Canada

Apax Partners-owned ECi acquires Lasso Data Systems

ECi Software Solutions Inc has acquired Lasso Data Systems Inc, a Richmond, British Columbia-based provider of customer-relationship management software for new home marketing and sales. Terms weren't disclosed. Founded in 2005, Lasso serves more than 500 builders, real estate developers and new home sales agencies across North America. ECi, a Forth Worth, Texas-based provider of cloud-based business management solutions, said Lasso will become part of its residential home construction unit. ECi was acquired last year by U.K. private equity firm Apax Partners from Carlyle Group and Level Equity.

Empire closes $800 mln acquisition of Berkshire’s Farm Boy

Empire Co Ltd (TSX: EMP.A) has completed its acquisition of Farm Boy Inc, an Ottawa-based retail grocer specializing in fresh produce, meat, bakery, cheese and kitchen-prepared items. The deal, announced in September, valued Farm Boy at $800 million. The seller was U.S. private equity firm Berkshire Partners, which invested in the company in 2012. Empire, a Stellarton, Nova Scotia-based food retailer, said Farm Boy Founder and co-CEO Jean-Louis Bellemare and co-CEO Jeff York will continue in their roles for the long-term.

Finning to acquire Kelso-owned 4Refuel for $260 mln

Finning International Inc (TSX: FTT) has agreed to acquire 4Refuel LP, a Toronto-based provider of mobile on-site refueling services. The purchase price is about $260 million. The deal is expected to close early in 2019. The sellers include U.S. private equity firm Kelso & Co, which acquired 4Refuel in 2013 from TorQuest Partners. The other owners are Penske Truck Leasing, TRP Capital Partners and Crescent Capital. Founded in 1995, 4Refuel serves the construction, transportation, oil and gas, power generation and other sectors in Canada and the United States. Finning, a Vancouver-based Caterpillar equipment dealer, said the acquisition will allow it to provide additional services to new and existing customers.

CPPIB earns $250 mln with sale of stake in Faery Estates

Canada Pension Plan Investment Board (CPPIB) has sold its interest in Faery Estates Private Ltd, the owner and operator of SP Infocity, a Chennai, India-based information technology park. The net proceeds to CPPIB were about $250 million. The sale was made by SPREP Pte Ltd, which acquired shares in Faery Estates in 2015. CPPIB was the vehicle's majority investor. The buyer of the stake was Mapletree Investments Pte Ltd, the real estate investment arm of Singapore sovereign wealth fund Temasek Holdings.

HKW buys fruit and vegetable distributor Fresh Direct Produce

U.S. private equity firm Hammond, Kennedy, Whitney & Co (HKW) has acquired Fresh Direct Produce Ltd, a Vancouver-based distributor of fresh, ethnic, tropical, organic and specialty produce. No financial terms were disclosed. Founded in 2003, Fresh Direct Produce distributes more than 1,000 fruit and vegetable items to the Western Canadian market. It operates via a fleet of 26 trucks and three distribution facilities. President and CEO Davis Yung said HKW's experience expanding businesses organically and through add-on deals makes the investor the "best equipped" to help Fresh Direct Produce realize its growth plans.

Onex to sell home health services provider BrightSpring

Canadian private equity firm Onex Corp has agreed to sell BrightSpring Health Services, a Louisville, Kentucky-based provider of home and community health services to people in need of specialized care. The terms and the buyer were not disclosed. The deal is expected to wrap up in Q1 2019. Onex acquired a minority stake in BrightSpring, formerly known as ResCare Inc, in 2004. In 2010, the investor acquired the remaining interest in a take-private transaction, valuing the company at US$390 million. Onex said it expected the sale to provide a blended gross multiple of invested capital of 5.7 times to the firm.

ParkJockey, Mubadala to buy Impark from Ontario Teachers'

ParkJockey and Mubadala Capital have agreed to acquire Imperial Parking Corp (Impark), a Vancouver-based parking management company. No financial terms were released for the deal, which is expected to close in the first half of 2019. The seller is Ontario Teachers’ Pension Plan, which acquired Impark in 2011 from a joint venture of Gates Group Capital Partners and Global Partners Fund. Established in 1962, Impark operates about 3,600 parking facilities in North America. ParkJockey, a Miami-based parking technology solutions provider, said it also raised a new investment from SoftBank Group. Mubadala is an Abu Dhabi, U.A.E.-based investment firm.

BDC leads $13 mln funding of H2O Innovation add-on deal

H2O Innovation Inc (TSX-V: HEO) has wrapped up its acquisition of Hays Utility South Corp, a Spring, Texas-based provider of water and wastewater asset management services for municipal utility districts. The purchase price was about $8.9 million. H2O, a Québec City-based specialist in technologies for water filtration, treatment and reuse, said the acquisition will expand its business in Texas. The deal was financed by a $13 million private placement of subscription receipts led by BDC Capital. H2O's existing shareholders, Caisse de depot et placement du Québec and Investissement Québec, also invested.

Brookfield wraps up $11.4 bln acquisition of Forest City

Brookfield Asset Management has completed its acquisition of Forest City Realty Trust Inc, a Cleveland, Ohio-based owner, developer and manager of commercial, residential and mixed-use real estate in markets across the United States. The deal, announced in July, reflected a purchase price of US$11.4 billion. As a result, Forest City’s common stock was delisted from the New York Stock Exchange. Its portfolio is now managed by Brookfield Properties. Last week, Reuters reported Brookfield would become the largest single commercial real estate owner in New York City following the close of the Forest City acquisition.

Tavistock affiliate looks to buy minority stake in Callidus Capital

Braslyn Ltd has submitted a non-binding proposal to acquire the outstanding shares of Toronto-based specialty lender Callidus Capital Corp (TSX: CBL) not already held by it and Catalyst Capital Group. Braslyn proposes to buy the shares for $2 per unit. A Globe and Mail report said this values Callidus at about $114 million, excluding debt. Braslyn is an affiliate of Bahamian private investment firm Tavistock Group. It said Callidus' board has not been successful in privatizing the company and that operations and the stock price have deteriorated. Catalyst said in a statement it does not intend to tender shares to the offer. The Canadian private equity firm owns a 72 percent interest in Callidus.