Canada

OMERS Private Equity-owned Trescal buys Gero, MCS and ISS

Trescal SA has closed acquisitions of Gero of Brazil, MCS Laboratory AG of Switzerland and Integrated Service Solutions (ISS) of Philadelphia, Pennsylvania, all of them specialty providers of calibration services. No financial terms were disclosed. Trescal, a Paris-based calibration specialist and services provider to the testing and measuring equipment market, said the deals strengthen its market presence in Brazil, Switzerland and the United States. Gero, MCS and ISS are the 12th, 13th and 14th acquisitions by Trescal since it was bought in 2018 by OMERS Private Equity, an investment arm of Canadian pension fund OMERS, in a deal valued at US$787 million.

Singapore's PO&G to acquire PE-backed Canbriam Energy

Pacific Oil and Gas Ltd (PO&G) has agreed to acquire Canbriam Energy Inc, a Calgary-based developer of liquids-rich natural gas resources. Terms weren't released for the deal, which is expected to close before July 1, 2019. Shareholders accounting for more than 90 percent of Canbriam's outstanding shares have agreed to vote for the transaction. The company's owners include ARC Financial Corp, Ontario Teachers’ Pension Plan and Warburg Pincus. PO&G is the energy development affiliate of Singapore conglomerate Royal Golden Eagle. Canbriam and PO&G said the deal will create a well-capitalized Canadian growth platform positioned to develop Canbriam's asset base in the Montney region of British Columbia.

Norwest-backed Galvanize, formerly ACL, preparing for IPO: G&M

Galvanize Inc, formerly ACL Services Ltd, a Vancouver-based governance, risk management and compliance software provider, is preparing for an initial public offering (IPO), according to a report by the Globe and Mail. President and CEO Laurie Schultz told the Globe that Galvanize aims to be "public company-ready by 2022." Founded in 1987, Galvanize two years ago secured a $50 million minority investment from U.S. venture capital and growth equity firm Norwest Venture Partners. The deal was intended to accelerate the company’s consolidation of the integrated risk and performance software market. The Globe said Norwest has invested a total of US$70 million in Galvanize.

Five Arrows and TA Associates-owned RLDatix to buy iContracts

RLDatix has agreed to acquire iContracts, a Bridgewater, New Jersey-based provider of contract, policy and revenue management solutions to the healthcare and life sciences industries. Terms weren't released for the deal, which is expected to close in the weeks ahead. RLDatix, a patient safety software platform based in Toronto and London, the United Kingdom, said the deal broadens its reach in the governance, risk management and compliance space. RLDatix, owned by Five Arrows Principal Investments and TA Associates, was formed last year with the merger of RL Solutions and Datix. Susquehanna Growth Equity, which backs iContracts, will become an investor in the combined business.

CDPQ partners with Lightsource BP in $260 mln solar platform

Caisse de dépôt et placement du Québec (CDPQ) has agreed to partner with Lightsource BP in a $260 million (£150 million) debt investment in a portfolio of solar assets. The facility will initially be used to finance more than 100 solar projects located internationally and totalling over 700 megawatts. The portfolio is owned by Lightsource BP, a London, U.K.-based funder, developer, acquirer and operator of solar assets. Over time, the facility could expand with further investment from CDPQ financing assets developed through Lightsource BP's pipeline. CDPQ said the deal is part of its strategy to address climate change and capture opportunities from the transition to a low-carbon economy.

BDC Capital invests $6 mln in Lynx Equity's buy of Alpine Shredders

BDC Capital recently provided $6 million in mezzanine financing for the acquisition by Lynx Equity of Alpine Shredders, a Kitchener, Ontario-based provider of mobile shredding trucks. Lynx, a Canadian private equity firm, announced it had acquired the company in February. No financial terms were disclosed. BDC invested through its Growth & Transition Capital group. The transaction was led by Director Mark Lunick. Established in 2004, Alpine designs and builds paper shredding and mobile truck equipment for the North American market.

Novacap-backed GTI expands into U.S. with Jetco acquisition

GTI Transport Solutions Inc has acquired Jetco, a Houston-based transporter providing flatbed, heavy-haul, intermodal, logistics and specialized loads in the United States. No financial terms were disclosed for the deal, which follows GTI's acquisition in February of Precision Specialized Division Inc. GTI, a Dorval, Québec-based provider of open-deck, specialized and over-dimensional freight services, said the Jetco transaction allows it to expand into the United States and create an operational platform there. The company now has seven locations in the United States and three in Canada. GTI was acquired in 2014 by the industries group of Canadian mid-market private equity firm Novacap.

Peerage Capital unit to buy Sotheby's International Realty Canada

An affiliate of Canadian private equity firm Peerage Capital Group has agreed to acquire Sotheby's International Realty Canada (SIRC), a Toronto-based luxury real estate company. Terms weren't released for the deal, which is expected to close this month. Peerage Realty Partners Inc, a Toronto-based luxury real estate brokerage organization, is buying SIRC from Dundee Corp. The acquisition will expand Peerage Realty's market footprint and add agents and $5 billion in annual sales. Don Kottick will become SIRC's new president and CEO. Peerage Capital invests in real estate, asset management, wealth advisory services, land assembly and aviation services.

Reverence Capital to buy majority of PSP-backed Advisor Group

U.S. private equity firm Reverence Capital Partners has agreed to acquire a 75 percent stake in Advisor Group Inc, a Phoenix, Arizona-based network of independent financial advisors. Terms weren't disclosed. The main sellers were U.S. private equity firm Lightyear Capital and Canadian pension fund Public Sector Pension Investment Board (PSP Investments), which acquired the company in 2016. The deal, expected to close in Q3 2019, will see Lightyear, PSP and other investors retain a 25 percent interest. Centerbridge Partners was in talks to acquire Advisor Group for more than US$2 billion, Bloomberg reported in April.

Fengate invests in Newark Airport rent-a-car facility project

Conrac Solutions, a Renton, Washington-based developer of consolidated rent-a-car facilities, has closed financing for a US$500 million project planned for Newark Liberty International Airport. The financing was arranged by Conrac Solutions Capital with equity provided by Related Fund Management and Fengate Asset Management. A consortium of banks also provided debt financing. The Newark project is expected to begin this year, with completion of the consolidated rent-a-car facility in 2023. Fengate is a Toronto-based investor in infrastructure, private equity and real estate.