Private Equity
EverZinc has acquired G.H. Chemicals Ltd and its affiliate Microzinc Inc (GHC), a Saint-Hyacinthe, Québec-based manufacturer and exporter of French Process zinc oxide products. Terms weren't disclosed. The sellers were Stephan Tabah and Philippe Bailet. Established in 1974, GHC produces various grades of zinc oxide to supply customers in industrial, pharmaceutical and agricultural sectors. EverZinc, a Brussels, Belgium-based specialty zinc chemical company, said the add-on complements its global operations. EverZinc was acquired in 2016 by U.S. private equity firm OpenGate Capital.
3 min read · 25 January 2019
Avison Young has acquired Front Street Commercial Real Estate Group, a Gainesville, Florida-based commercial real estate brokerage and property management company. No financial terms were disclosed. Avison, a Toronto-based provider of commercial real estate services, said the acquisition brings its U.S. offices to 59 in all. Over the past decade, the company's worldwide network of offices has grown from 11 to 87. Last year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec. The deal facilitated the exit of Canadian mid-market private equity firm Parallel49 Equity.
8 min read · 24 January 2019
Spinrite has agreed to acquire the North American crafts business of Coats Group plc, an Uxbridge, U.K.-based industrial thread manufacturer. Spinrite agreed to pay US$37 million in cash, Coats said in a separate release. The deal is expected to close in the coming weeks. It includes craft brands Red Heart, Coats & Clark, Aunt Lydia and Susan Bates, Anchor, Dual Duty XP and J&P Coats. Spinrite, a Listowel, Ontario-based craft company and craft knitting yarns provider, will also gain U.S. manufacturing and distribution sites. Last year, U.S. private investment firm Comvest Partners acquired Spinrite from Canadian private equity firm TorQuest Partners.
2 min read · 24 January 2019
Alberta Investment Management Corp (AIMCo) has agreed to acquire a minority stake in Davies Group, a London-based provider of claims solutions, insurance services and customer experience programs to clients in highly regulated markets. Terms weren't released for the deal, which is expected to close in the second quarter. The seller of the interest is U.S. mid-market private equity firm HGGC. HGGC invested in Davies two years ago and will continue to be its majority shareholder. James Ridout, a director in AIMCo's private equity group, said the Canadian pension fund will help Davies capitalize on additional global growth opportunities.
3 min read · 24 January 2019
Canada Pension Plan Investment Board (CPPIB) has invested in Visma Group, an Oslo, Norway-based provider of business software and services in Europe. No financial terms were released for the deal, which will see CPPIB realize a part of the investment held by U.K. technology private equity firm HgCapital, Visma's majority shareholder. The company's other investors include Cinven, GIC, Intermediate Capital Group and Montagu Private Equity. Established in 1996, Visma serves about 800,000 private and public sector enterprise customers in the Nordic, Baltic and Benelux regions.
2 min read · 23 January 2019
Syntax Systems has agreed to acquire Freudenberg IT (FIT), a Morrisville, North Carolina-based cloud provider and information technology service provider. Terms weren't released for the deal, which is expected to close in Q1 2019. FIT, which manages SAP applications in the cloud for global enterprise customers, is being sold by Freudenberg Group, a German technology conglomerate. Canadian mid-market private equity firm Novacap, which acquired Syntax in 2016, provided equity financing for the transaction. Montréal-based Syntax is a provider of cloud-managed enterprise resource planning (ERP) services. It said the buy will extend its reach to the SAP ecosystem and create growth opportunities in Europe and Asia.
4 min read · 22 January 2019
Public Sector Pension Investment Board (PSP Investments) has invested in Alliant Insurance Services Inc, a Newport Beach, California-based specialty insurance brokerage. Terms weren't disclosed for the deal, which will see U.S. financial services private equity firm Stone Point Capital, the company's largest institutional shareholder, add to its investment. Following the transaction, Alliant's management and producers will continue to own the majority of the business. PSP Managing Director Martin Longchamps said the Canadian pension fund's investment will support Alliant's continued growth.
3 min read · 22 January 2019
Thoma Bravo is preparing for an initial public offering (IPO) or sale of Trader Corp, an Etobicoke, Ontario-based digital automotive marketplace, according to a report by the Globe and Mail. Sources told the Globe and Mail that Thoma Bravo is expected to launch an IPO in the next six weeks that would allow it to sell a portion of its interest in Trader. The U.S. private equity firm is also willing to sell the entire company if a buyer steps forward, the sources said. Thoma Bravo recently hired a syndicate of investment banks to advise on a potential IPO or sale, the report said. Thoma Bravo acquired Trader in 2016 for about $1.57 billion. The seller was U.K. private equity firm Apax Partners.
1 min read · 21 January 2019
Cooper Equipment Rentals Ltd has acquired Star Rentals Ltd, a Surrey, British Columbia-based equipment rental company. No financial terms were disclosed. Doug Johnson, president and owner of Star Rentals, will assume a senior role with Cooper, a Mississauga, Ontario-based provider of compact, aerial and heavy construction and industrial equipment. Cooper said the acquisition facilitates its entry into the B.C. market and brings it closer to establishing a Canada-wide network of branches. Cooper, which currently operates 39 rental locations, was acquired in 2013 by Canadian private equity firm SeaFort Capital.
3 min read · 21 January 2019
Fengate Asset Management, on behalf of Labourers’ Pension Fund of Central and Eastern Canada (LiUNA), has provided follow-on financing to NRStor C&I, a Toronto-based developer of behind-the-meter energy storage solutions. Terms weren't disclosed for the deal, which saw Fengate and Lake Bridge Capital also invest. NRStor C&I, an affiliate of NRStor Inc, serves energy consumers in the commercial and industrial segments. It will use the proceeds to strengthen its presence in the Canadian market. Two years ago, LiUNA agreed to supply NRStor with $11 million in financing as well as access to $200 million in additional capital. Fengate is managing the investment.
3 min read · 21 January 2019
