Private Equity
U.S. specialty pet retailer PetSmart Inc has acquired AllPaws, a New York-based online and mobile platform focused on pet adoption. No financial terms were released. PetSmart said the acquisition will accelerate its in-store adoption program. Based in Phoenix, Arizona, PetSmart was acquired early last year by a consortium led by U.K. private equity firm BC Partners. The Caisse de dépôt et placement du Québec, a Canadian pension fund, was among the investors.
4 min read · 19 October 2016
Canada's No. 2 pension fund, Caisse de depot et placement du Quebec (CDPQ), has acquired a minority stake worth US$155 million in India's TVS Logistics Services Ltd, Reuters reported. The Canadian pension fund will buy most of the stake currently held jointly by Goldman Sachs and Kohlberg Kravis Roberts & Co, while parent TVS Group's management will acquire the rest. Earlier this month, CDPQ partnered with Indian financial services firm Edelweiss Group and said it planned to invest up to US$700 million over the next four years in stressed assets and private debt opportunities in India.
1 min read · 19 October 2016
Specified Air Solutions, a portfolio company of U.S. private equity firm the Sterling Group, has acquired Dectron Inc, a Montréal-based provider of dehumidification, air quality and energy recovery solutions primarily for indoor pools. No financial terms were released. The deal was first announced in August. Axxel Inc was the M&A adviser to Dectron. Specified Air, a manufacturer of heating, ventilation and air conditioning equipment, is based in Buffalo, New York. Formerly Roberts-Gordon LLC, the company was acquired by Sterling Group in July 2014.
2 min read · 18 October 2016
The Canadian affiliate of Drive DeVilbiss Healthcare has acquired the mobility and bathroom safety brand business of AMG Medical, a Montréal maker of home healthcare and medical professional products. No financial terms were disclosed. The brands, Hugo, Profilio, AquaSense and Airgo, are distributed to wholesalers, pharmacies and home care dealers across Canada. Drive DeVilbiss, a U.S. manufacturer of medical products, said the deal will enhance its portfolio and market position in Canada. In August, Drive DeVilbiss agreed to receive an undisclosed investment from U.S. private equity firm Clayton, Dubilier & Rice.
3 min read · 18 October 2016
Britain's SVG Capital agreed to sell its investment portfolio to HarbourVest for about US$991 million after the private equity firm elbowed out a Goldman Sachs Group-led consortium with a sweetened offer, Reuters reported. The firm had previously accepted an offer of about US$950 million from Goldman Sachs and the Canada Pension Plan Investment Board for the portfolio.
2 min read · 18 October 2016
Ontario Teachers' Pension Plan (OTPP) has appointed Nicole Musicco as senior vice-president, public equities, effective as of January 1, 2017. Musicco is currently regional managing director, Asia Pacific, overseeing OTPP's investment activity in the region. She joined the Canadian pension fund in 2002 and served as vice-president in its private equity group, Teachers' Private Capital. Musicco played a key role in establishing OTPP's Hong Kong office in 2013.
2 min read · 18 October 2016
Dick's Sporting Goods Inc is preparing a bid for the U.S. business of bankrupt Golfsmith International Holdings Inc, challenging an offer by rival retailer Worldwide Golf Shops, sources told Reuters. The auction will the test the value of Golfsmith, which suffered because of competition from discount retailers, as well as golf's waning popularity among younger customers. Golfsmith, owned by OMERS Private Equity, filed for bankruptcy in the United States and Canada last month.
2 min read · 18 October 2016
William Hill Plc and Canadian online gambling company Amaya Inc have abandoned merger talks, leaving the British bookmaker struggling to find a partner in a fast-consolidating industry, Reuters reported. Amaya, operator of the PokerStars website, and William Hill, one of the best known British gambling brands, said earlier this month that they were in talks about a merger of equals, but the deal was thrown into doubt days later when a leading investor in William Hill, Parvus Asset Management, said it would oppose the plan.
3 min read · 18 October 2016
Transcontinental Inc (TSX: TCL.A, TCL.B) has acquired all of the shares of Flexstar Packaging Inc, a Vancouver-based flexible packaging supplier. No financial terms were released. Flexstar is a maker of custom-printed, laminated, flexible roll-stock and specialty films for the consumer and industrial markets. Montréal-based Transcontinental, a publishing, media and marketing business, said the acquisition extends its footprint to Canada's West Coast and introduces new manufacturing capabilities. Flexstar was sold by Canadian private equity firm Stern Partners, which led the company's acquisition in 2005.
3 min read · 17 October 2016
Canadian private equity firm Altas Partners has hired Damon Conway as a principal, a spokesperson for the firm told PE Hub. Prior to joining Altas, Conway was a vice president at Mill Road Capital, a U.S. private equity firm. He also previously worked at Onex Corp and CIBC World Markets. Toronto-based Altas, founded in 2012 by former Onex Managing Director Andrew Sheiner, raised US$1 billion for Altas Partners Holdings LP in May.
1 min read · 17 October 2016
