Private Equity
Alaris Royalty Corp has invested US$46 million in GlobalWide Media (GWM Holdings Inc), a Los Angeles-based provider of data-driven digital marketing solutions. The deal's proceeds facilitated a management buyout of an existing sponsor. GWM has been backed since 2012 by Endeavour Capital, a U.S. mid-market private equity firm. The investment entitles Alaris, a Canadian alternative equity firm, to an annualized cash distribution of US$5.58 million. Established in 2006, GWM manages performance and branding campaigns for global advertisers across all forms of digital media.
4 min read · 21 November 2018
Environmental 360 Solutions Inc (E3602), a Toronto-based environmental waste management company founded by President and CEO Danny Ardellini, has officially launched. The launch was backed by Canadian private equity firm Almada, retired hockey player Paul Coffey and others. Terms weren't disclosed; however, the Globe and Mail reported the investors will commit up to $100 million. E360S, which plans to grow partly through acquisitions, also announced its purchase of Can Pak Environmental Inc, an Alix, Alberta-based provider of waste collection services to residential, commercial and industrial customers. Ardellini previously served as co-CEO of Toronto-based environmental services provider GFL Environmental Inc.
3 min read · 21 November 2018
OSG Billing Services has acquired Formost mediaOne, a Brampton, Ontario-based outsourced billing, document and services company. No financial terms were disclosed. Led by CEO John Gaudet, Formost mediaOne was established in 1981 and a subsequent merger. OSG, a Ridgefield Park, New Jersey-based provider of billing and payment solutions and customer communications management, said the buy marks its entry into the Canadian market. OSG was acquired in 2017 by U.S. private equity firm Aquiline Capital Partners.
2 min read · 21 November 2018
PayPal Holdings Inc (Nasdaq: PYPL) has wrapped up its acquisition of Hyperwallet, a Vancouver-based mass payments solutions provider, for about US$400 million. The deal was announced in June. PayPal said the buy will strengthen its payout capabilities and enhance its ability to provide an integrated suite of payment solutions to e-commerce platforms and marketplaces. Hyperwallet was founded in 2000 by Lisa Shields, who served as CEO until 2015. It has since been led by Brent Warrington. Hyperwallet was a portfolio company of U.S. private equity firm Primus Capital. Primus invested in the company's growth strategy in 2014.
3 min read · 20 November 2018
Chalmers Group of Companies has acquired Primus Sterilizer Co LLC, an Omaha, Nebraska-based maker of steam sterilizers used in laboratories, hospitals and pharmaceutical companies. No financial terms were released for the deal, which closed earlier this month. In a separate release, Chalmers, a Mississauga, Ontario-based products supplier to the medical and transportation equipment industries, said Primus will be added to its affiliates Scientek and CSI Jewett. The transaction provided an exit to U.S. private equity firm Blue Sage Capital, which invested in Primus in 2006.
2 min read · 20 November 2018
Montréal-based restaurant franchising business Foodtastic Inc has secured a $47 million investment from Restaurant Royalty Partners (RRP). RRP is a joint venture of U.S. private investment firms Oaktree Capital Management and JHR Capital. Founded in 2011 by CEO Peter Mammas, CDO Lawrence Mammas and COO and CMO Jacques Gaspo, Foodtastic is a franchisor of several restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels and Bacaro. The company said the partnership with Oaktree and JHR will accelerate its acquisition strategy and support organic growth, which includes a plan for opening 18 new restaurants in 2019.
2 min read · 20 November 2018
Canadian gaming and entertainment operator Gateway Casinos & Entertainment Ltd has filed for an initial public offering with the U.S. Securities and Exchange Commission to list its shares on the New York Stock Exchange, Reuters reported. The company set a placeholder amount of US$100 million to indicate the size of the IPO. Vancouver-based Gateway, which recorded total revenue of $484.3 million in the first nine months of 2018, said all shares in the IPO will be sold by shareholders and it does not expect to receive any of the net proceeds from the sale. Its biggest investor is Catalyst Capital Group, a Canadian private equity firm, which acquired Gateway in 2010.
2 min read · 20 November 2018
Canada Pension Plan Investment Board (CPPIB) and British Columbia Investment Management Corp (BCI) have agreed to partner with GLP in a new investment vehicle focused on modern logistics facilities in Europe. GLP Continental Europe Development Partners I, which is expected to reach €2 billion (US$2.3 billion) in managed assets, will receive US$1.1 billion of equity from the partners. CPPIB will commit US$510 million. BCI is participating through its real estate investment arm QuadReal Property Group. Last year, GLP, a Singapore-based logistics solutions provider, acquired Europe's Gazeley from Brookfield Asset Management for US$2.8 billion.
5 min read · 19 November 2018
Investment Management Corp of Ontario (IMCO) has appointed Nicole Musicco as senior managing director, private markets. Based in Toronto, Musicco will be responsible for advancing IMCO's private markets' strategy, establishing partnerships, and sourcing investment opportunities. She joins IMCO from Ontario Teachers’ Pension Plan (OTPP), where she most recently served as a senior managing director and head of public equities. Before then, Musicco was a managing director in OTPP's private equity group, a role that included her heading Asia-Pacific operations. Launched in 2017, IMCO oversees $61.6 billion in assets on behalf of Ontario public-sector institutional investors.
2 min read · 19 November 2018
The Luminaires Group (TLG) has acquired Luminaire Led Inc, an Edison, New Jersey-based manufacturer of durable and vandal resistant LED lighting solutions. No financial terms were disclosed. TLG, a Montréal-based developer, maker and distributor of specification-grade and architectural lighting fixtures, said Luminaire Led's product offering will complement its portfolio of niche brands. Established in 1987, TLG was recapitalized two years ago by U.S. mid-market private equity firm Sentinel Capital Partners.
3 min read · 19 November 2018
