Private Equity
McIntosh Perry Consulting Engineers Ltd has acquired Luiz Leon & Associates Ltd, a Surrey, British Columbia-based provider of structural engineering solutions and services to architects, developers, contractors and government clients. No financial terms were released. McIntosh Perry, an Ottawa-based diversified engineering business, said the deal expands its structural engineering capabilities in Western Canada. In January, the company acquired Calgary's ARA Engineering Ltd with the support of Canadian private equity firm Signal Hill Equity Partners, McIntosh Perry's backer since 2016.
3 min read · 30 April 2018
Fiera Infrastructure has agreed to acquire IslaLink SLU, a Spanish neutral fibre infrastructure provider that specializes in submarine fibre-optic cables and related activities. No financial terms were disclosed. The seller is EQT Infrastructure, a Swedish infrastructure investment firm, which has owned IslaLink since 2014. Established in 1999, IslaLink deploys and operates underwater cables, providing regional telecom companies with the managed bandwidth services they need for retail operations. Fiera Infrastructure, an infrastructure investment firm, is an affiliate of Montréal-based asset manager Fiera Capital Corp.
3 min read · 30 April 2018
Vancouver-based mining company Los Andes Copper Ltd (TSX-V: LA) has agreed to sell 26.8 million units to U.S. mining private equity firm Resource Capital Funds (RCF). The sale of the units, which combine common shares and warrants, is expected to generate more than $8.8 million in proceeds. They will be used by Los Andes to complete technical work on its Vizcachitas project and for other priorities. The company's 100 percent-owned Vizcachitas, located in Chile, is a copper-molybdenum porphyry deposit.
2 min read · 27 April 2018
U.K. investor Actis has bought InterGen's Mexican portfolio of businesses in a US$1.256 billion deal. The portfolio includes 2,200 megawatts in operation with six combined-cycle gas turbine projects and a 155 megawatt wind project with partner IEnova, as well as three gas compression stations and one 65-kilometre gas pipeline. InterGen, a Burlington, Massachusetts-based power generation provider, is owned by Ontario Teachers’ Pension Plan (OTPP) and China Huaneng Group–Guangdong Yudean Group. Last year, the company said its shareholders were exploring a potential sale.
3 min read · 27 April 2018
Regal Ware Inc earlier this month acquired Espro Inc, a Vancouver maker of premium coffee and tea presses and accessories. No financial terms were disclosed. As a result, Espro will become a division of Regal Ware, a U.S. producer of stainless steel and cast aluminum cookware. Espro's founders, Bruce Constantine and Chris McLean, will continue to run the business. Established in 2004, Espro has been since 2014 a portfolio investment of First West Capital, a private equity affiliate of Canadian credit union First West Credit Union.
3 min read · 26 April 2018
Ontario Teachers’ Pension Plan has agreed to sell its 33 percent stake in Bridon-Bekaert Ropes Group (BBRG), a Belgian supplier of advanced cords and ropes to customers in oil and gas, mining, crane, elevator and other industries. No financial terms were released for the deal, which is expected to close in the months ahead. The buyer is Bekaert Group, which partnered with Ontario Teachers' in establishing the business two years ago. BBRG was the result of a merger of Bekaert's rope business with that of U.K.-based Bridon, acquired by Ontario Teachers’ in 2014.
3 min read · 26 April 2018
Australian hospital operator Healthscope Ltd said it had received a US$3.1 billion buyout approach from a new but high-profile domestic private equity firm and its consortium partners just four years after listing, Reuters reported. The indicative offer, one of the highest for an Australian company in the past year, is an audacious debut for BGH Capital. AustralianSuper, the country’s second-biggest pension fund investor, is part of BGH’s consortium and has an existing stake of 14 percent in Healthscope. The group also includes Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan and Singapore’s GIC, according to a separate regulatory filing.
3 min read · 26 April 2018
Ceridian HCM Holding Inc has priced its initial public offering of 21 million shares on the New York Stock Exchange and Toronto Stock Exchange at US$22 per unit. The Globe and Mail reported the company is set to raise more than US$600 million. Concurrent with the IPO, Thomas H. Lee Partners and Cannae Investors, which acquired Ceridian in 2007 for US$5.3 billion, agreed to invest US$100 million more via a private placement. Ceridian, a Minneapolis, Minnesota-based human resources software and service solutions provider, is led by Canadian entrepreneur David Ossip.
4 min read · 26 April 2018
Brazil Tower Co (BTC), a São Paulo-based builder, developer and owner of wireless and broadcast communications towers, has closed a US$79 million first tranche of a US$104 million senior secured debt financing. The tranche was provided by three lenders led by Cordiant Capital, a Canadian emerging markets private credit firm. The proceeds will be used to fund construction of the company's contracted pipeline and refinance debt. BTC, which has built and operates more than 600 towers in Brazil, is backed by 1848 Capital Partners.
3 min read · 25 April 2018
Springs Window Fashions, a Middleton, Wisconsin-based maker and seller of custom window covering products, has agreed to be acquired by U.S. private equity firm AEA Investors and British Columbia Investment Management Corp (BCI). No financial terms were released for the deal, which is expected to close in June. The seller is Golden Gate Capital, which acquired Springs in 2013. AEA said it and partner BCI will back the company's continued growth, organically and through acquisitions. Earlier this month, BCI joined Francisco Partners in the US$3.4 billion buy of Verifone Systems Inc.
4 min read · 25 April 2018
