Canada

Northleaf Capital to take 33 pct stake in Colorado's Northwest Parkway

Northleaf Capital Partners has agreed to acquire a 33 percent stake in Northwest Parkway, a toll-road located in the Denver, Colorado area. No financial terms were disclosed. Northleaf is investing as part of a consortium that includes DIF Infrastructure IV and HICL Infrastructure Co Ltd, which has conditionally acquired a 100 percent equity interest in Northwest Parkway from Brisa, a Portuguese toll-road operator. The deal is expected to close in the first half of 2016. Toronto-based Northleaf is a private equity, infrastructure and private credit manager with $9 billion under management.

ABRY Partners' Securus buys PHD Medical's telemedicine assets

Securus Technologies Inc has acquired the corrections telemedicine hardware, software, management and development assets of Baie d’Urfe, Québec's PHD Medical Inc. The terms of the all-cash deal were not released. Securus, a Dallas provider of civil and criminal justice technology solutions, said the acquisition is its 20th to date. The company plans to bundle PHD Medical's telemedicine business into its existing product set. Securus is a portfolio investment of U.S. private equity firm ABRY Partners. ABRY acquired it from Castle Harlan in April 2013.

PE-backed Premium Brands buys Island City Baking, Conte Foods

Premium Brands Holdings Corp (TSX: PBH) has acquired Island City Baking, a maker of fresh and frozen artisan breads, and its affiliate Conte Foods, a distributor of specialty food products. The companies, both of which are located in the Greater Vancouver region, sold for $20.3 million. Premium Brands also announced its buy of Larosa Fine Foods, a Vancouver maker and wholesaler of specialty Italian products, for $700,000. Premium Brands, a Vancouver-based specialty branded food producer, has been a portfolio investment of Canadian private equity firm Pender West Capital Partners since 2005.

Ontario Teachers' Jo Taylor promoted to new senior global post

Ontario Teachers' Pension Plan has promoted Jo Taylor to the new role of senior managing director, international, effective January 1st of next year. Taylor, who will be responsible to Bjarne Graven Larsen, hired as Ontario Teachers' CIO in January, will oversee the pension fund's global operations presence in London and Hong Kong. Taylor joined Ontario Teachers' in 2012 and is currently regional managing director for Europe, Middle East and Africa. He previously served as a senior investment executive at several private equity firms, including 3i Group.

Geneba Properties to explore strategic options with Catalyst Capital

Geneba Properties NV has engaged Credit Suisse as its exclusive financial advisor as the Dutch commercial real estate investment company begins a process of exploring strategic alternatives. Geneba said the alternatives could include an initial public offering, capital increase, merger, sale or other possible deals. All options will be considered in collaboration with its largest shareholder, Canadian private equity firm Catalyst Capital Group. Geneba was recapitalized two years ago and has since been investing in corporate logistics and light industrial real estate, the company said.

PSG gets court OK for "stalking horse" bid, $386 mln in DIP funding

Bauer hockey gear maker Performance Sports Group Ltd (NYSE, TSX: PSG), has received approval from courts in Canada and United States for the company's "stalking horse" purchase agreement with Power Corp's Sagard Capital Partners LP and Fairfax Financial Holdings Ltd. Announced last month, the deal would see Sagard and Fairfax acquire most of PSG's assets and North American subsidiaries for US$575 million. The courts also approved PSG's access to US$386 million in new debtor-in-possession (DIP) financing. A final sale to Sagard-Fairfax or other potential bidders is expected to occur by the end of February 2017.

Coliseum Capital in talks over potential Performance Sports deal: Reuters

U.S. hedge fund Coliseum Capital Management LLC, the third-largest shareholder of Performance Sports Group Ltd, said it was in talks with a third party related to a potential deal involving the maker of Bauer ice hockey gear, Reuters reported. Performance Sports, which filed for bankruptcy protection in October, has received a "stalking horse" bid from its largest shareholder Sagard Capital Partners LP, an affiliate of Canada’s Power Corp, and Fairfax Financial Holdings Ltd. Coliseum Capital said it had received consent from Performance Sports' financial adviser to begin discussions with an affiliate of one of the buyers of the sports gear maker, according to a regulatory filing on Tuesday.

AIMCo opposes Total Energy Services' bid to buy Savanna

Savanna Energy Services Corp (TSX: SVY) announced that its investor, Alberta Investment Management Corp (AIMCo), opposes the company's takeover by Total Energy Services Inc (TSX: TOT). Total announced its intention to acquire the shares of the Calgary contract drilling and oilfield services business last week. AIMCo advised that a change in Savanna's control would result in a change in the terms of its recent financing agreement. This includes a $200 million loan facility, which would become immediately due and payable upon closing should Total acquire Savanna.

Sprott Resource to merge with Adriana Resources, raise $15 mln

Canadian private equity firm Sprott Resource Corp (SRC) has agreed to combine with Toronto's Adriana Resources Inc (TSX-V: ADI), owner of a 40 percent stake in Québec's Lac Otelnuk iron ore project. The proposed deal, which will create a new entity called Sprott Resource Holdings Inc (SRH), will see holders of SRC shares receive 3.0 ADI shares per SRC share. As part of the deal, SRC's partner Sprott Inc, a Sprott affiliate and Term Oil Inc have agreed to invest $15 million in SRH through the purchase of ADI shares and warrants. Steve Yuzpe, SRC's CEO, said the merger will create "an integrated company with approximately $150 million in investable capital.”

Time Inc rejects bid from billionaire Edgar Bronfman Jr: Reuters

Time Inc, the publisher of Time, People and Fortune magazines, has rejected a takeover bid from Canadian billionaire investor Edgar Bronfman Jr, Reuters reported, citing a report from the New York Post . Bronfman offered US$18 per share, valuing the publisher at US$1.78 billion. Bronfman, who is a managing partner of New York private equity firm Accretive LLC, made the bid along with Russian-born billionaire Leonard Blavatnik, the founder of holding company Access Industries, and Israeli businessman Ynon Kreiz.