Private Equity
Swiss packaging maker SIG Combibloc is moving ahead with preparations for an autumn stock market listing in Zurich that could value it at about 4.5 billion euros (US$5.5 billion), sources told Reuters. Its Canadian private equity owner Onex Corp has hired Goldman Sachs, Credit Suisse and Bank of America as global coordinators for the listing. Ahead of the listing, Onex will also sound out potential buyers for the beverage and food manufacturer it bought in 2015 from New Zealand billionaire Graeme Hart in a deal valued at 3.75 billion euros (US$4.62 billion), one source said.
2 min read · 09 April 2018
Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the shares of ES3 Insurance Services Ltd, which does business as ES3 Advisory. No financial terms were released. Based in Vancouver, ES3 Advisory is an employee benefits and pension consulting company. Led by Faizal Mitha, vice president of employee strategies, the business will join Hub International TOS Ltd. Hub, a Chicago-based insurance brokerage, was acquired by H&F for about US$4.4 billion in October 2013.
2 min read · 09 April 2018
AXYZ International Inc has acquired WARDJet Inc, a Tallmadge, Ohio-based designer and maker of tailored waterjet cutting solutions used in a range of industries. No financial terms were disclosed. AXYZ, a Burlington, Ontario-based maker of computer numerical control (CNC) router and knife cutting systems, said the deal facilitates its entry into the waterjet industry. AXYZ, founded in 1991, now has 13 owned-and-operated offices in Canada, the United States, Europe and India and plans to open additional offices. The company was acquired last year by HanMac Capital Corp, a Canadian family office.
3 min read · 09 April 2018
Cation Capital, a private investment firm led by the former deputy head of global oil and gas at Macquarie Group, said this week it intends to nominate four candidates to Crescent Point Energy Corp’s board at a shareholders meeting next month, Reuters reported. Cation said it was “compelled to take this action given the significant destruction of shareholder value and the abject failure of the Canadian oil producer’s current leadership across all aspects.” Calgary's Crescent Point, in return, said Cation’s last-minute demand was unreasonable and reckless, adding that the firm “appears to have been created for the sole purpose of creating conflict and havoc.”
2 min read · 09 April 2018
Canadian private equity firm Fulcrum Capital Partners has acquired an equity ownership position in Accucam Machining, a Cambridge, Ontario-based supplier of steel parts to heavy equipment makers in global material handling, agricultural and construction industries. No financial terms were disclosed. Fulcrum said it will partner with the company's founders to support further growth initiatives. Established in 1987 and led by President Nick Eelhart, Accucam has production facilities at its Canadian headquarters and in Qingdao, China. It represents the seventh platform investment of Fulcrum Capital Partners V, which raised $344 million in 2015.
2 min read · 09 April 2018
Three large pension fund managers said this week they had invested 1 billion euros (US$1.22 billion) in Madrid-based Globalvía Inversiones SA, a transportation infrastructure developer, Reuters reported. Globalvia is 40.8 percent owned by the Netherlands’ PGGM, 40.3 percent owned by Canada’s OPTrust, and 18.9 percent owned by Britain’s USS. Toronto-based OPTrust, which has more than $20 billion in assets under management, and PGGM first invested in Globalvia in 2011 as part of a recapitalization deal.
1 min read · 06 April 2018
Quorum Software, a portfolio company of U.S. private equity firms Silver Lake Partners and Silver Lake Kraftwerk, has agreed to acquire Calgary-based Entero Corp, a provider of energy software solutions for the upstream and midstream sectors. No financial terms were disclosed. The deal beefs up Quorum's presence in the Canadian midstream sector, the company said. Based in Houston, Quorum is a provider of software that helps energy providers solve complex business challenges. Silver Lake Partners and Silver Lake Kraftwerk acquired the company in 2014.
5 min read · 06 April 2018
Canada’s Nemaska Lithium Inc is in talks with U.S. private equity firm Orion Mine Finance Group on a lithium streaming deal, sources told Reuters. Nemaska Lithium, which is developing a lithium mine and processing plant in Québec to meet growing demand for the material used in rechargeable batteries, said last week it was negotiating a US$150 million streaming deal. Orion may also provide debt financing. Separately, the company said this week Japan’s SoftBank Group Corp will buy a stake of up to 9.9 percent and invest up to $99.1 million via a private placement.
2 min read · 06 April 2018
Lifting Solutions Inc, an Edmonton-based oilfield services company, has acquired all the Canadian continuous rod service assets of an unidentified multinational operating in the same sector. No financial terms were disclosed. Lifting Solutions, which specializes in artificial lift and production solutions, said the deal increases its fleet size to 320 pieces of equipment, with service units capable of pulling and running continuous rod now standing at 47. It also doubles the company's headcount. Founded in 2014, Lifting Solutions is backed by Canadian energy private equity firm ARC Financial Corp.
3 min read · 06 April 2018
U.S. video telematics provider Lytx Inc has secured US$700 million in financing in a deal that values the business at more than US$1.5 billion. A group of investors participated, including Clearlake Capital Group and Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund manager. They join the company's controlling shareholder GTCR, a U.S. private equity firm. GTCR acquired Lytx in March 2016. Based in San Diego, California, Lytx's video telematics help commercial and public sector fleets improve driver behaviour and reduce collisions and related expenses.
6 min read · 06 April 2018
