Canada

Onex wraps up $1.37 bln acquisition of grocery retailer Save-A-Lot

Canadian private equity firm Onex Corp has completed its acquisition of Save-A-Lot, one of the largest discount grocery retailers in the United States, from SuperValu Inc. The deal, announced in October, reflected a purchase price of US$1.365 billion in cash, subject to closing adjustments. Onex Partners IV made an equity investment of about US$660 million in the acquisition. Reuters reported earlier this year that Onex was in the lead among private equity firms bidding for the Save-A-Lot business.

OMERS' private equity arm makes first European sale: Reuters

Ontario's municipal workers' pension fund has sold a majority stake in global marine services company V.Group to buyout firm Advent International in the first sale by the Canadian fund's private equity arm in Europe, Reuters reported. As part of the shift to more direct investment, the Ontario Municipal Employees Retirement System (OMERS) set up a private equity team and now has about $10 billion invested. It started a London operation in 2009 and two years later it bought V.Group, which manages more than 1,000 vessels and employs more than 3,000 people, from Exponent Private Equity for an enterprise value of US$520 million.

DWHP, Linden acquire aesthetic products maker Edge Systems

Healthcare private equity firms DW Healthcare Partners (DWHP) and Linden Capital Partners have jointly acquired Edge Systems LLC, a U.S. maker of non-invasive equipment and consumables used in aesthetic skin health treatments. No financial terms were released. Founded in 1997, Signal Hill, California's Edge has an installed base of over 7,000 systems placed with dermatologists, plastic surgeons, and medical spas across 75 countries. With the deal, Clint Carnell and Steve Fanning will be named CEO and chairman of Edge, respectively. DWHP has offices in Toronto and Park City, Utah.

Ontario Teachers’ takes control of Australian data centre provider

Ontario Teachers' Pension Plan has closed its acquisition of an additional 29 percent stake in Metronode, an Australian data centre provider, from CIMIC Group Ltd. No financial terms were disclosed. Ontario Teachers' acquired a 70 percent interest in Metronode as part of its June 2013 investment in its parent company, Nextgen Group Pty Ltd. In August, CIMIC agreed to sell its interest in Nextgen to the Canadian pension fund. CIMIC said it expects to receive net proceeds of about US$190 million to US$210 million from the exit.

Serruya Private Equity puts $8 mln loan to work in Second Cup

The Second Cup Ltd (TSX: SCU) has obtained an $8 million secured term loan from SPE Finance LLC, an affiliate of Serruya Private Equity (SPE), which invests on behalf of Canada's Serruya family. As a result of the deal, Second Cup agreed to nominate an SPE representative to its board of directors. The loan's proceeds will be used to repay the company's $6 million credit facility and for other purposes. Toronto-based Second Cup is a specialty coffee retailer operating over 295 franchised and directly-owned cafes. SPE Managing Director Michael Serruya said his firm will help build the "iconic Canadian brand."

OMERS Private Equity to sell V.Group to Advent International

OMERS Private Equity (OPE) has agreed to sell V.Group, a provider of maritime services to the commercial shipping, cruise, energy and defence industries, to U.S. private equity firm Advent International. No financial terms were disclosed for the deal, which will see OPE re-invest in a minority stake in the company. OPE acquired London, U.K.-based V.Group for US$520 million in 2011. During its period of majority ownership, OPE said it supported the company's organic growth and growth via acquisitions, including Bibby Ship Management and Selandia Ship Management. Mark Redman, global head of OPE, said the sale is OPE's first realization in Europe and fourth exit this year.

AWAS put on block, pitched to Chinese, other lessors: Reuters

Dublin-based AWAS has been put up for sale by its private equity owners in an auction that could value the aircraft lessor at US$7 billion, including debt, and draw bids from Chinese lessors and other Asian investors, sources told Reuters. Terra Firma and Canada Pension Plan Investment Board acquired AWAS in 2006 for about US$2.5 billion. Potential buyers include the aviation leasing company backed by Hong Kong billionaire Li Ka-shing, the aircraft leasing arm of China's Ping An Insurance Group, and other Asian lessors. Pension funds may also show interest.

DP World, Caisse de dépôt to invest $5 bln in global ports and terminals

Dubai's DP World and Caisse de dépôt et placement du Québec (CDPQ) have launched a new platform to invest in global port and terminal businesses. The platform has been capitalized at $5 billion, with DP World holding a 55 percent share and CDPQ the remaining 45 percent. Investments, to be made in countries outside of the United Arab Emirates, will be focused on existing assets, with up to 25 percent earmarked for greenfield project opportunities. The platform has been seeded with two of DP World's Canadian container terminals, located in Vancouver and Prince Rupert. CDPQ acquired a 45 percent stake in these assets for $865 million.

Private consortium to acquire IWG Technologies for $16.5 mln

IWG Technologies Inc (TSX-V: IWG), the holding company for Canada's International Water-Guard Industries Inc, has agreed to be acquired for about $16.5 million. The buyer is a private Canadian affiliate of WM Capital Management and BASE Equity Partners, a U.S. private equity firm. IWG shareholders are expected to vote on the proposed deal in January 2017. Burnaby, British Columbia-based International Water-Guard is a provider of aircraft potable water treatment, water systems, water heaters and components.

Crown Capital Partners invests $15 mln in Source Energy Services

Canadian specialty finance firm Crown Capital Partners has invested $15 million in Source Energy Services, a Calgary-based provider of frac sand and logistical services to oil and gas producers active in the Western Canadian Sedimentary Basin. Crown's investment forms part of the company's $130 million offering of senior secured first lien notes. Source, which has operations in British Columbia, Alberta, Saskatchewan, Wisconsin and Texas, supplies about 50 percent of Western Canada's proppant market. Last month, Crown provided $15 million in debt funding to Touchstone Exploration Inc.