Private Equity
N. Harris Computer Corp, an affiliate of Constellation Software Inc (TSX: CSU) has acquired all of the shares of I.M.D. Soft Ltd (iMDsoft) a U.S. clinical information systems software provider. No financial terms were disclosed. Harris said the acquisition adds to its international customer base and provides a proven sales distribution network. Needham, Massachusetts-based iMDsoft was acquired by U.S. private equity firm TPG in mid-2012. Toronto's Constellation is an acquirer, manager and builder of vertical market software companies.
2 min read · 28 November 2016
Bermuda-based retirement services company Athene Holding Ltd has launched an initial public offering of its Class A common shares on the New York Stock Exchange. The shares are expected to be priced at between US$38 and US$42 apiece. At the upper end of its pricing range, the offering would raise US$997.5 million and value the company at about US$7.8 billion, Bloomberg reported. Athene, one of the largest fixed annuity companies in the United States, is backed by Apollo Global Management and Ontario Teachers' Pension Plan, among other investors.
4 min read · 28 November 2016
U.S. logistics services company Transplace Inc has bought Lakeside Logistics Inc, an Oakville, Ontario provider of customized managed transportation services and solutions. No financial terms were disclosed for the acquisition, which will see Lakeside become part of its acquirer's transportation management business. Transplace, which is based in Frisco, Texas, said the deal expands its geographic footprint in Canada. Transplace is owned by Greenbriar Equity Group, a U.S. private equity firm. Greenbriar bought the company from CI Capital Partners in May 2013.
3 min read · 28 November 2016
Canadian private equity firm Newlook Capital has acquired all of the assets and operations of MultiGas Detection and Instrumentation Services Ltd, a Leduc, Alberta-based provider of gas detection equipment, gas detection calibration and technical design services. No financial terms were released. Newlook made the investment via its Newlook Capital Industrial Services LP, which earlier this month secured a commitment from Portland Investment Counsel Inc. Toronto’s Newlook said the MultiGas deal is strategic and will help it expand its industrial services portfolio.
2 min read · 28 November 2016
Canadian copper producer Excelsior Mining Corp (TSX-V: MIN) has closed a funding deal with U.K. mining and metals private equity firm Greenstone Resources. The deal, which consists of a private placement of common shares and royalty financing, provided the company with gross proceeds of US$14 million. As a result of the private placement, Greenstone now holds about 50.4 percent of Excelsior’s issued and outstanding shares. Vancouver-based Excelsior said the transaction's net proceeds will be used for continued development of its Gunnison Copper Project in Arizona and other priorities.
4 min read · 25 November 2016
David Baazov, the former chief executive of online gaming company Amaya Inc, disclosed new details of funding for his proposed offer to buy the Canadian firm, saying two Hong Kong-based investors had committed $3.45 billion, Reuters reported. Baazov needed to refinance the deal after one of his previously announced investors, Dubai-based KBC Aldini Capital, denied it had ever agreed to be a backer. Last week, Baazov, who owns about 17 percent of Amaya, offered $24 per share to buy the rest of the company, the second time he has tried to take it private.
1 min read · 25 November 2016
Toronto mining company Harte Gold Corp (TSX: HRT) has raised $25 million in a deal flow-through share offering and private placement. The latter, which accounted for $10 million, was provided by Appian Natural Resources Fund, a metals and mining private equity fund managed by U.K.-based Appian Capital Advisory. With the deal, Appian will be entitled to own up to 19.9 percent of Harte's outstanding common shares and nominate up to two board members. The funds raised will be used to accelerate exploration and development of the company's Sugar Zone property located in White River, Ontario.
6 min read · 24 November 2016
Amaya Inc's former chief executive David Baazov said he still plans to buy the online gambling company despite one of his apparent backers saying it had no involvement in the $3.65 billion bid, Reuters reported. The status of Baazov's offer had been in doubt after the Globe and Mail newspaper published an interview with Kalini Lal, the head of Dubai-based investment firm KBC Aldini Capital, one of four international investors named by Baazov as his backers, in which Lal said his firm had not agreed to provide funds.
2 min read · 23 November 2016
Canadian private markets investor Northleaf Capital Partners has bought a 36.75 percent equity interest in the second phase of Nevada's Don A. Campbell geothermal power plant for US$44.2 million. The plant's 20.5 megawatt second phase began operation last year and sells electricity to Southern California Public Power Authority. The buy represents a follow-on equity deal involving Northleaf and its partner, Ormat Technologies Inc (NYSE: ORA). Last year, Northleaf invested US$162.3 million to acquire stakes in several Ormat plants, including Don A. Campbell, as well as other assets.
4 min read · 23 November 2016
U.S. sports products company True Temper Sports Inc has acquired VH Footwear Inc, a Winnipeg manufacturer of custom hockey skates that is led by Founder and CEO Scott Van Horne. No financial terms were disclosed. True Temper said the acquisition is strategic and will provide a growth platform for its TRUE hockey business. As part of the deal, True Temper said it will continue to produce VH skates in Canada. Headquartered in Memphis, Tennessee, True Temper, a maker of hockey, golf and lacrosse products, was acquired by U.S. private equity firm Lincolnshire Management in 2012.
4 min read · 23 November 2016
