Private Equity
La Coop fédérée has acquired Standard Nutrition Canada (SNC), a Winnipeg-based provider of livestock nutrition products and services. No financial terms were disclosed for the deal, which does not include the U.S.-based assets of Standard Nutrition Co, SNC's seller. La Coop fédérée, a Montréal-based agri-food enterprise and collective, said the acquisition will expand its animal nutrition operations in Western Canada. Last year, the company raised a $200 million investment from National Bank of Canada, Fonds de solidarité FTQ, Fondaction CSN and Capital régional et coopératif Desjardins.
4 min read · 24 April 2018
Meltwater, a San Francisco-based media intelligence company, has acquired Sysomos, a Toronto-based provider of social media monitoring and analytics. No financial terms were released. The seller was OMERS Private Equity (OPE), which backed Sysomos' spin out from portfolio company Marketwired Inc in 2015. Marketwired was sold to Nasdaq the following year. Meltwater said the acquisition will expand its ability to incorporate online news and data with social media analytics in one platform. Peter Heffring, who recently replaced former Microsoft Corp executive Lindsay Sparks as CEO of Sysomos, will now oversee Meltwater’s social analytics division.
3 min read · 24 April 2018
Canada Pension Plan Investment Board (CPPIB) said Pierre Lavallée, senior managing director and global head of investment partnerships, will be leaving effective May 2. As a result of this and other personnel changes, Shane Feeney, current senior managing director and global head of private investments, will become global head of private equity, overseeing direct private equity, funds, secondaries and co-investments, and Asian activity. CPPIB also announced several promotions, including John Graham's move to head of credit investments, and Suyi Kim's move to head of Asia Pacific. Both Graham and Kim will join CPPIB’s senior management team.
5 min read · 24 April 2018
OMERS Infrastructure has agreed to sell its interest in Airports Worldwide Inc, a Houston-based investor in and developer and operator of privatized airports, to Vinci Airports, an affiliate of France's Vinci SA. No financial terms were disclosed for the deal, which is expected to close later this year. It will give Vinci a portfolio of airport assets and management contracts located in the United States, Costa Rica, Northern Ireland and Sweden. OMERS Infrastructure, an investment arm of Ontario Municipal Employees Retirement System, first invested in Airports Worldwide in 2009.
3 min read · 24 April 2018
Canadian telecommunications gear maker Mitel Networks Corp is selling itself to an investor group led by U.S. private equity firm Searchlight Capital Partners for about US$2 billion ($2.6 billion), Reuters reported. Excluding Ottawa-based Mitel’s net debt, the deal is worth about US$1.34 billion, according to Thomson Reuters calculation. The deal is expected to close in the second half of 2018. Terry Matthews, Mitel's co-founder and chairman, said the transaction will provide Mitel with "additional flexibility as a private company to pursue the company’s move-to-the-cloud strategy.”
1 min read · 24 April 2018
Dane Creek Capital Corp (DCCC) has acquired Naturawls Pet Products, a St. Thomas, Ontario-based maker of raw pet food and dehydrated treats for dogs and cats in Canada. No financial terms were disclosed for the deal, which will see the Canadian pet-focused merchant bank pay a portion in cash and the remainder in equity from United Raw Pet Food Inc, DCCC's pet foods holding company. DCCC will retain a majority stake in United Raw, while Mark Murakami, Naturawls' founder and CEO, will lead both his business and the holding company. Naturawls is DCCC's third buy of a raw pet food maker.
4 min read · 23 April 2018
Canadian royalty financing firm Grenville Strategic Royalty Corp has promoted Robb McLarty to CIO and acting CEO. He replaces Steve Parry in the latter role. Parry, who co-founded Grenville in 2013, will resign from the board and assume an advisory role with the firm. McLarty, who joined Grenville in 2016 as a managing director, previously served in senior roles at Farwest Ventures and NGEN Partners. Toronto-based Grenville also said its portfolio company Boardwalktech Inc, a provider of digital ledger technology, has raised $10 million and closed a reverse takeover with Wood Composite Technologies Inc.
3 min read · 23 April 2018
Anthem Properties Group Ltd, a Vancouver-based real estate development, investment and management company, has raised $200 million in new funding. KingSett Capital, a Canadian private equity real estate investment firm, supplied the eight-year facility, which will be used by Anthem to retire shorter-term debt and fund continued growth. Founded in 1991 by CEO Eric Carlson, Anthem has invested in, developed or managed over 200 residential, commercial and retail projects with a total value of about $5 billion. Its primary focus is markets in British Columbia, Alberta and Northern California.
3 min read · 23 April 2018
Fairfax Financial Holdings Ltd has offered to buy the Canadian stores of Toys “R” Us out of bankruptcy for US$300 million, the Wall Street Journal reported. The offer is subject to higher bids; the sale would also include Canadian business’ intellectual property, including its brands, the story said. Toronto-based Fairfax is the holding company of Canadian billionaire Prem Watsa.
1 min read · 23 April 2018
Canadian gaming company The Stars Group Inc said it had agreed to buy Sky Betting and Gaming from owners European private equity firm CVC Capital Partners and Sky Plc, in a deal worth US$4.7 billion, Reuters reported. It had been expected that CVC, 80 percent owner of the online betting site Sky Bet, would list the company publicly. But Toronto-based The Stars Group announced a deal that it said would create the world’s largest publicly-listed online gaming business. The deal comprises US$3.6 billion in cash and the rest in newly-issued shares.
2 min read · 23 April 2018
