manage and grow their businesses,” he said.
2 min read · 12 June 2019
Longview Aviation Capital Corp has acquired the Dash 8 turboprop program, and the rights to the de Havilland name and trademark, from Bombardier Inc. In a separate release, Bombardier said the deal generated proceeds of about $300 million. With the close, Longview launched De Havilland Aircraft of Canada Ltd. The company, led by COO Todd Young, formerly of Bombardier, will operate the Dash 8 aircraft business, which includes the in-production Q400 program. De Havilland Canada will produce, service and support Dash 8 and Q400 aircraft from the Downsview site in Toronto. Founded in 2016, Longview makes long-term investments in the Canadian aerospace industry.
4 min read · 11 June 2019
Hub International Ltd has acquired Porchlight Financial, a Vancouver-based full-service group retirement plan consulting business. No financial terms were disclosed. As a result of the deal, Porchlight Managing Director Chris Forman will join Hub. Hub, a Chicago-based insurance brokerage, said the acquisition reinforces its Canadian employee benefits growth and services strategy. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, joining existing owner Hellman & Friedman (H&F).
2 min read · 11 June 2019
Fonds de solidarité FTQ and Fondaction have together invested $13.5 million in JLD-Laguë Group, a Laval, Québec-based John Deere dealer specializing in agricultural equipment. Fonds de solidarité FTQ invested $10 million, while Fondaction invested $3.5 million. The proceeds were used by the company to acquire Québec City-based Transdiff and Centre de Transmission JDH, which sell, service and repair Peterbilt trucks. JLD-Laguë, which operates in Québec and Eastern Ontario, said the acquisition will add to its capabilities in diesel mechanics, original-equipment-manufacturing sales and aftermarket support.
3 min read · 11 June 2019
Terrapure Environmental has acquired RSR Environnement, a Verchères, Québec-based provider of field and waste transportation services to a range of industries. Terms weren't disclosed. The sellers included Founder and President Richard Robert, who will continue to lead the former RSR business. Terrapure, a Toronto-based provider of industrial waste management and resource recovery, said the deal expands its capabilities in industrial field services. Terrapure was launched in 2015 by Canadian mid-market private equity firm Birch Hill Equity Partners following the purchase of Newalta Corp's industrial unit for $300 million.
3 min read · 11 June 2019
Royal Building Products has acquired DaVinci Roofscapes LLC, a Lenexa, Kansas-based maker of plastic synthetic shingles for the residential housing and commercial building markets. No financial terms were disclosed. Based in Woodbridge, Ontario, Royal Building Products, an affiliate of Westlake Chemical Corp, makes and distributes materials for the home remodeling, building and construction markets. DaVinci has been backed since 2006 by TGP Capital Partners, a U.S. mid-market private equity firm.
2 min read · 11 June 2019
OMERS Infrastructure has acquired a 25 percent indirect shareholder stake in VTG AG, a Hamburg, Germany-based rail-car leasing and rail logistics company. No financial terms were disclosed. Established in 1951, VTG provides transportation infrastructure in Europe. Also backed by Morgan Stanley Infrastructure Partners, it has a portfolio of about 94,000 wagons serving more than 1,000 customers. The deal marks the second infrastructure investment in Germany by OMERS, a $97 billion Canadian pension fund.
2 min read · 11 June 2019
Whitehorse Liquidity Partners has promoted Julian Mirsky to senior principal and hired additional investment professionals, bringing the Toronto-based private equity firm's team to 34. Mirsky, formerly a principal, joined the firm in 2017 from Ontario Teachers' Pension Plan. Whitehorse hired Sebastien Siou as a senior principal and Nadeem Kheraj as a principal. Both were recruited from Canada Pension Plan Investment Board (CPPIB), where they served in the secondaries and co-investments group. In April, it was reported that Whitehorse raised more than half of the US$1.5 billion target set for its third secondaries fund.
2 min read · 11 June 2019
