Private Equity
Callidus Capital Corp (TSX: CBL) has agreed to sell Bluberi Gaming Canada Inc, a Drummondville, Québec-based casino games developer, to Canadian private equity firm Catalyst Capital Group. The deal would see Catalyst acquire Callidus-owned shares and assume debt owing by Bluberi to Callidus. The purchase price for the shares is $92.7 million and for the debt is the amount of that debt outstanding at closing. Shareholders will vote on the transaction on July 2. Founded in 1994, Bluberi designs casino games installed in electronic gaming machines. Callidus, a Toronto-based specialty lender owned by Catalyst, acquired the company in 2017.
5 min read · 05 June 2019
DW Healthcare Partners (DWHP) has acquired Spectrum Solutions LLC, a maker of containers and packaging solutions for the scientific testing, medical, organic health and cosmetic sectors, and shipping affiliate Go-2 Fulfillment Co Inc, both based in Draper, Utah. Terms weren't disclosed. The sellers were President and CEO Gregg Williams, who founded the business in 2005, and COO Bill Phillips. They will retain ownership stakes. Generational Equity advised Spectrum and Go-2 on the deal. Based in Toronto and Park City, Utah, DWHP is a healthcare private equity firm. It is currently investing from DW Healthcare Partners Fund IV, which raised US$295 million in 2017.
4 min read · 05 June 2019
Hub International Ltd has acquired Cottenie and Gardner Inc, a Kamsack, Saskatchewan-based provider of personal and commercial insurance solutions, including government auto and farming solutions. No financial terms were disclosed. The sellers were owners Ted Gardner and Les Fedorak, who will join Hub International Manitoba Ltd. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, a Chicago-based insurance brokerage, joining existing owner Hellman & Friedman (H&F).
2 min read · 05 June 2019
Navacord Corp has acquired Future Benefits Management Inc (FBMI), a Toronto-based group benefits provider. No financial terms were disclosed. FBMI will join JDIMI Consulting, Navacord's broker partner focused on group benefits and retirement consulting. Navacord, a Toronto-based commercial broker, said the acquisition will deepen its specialization and create a more robust service offering. Last year, Navacord undertook a management-led buyout of its minority partner with the support of U.S. private equity firm Madison Dearborn Partners (MDP).
3 min read · 04 June 2019
Headland Capital Partners has acquired a majority stake in Anenda Systems Inc, a Vancouver-based building products company that does business as AL13 Architectural Systems. No financial terms were disclosed. Founded in 2011, AL13 specializes in developing and distributing aluminum cladding systems to the North American real estate development and construction industry. AL13, which reports an annual growth rate of 40 percent since inception, said the partnership with Headland will support its expansion in key markets. Headland, a Canadian venture equity firm, invests in lower mid-market companies.
2 min read · 04 June 2019
Jardine Transport Group has acquired Gil Trucking, a Saint-Jacques, New Brunswick-based open-deck, long-haul trucking company. No financial terms were disclosed. The seller was President Danny Soucy, who will remain with the business as general manager. Established in 1987, Gil Trucking operates a fleet of more than 40 power units servicing customers in Canada and the United States. Jardine, a Fredericton-based long-haul truckload carrier, said the acquisition increases its fleet to 150 power units and will expand its geographic coverage and customer base. Jardine was acquired in 2015 by Canadian private equity firm SeaFort Capital.
2 min read · 04 June 2019
Young Innovations has acquired Germiphene Corp, a Brantford, Ontario-based manufacturer and distributor of infection control materials and other products for dental use. No financial terms were disclosed. The seller was CEO and owner Leslie Drake, who will continue to provide leadership to the company. Based in Algonquin, Illinois, Young Innovations is a developer and maker of consumable dental products used in preventive, restorative and other procedures. Young Innovations was acquired in 2017 by The Jordon Company (TJC), a U.S. mid-market private equity firm. It is also backed by Linden Capital Partners.
3 min read · 03 June 2019
Canadian private equity firm Onex Corp has wrapped up its acquisition of Gluskin Sheff + Associates Inc (TSX: GS), a Toronto-based wealth management business. The deal, announced in March, had a total consideration of about $445 million (US$330 million). Onex said the transaction brings together "two of Canada’s pre-eminent investment firms and provides investors with a comprehensive investment offering across both private and public markets." Gluskin Sheff will be de-listed from the Toronto Stock Exchange on June 4.
3 min read · 03 June 2019
MacKay CEO Forums, a Vancouver-based peer-to-peer CEO network, has secured an investment from Yellow Point Equity Partners, a Canadian mid-market private equity firm. No financial terms were disclosed. MacKay operates a national, member-based peer learning organization, featuring events and networking activities for CEOs, executives and owners of businesses with revenue of up to $5 billion. Since its inception in 2005, MacKay has grown to more than 1,000 CEOs, executives and owners located across Canada and representing all major industries. Founder and CEO Nancy MacKay said the partnership with Yellow Point will help accelerate the company's growth.
3 min read · 03 June 2019
BDC Capital has provided a non-dilutive facility of $2 million to Nutrasource Pharmaceutical and Nutraceutical Services, a Guelph, Ontario-based contract research organization for the health product and food sectors. The financing, BDC's sixth with Nutrasource, was completed through its Growth and Transition Capital group. Founded in 2002, Nutrasource provides regulatory, research and development (R&D), clinical trials and analytical testing solutions to help companies bring products to market. The facility's proceeds will be used for R&D spending eligible under Ottawa's Scientific Research and Experimental Development tax incentive program.
3 min read · 03 June 2019
