Private Equity
Clarivate Analytics has acquired TrademarkVision, an Australian artificial intelligence-enabled visual search engine for trademarks. No financial terms were released. Clarivate, a Philadelphia-based owner and operator of subscription-based businesses, said TrademarkVision will join CompuMark, the company's trademark research and protection brand. Clarivate was launched two years ago with the US$3.55 billion acquisition of Thomson Reuters' intellectual property and science unit by Onex Corp and Baring Private Equity Asia.
4 min read · 01 November 2018
Alignvest Student Housing Real Estate Investment Trust (ASH REIT) has acquired 1Eleven, a purpose-built student accommodation (PBSA) property in Ottawa. Terms weren’t disclosed. 1Eleven is a 16-storey, 357-bed off-campus student residence near the University of Ottawa and Carleton University. The acquisition is the second made by ASH REIT, which in July raised $65 million. It will increase the fund's asset base to about $125 million. ASH REIT is managed by Alignvest Student Housing, an affiliate of Canadian alternative investment manager Alignvest Management Corp.
3 min read · 01 November 2018
Peloton Capital Management, a private equity firm founded by former principals of Ontario Teachers’ Pension Plan, has begun raising its debut fund, PE Hub Canada has learned. The fund, earmarked for long-term investing in mid-market companies in North American financial services, healthcare and consumer sectors, is targeting $400 million to $600 million, people with knowledge of the matter said. In a statement, Peloton said the fund has already been anchored with a $150 million commitment. The capital was supplied by Stephen Smith, CEO of First National Financial Corp, a Canadian mortgage lender. Bank of Montreal, CIBC, Royal Bank of Canada and TD Bank Group also intend to make commitments.
3 min read · 01 November 2018
TIG Advisors this week said it has bought a piece of Canadian mortgage investor Romspen Investment Corp, marking the first time it has taken a stake in another hedge fund, Reuters reported. Romspen, a Toronto-based credit manager, invests $2.5 billion in assets, providing first mortgage bridge lending to commercial real estate projects in North America. Romspen’s management team, led by Mark Hilson and Wes Roitman, will continue to run the firm. New York-based TIG, founded nearly 40 years ago by Carl Tiedemann, oversees roughly US$3 billion in assets and plans on making more investments in other alternative managers.
1 min read · 31 October 2018
Canadian healthcare private equity firm Persistence Capital Partners (PCP) has sold EnvironeX Group Inc, a Québec City-based laboratory testing company. Terms weren't disclosed. The buyer was Eurofins Scientific SE, a bioanalytical testing services provider headquartered in Luxembourg. Founded in 2005 by CEO Marc Hamilton, EnvironeX provides testing services for customers in the environment, agrifood and health and pharmaceuticals sectors in Québec. PCP initially invested in 2015. Two years ago, Eurofins raised a $289 million investment from Caisse de dépôt et placement du Québec. The EnvironeX deal follows PCP's sale of Medisys Health Group Inc in August.
2 min read · 31 October 2018
Canadian mid-market private equity firm TriWest Capital Partners has invested in California TrusFrame LLC (CTF), a Perris, California-based supplier of structural building components. No financial terms were disclosed for the deal, which saw TriWest partner with CTF's management team. Established in 2005, CTF designs and manufactures roof trusses, floor trusses, smart components, wall panels and other components used in residential, multi-family and commercial applications. TriWest Managing Director Chad Danard said his firm will back the company's growth strategy. CTF is the 10th platform investment of TriWest Capital Partners Fund V, which raised $500 million in 2015.
2 min read · 31 October 2018
Canadian private equity firm Walter Capital Partners has acquired a majority stake in Edge Imaging, a Burlington, Ontario-based school and sports photography provider. No financial terms were disclosed. Dan Boudreau, a school photography industry executive, has been appointed CEO of the company, replacing Dave Pond, who will stay on as president and serve on the board. Walter Managing Partner Sam Ramadori said his firm will help accelerate Edge Imaging's national growth strategy. Edge Imaging is the first Ontario platform investment of Montréal-based Walter, an affiliate of Canadian family office Walter Group of Cos.
3 min read · 31 October 2018
Calgary-based oil and gas companies Blackbird Energy Inc (TSX-V: BBI) and Pipestone Oil Corp have agreed to combine. The deal, which will create Pipestone Energy Corp, will be achieved by a conversion of Blackbird's common shares to shares of Pipestone Energy and consolidated on a 10:1 basis. Expected to close in Q1 2019, the deal includes shareholder commitments and other arrangements for $310 million in equity and debt financings. Pipestone Oil is an affiliate of Canadian Non-Operated Resources LP, which is backed by U.S. energy private equity firm Riverstone Holdings and other investors. Pipestone Energy will be the operator of a Montney asset in Alberta's Pipestone region.
10 min read · 31 October 2018
Apollo Global Management LLC is in advanced negotiations to acquire U.S. aluminum products maker Arconic Inc for more than US$11 billion, sources told Reuters. Apollo could reach a deal with Arconic as early as next week after a competing buyout consortium comprising Blackstone Group, Carlyle Group, Onex Corp and Canada Pension Plan Investment Board indicated it may need three more weeks to complete due diligence on the company, the sources said. A transaction would come after U.S. President Donald Trump’s imposition of aluminum tariffs this year drove up some costs for Arconic, which makes aluminum components for cars and airplanes.
2 min read · 31 October 2018
Osisko Mining Inc (TSX: OSK), a Toronto-based mineral exploration company, has agreed to a $25 million equity investment by Caisse de dépôt et placement du Québec. Osisko is focused on the acquisition, exploration and development of precious metal resource properties in Canada. Its holdings include a 100 interest in the Windfall Lake gold project located near Lebel-sur-Quévillon, Québec. The Caisse, a Canadian pension system with $308 billion in net assets, said its private placement will support the continued growth and development of the Windfall project.
3 min read · 30 October 2018
