Private Equity
Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison's total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.
6 min read · 20 October 2017
Revival Gold Inc (TSX-V: RVG), a Toronto-based gold exploration and development company, has completed a private placement financing, raising about $9 million in gross proceeds. Orion Mine Finance Group, a U.S. mining private equity firm, invested in the deal. Additionally, Orion has agreed to become the company's investment partner, providing debt, equity or metal-streaming funding for acquisition and development initiatives valued at US$25 million or greater. Revival holds interests in Idaho's Beartrack Gold Project and Arnett Creek Gold Project and Utah's Diamond Mountain Phosphate Project.
6 min read · 20 October 2017
Vertex Resource Group Ltd, a Sherwood Park, Alberta-based provider of environmental and industrial services, has completed an $85.8 million qualifying transaction on the TSX Venture Exchange. The deal, which saw Vertex amalgamate with capital pool company Vier Capital Corp, allowed Vertex to begin trading on the exchange this week. Canadian private equity firm 32 Degrees Capital acquired about 19.41 percent of issued and outstanding shares as part of the qualifying transaction. Founded in 1976, Vertex provides a range of project services to oil and gas, utilities, telecommunications, forestry, agriculture and other industries.
6 min read · 19 October 2017
Norwegian outdoor clothing company Helly Hansen has agreed to buy British sports brand Musto from Phoenix Equity Partners and other shareholders for an undisclosed sum, Reuters reported. The Musto acquisition would help further its ambitions to grow in the British market and reinforce its position as a sailing clothes specialist, Helly Hansen said. Helly Hansen, founded in Norway in 1877, is majority owned by Ontario Teachers’ Pension Plan. Ontario Teachers' acquired its interest in the company from Altor Funds over 2012-2015.
1 min read · 19 October 2017
Canadian private equity firm Bonnefield Financial has secured an additional $70 million commitment for its fourth farmland fund. The money came from a large Canadian pension plan and brings capital committed to Bonnefield Canadian Farmland IV to $130 million in total. Fund IV, which will continue raising capital, provides Canadian producers with sale-leaseback solutions to grow, reduce debt, and help transition their farm to the next generation, Bonnefield CEO Tom Eisenhauer said. Toronto-based Bonnefield, which now oversees more than $500 million in assets, has a coast-to-coast portfolio that reflects about 100,000 acres, worked by 70 farm families.
2 min read · 19 October 2017
Calgary light oil developer Tangle Creek Energy Ltd has acquired productive assets located primarily in the Waskahigan and Kaybob areas of Alberta for an undisclosed sum. The deal, which grows the company's production to more than 8,000 barrels of oil equivalent per day, is "transformational," CEO Glenn Gradeen said. The acquisition was financed mostly with equity provided by Wells Fargo Strategic Capital, the investment arm of Wells Fargo & Co. As a result, Wells Fargo joins Tangle Creek's existing investors, led by ARC Financial and Camcor Partners. ARC and Camcor have backed the company since April 2011.
2 min read · 18 October 2017
Canadian steelmaker Stelco Holdings Inc’s planned initial public offering could be a tough sell as it faces the twin headwinds of slowing North American auto sales and the uncertain impact of trade talks, even as it looks to cash in on a rebound in steel prices, Reuters reported. Stelco also needs to regain investor confidence just months after emerging from its second bankruptcy in 13 years, analysts and investors said, as its new owner seeks to raise $185 million by selling a stake in the restructured, almost debt-free company. Stelco, now owned by U.S. private equity group Bedrock Industries, filed in late September for the initial public offering and is now marketing it.
3 min read · 18 October 2017
Inmar Inc, which earlier in 2017 was acquired by OMERS Private Equity, has bought Reach I influence, a Detroit, Michigan marketing analytics company. No financial terms were released. Inmar, a Winston-Salem, North Carolina operator of intelligent commerce networks, said the acquisition will provide it with additional resources to help independent retailers and emerging brands compete with large chains and e-commerce players. OMERS Private Equity acquired a majority stake in Inmar from U.S. private equity firm ABRY Partners, the company’s backer since 2014.
3 min read · 18 October 2017
U.S. private equity firm Apollo Global Management has agreed to acquire a majority stake in Catalina Holdings (Bermuda) Ltd, a Hamilton, Bermuda-based acquirer and manager of non-life insurance-reinsurance companies in run-off. No financial terms were disclosed for the deal, which is expected to close in Q1 2018. As a result, Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan will exit their stakes in the company. The two Canadian pension funds have held interests in Catalina for about a decade. Apollo initially invested in December 2013.
4 min read · 18 October 2017
Resolver Inc has acquired RiskVision Inc, a Sunnyvale, California-based developer of risk intelligence solutions for security operations. No financial terms were disclosed. Resolver, a Toronto-based provider of governance, risk and compliance software solutions, said the deal expands its customer base and increases its position in the information technology risk and compliance markets. Resolver earlier in 2017 raised $20 million from Canadian private equity firm Klass Capital, the company's majority owner, for making acquisitions. Resolver also bought Global AlertLink in July.
3 min read · 18 October 2017
