Private Equity
La Maison Simons Inc has bought Rituels.ca, a Québec City-based company specializing in traditional shaving and grooming products and accessories for men. Terms weren't disclosed. Simons, a Québec City-based apparel retail store operator, said the acquisition, the first in its 178-year history, will enhance its product range for male customers. Rituels Founding President Michael Carpentier will continue to lead the brand as a Simons executive. Earlier this year, Caisse de dépôt et placement du Québec and Investissement Québec invested $44 million in Simons, gaining a stake in the company.
4 min read · 23 July 2018
Canadian private equity firm Onex Corp has agreed to acquire KidsFoundation Holdings BV, a Dutch childcare services provider, in partnership with existing management. No financial terms were released for the deal, which is expected to close later this year. The seller is U.S. private equity firm HIG Capital. HIG established KidsFoundation in 2014 through the acquisition of assets from the estate of Estro Group. KidsFoundation offers nursery care as well as before- and after-school care services. It currently provides childcare for more than 30,000 children across 281 centres. In 2018, Onex closed its fifth flagship private equity fund, Onex Partners V, securing US$7.15 billion in committed capital.
3 min read · 19 July 2018
Digital Media Solutions LLC (DMS) has acquired W4 Performance Ad Market, a Los Angeles-based digital performance advertising network. No financial terms were released. DMS, a Clearwater, Florida-based digital marketing and lead generation services provider, said the deal gives it extensive distribution across online channels, "allowing the company to control hundreds of millions in online advertising spend." In 2016, DMS secured a US$20.5 million investment from Canadian private equity firm Clairvest Group.
4 min read · 19 July 2018
Fonds de solidarité FTQ has invested $100 million in a partnership with Port de Montréal to fund companies with a development project connected with the port's logistics chain. The financing, which will be made available as share capital or an unsecured loan, is intended to attract Canadian and foreign businesses that want to set up near the port's facilities in Montréal and Contrecœur. It will also help existing users of facilities develop their activity. Port de Montréal is the second largest port in Canada. It handles a range of goods, including containerized and non-containerized cargo, liquid bulk and dry bulk.
4 min read · 19 July 2018
GCR Inc, a U.S. professional services and software products provider, has acquired MB3 Technologies Inc, an Ottawa-based software company focused on emergency grants management. Terms weren't disclosed. Launched in 2005 by President and CEO Matt Blakely, MB3’s software has helped manage grants for disasters throughout the United States. GCR said the acquisition will strengthen its software solutions for public safety and disaster recovery. Based in New Orleans, GCR was acquired last year by U.S. private equity firm Hammond, Kennedy, Whitney & Co.
2 min read · 19 July 2018
Farsound Aviation Ltd has acquired Sterling Aircraft Products Inc, a Concord, Ontario-based distributor of fasteners used in the gas turbine engines of aerospace and power generation customers. No financial terms were disclosed for the deal, which saw Farsound buy the company from the family of Sterling President Hans Pump. Romford, U.K.-based Farsound provides maintenance, repair, and overhaul supply-chain management services to the aerospace and defence sectors. It said the deal will expand its product portfolio. Farsound was acquired in 2011 by U.K. private equity firms Rubicon Partners and Grovepoint Capital.
2 min read · 19 July 2018
Intertape Polymer Group Inc (TSX: ITP) has agreed to acquire Polyair Inter Pack Inc, a Toronto-based maker and marketer of protective packaging products, including bubble cushioning, foam, mailers and air pillow systems. Intertape, a Montréal-based packaging company, agreed to pay about $192 million (US$146 million) in cash. The deal is expected to close in the third quarter. Founded in 1968, Polyair operates seven manufacturing facilities in North America. Intertape said the deal will strengthen its product bundle, bring additional scale of protective solutions, and facilitate cross-selling. Polyair has been backed by U.S. private equity firm Glencoe Capital since 2004.
4 min read · 19 July 2018
Aritzia Inc (TSX: ATZ), a Vancouver-based women’s fashion brand, said U.S. private equity firm Berkshire Partners and another investor will sell subordinate voting shares for $16.55 per unit. The secondary offering is expected to generate proceeds of more than $100 million or more than $115 million if the greenshoe option is exercised in full. Upon completion of the offering, and assuming no exercise of the greenshoe option, Berkshire will hold about 22.4 percent of issued and outstanding shares and about 45.1 percent of the voting power attached to all of the shares. Aritzia went public in 2016, raising $460 million. Berkshire acquired the company in 2005.
4 min read · 18 July 2018
Detour Gold has asked the Ontario Securities Commission (OSC) to investigate activist investor Paulson and Co’s campaign seeking change at the company, calling it “concerning and unlawful behavior,” Reuters reported. The U.S. hedge fund, run by billionaire John Paulson, has threatened to replace the company’s board if it does not successfully explore strategic alternatives, including a sale, and look for a new CEO. It owns 5.4 percent of Detour Gold. Earlier, the hedge fund issued a press release saying Detour Gold had received a buyout offer from another gold miner, but had failed to disclose it publicly.
2 min read · 18 July 2018
Vancouver-based gaming company Gateway Casinos & Entertainment Ltd has struck a deal with Ontario Lottery and Gaming Corp (OLG) to acquire the assets of OLG's Central Gaming Bundle. Terms weren't disclosed. As a result, Gateway entered into leases for Casino Rama Resort on Chippewas of Rama First Nation lands and OLG Slots at Georgian Downs in Innisfil. Gateway, which was awarded bundles in Northern Ontario and Southwestern Ontario last year, now operates 11 gaming properties in the province. The deal increases its properties in Canada to 27. Gateway has been owned since 2010 by Canadian private equity firm Catalyst Capital Group.
5 min read · 18 July 2018
