Private Equity
Blackstone and Thomson Reuters Corp are considering an initial public offering or sale of their stake in Tradeweb Markets LLC, Bloomberg reported. The firms have held talks with Tradeweb shareholders, which include Deutsche Bank, UBS and Royal Bank of Scotland, about selling the company or taking it public this year, the story said. Any sale or IPO won’t happen until U.S. private equity firm Blackstone completes its acquisition of Thomson Reuters' financial and risk unit, Bloomberg said. Tradeweb, a New York bond trading platform, could be valued at more than US$4 billion in an IPO or sale.
1 min read · 21 March 2018
Canadian comedian Howie Mandel and U.S. talent agency ICM Partners have formed an investor group to acquire Just For Laughs Group, a Canadian comedy enterprise that produces the world's largest comedy festival annually in Montréal along with international tours, TV specials and festivals. No financial terms were disclosed. The new owners said they are negotiating with Québec investors about joining their group, which intends to support Just For Laughs' continued growth under existing management. Founded in 1983, Just For Laughs has affiliates in the United States and France as well as production and distribution businesses in more than 135 countries.
4 min read · 21 March 2018
Morgan Stanley Energy Partners (MSEP) has made an undisclosed investment in Specialized Desanders Inc (SDI), a Calgary-based oilfield equipment company which serves customers in the North American and global energy industry. The deal will see MSEP partner with CEO Chris Hemstock and SDI's management team. Founded in 2001, SDI specializes in oilfield equipment that removes sand and other solids during the well flowback and production process. MSEP, the energy private equity affiliate of U.S. financial services firm Morgan Stanley, said the investment will support the company's growth and expand its suite of sand management solutions.
4 min read · 21 March 2018
Brookfield Asset Management and GLP, an Asian provider of logistics solutions, have formed a 50:50 joint venture to develop solar projects on logistics and commercial rooftops in China. The initiative intends to install 300 megawatts of rooftop solar projects over the next three years, with a broader 1 gigawatt development pipeline, equivalent to the annual power consumption of about 750,000 households. Bruce Flatt, CEO of Brookfield, said the partnership represents an "attractive opportunity" for the Toronto-based alternative asset manager to expand its footprint in China’s growing renewables market.
4 min read · 21 March 2018
Brookfield Asset Management has agreed to acquire a 25 percent strategic interest in Link Financial Group, a London-based firm which oversees LCM Partners and other companies that operate a pan-European consumer and business loan servicing platform. No financial terms were disclosed for the deal, which gives Brookfield an option to acquire an additional 24.9 percent stake over time. Toronto-based Brookfield said the partnership will support the growth of Link-LCM's credit platform through expansion into new markets, diversification of its product offering, and the pursuit of investment opportunities.
4 min read · 21 March 2018
Ontario Teachers' Pension Plan has committed to acquire about 3.4 percent of the share capital of Ubisoft Entertainment SA, a French video game publisher, for about $400 million (€250 million). The acquisition forms part of a broader transaction in which Vivendi SA is selling its 27.3 percent interest in the company. China's Tencent Holdings will join Ontario Teachers' in the deal, agreeing to acquire about 5 percent of Ubisoft's capital. Neither investor will gain board representation as a result. Ontario Teachers' will invest in Ubisoft, the producer of games like Assassin's Creed, through the relationship arm of its public equities division.
6 min read · 20 March 2018
Vancouver-based specialty food products company Premium Brands Holdings Corp (TSX: PBH) has acquired four Canadian food businesses for a purchase price of $227 million, $155.9 million in cash. The companies are Concord Premium Meats Ltd, a Concord, Ontario maker of branded and customized protein solutions; The Meat Factory Ltd, a Stoney Creek, Ontario maker of branded cooked protein products; Country Prime Meats Ltd, a Lac La Hache, British Columbia maker of shelf-stable meat snacks, and; Frandon Seafood Inc, a Montréal distributor of fresh and frozen seafood. Premium Brands is backed by Pender West Capital Partners.
6 min read · 20 March 2018
Canada’s Brookfield Asset Management is preparing a local bond sale in Brazil to help finance part of its investment in a Brazilian gas pipeline, sources told Reuters. In what would be Brazil’s largest local bond sale in two years, Brookfield is in talks to issue 5.2 billion reais (US$1.6 billion) in local bonds as part of a strategy to leverage its US$5.2 billion investment in the gas pipeline and raise its profits with the deal. The bonds will be issued by Nova Transportadora do Sudestes (NTS). Last year, a Brookfield-led consortium agreed to acquire a 90 percent stake in NTS from Brazil's state-run Petróleo Brasileiro SA.
2 min read · 20 March 2018
Caisse de dépôt et placement du Québec has invested $10 million in the share capital of FX Innovation, a Montréal-based provider of information technology consulting services and solutions. The funds raised will support FX Innovation's strategy to expand its activities in cloud services and other fields, and make acquisitions in Canada and the United States. The company will also invest in developing solutions for automating IT management. Established in 2002 and led by President and CEO David Marotte, FX Innovation has so far completed more than 3,500 projects.
3 min read · 20 March 2018
Canadian growth equity firm XPND Capital has acquired a 30 percent interest in Direxyon Technologies, a Montréal-based provider of financial modelling and predictive analytics software solutions that are especially adapted to the infrastructure sector. No financial terms were released. Direxyon Chairman Pierre Vigneault, who founded the company in 2001, said the partnership with XPND will support business growth and development worldwide. Direxyon, formerly known as Solutions Modex, last November appointed Mario Bottone to be its president and CEO.
3 min read · 20 March 2018
