Private Equity
Great Canadian Gaming Corp (TSX: GC) and Canadian private equity firm Clairvest Group have closed their acquisition of casino assets in the West Toronto region. Terms weren't disclosed at the time of the deal's announcement in December; however, with the close the investors released a purchase price of about $134 million. Great Canadian and Clairvest own a respective 55 percent and 45 percent interest in a partnership that will run, modernize and further develop the facilities. The partnership entered into a five-year credit agreement to fund 65 percent of the acquisition and provide financing for an initial capital development program.
3 min read · 02 May 2018
Dealmaking in Canada’s buyout and private equity market continued at a strong clip in the first quarter of 2018, according to final data released by Thomson Reuters. Some 81 deals, led by the $4.95 billion buy of Husky IMS International Ltd, captured $13.3 billion in total disclosed values in this period, up 98 percent on a dollar basis from a year ago. However, deal volumes saw a year-over-year decrease of 15 percent, resulting in an average disclosed deal value of $349 million, the highest ever reported. Canada's manufacturing and business-service sectors were the most active in Q1 2018, accounting for a respective 38 percent and 34 percent of disbursements.
4 min read · 02 May 2018
Cvent Inc has agreed to acquire QuickMobile Inc, a Vancouver-based developer of mobile event apps. No financial terms were released for the deal, which is expected to close this month. Cvent, a U.S. cloud-based enterprise event management company, said the buy will broaden and deepen its mobile app and onsite solution capabilities and expand its reach. Founded in 2006, QuickMobile has been backed by BDC Capital, TIMIA Capital Corp, VA Angels and Vancity Capital Corp. Tysons Corner, Virginia-based Cvent was taken private in 2016 by U.S. private equity firm Vista Equity Partners for US$1.65 billion.
3 min read · 02 May 2018
Canadian specialty finance firm Crown Capital Partners has provided a $12 million term loan to DATA Communications Management Corp (TSX: DCM), a Brampton, Ontario-based business communication solutions provider. The loan's proceeds will be used in part to support DCM's acquisition of Perennial Group of Companies, which includes Perennial Inc, a Toronto-based provider of design strategies for major retail brands, and The Finished Line Studios Inc, a Bolton, Ontario-based art studio. In a separate release, DCM said the deal, expected to close this month, reflects a purchase price of about $12 million.
3 min read · 01 May 2018
Canadian restaurant franchising company FDF Restaurant Brandz has acquired Famoso Neapolitan Pizzeria, a pizza chain with 30 locations in Alberta, British Columbia, Ontario and Saskatchewan. No financial terms were released. FDF Brandz, owner of Ricky's Group of Family Style Restaurants, said the deal increases its franchise restaurant locations to 175. It added that it plans to double the number of Famoso locations in Canada and to grow the brand globally over the next five years. Famoso, established in 2007, has been backed since 2012 by Serruya Private Equity, which invests on behalf of Canada’s Serruya family.
3 min read · 01 May 2018
Ontario Teachers' Pension Plan has appointed Dale Burgess to the position of senior managing director, infrastructure and natural resources, effective immediately. Burgess, who is based in Toronto, will oversee the pension fund's infrastructure acquisitions and asset management, as well as investments in agriculture, oil and gas, timberland and minerals. He joined the $189.5-billion Ontario Teachers' in 1996 and most recently served as managing director of the Latin America infrastructure and natural resources team.
2 min read · 01 May 2018
Ontario Teachers’ Pension Plan has wrapped up its sale of a majority stake in Heartland Dental, a U.S. dental support organization, to KKR. No financial terms were disclosed for the transaction, which was announced last month. Ontario Teachers’, which acquired control of Effingham, Illinois-based Heartland Dental in 2012, reportedly for about US$1.3 billion, will retain a "sizeable" interest in the company. Ontario Teachers' Senior Managing Partner, Private Capital, Jane Rowe said her organization looks forward to "our continued partnership with Heartland Dental alongside KKR.”
4 min read · 30 April 2018
Dental Corp of Canada Holdings Inc, a network of general and specialist dental clinics, has received a "significant" investment from L Catterton, a U.S. consumer private equity firm. No financial terms were disclosed. Canadian private equity firm Imperial Capital Group and OPTrust Private Markets Group, which together invested $121 million in Dental Corp in 2014, will continue to hold equity stakes, as will the company's management and dentist shareholders. Established in 2011, Toronto-based Dental Corp is today Canada's largest network of dental clinics with more than 250 separate locations servicing more than 2.5 million patient visits per year.
4 min read · 30 April 2018
Canadian family office PIC Investment Group has created CanGas Propane Inc out of 13 propane distribution branches divested from Superior Propane Corp's 2017 buy of the Canwest Propane business of Gibson Energy Inc. No financial terms were released. CanGas, which has key locations in British Columbia and Alberta, will serve the needs of new and existing residential, commercial, and oil and gas, mining and other industrial customers throughout Western Canada. PIC President and CEO Greg Yuel said his firm will support the operations of the new company as well as its customer growth strategy.
2 min read · 30 April 2018
Luxembourg's Armacell has acquired TB Concept Inc, a Montréal-based developer and maker of tool-free pipe support solutions, including the Insuguard brand. No financial terms were disclosed for the deal, which will see TB Concept's co-founder, President Martin Boudreau, and shareholders join Armacell. Armacell, a provider of flexible foam for the equipment insulation market, and a provider of engineered foams, said the acquisition will strengthen its mechanical insulation accessories business. The company was acquired in 2015 by Blackstone Group and Kirkbi A/S.
2 min read · 30 April 2018
