Private Equity
Prometheus Group has acquired Solufy Information Technologies Inc, an Ottawa-based provider of planning and scheduling applications for IBM’s Maximo EAM system. Terms weren't disclosed. CEO Mario Boileau and Vice President Gerry Lamarche, who founded Solufy in 2003, will remain with the company. Prometheus, a Raleigh, North Carolina-based provider of plant maintenance operations and optimization software, is a portfolio investment of U.S. private equity firm Francisco Partners. Francisco acquired a majority stake in the company in 2016.
3 min read · 04 October 2018
A consortium comprised of the real estate investment arm of Canada's Brookfield Asset Management, British privately owned investment firm Peel Group and Saudi conglomerate Olayan Group is considering a possible cash offer for Intu Properties, Reuters reported. The offer is for the share capital of Intu not already owned by consortium members. The group has until November 1 to make a firm offer. Intu is a £2 billion (US$2.6 billion) U.K. owner and operator of shopping centres. Like other property businesses, it has been hit by tough conditions in the U.K’.s retail sector this year that have forced a number of shopping chains to collapse.
2 min read · 04 October 2018
Stornoway Diamond Corp (TSX: SWY), a Montréal-based diamond explorer and developer, has entered into a series of financing deals of up to $129 million. The deals include a loan principal repayment deferral agreement and amendments to a streaming agreement involving Osisko Gold Royalties Ltd, Caisse de dépôt et placement du Québec, Triple Flag Mining Finance, Albion Exploration Fund and Washington State Investment Board. Additionally, the Caisse agreed to invest $20 million in Stornoway, giving it an 11.4 percent interest and board representation, while an IQ affiliate agreed to invest $10 million. Stornoway said the transactions will provide it with financial and operational flexibility.
8 min read · 03 October 2018
ECi Software Solutions Inc has acquired Office Document Consulting Inc (ODC), an Oakville, Ontario-based provider of sales automation software for the office equipment, managed print and information technology channels. No financial terms were released. ODC was founded in 2011 by President Mike Lamothe. ECi, a Forth Worth, Texas-based provider of cloud business management solutions, said the deal broadens its capabilities for serving office equipment and managed print services customers. ECi was acquired last year by U.K. private equity firm Apax Partners from Carlyle Group and Level Equity.
3 min read · 03 October 2018
Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan have agreed to invest alongside Impulsora del Desarrollo y el Empleo en América Latina (Ideal) in Pacifico Sur, a 309-kilometre toll road in Mexico. CPPIB and Ontario Teachers’ together will acquire a 49 percent stake in the toll road's concessionaire for an initial $314 million and a possible second payment of up to $218 million. Ideal, a Mexican infrastructure company, will hold the remaining interest. The deal builds on a 2016 transaction that saw CPPIB and Ontario Teachers’ pay $1.35 billion for a 49 percent stake in Mexico's Arco Norte toll road.
4 min read · 03 October 2018
Clairvest Group has acquired a minority stake in Meriplex Communications Ltd, a Houston-based managed solutions provider, focused on designing, implementing and overseeing intelligent network solutions for business clients in the United States. Terms weren't disclosed. Clairvest, a Canadian private equity firm, did the deal in partnership with existing management led by CEO David Henley. Henley said Clairvest will provide capital and expertise to fuel his company's network and customer expansion. Meriplex is Clairvest's 51st platform deal and the seventh investment of Clairvest Equity Partners V, which raised $600 million in 2014.
2 min read · 03 October 2018
Public Sector Pension Investment Board (PSP Investments) has agreed to acquire the stake of Arcus Infrastructure Partners in U.K. ports group Forth Ports Ltd. No financial terms were disclosed. Arcus first invested in group in 2008, while PSP invested in 2011. Forth Ports owns and operates eight commercial ports on the United Kingdom's Firth of Forth, Firth of Tay and the Thames, including positions in Tilbury (London), Grangemouth, Dundee, Rosyth and Leith (Edinburgh). Patrick Samson, PSP managing director and head of infrastructure investments, said the pension system will support the growth of Forth Ports and enhance its asset management responsibilities.
4 min read · 03 October 2018
Pestell Group has acquired BPV Environmental, a Byron Center, Michigan-based manufacturer of paper animal litter, small animal bedding, and lawn and garden products. No financial terms were released. Based in New Hamburg, Ontario, Pestell is an animal feed minerals and ingredients distributor, and cat litter and small animal bedding products maker. The acquisition expands its product portfolio and supports further growth in the Midwestern United States. Pestell was acquired in June by U.S. private equity firm Wind Point Partners. Wind Point collaborated in the deal with Matt Miller, who joined Pestell as CEO.
4 min read · 03 October 2018
Clairvest Group has set an $800 million target for its sixth mid-market fund, which would be the largest in the private equity firm’s 31-year history. Clairvest Equity Partners VI is expected to begin fundraising in Q1 2019, Vice Chairman and Managing Director Jeff Parr and President and Managing Director Michael Wagman told PE Hub Canada. Closing on $800 million would give CEP VI 33 percent more committed capital than its predecessor, which raised $600 million in 2014. The Toronto firm will do this by expanding its base of North American limited partners. Clairvest will launch fundraising with momentum, thanks to a series of lucrative exits over the past 23 months.
1 min read · 02 October 2018
Canadian Business Growth Fund (CBGF) has invested $15 million of minority capital in Lift Auto Group, a Kelowna, British Columbia-based owner and operator of a network of automotive collision repair centres. The deal will support Lift's growth strategy in Western Canada, which includes acquiring small operators in the collision repair industry. A portion of CBGF's investment allowed the company to acquire an Edmonton operator. Lift is led by President and CEO Mark Reineking. It is the debut deal of CBGF, a Toronto-based provider of equity and debt financing to Canadian mid-market companies. The fund launched this year with $545 million in commitments from 13 financial institutions.
3 min read · 02 October 2018
