Private Equity
Omnitracs LLC has agreed to acquire the assets of Shaw Tracking, a fleet management solutions provider in Canada, from Shaw Communications Inc. No financial terms were released for the deal, which is expected to close this summer. Omnitracs, a Dallas-based fleet management solutions specialist, said the buy puts it at the forefront of responding to major changes in the Canadian transportation industry. Omnitracs has been backed by U.S. private equity firm Vista Equity Partners since 2013. The Wall Street Journal recently reported that Vista is planning to sell the business for as much as US$2 billion.
4 min read · 05 June 2017
Canadian private equity firm Ironbridge Equity Partners has acquired control of Avena Foods Ltd, a Regina producer of gluten-free oat products for the celiac and non-celiac gluten sensitive market. No financial terms were disclosed for the deal, which will see Ironbridge partner with the company's management team to pursue continued growth. Founded in 2008 by a group of Canadian farmers, Avena has an established network of more than 90 gluten-free and organic oat growers across the Prairies and a milling facility. Ironbridge closed its third mid-market fund at $238 million last year. Update: Ironbridge said Avena is Fund II's 10th investment.
2 min read · 05 June 2017
Canada's Osisko Gold Royalties Ltd said it had agreed to buy a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group for $1.13 billion (US$839.40 million) to expand its diamond, gold and silver asset base, Reuters reported. Osisko will pay Orion $675 million in cash and the remaining $450 million in Osisko shares. The portfolio consists of 74 royalties, streams and precious metals offtakes and will result in Osisko holding a total of 131 royalties and streams, the company said. Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ agreed to help fund Osisko's acquisition via a $275 million private placement.
2 min read · 05 June 2017
Canadian private equity firm Novacap has invested in Owen & Co Ltd, which operates as Kingsdown Canada, a Toronto-based manufacturer and seller of mattresses and bedding products. No financial terms were released. Founded in 1995, Kingsdown operates out of three manufacturing facilities in Canada and sells its products to furniture retailers, department stores, specialty businesses and hotel chains across North America. Novacap Senior Partner Marc Paiement said the investor will work with Kingsdown's management, led by President and CEO Michael James, to drive growth in existing markets and expand into new markets.
2 min read · 05 June 2017
Aurora Plastics LLC has acquired Reinier Plastics Inc, a Marieville, Québec-based manufacturer of high quality polyvinyl chloride (PVC) compounds and alloys. No financial terms were released. Streetsboro, Ohio-based Aurora, which supplies a range of customized rigid PVC products, said the deal expands its product offering, supply chain and geographic footprint. The company has made plans to invest in Reinier's Canadian facility. Last August, Aurora was acquired by Ontario Teachers’ Pension Plan and U.S. private equity firm Wind Point Partners.
3 min read · 02 June 2017
U.S. private equity firm SK Capital Partners has acquired a majority stake in Tri-Tex Co Inc, a Saint-Eustache, Québec-based specialty chemicals manufacturer and distributor focused on the adhesives, coatings and sealants, surfactants, and textile chemical markets. No financial terms were disclosed for the deal, which saw SK Capital partner with the company's management, led by President and CEO Natalie Laham. SK Capital, which invests in specialty materials, chemicals and pharmaceuticals, said Tri-Tex is positioned to grow through acquisitions that can augment its geographic scope and product portfolio.
3 min read · 02 June 2017
Canadian activist investor West Face Capital disclosed a 5 percent stake in FirstGroup plc after the British transport company's shares fell more than 5 percent, Reuters reported. West Face, a Toronto-based hedge fund, has previously taken stakes in companies such as Maple Leaf Foods Inc and SNC-Lavalin Group Inc.
1 min read · 01 June 2017
Uni-Select Inc (TSX: UNS) has agreed to acquire Parts Alliance Group Ltd, a British distributor of automotive aftermarket parts with 161 corporate stores and 38 affiliated locations. The deal is valued at about $356 million (£205.0 million) and expected to close in the third quarter of 2017. The seller is U.K. private equity firm HgCapital, which first invested in Parts Alliance in 2012. Uni-Select, a Boucherville, Québec distributor of automotive refinish and industrial paint products and aftermarket parts, said the deal will facilitate its entry into the European market with a leadership position in the United Kingdom.
6 min read · 01 June 2017
CIC Capital Canada, an affiliate of French banking group Crédit Mutuel CM11-CIC, has launched a US$500 million North American Growth Fund. The evergreen fund, which will earmark US$150 million for opportunities in Canada, will invest in minority growth equity and buyout deals backing companies with EBITDA of about $3 million to $15 million. Preferred sectors include include food and beverage, healthcare, information technology, specialty manufacturing, business services and aerospace. Montréal's CIC Capital, which manages Emerillon Capital's venture capital fund in partnership with Desjardins Group, also said it plans to open offices in Toronto and the United States.
3 min read · 01 June 2017
The Chilean government has received five offers for a major highway concession in capital Santiago, the ministry of public works said this week, as the South American country seeks to revamp its infrastructure network, Reuters reported. The highway, known as Americo Vespucio Oriente Tramo Principe de Gales-Los Presidentes (AVO II), will cut underneath a large portion of Santiago, at the price of about US$800 million. The bidders include Grupo Costanera made up by Italy's Atlantia and Canada Pension Plan Investment Board (CPPIB).
1 min read · 01 June 2017
