Private Equity
Resource Label Group LLC has acquired Ingenious Packaging Group LLC, a Toronto-based provider of labelling solutions to the food, beverage, health and beauty, spirits, nutraceutical, distribution, tobacco and pharmaceutical industries. No financial terms were disclosed. Ingenious is the former Canadian affiliate of U.S.-based Tapp Label Co, which was reportedly acquired earlier this year. Resource Label, a Franklin, Tennessee-based pressure-sensitive label manufacturing company, is backed by U.S. private equity firm First Atlantic Capital and the growth fund of U.S. firm TPG. First Atlantic initially invested in 2011, while TPG invested in May.
4 min read · 31 July 2018
Canadian private equity firm Beringer Capital has hired Adam Greco as an analytics advisor to the firm's Digital Experience Fund. Greco is an Adobe Analytics expert and author of the Adobe SiteCatalyst Handbook. He has served in executive roles at Omniture and Salesforce.com and is currently a senior partner at Analytics Demystified. The Digital Experience Fund invests in technology-intensive companies that serve advertising and marketing brands. Earlier this month, Toronto-based Beringer sold shopper marketing solutions provider Match Marketing Group Inc to U.S. private equity firm Southfield Capital.
2 min read · 31 July 2018
Canada Pension Plan Investment Board (CPPIB) and Alberta Investment Management Corp (AIMCo) have agreed to back a joint venture that will acquire industrial properties in key U.S. logistics markets. The joint venture, which is being formed in partnership with WPT Industrial Real Estate Investment Trust (REIT), a Toronto-based investor in U.S. warehouse and distribution assets, will seek to deploy up to US$1 billion. CPPIB and AIMCo will each own a 45 percent stake in the joint venture. WPT Industrial REIT will hold the remaining interest and manage the acquired properties.
4 min read · 31 July 2018
Monroe Capital has provided a senior credit facility to support Digital Media Solutions LLC's acquisition of W4 Performance Ad Market, a Los Angeles-based digital performance advertising network. No financial terms were released. The add-on deal was announced earlier this month. DMS is a Clearwater, Florida-based digital marketing and lead generation services provider. In 2016, the company secured a US$20.5 million investment from Canadian private equity firm Clairvest Group.
2 min read · 31 July 2018
Canada's Brookfield Asset Management said it would buy Forest City Realty Trust Inc in a deal valued at US$11.4 billion, including debt, months after Forest City ceded board control to activist shareholders, Reuters reported. Forest City had been looking to sell itself and had reached out to more than 50 potential buyers, but failed to strike a deal. In March, it abandoned the sale process. Forest City’s portfolio includes office space, life science assets, retail space and multifamily units, as well as large-scale projects in New York, San Francisco and Washington, D.C.
1 min read · 31 July 2018
Canada’s Alberta Investment Management Corp (AIMCo) has reached an agreement with Brazilian private equity firm IG4 Capital Investimentos SA to inject 400 million reais (US$107.26 million) in the Brazilian water and sewage service holding company Iguá Saneamento SA for an undisclosed stake, Reuters reported. The proceeds will be used to finance capital expenditures in Iguá’s 18 existing concessions and public-private partnerships in five Brazilian states. IG4 Capital has been Iguá’s controlling shareholder since 2017 and will maintain that position after the capital injection.
1 min read · 31 July 2018
Cequence Energy Ltd (TSX: CQE) has entered into a refinancing agreement with CPPIB Credit Investments, the credit arm of Canada Pension Plan Investment Board, providing for a $60 million second-lien senior secured term loan facility. The facility will be used to retire an existing $60 million in senior notes held by CPPIB. As part of the deal, Cequence has agreed to issue share purchase warrants entitling CPPIB to buy up to 15 percent of the company's common shares. Cequence, a Calgary-based oil and gas producer, said the refinancing and related transactions will allow it to more actively develop its Dunvegan light oil play.
8 min read · 30 July 2018
A U.S. affiliate of BluEarth Renewables LP has bought a 795-megawatt wind development portfolio located in Wyoming. No financial terms were disclosed for the deal, which saw BluEarth acquire the assets from Boulder, Colorado-based wind developer Intermountain Wind LLC. BluEarth said it will advance development of the portfolio towards commercial operation. Based in Calgary, BluEarth builds, owns and operates wind, hydro and solar facilities across North America. It has been backed by Ontario Teachers’ Pension Plan since 2014. Ontario Teachers' acquired majority ownership in 2015.
2 min read · 30 July 2018
Premium Brands Holdings Corp (TSX: PBH) has acquired a 62.6 percent stake in Yorkshire Valley Farms Ltd, a Peterborough, Ontario-based processor and marketer of organic chicken products. Terms weren't disclosed. Founded in 2010 by group of farming families, Yorkshire operates a 40,000 square-foot processing facility in Harriston, Ontario. The company, which is led by President and CEO James Sculthorpe, mostly sells its products under the Yorkshire Valley Farms brand. Premium Brands, a Vancouver-based specialty food products company, said the deal allows it to expand into organic protein products. Premium Brands is a portfolio investment of Canadian family office Pender West Capital Partners.
3 min read · 30 July 2018
U.K. private equity firm Hilco Capital has sold Tilley Endurables Inc, a Toronto-based hat and apparel designer and manufacturer, to Gibraltar & Co. No financial terms were disclosed. Tilley, founded in 1980 by Canadian entrepreneur Alex Tilley, makes lightweight, hard-wearing clothing and accessories for adventurers and travellers. Its products, which include the iconic Tilley Hat, are sold in retail outlets worldwide. The company was acquired in July 2015 by Re:Capital Canada, a Hilco investment platform. Gibraltar & Co, a Canadian investment firm focused on consumer product companies, is led by Founder, CEO and Managing Partner Cam di Prata.
2 min read · 30 July 2018
