Private Equity
San Jose, California-based Xactly, a provider of cloud-based incentive solutions, has acquired Vaughan, Ontario-based Obero, a sales performance management company. No financial terms were disclosed. The deal comes a year and a half after Xactly announced it had acquired AlignStar, a provider of territory resource management software, for an undisclosed sum. Xactly was acquired last year by U.S. private equity firm Vista Equity Partners for about US$564 million.
4 min read · 14 February 2018
Caisse de dépôt et placement du Québec and Agropur Cooperative, a Longueuil, Québec-based dairy cooperative, said they will set up a joint dairy-focused investment platform. The platform will commit $40 million to companies specializing in dairy-related products and technologies. Robert Coallier, CEO of Agropur, said the strategy will help anticipate the "needs of our customers and consumers and create the dairy products of tomorrow." In 2016, Agropur raised financing from the Caisse, Fonds de solidarité FTQ, Capital régional et coopératif Desjardins, Fondaction CSN and other investors.
3 min read · 14 February 2018
More banks are poised to join a US$14 billion financing backing U.S. private equity firm Blackstone Group’s acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp, banking sources told Reuters. Bank of America Merrill Lynch, Citigroup and JP Morgan are leading the financing and are talking to other banks including Barclays, Deutsche Bank, Goldman Sachs and RBC about joining the deal shortly. “Every man and his dog is pitching to get in on the action,” a loan syndicate head said. The large deal is attracting interest from banks vying for roles on the lucrative underwritten leveraged loan and high yield bond financing. Blackstone will acquire a 55 percent stake in the F&R business in a deal valued at US$20 billion, with Thomson Reuters, controlled by Canada’s Thomson family, retaining a 45 percent holding.
3 min read · 14 February 2018
OPTrust has partnered in the formation of EdgeCore Internet Real Estate LLC, an investment vehicle that will develop, acquire and operate data centres across North America. Together with Mount Elbert Capital Partners and GIC, OPTrust will initially capitalize the vehicle with more than US$800 million to support about US$2 billion in data centre development and investment. In 2018's first half, EdgeCore will begin construction of facilities on land already or soon-to-be acquired in U.S. locations and pursue additional acquisitions and developments. Toronto-based OPTrust invests on behalf of OPSEU Pension Plan.
4 min read · 14 February 2018
InstarAGF Asset Management has agreed to acquire a 50 percent interest in Creative Energy, a Vancouver-based community energy solutions provider. No financial terms were disclosed for the deal, which will see InstarAGF partner with the company to develop, finance, renew and manage energy infrastructure in urban settings. Founded in 1968, Creative Energy owns and operates one of Canada's largest district energy networks in downtown Vancouver, and is developing similar systems for additional neighbourhoods in the Greater Vancouver Area and Toronto. InstarAGF invested through InstarAGF Essential Infrastructure Fund, which raised $740 million last year.
5 min read · 13 February 2018
Demers Ambulances has merged with Braun Industries Inc, a Van Wert, Ohio-based designer and maker of custom ambulances for U.S. customers. No financial terms were released. Beloeil, Québec-based Demers said the merger creates North America's second-largest ambulance maker and will advance innovation and global growth. Demers CEO Alain Brunelle will lead the combined entity. Canadian private equity firm Clearspring Capital Partners led the deal alongside Caisse de dépôt et placement du Québec. Clearspring and the Caisse acquired Demers from Ironbridge Equity Partners in 2016.
4 min read · 12 February 2018
Englobe Corp has acquired Crandall Engineering Ltd, a Moncton, New Brunswick-based provider of engineering consulting services in the civil, transportation, mechanical and electrical fields. No financial terms were released for the deal, which closed last month. Englobe, a Québec City-based soil, materials and environmental engineering specialist, said its combination with Crandall makes it a major service provider in Atlantic Canada. Englobe is a portfolio investment of ONCAP, the mid-market private equity arm of Onex Corp. ONCAP invested in 2006 and later partnered in the company’s acquisitions and go-private deal in 2011.
2 min read · 12 February 2018
Canadian private equity firm Regimen Equity Partners has acquired Radial Engineering Ltd, a Vancouver-based manufacturer of pro-audio accessories and acoustical treatment products sold in nearly 60 countries. No financial terms were disclosed for the deal, which was done in partnership with Mike Belitz, a music industry executive and head of Ultimate Support Systems. Belitz will assume the role of Radial president and CEO, replacing Founder Peter Janis, who is retiring after leading the company since 1991. Radial is the fifth platform investment of Regimen.
3 min read · 12 February 2018
Marc Anthony Cosmetics Ltd has acquired Cake Beauty Inc, a Toronto-based beauty brand specializing in natural, vegan and cruelty-free products. No financial terms were released. Marc Anthony, a Toronto-based developer, marketer and distributor of salon-inspired haircare and bodycare products, said the purchase will help expand its portfolio of brands and support its global growth. Cake Beauty was founded in 2003 by CEO Heather Reier. Marc Anthony, founded in 1995 by CEO Marc Anthony, is a portfolio company of U.S. private equity firm TA Associates. TA Associates invested in the business in 2016.
4 min read · 12 February 2018
Vancouver-based biotechnology company STEMCELL Technologies Inc has secured $15 million in financing from BDC Capital’s Growth and Transition Capital division. Established in 1993 by Dr. Allen Eaves, the company's president and CEO, STEMCELL develops specialized reagents, tools and services supporting research in global cell biology and regenerative medicine. The funding partnership with BDC Capital will help STEMCELL continue to grow through expansion of its research and manufacturing facilities and development of new technologies and infrastructure to support its customer base of biomedical scientists.
2 min read · 12 February 2018
