Private Equity
National Seating & Mobility Inc (NSM) has acquired SelfCare Home Health Products Ltd, a Vancouver-based provider of multi-site mobility equipment and home accessibility services. Terms weren't disclosed. The sellers were General Manager Darryl Mackie and Finance and Marketing Director Kim Mackie, who have owned SelfCare since its founding in 1993. They will continue to hold leadership positions in the company. NSM, a Franklin, Tennessee-based provider of complex rehabilitation, mobility and accessibility solutions, said the acquisition is its first in Canada. U.S. private equity firm Court Square Capital Partners acquired NSM in 2016 from Wellspring Capital Management.
2 min read · 03 January 2019
Lex Capital Management has secured $127.5 million in committed capital in the first close of its fourth energy private equity fund. Lex Energy Partners LP IV, targeted at $200 million, was backed by a range of North American limited partners, according to a news release. They included individuals, foundations, family offices and institutional investors. Fund IV will maintain Regina-based Lex's strategy of providing seed, growth or acquisition capital to private early-stage oil and gas companies operating in Western Canada. Since its inception in 2009, the firm has raised more than $417 million across four energy funds and one diversified fund.
2 min read · 03 January 2019
Cobalt 27 Capital Corp (TSX-V: KBLT) has agreed to acquire all of the shares it does not already own in Highlands Pacific Ltd (ASX: HIG), a Brisbane, Australia-based mining and exploration company. The deal is valued at $96 million. It is expected to close in Q2 2019. Highlands' primary assets include a 8.56 percent stake in the Ramu nickel-cobalt mine located in Papua New Guinea. Cobalt 27, a Toronto-based electric metals investment vehicle, said the acquisition will increase its exposure to nickel and cobalt production. Cobalt 27 is backed by Swiss mining private equity firm Pala Investments.
10 min read · 03 January 2019
Total Safety has acquired Pivotal Safety, a Bonnyville, Alberta-based provider of industrial safety services, personnel and equipment. No financial terms were disclosed. Glenn Roberts, formerly Pivotal Safety's president, will lead the combined company’s Canadian unit and assume the role of vice president, Total Safety Canada. Total Safety, a Houston-based provider of industrial safety services, equipment and compliance solutions, said the deal increases its footprint in Western Canada. Total Safety was acquired last year by U.S. mid-market private equity firm Littlejohn & Co. It was previously owned by Warburg Pincus.
2 min read · 03 January 2019
U.S. private equity firm Carlyle Group has closed its acquisition of a majority interest in Sedgwick, a Memphis, Tennessee-based provider of insurance claims management services. The US$6.7 billion deal was announced in September 2018. The sellers were KKR and other shareholders. Stone Point Capital and Caisse de dépôt et placement du Québec, together with Sedgwick management, remain minority investors. The Caisse, a Canadian pension system, invested US$500 million in the company in 2016.
3 min read · 02 January 2019
Aralez Pharmaceuticals Inc (TSX: ARZ) has wrapped up the sale of its Vimovo royalties and operations in Canada to Nuvo Pharmaceuticals Inc (TSX: NRI) for about $150 million (US$110 million). The deal, announced in August 2018, is part of the company's plan to sell its primary assets for about $326 million (US$240 million) and wind down operations. Nuvo, a Toronto-based healthcare business, completed the acquisition with financing supplied by Deerfield Management, a U.S. healthcare investor. Aralez launched in 2016 through a merger backed with US$350 million in Deerfield-led commitments.
3 min read · 02 January 2019
AT&T Inc (NYSE: T) has completed the sale of data centre colocation operations and assets to Brookfield Infrastructure and its institutional partners. As a result of the deal, which was announced in June 2018, AT&T received proceeds of US$1.1 billion. Brookfield has created a new company, Evoque Data Center Solutions, to own and operate the assets. As part of a strategic partnership between AT&T and Brookfield, Evoque will join the former's global colocation ecosystem program, which provides business customers with access to more than 350 data centres.
3 min read · 02 January 2019
Foley’s Candies LP has acquired Brockmann’s Chocolates, a Delta, British Columbia-based chocolate manufacturer. No financial terms were disclosed for the December deal, which saw Foley’s buy the company from the Brockmann family. Kathrin Brockmann will join Foley’s as vice president of customer relations and innovation. Foley's, a Vancouver-based maker of chocolate and confectionary products, said the acquisition will provide significant complementary product and manufacturing resources. Foley’s has been backed since 2016 by Canadian mid-market private equity firm Yellow Point Equity Partners.
3 min read · 02 January 2019
GLP said Dec. 22 that its latest logistics real estate fund, GLP Japan Development Partners III, is expected to raise 625 billion Japanese yen (US$5.6 billion). Canada Pension Plan Investment Board will be the lead investor of GLP JDP III. The fund is a follow-on venture to GLP Japan Development Venture I and II, GLP’s first two Japan development vehicles in partnership with CPPIB. GLP, of Tokyo, provides modern logistics facilities.
2 min read · 26 December 2018
La Caisse de dépôt et placement du Québec said Dec. 21 that it acquired a minority of Grupo SURA's subsidiary Sura Asset Management for US$247 million. The sellers are Bancolombia and Grupo Wiese. Sura Asset Management provides financial services to nearly 20 million clients in Mexico, Colombia, Peru, Chile, El Salvador and Uruguay.
4 min read · 26 December 2018
