Canada

Sentinel Capital Partners invests in Altima Dental Centres

U.S. private equity firm Sentinel Capital Partners has made an undisclosed investment in Altima Dental Centres, a Canadian dental services organization. The platform deal is Sentinel's fifth in the dental industry. Founded in 1993 by Dr. Sven Grail and Dr. George Christodoulou, Toronto-headquartered Altima operates more than 30 dental clinics in Canada and provides services to more than 200,000 patients annually. Paul Murphy, a partner at Sentinel, said the deal will support the company's next phase of growth. Sentinel's other Canadian portfolio investments include The Luminaires Group, which was recapitalized in June 2016.

Grenville leads $250k royalty funding of cloud based meeting software eSCRIBE

Firm Capital buys Harlem multi-family properties

Toronto-based private equity firm Firm Capital and Rhodium Capital Advisors LLC have acquired a portfolio of seven multi-family properties in Harlem for over $36 million. GFI Realty LLC and FSA Realty Services LLC served as real estate brokers on this deal while Palladium Capital Advisors LLC and Eastern Union Funding LLC were equity and mortgage brokers, respectively.

Hull Street Energy to buy MAXIM's U.S. subsidiary for $106 mln

Calgary, Alberta-based power producer Maxim Power Corp has agreed to sell subsidiary Maxim Power (USA) Inc to Hull Street Energy for $106 million. Credit Suisse is advising Maxim on the transaction.

Clairvest hikes up majority stake in Discovery Air

Canadian mid-market private equity firm Clairvest Group has acquired additional shares in Discovery Air Inc, a specialty aviation and logistics company headquartered in Etobicoke, Ontario. According to terms of the transaction, Clairvest purchased over four million shares in Discovery Air at $0.20 per share, increasing its majority stake to about 81 percent.

Brookfield to buy stake in RCOM's Indian tower assets for $1.6 bln

Indian telecommunications service provider Reliance Communications Ltd (RCOM) has agreed to sell a stake in its mobile tower assets to Brookfield Infrastructure Partners and its institutional partners. RCOM will receive an upfront cash payment of US$1.6 billion as a result of the sale. RCOM, a Navi Mumbai affiliate of the Reliance Group, said the deal represents the largest investment by an overseas financial investor in India's infrastructure sector. In July, Toronto-based Brookfield Asset Management announced the US$14 billion close of its third global infrastructure fund.

Fairfax Financial to invest $150 mln in Mosaic Capital

Fairfax Financial Holdings Ltd has agreed to invest in Mosaic Capital Corp, a Calgary-based private equity firm. Fairfax agreed to subscribe for $150 million of senior preferred securities, secured debentures and common share purchase warrants. If the warrants are fully exercised, it would own about 66 percent of Mosaic's shares. With the deal's close, expected in January, Fairfax President Paul Rivett will be appointed as a director. As part of the deal, Mosaic and Fairfax agreed to work together on mid-market private equity opportunities. Mosaic appointed Mark Gardhouse as its CEO in July. In August, it agreed to buy Mackow Industries.

Genstar's Infinite Electronics buys KP Performance Antennas

Infinite Electronics, a portfolio company of U.S. private equity firm Genstar Capital, has acquired KP Performance Antennas, an Edmonton-based manufacturer of broadband antennas and accessories. No financial terms were released. Infinite, an Irvine, California supplier of radio frequency technology products, said the deal will extend the scope of products available to its customers. Infinite, formerly known as Infinite RF Holdings Inc, was acquired by Genstar in May 2016.

CPPIB, OTPP close $1.35 bln investment in Mexican toll road

Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan have closed their joint investment in an affiliate of Impulsora del Desarrollo y el Empleo en América Latina (Ideal), which owns one of Mexico’s largest toll road concessions. The deal, announced in June, saw CPPIB and Ontario Teachers' pay $1.35 billion for a 49 percent stake in the Autopista Arco Norte. Ideal will hold a 50.5 percent interest in the asset. The deal represents CPPIB's and Ontario Teachers' first joint investment in the Mexican market.

Mission Ready inks $10 mln equity facility with Alumina Partners

Mission Ready Services Inc (TSX-V: MRS) has agreed to access a draw-down equity facility of up to $10 million from Alumina Partners, a U.S. private equity firm. Vancouver-based Mission Ready provides cleaning, logistics, maintenance, program management, consulting and client representation solutions for defense, security and protective services agencies. Rod Reum, the company's president and CEO, said the funding deal comes as Mission Ready prepares to roll out a portfolio of protective products and undertake a range of growth initiatives over the next 24 months.