Private Equity
OMERS Private Equity (OPE) has made an investment in Premise Health Inc, a Brentwood, Tennessee-based direct health care access company. No financial terms were disclosed. The seller is U.S. private equity firm Water Street Healthcare Partners. Water Street established Premise in 2014 when it merged Take Care Employer Solutions, a Walgreen Co subsidiary, with CHS Health Services. Premise today oversees more than 600 employer-sponsored health and wellness centres in 44 U.S. states, Guam and Puerto Rico. OPE is the private equity arm of the Ontario Municipal Employees Retirement System (OMERS).
4 min read · 28 June 2018
Darin Brock has been named board chair of the Association for Corporate Growth Toronto (ACG), a Canadian private equity and M&A industry association. Brock, who has been an ACG board member for nine years, leads business development at Canadian private equity firm TorQuest Partners. Before joining TorQuest in 2006, he was the manager of business development at U.S. private equity firm Platinum Equity. Founded in 1971, ACG Toronto is the 3rd longest operating chapter in the global ACG network. The chapter's day-to-day operations are overseen by President and CEO Mike Fenton, who joined ACG Toronto in 2015.
3 min read · 27 June 2018
Tricon Capital Group has entered into a joint venture agreement to create a portfolio of single-family rental homes to be acquired and managed by its U.S. affiliate Tricon American Homes (TAH). The initiative will be capitalized with equity of $750 million, enabling buys of about 10,000 to 12,000 rental homes with an expected value of about $2 billion. Tricon, a Canadian real estate private equity firm, said it is partnering with a sovereign wealth fund and U.S. state pension plan. Acquisitions by TAH, which will be mostly located in the U.S. Sun Belt, are expected to grow its residential properties to as much as 30,000 over the next three years.
4 min read · 27 June 2018
Canadian alternative equity firm Alaris Royalty Corp has wrapped up its repurchase of units in Labstat International ULC, a Kitchener, Ontario-based analytical laboratory specializing in testing of nicotine-containing products. The repurchase and repayment of debt owed to Alaris by the company resulted from Labstat's sale this week to U.S. private equity firm Warburg Pincus. No financial terms were released. Alaris, which originally invested in 2012, said it received proceeds of $69.5 million with the exit, a total return on its Labstat units of about $57 million, and an internal rate of return of about 19 percent. Founded in 1976 by Executive Chairman William Rickert, Labstat was before 2012 backed by Huron Capital.
3 min read · 27 June 2018
Blackstone Group has launched a US$5.5 billion bridge loan to support the pending bond issuance for its acquisition of a majority stake in Thomson Reuters’ Financial and Risk division (F&R), Reuters reported. The bridge loan is separate from a US$8 billion-equivalent term loan B portion of Blackstone’s US$13.5 billion loan and bond financing, which is also being shown to large institutional investors. The financing package supports Blackstone’s US$20 billion buy of a 55 percent stake in the Thomson Reuters unit.
2 min read · 26 June 2018
Ontario Teachers' Pension Plan has appointed Ziad Hindo as CIO, effective immediately. Hindo, who joined Ontario Teachers' in 2000 and previously led its capital markets division, replaces Bjarne Graven Larsen, who resigned earlier in 2018 after serving as CIO for two years. In the new job, Hindo will oversee the investments division and the overall portfolio. Ontario Teachers' also promoted Jo Taylor to the newly-created role of executive managing director, global development. Taylor previously ran the pension fund's global investment operations out of London and Hong Kong.
2 min read · 26 June 2018
Fonds de solidarité FTQ and Fonds régionaux de solidarité FTQ have invested $70 million in EBI, a Berthierville, Québec-based waste management and renewable energy production company. Founded in 1960, the family-owned EBI collects, transports, manages, processes and disposes of material from the municipal, industrial, commercial and institutional sectors. It is also engaged in the use and distribution of natural gas in Québec's transportation industry. Led by President and CEO Pierre Sylvestre, the company plans to expand across the Americas and around the world.
4 min read · 26 June 2018
The US$8 billion-equivalent term loan B portion of the debt financing backing Blackstone Group’s US$20 billion acquisition of a 55 percent stake in Thomson Reuters’ Financial and Risk (F&R) unit is being shown to large institutional investors before an anticipated September launch, sources told Reuters. The US$13.5 billion financing, which includes loans and bonds, is being led by JP Morgan, Bank of America Merrill Lynch and Citigroup and is the largest buyout financing since the financial crisis.
3 min read · 26 June 2018
Teranet Inc has agreed to acquire D+H Collateral Management Corp, a search and lien registration services affiliate of U.K. financial technology company Finastra Holdings Inc. No financial terms were released for the deal, which is expected to close next month. Toronto-based Teranet said the buy, which is being undertaken by the affiliated CM Solutions Inc, will expand its commercial and registry business in Canada. Founded in 1991, Teranet has been owned since 2008 by OMERS Infrastructure. Finastra was formed last year with Vista Equity Partners' $4.8 billion acquisition of Toronto financial technology solutions provider DH Corp, and the company's subsequent merger with Misys.
4 min read · 25 June 2018
Canada's Hudson’s Bay Co is in discussions with Austrian property and retail group Signa Holding GmbH about a joint venture for its German retail chain Kaufhof, sources told Reuters. The joint ventures calls for Signa’s department store operator Karstadt to acquire half of Kaufhof’s property company, and 51 percent of its operating company, with the option to buy the rest at a later date. Hudson’s Bay rejected Signa’s 3 billion euro bid (US$3.7 billion) for Kaufhof earlier in 2018.
2 min read · 25 June 2018
