Private Equity
Shareholders of Nord Anglia Education Inc (NYSE: NORD) have voted in favour of the company's acquisition by Canada Pension Plan Investment Board (CPPIB) and Baring Private Equity Asia. The deal, announced in April, values Nord Anglia at US$4.3 billion, including debt. With the deal's forthcoming close, the company will be delisted from the New York Stock Exchange. Based in Hong Kong, Nord Anglia operates 46 international schools located in China, Europe, the Middle East, Southeast Asia and North America.
3 min read · 22 August 2017
Namakor Holdings, Caisse de dépôt et placement du Québec and the Québec Manufacturing Fund have acquired Gelpac Inc, a Marieville, Québec-based manufacturer and distributor that specializes in packaging solutions for industrial and consumer products. No financial terms were released. The deal, a business transfer, saw the three investors appoint Alain Robillard as Gelpac's president and general manager. Established in 1956, Gelpac has customers in North America's food, agriculture, construction, retail and pharmaceutical sectors. The Caisse invested in the company through Fonds Relève CDPQ, which backs Québec succession projects.
4 min read · 22 August 2017
Sprott Resource Holdings Inc (TSX: SRHI) has agreed to acquire 70 percent of the outstanding equity of SC Minera Tres Valles, which owns the Minera Tres Valles copper mining and refining complex in Salamanca, Chile. SRHI agreed to buy the stake from Vecchiola SA, a Chilean mining services and supply company, for US$39.9 million in cash and shares. The deal is expected to close in the fourth quarter of fiscal 2017. SRHI, a Toronto-based resource holding company, was formed earlier in 2017 as a result of the merger of Canadian private equity firm Sprott Resource Corp with Adriana Resources Inc.
5 min read · 22 August 2017
Isodiol International Inc has raised a convertible debenture financing of $25 million from Alumnia Partners, a U.S. private equity firm. Based in Vancouver, Isodiol is a developer of pharmaceutical and nutraceutical grade cannabis compounds and maker of cannabis consumer products. Its products include hemp-derived skin care applications. Isodiol will use the funds raised to continue expansion into Latin American, Asian and European markets and pursue strategic acquisitions. The company is led by CEO Marcos Agramont.
2 min read · 22 August 2017
Canadian private equity firm A5 Capital has acquired Shift Marketing Studio Inc, a London, Ontario-based provider of digital loyalty and conquest marketing programs to auto dealerships. No financial terms were released. The announcement was made by U.S. mid-market investment bank Woodbridge International LLC, which represented Shift Marketing in the deal. Founded in 2010, Shift Marketing helps dealerships engage potential customers through discounts and promotional offers for pre-negotiated deals. It is led by CEO David Briand. Pickering, Ontario's A5 Capital is focused on acquiring growing companies with more than $1 million of EBITDA.
1 min read · 21 August 2017
Telus International has acquired Voxpro, a Cork, Ireland-based provider of outsourced multilingual customer service, technical support and sales operations solutions. No financial terms were disclosed. Telus International, a business process and IT outsourcing company, said the deal enhances its offering and expands its geographic footprint. Telus International is the global arm of Canada's Telus Corp (TSX: T, NYSE: TU), a telecommunications provider. Last year, Telus sold a 35 percent interest in the affiliate to Baring Private Equity Asia for $600 million.
4 min read · 21 August 2017
U.S. private equity firm AEA Investors has partnered with Ontario Teachers’ Pension Plan in the recapitalization of Traeger Pellet Grills LLC, a Salt Lake City, Utah-based designer, maker and marketer of wood-pellet grilling and outdoor cooking products. U.S. private equity firm Trilantic North America, which initially invested in Traeger Grills in 2013, and CEO Jeremy Andrus will re-invest in the deal, the financial terms of which were not disclosed. As a result of the recapitalization, AEA will become the company's new majority shareholder. Traeger Grills was established in 1990.
5 min read · 21 August 2017
U.S. private equity firm Warburg Pincus has agreed to make an investment in eSentire Inc, a Cambridge, Ontario-based managed detection and response services provider. No financial terms were released for the deal, which is expected to close in September. It will accelerate eSentire’s next growth phase by expanding cybersecurity services to existing clients and outreach to new clients. The deal will also provide liquidity to eSentire's existing investors. The latter include Edison Partners and Georgian Partners, which led the company's US$19.5 million financing last year, as well as Cisco Investments, Northleaf Capital Partners and Information Venture Partners.
4 min read · 21 August 2017
Dubai Aerospace Enterprise Ltd (DAE) has become one of the world's largest aircraft lessors after announcing this week it had completed the acquisition of Dublin-based AWAS, the industry's tenth biggest business, Reuters reported. The deal triples the Dubai government-controlled aircraft leasing and maintenance company's portfolio of owned, managed and committed fleet to about 400 aircraft worth more than US$14 billion. DAE said last month it had raised US$2.3 billion to finance the acquisition from British private equity firm Terra Firma Capital Partners and Canada Pension Plan Investment Board (CPPIB). Terra Firma and CPPIB invested in AWAS in 2006.
2 min read · 21 August 2017
AreaOne Farms wrapped up its third farmland private equity fund, raising $130 million thanks to institutional investors seeking initial access to agricultural assets. AreaOne Farms Fund III exceeded by 30 percent its $100 million target in a close last month, Joelle Faulkner, president and chief executive of AreaOne, told PE Hub Canada. The fund secured 4x the combined total raised by its two predecessors over 2013-2014. The Toronto firm achieved this by signing up more limited partners, including first-time institutional backers.
3 min read · 21 August 2017
