Private Equity
Toronto-based gold producer TMAC Resources Inc (TSX: TMR) has launched a $90 million offering that includes a $66.5 million private placement transaction. The private placement will be backed by the company's largest shareholders, U.S. mining private equity firm Resource Capital Funds (RCF), Newmont Mining Corp and an investment affiliate of U.S. asset manager BlackRock. TMAC, backed by RCF and Newmont when it went public in 2015, holds a 100 percent stake in the Hope Bay Property, a gold deposit located in Nunavut. It will use the offering's proceeds for debt repayment and Hope Bay-related exploration and capital expenditures.
4 min read · 20 September 2018
Walter Capital Partners has hired Sam Ramadori as a managing partner, according to a news release. Ramadori joins the firm from Dundee Sarea, a mid-market special-situations investor launched in 2015. Ramadori was one of Dundee Sarea’s managing partners. Previously, Ramadori spent nearly eight years as a vice president in the private equity group of Brookfield Asset Management. Montréal-based Walter Capital was established three years ago by its parent, family office Walter Group of Cos, to invest in the growth strategies of small and midsized companies in a range of industries in Canada. Last December, Walter Group doubled its commitment to the firm to $200 million.
2 min read · 20 September 2018
OMERS Private Equity (OPE) has agreed to acquire Paradigm Outcomes, a Walnut Creek, California-based provider of catastrophic and complex case management. Terms weren't disclosed. The seller is U.S. private equity firm Summit Partners, which acquired Paradigm in 2015 from Lightyear Capital. Summit will continue to invest in the company. Established in 1991, Paradigm provides management services to the U.S. workers’ compensation industry, helping to improve health outcomes and lower overall costs. OPE is the private equity arm of the Ontario Municipal Employees Retirement System (OMERS).
4 min read · 20 September 2018
Northleaf Capital Partners has secured US$2.2 billion in new commitments for its global private equity program. The capital was raised for Northleaf Private Equity Investors VII (NPE VII), Northleaf Secondary Partners II (NSP II) and several separately managed accounts. NSP II, the firm's second secondaries fund, was closed above target at US$800 million. NPE VII remains open to new investors until early 2019. Northleaf's strategy combines mid-market fund investments with secondary deals and direct minority investments and co-investments. The Toronto-based firm now manages over US$11 billion in private equity, private credit and infrastructure commitments on behalf of institutional investors in North America and Europe.
4 min read · 19 September 2018
Australis Capital, a U.S. investor in the cannabis industry, has made a non-binding proposal to acquire Rthm Technologies Inc, a Toronto-based mobile health and fitness app. Australis proposes to buy Rthm for $1 million in cash plus common share issues, subject to several conditions. Rthm CEO Alexander Mosa said his company's app addresses the "burden placed on consumers and patients to navigate a variety of cannabis products with divergent biological effects," which he called the "chief shortcoming" of the industry. Founded in 2014, Rthm was backed last year by Canadian consumer venture capital firm District Ventures Capital.
4 min read · 19 September 2018
Impact Group, a U.S. grocery sales and marketing agency, has acquired Cluep, a Toronto-based artificial intelligence-enabled mobile advertising platform. No financial terms were disclosed. Founded in 2012 by CEO Karan Walia, CTO Anton Mamonov and Ad Ops Director Sobi Walia, Cluep helps brands connect with consumers by serving targeted advertising based on social media activity. It will continue operating under the Cluep brand. Impact Group said the acquisition will bring digital resources to clients in the grocery industry. Boise, Idaho-based Impact Group was acquired in 2016 by U.S. private equity firm CI Capital Partners.
4 min read · 18 September 2018
Dfendus Security Solutions Inc has acquired Actron Security Systems Ltd, a Woodbridge, Ontario-based provider of security, surveillance and access control systems. It also acquired Fire & Security Centre Inc, a Dryden, Ontario-based provider of fire protection and alarm and security systems. Terms weren't disclosed. Dfendus, a Thornhill, Ontario-based integrated security business, said the acquisitions will expand its market presence in Ontario. Earlier this year, Dfendus received an investment from Canadian private investment firm Mill Street & Co. The deal supported the company's buy of Inforce Security Corp.
2 min read · 18 September 2018
Westridge Cabinets Ltd, a Red Deer, Alberta-based cabinet maker, has acquired the assets of Classic Kitchens Ltd, a Calgary-based supplier of cabinets for homes and renovation projects. No financial terms were released for the deal, which was funded by Canadian private equity firm Signal Hill Equity Partners. Signal Hill acquired Westridge in 2011. The merger of the companies, which creates Alberta's largest cabinet manufacturer, provides "significant operating efficiencies and scale that we can continue to build and grow with,” Signal Hill Managing Partner James Johnson said.
2 min read · 18 September 2018
Demers-Braun has acquired Crestline Coach Ltd, a Saskatoon-based maker of ambulances and specialized vehicles and distributor of small and medium-sized buses in Canada. No financial terms were disclosed. Demers-Braun, an ambulance manufacturer, said the deal broadens its service offering by bringing specialized vehicles into the portfolio. Demers-Braun was formed earlier in 2018 with the merger of Beloeil, Québec-based Demers Ambulances and Van Wert, Ohio-based Braun Industries Inc. The merger was led by Canadian private equity firm Clearspring Capital Partners alongside Caisse de dépôt et placement du Québec.
2 min read · 18 September 2018
Toshiba Corp is in talks with Canada’s Brookfield Asset Management for the potential sale of its U.K. nuclear unit NuGen, a source told Reuters. Brookfield has emerged as one of several new candidates since Korea Electric Power Corp lost its preferred bidder status in July, the source said. The NuGen project in Moorside, northwest England, was expected to provide around 7 percent of Britain’s electricity, but faced setbacks after Toshiba’s nuclear arm Westinghouse Electric Co LLC went bankrupt last year. Brookfield's private equity group acquired Westinghouse earlier in 2018 for US$4.6 billion.
1 min read · 18 September 2018
