Private Equity
Wynnchurch Capital has closed its 12th platform investment in Canada, buying a maker of products used in home and commercial hardscaping projects. The mid-market private equity firm said today it acquired Alliance Designer Products, a Mirabel, Québec-based maker of polymeric sand and installation products sold mainly to contractors, dealers and manufacturers. Terms weren’t disclosed. The seller was the Tutino family, including President George Tutino and Senior Vice President Jack Tutino, brothers who founded the business in 2003. Alliance’s market focus and strategy proved a draw for Wynnchurch, which will support the company’s “next stage of growth,” Managing Director Morty White told PE Hub Canada.
2 min read · 23 April 2019
Acelity LP Inc, a San Antonio, Texas-based wound care and surgical applications company, said its affiliate KCI Holdings Inc has filed with the U.S. Securities and Exchange Commission for a proposed initial public offering. The number and price of shares to be sold on the New York Stock Exchange has not been determined. Following the offering, KCI's owners, Apax Partners, Canada Pension Plan Investment Board (CPPIB) and Public Sector Pension Investment Board (PSP Investments), will continue to hold a majority stake, the filing said. Apax, CPPIB and PSP Investments acquired KCI in 2011 for US$6.3 billion.
2 min read · 22 April 2019
Lone Wolf Technologies has acquired zipLogix, a Fraser, Michigan-based provider of transaction management, electronic forms, and e-signature solutions for the real estate industry. Terms weren't disclosed. Lone Wolf, a Cambridge, Ontario-based residential real estate software company, said the zipLogix platform will be integrated with its transaction management portfolio. It added that Lone Wolf and zipLogix together service more than 1.4 million agents, 20,000 offices, and 1,000 MLSs and associations in North America. Lone Wolf is backed by U.S. technology private equity firm Vista Equity Partners. Vista initially invested in 2015 and increased its stake in 2016.
4 min read · 22 April 2019
Trendline Interactive has acquired Inbox Marketer, a Guelph, Ontario-based data-driven e-mail marketing services provider. No financial terms were disclosed. Inbox Marketer was founded in 2002 by CEO Geoff Linton. Trendline, an Austin, Texas-based e-mail consulting and professional services business, said the deal strengthens its strategy, data management and analytics service offerings. Trendline is backed by Growth Catalyst Partners (GCP), a U.S. lower mid-market private equity firm. GCP invested in the company's 2018 acquisition of Inbox Pros.
4 min read · 22 April 2019
Mercer Park Brand Acquisition Corp, a special purpose acquisition corporation (SPAC), has filed a preliminary prospectus with Canadian regulatory authorities outside of Québec for an initial public offering (IPO). The IPO is for Class A restricted voting units of US$10 per unit, for total proceeds of US$250 million. The SPAC plans to list on the Neo Exchange. For a qualifying transaction, Mercer Park Brand will target one or more acquisition opportunities with a focus on branded product businesses in cannabis and cannabis-adjacent industries. Mercer Park Brand is sponsored by Mercer Park, a U.S. family office.
6 min read · 18 April 2019
TFI International Inc (TSX: TFII) has agreed to acquire certain assets of BeavEx Inc, an Atlanta-Georgia-based provider of transportation, warehousing and courier services, and its affiliates. The purchase price is US$7.2 million, including the assumption of working capital liabilities. The deal, approved by the United States Bankruptcy Court for the District of Delaware, is expected to close this month. TFI, a Montréal-based transportation and logistics company, said the acquisition will expand its last-mile and expedited capabilities. BeavEx was acquired in 2011 by Eos Partners, a U.S. private equity firm.
3 min read · 18 April 2019
Canada Pension Plan Investment Board (CPPIB) has agreed to invest a further €110 million ($166 million) in Visma Group, an Oslo, Norway-based provider of business software and services in Europe. The announcement was made by U.K. technology private equity firm HgCapital, Visma's majority shareholder, which said it will invest an additional €640 million. The investments by Hg and CPPIB realize the interest held by Cinven. The deal values the company at more than €6.5 billion. CPPIB first invested in Visma in January, acquiring part of the stake held by Hg.
4 min read · 18 April 2019
Swedish engineering company Sandvik has agreed to acquire Newtrax Technologies Inc, a Montréal-based provider of internet-of-things and analytics technology for monitoring underground operations. Terms weren't released. Founded in 2008, Newtrax is led by Alexandre Cervinka. The company will be run as an independent unit in Sandvik's mining and rock technology group. Sandik said the acquisition will create a stream-lined digital solution to improve safety and efficiency in underground mining. Newtrax has been backed since 2014 by Jolimont Global Mining Systems, an Australian private equity fund backed by Jolimont Capital and Resource Capital Funds.
2 min read · 17 April 2019
Ovivo Inc has acquired Varec Biogas, a U.S. affiliate of Westech Industrial Ltd, a Calgary-based supplier of analytical instrumentation and process control equipment. No financial terms were disclosed. Based in Stafford, Texas, and Huntington Beach, California, Varec designs, services and distributes biogas safety and handling equipment for municipal waste management and industrial applications. Ovivo, a Montréal-based water treatment company, said the acquisition is complementary to its biosolids management and resource recovery offering. Ovivo was acquired in 2016 by German family office SKion GmbH and Caisse de dépôt et placement du Québec for $185 million.
3 min read · 16 April 2019
Entertainment One (eOne) has acquired Audio Network Ltd, a London-based creator and publisher of music for use in film, television, advertising and digital media. The purchase price was about US$215 million ($286 million). EOne, a Toronto-based entertainment content studio, said the acquisition will add to its capabilities as a music brand. EOne is a portfolio company of Canada Pension Plan Investment Board (CPPIB). In 2015, CPPIB acquired a minority interest from Marwyn Investment Management for $290 million. Audio Network was backed by Stripes Group, a U.S. growth equity firm.
4 min read · 15 April 2019
