Canada

PE-backed Eagle Creek acquires Madison hydro power assets

Eagle Creek Renewable Energy has closed its buy of about 30 megawatts of hydroelectric facilities from Madison Paper Industries, a U.S.-based partnership of UPM and Northern SC Paper Corp. Terms weren't disclosed. Eagle Creek also bought an interest in the four-megawatt Brassua facility near Rockwood, Maine and a majority stake in the Kennebec Water Power Co, which regulates releases from upstream storage reservoirs on the Kennebec River. Eagle Creek is owned by Hudson Clean Energy Partners and an affiliate of Canada's Power Corp and Claridge, the family office of Stephen Bronfman.

Sentient to join North American Nickel's $3.1 mln financing

Vancouver-based mining company North American Nickel Inc (TSX-V: NAN) has launched a non-brokered private placement offering that is expected to raise about $3.1 million. The offering will be made available to certain subscribers, including the Sentient Group, a resource private equity firm based in the Cayman Islands. Sentient currently holds about 62 percent of the company's issued and outstanding shares. North American Nickel said it will use the proceeds for a work program and additional exploration and drilling activities at its Maniitsoq nickel-copper-platinum-group-elements project in Greenland.

H&F’s Hub International acquires assets of Patrice Varin

Hub International Ltd, a portfolio investment of U.S. private equity firm Hellman & Friedman (H&F), has acquired certain assets from Canada's Patrice Varin through a company held by him. No financial terms were released. With the deal, Varin will join Hub Québec, bringing a commercial line book of business focused on offering bonds and surety products. Hub, a global insurance brokerage with significant operations in Canada, was acquired by H&F for about US$4.4 billion in October 2013. The company has its headquarters in Chicago.

U.K. mobile masts group Arqiva hires banks for IPO: Reuters

Arqiva, a company that runs much of Britain's TV and mobile infrastructure, has hired four banks for an initial public offering, a source told Reuters. The company, whose biggest shareholders include Canada Pension Plan Investment Board and Macquarie Group, has appointed Barclays, Goldman Sachs, HSBC and JP Morgan for the listing, the source said. Arqiva, which carried the BBC's first TV broadcast in 1936, works with major mobile operators, independent radio groups and leading British broadcasters.

Brookfield, Great Canadian to acquire Toronto gaming assets

The private equity group of Brookfield Asset Management has partnered with Great Canadian Gaming Corp (TSX: GC) to acquire gaming assets in the Greater Toronto Area (GTA). No financial terms were released. The gaming assets, which generated gross revenue of more than $1 billion in 2016, was awarded by Ontario Lottery and Gaming Corp as part of its casino modernization. Brookfield and Great Canadian have formed Ontario Gaming GTA LP to invest in the assets, with each partner holding a 49 percent stake. Clairvest Group will hold a 2 percent stake. Great Canadian will operate the facilities on behalf of the other partners. The deal is expected to close in 2018.

Western to invest $5 mln in Saskatchewan senior care homes

Western Investment Co of Canada has agreed to partner with Golden Health Care Inc, a provider of long-term senior care homes across Saskatchewan. The deal, valued at $5 million and expected to close in September, will see Western acquire a 30 percent equity interest in three facilities from Golden Health and other shareholders and secure a one-year option to acquire a 30 percent interest in undeveloped land in Yorkton. Additionally, Western and Saskatoon-based Golden Health will jointly explore the company's potential expansion into new communities. Western is a private equity firm focused on growth and ownership opportunities in Western Canada.

Ontario Teachers' to invest in cosmetics business Intercos

Ontario Teachers' Pension Plan has agreed to acquire a minority stake in Intercos SpA, a Milan, Italy-based supplier of colour cosmetics and skincare products. No financial terms were disclosed. Intercos said President and CEO Dario Ferrari will retain control following the deal, which is intended to strengthen the shareholder structure and help the company pursue development plans. Earlier in 2017, Intercos bought Cosmint SpA, a maker of skin, hair and body care products. Founded in 1972, Intercos has been backed by U.S. consumer private equity firm L Catterton since 2014.

CCMP triples its money with IPO of Jamieson Wellness

CCMP Capital Advisors earned 3x its investment in Jamieson Wellness following the vitamin maker’s recent initial public offering, two sources with knowledge of the matter told PE Hub Canada. Jamieson wrapped up its IPO on the Toronto Stock Exchange last month, raising more than $345 million, including the greenshoe option. Of these proceeds, about $100 million went to CCMP and other selling shareholders. Another part of CCMP’s realization came from a reorganization of the company’s capital prior to the IPO’s close. In the prospectus, Jamieson said it would use the bulk of its $245 million in treasury proceeds to make debt, dividend and other payments to CCMP linked to the capital change.

ARC Financial among bidders for Cenovus' Pelican Lake: Reuters

Cenovus Energy Inc has received separate bids from Canadian Natural Resources Ltd, Canadian private equity firm ARC Financial Corp and others for a heavy oil project in Pelican Lake, Alberta, according to people familiar with the matter who told Reuters the project was valued at as much as $1 billion. Calgary-based Cenovus is also in advanced talks to sell another oil project in Suffield, Alberta, which is likely to fetch between $500 million and $600 million. Cenovus has also received strong inbound interest from several energy companies for buying all or parts of separate midstream assets in the Deep Basin. But there was no formal sale process underway for Deep Basin, a region that straddles Alberta and British Columbia.

Apollo-backed Amp makes strategic investment in FGL

Amp Solar Group, a Port Credit, Ontario solar photovoltaic developer, has made a strategic investment in Faraday Grid Ltd (FGL), a U.K. energy systems designer. No financial terms were disclosed for the deal, which saw Amp become FGL's principal strategic investor. It will also allow Amp to integrate the company's Faraday Grid technology within its portfolio of micro-grid energy solutions and clean energy generation assets. Amp is backed by an affiliate of Apollo Global Management. The affiliate invested US$15 million in the company, and provided $250 million in revolving equity financing, in 2014.