Private Equity
City Capital Ventures (CCV), an affiliate of U.S. investment and merchant banking firm City Capital, has acquired Redberry Group, a Toronto-based franchisee of quick-service restaurant chains Burger King and Pizza Hut. Terms weren't disclosed. Saxonwold Capital is partnering in the deal with CCV. Established in 2005, Redberry operates 111 Burger King restaurants and 23 Pizza Hut restaurants, all located in Canada. CCV Managing Partner Dan Kipp said his firm will back the Canadian expansion of the Burger King and Pizza Hut brands through Redberry. Burger King was acquired in 2010 by Brazilian-U.S. private equity firm 3G Capital. In 2014, Burger King was combined with Tim Hortons for $12.6 billion.
4 min read · 08 February 2019
U.S. private equity firm Thoma Bravo has agreed to acquire Aucerna, a Calgary-based provider of integrated planning, execution and reserves solutions to the oil and gas industry. No financial terms were released for the deal, which is expected to close in Q1 2019. Financing is being provided by Owl Rock Capital, Golub Capital and Fortress Investment Group. Aucerna, formerly known as 3esi-Enersight, provides its software solutions to more than 500 customers from 12 global offices. It is led by CEO Wayne Sim, who founded the company in 2005. Thoma Bravo Managing Partner Scott Crabill said his firm will support Aucerna's continued growth, both organically and through acquisitions.
3 min read · 08 February 2019
Exclusive Group has acquired Fine Tec Canada, a Vancouver-based cybersecurity value-added distributor. No financial terms were disclosed. Fine Tec Canada management, including Founder and CEO Jeff Wu, will remain in their roles to ensure continuity and execute on an accelerated growth plan for the business. Exclusive, a Paris-based value-added services and technologies provider of cybersecurity and data solutions, said the acquisition expands its North American presence. Last year, Exclusive was acquired by U.K. private equity firm Permira.
4 min read · 07 February 2019
AEG Facilities, an affiliate of AEG, and SMG, a portfolio company of Onex Corp, have agreed to merge, creating ASM Global, a standalone facility management and venue services business. Terms weren't released for the deal, which will see Onex, a Canadian private equity firm, and AEG Facilities each own 50 percent of the new company. Based in Los Angeles, ASM will operate a portfolio of arenas, stadiums, convention centres and performing arts centres, with more than 310 venues across five continents. Onex, which acquired SMG last year from Ares Capital Corp, reportedly for about US$1 billion, is committing its entire investment to the merger.
5 min read · 07 February 2019
Laureate Education Inc (Nasdaq: LAUR) has completed its sale of University of St. Augustine for Health Sciences (USAHS), a U.S. educator of healthcare practitioners, primarily in the field of physical and occupational therapy. The deal, announced last April, saw Laureate sell the school to Altas Partners, a Canadian long-term private equity firm, for US$400 million. The 40-year-old USAHS has campuses in San Marcos, California, St. Augustine and Miami, Florida, and Austin, Texas. Last year, Altas also invested in insurance brokerage Hub International and commercial-roofing contractor Tecta America.
4 min read · 06 February 2019
Burton’s Biscuit Co has acquired Thomas Fudge’s, a Dorset, U.K.-based premium biscuit manufacturer. No financial terms were disclosed. The seller was U.K. mid-market private equity firm Livingbridge, which invested in Thomas Fudge’s in 2016. Burton’s, which produces branded and own-label biscuits and snacks, including Maryland Cookies and Jammie Dodgers, said the deal will extend its capabilities and allow it to bring new products to market. Burton's is owned by Ontario Teachers' Pension Plan. Ontario Teachers' acquired it in 2013 from Canadian Imperial Bank of Commerce and Apollo Global Management.
3 min read · 06 February 2019
Cirque du Soleil Entertainment Group has acquired The Works Entertainment, a Los Angeles-based creative and production company known for The Illusionists magic franchise and other variety shows. Terms weren't disclosed. The sellers were Simon Painter, Tim Lawson and Kilburn Live. The deal was funded using a portion of a US$120 million ($158 million) unsecured credit facility provided by Fonds de Solidarité FTQ and Caisse de dépôt et placement du Québec (CDPQ). The acquisition is the third by Cirque, a Montréal-based live performance company, since 2017. Cirque was acquired in 2015 by a group led by TPG Capital and joined by Fosun Capital Group and CDPQ.
4 min read · 06 February 2019
Timber Investments has acquired a 51 percent interest in Columbia Containers Ltd (CCL), a Vancouver-based container transloading facility for bulk grain products. No financial terms were disclosed. The seller was Providence Grain Group, which will retain a 49 percent stake. Established in 1970, CCL's facility, located on Burrard Inlet's south shore, has capacity of more than 1.5 million tonnes. The company also provides freight forwarding services to grain shippers through CWest Solutions Inc. Timber, which has interests in two other B.C. logistics operations, is the investment arm of Canada's Thorlakson family.
3 min read · 06 February 2019
Opta Information Intelligence, an affiliate of SCM Insurance Services, has acquired getClarity, a Campbellville, Ontario-based data and analytical services provider. Terms weren't released. Founded in 2010, getClarity offers consumer behaviour profiling solutions to insurers and other businesses. Opta, a Toronto-based provider of risk information and property data, said the acquisition will help its insurance clients better understand customers and prospects. SCM is an Edmonton-based insurance services provider. Last year, Canadian private equity firm TorQuest Partners sold a portion of its stake in the company, facilitating a majority investment by Warburg Pincus.
3 min read · 05 February 2019
Caliber Collision Centers, a Lewisville, Texas-based auto collision repair business, has closed its merger with Abra Auto Body Repair of America, a Minneapolis, Minnesota-based company that operates in the same sector. Terms weren't disclosed for the deal, which was announced in December. The merger facilitated the sale by OMERS Private Equity of its majority stake in Caliber, acquired in 2013. The company has also been backed by Leonard Green & Partners (LGP) and Penfund. The buyer was Hellman & Friedman, which acquired Abra in 2014. OMERS and LGP will be minority shareholders in the combined company.
5 min read · 05 February 2019
