Private Equity
Canadian financial services firm Equitable Group Inc (TSX: EQB) has entered into a private placement deal with the Ontario Municipal Employees Retirement System (OMERS). The deal will see OMERS acquire common shares of the firm that generate total proceeds of up to $50 million. As a result, the pension fund will hold about 4.9 percent of Equitable's issued and outstanding shares. Equitable intends to use the net proceeds to invest in its subsidiary, Equitable Bank, a Toronto-based provider of residential lending, commercial lending and savings solutions across Canada.
3 min read · 13 December 2016
Match Marketing Group (Match MG) has acquired Trisect, a creative agency headquartered in Chicago. No financial terms were disclosed. Match MG, a shopper activation and consumer engagement agency based in Norwalk, Connecticut and Toronto, said the deal further enhances its portfolio of services. Match MG has been a portfolio company of Canadian private equity firm Beringer Capital since 2011. Earlier this year, Beringer acquired Adweek from Mediabistro Holdings LLC.
3 min read · 12 December 2016
Aircraft Technical Publishers (ATP) has acquired CaseBank Technologies Inc, a Toronto-based provider of diagnostic, troubleshooting and fault detection solutions for the aviation, aerospace and defense industries. The deal's financial terms were not disclosed. ATP, which is headquartered in San Francisco, said the acquisition will enhance its information management and service offerings to customers in the aviation industry. ATP was acquired by U.S. private equity firm ParkerGale Capital in November 2015.
2 min read · 12 December 2016
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 50 percent stake in a portfolio of office and retail properties in New Zealand from the Public Sector Pension Investment Board (PSP Investments). The interest is valued at about $545 million, with an equity investment of about $216 million. PSP Investments, which bought the assets in 2014, will continue to hold the remaining 50 percent interest. The properties, located primarily in Auckland and Wellington, are managed by AMP Capital.
2 min read · 12 December 2016
The infrastructure arm of Connor, Clark & Lunn Financial Group Ltd and Régime de rentes du Mouvement Desjardins have acquired a majority interest in South Fraser Perimeter Road (SFPR), a 40-kilometre, four-lane expressway in mainland British Columbia. Terms were not released. The interest was sold by the Canadian affiliate of Spain's ACS, Star America Infrastructure Fund and Ledcor Infrastructure Investments. ACS will retain a minority stake and an ACS-led company will provide operation and maintenance services. The SFPR project was completed in 2013 at a cost of $658 million.
3 min read · 12 December 2016
U.S. private equity firm Altamont Capital Partners has acquired Maxi Canada Inc, a manufacturer of frozen food products based in St-Lin-Laurentides, Québec. No financial terms were disclosed. With deal, Altamont's operating partner and CEO of Tall Tree Foods, Tim Bruer, will assume the role of executive chairman. Established in 1970, Maxi Canada has developed a portfolio of frozen poultry products sold across North America under the Yummy and Dino Buddies brands. The partnership with Altamont is intended to support the company's continued growth in the United States and its development of new products.
2 min read · 12 December 2016
Investel Capital Corp has acquired all of the shares of RuralCom Corp, a Vancouver wireless operator offering services in under-served areas in Canada, from RuralCom Capital Corp. No financial terms were disclosed. Vancouver-based TNW Networks Corp, a telecommunication services provider and Investel affiliate, said RuralCom will now operate under its wireless brand. Investel, which has offices in Vancouver and Toronto, specializes in acquiring telecom companies, including distressed and underachieving companies, and developing new technologies.
3 min read · 09 December 2016
Shares of Athene Holding Ltd (ATH.N) jumped as much as 9.2 percent in their debut on Friday, valuing the fixed annuity service provider at about US$8.25 billion in the year's largest financial IPO, Reuters reported. The offering raised about US$1.08 billion, all for selling shareholders. Bermuda-based Athene's backers include U.S. private equity firm Apollo Global Management, Ontario Teachers’ Pension Plan, and Procific, a unit of the Abu Dhabi Investment Authority.
2 min read · 09 December 2016
Abattis Bioceuticals Corp has agreed to receive a draw-down equity facility of up to $5 million. The investor is Alumina Partners, a U.S. private equity firm. Abattis, which is based in Vancouver, aggregates, integrates and invests in agricultural technology and biotechnology services for the emerging cannabis industry in Canada. It said it will use the proceeds of the facility to focus on growth opportunities and potential acquisitions.
4 min read · 09 December 2016
Investissement Québec (IQ) and Fonds de solidarité FTQ have acquired a 60 percent stake in Plastique Micron, a Sainte-Claire, Québec-based plastic container manufacturer. No financial terms were disclosed for the deal, which will see the balance of the company's interest held by two managing shareholders. Founded in 1971, Plastique Micron makes products designed for the pharmaceutical, cosmetics and food industries, as well as for industrial uses. Bernard Poitras, the company's president, said the partnership with IQ and Fonds de solidarité FTQ will support new investments in additional production lines and acquisitions.
3 min read · 08 December 2016
