Private Equity
The Caisse de dépôt et placement du Québec (CDPQ), Capital croissance PME (CCPME) and BDC Capital have invested $15 million in DERYtelecom, a Saguenay, Québec-based provider of digital and HD television, high-speed Internet access, and residential phone services to local communities. The subordinated debt funding will support a transfer of the company's ownership to a new management team. It will also support several of DERYtelecom's growth projects. CCPME is a private equity fund jointly capitalized by CDPQ and Capital régional et coopératif Desjardins.
4 min read · 11 April 2016
Imperial Parking Corp (Impark), a portfolio company of Ontario Teachers’ Pension Plan, has acquired Republic Parking System, a parking management company based in Chattanooga, Tennessee, as well as the affiliated Republic Parking Northwest, which is based in Seattle, Washington. No financial terms were released. Vancouver-based Impark said the acquisition significantly expands its footprint in the United States. The number of North American parking locations operated by the company now totals about 3,400. Impark was acquired by Ontario Teachers in 2011.
2 min read · 11 April 2016
Companies that provide outsourced services to hospitals, clinics and physician networks represent one of the hottest segments in heathcare — and a new crop of sponsors is trying to cash in, according to the latest edition of Connections in the Middle Market, produced by Buyouts Insider and global law firm Duane Morris.
1 min read · 11 April 2016
Canada’s newest private equity firm, Parallel49 Equity, was launched four months ago in a rebranding process initiated by its predecessor, Tricor Pacific Capital. Its story may be a case study of how founding partners can successfully pass the torch to a next generation of PE executives.
3 min read · 08 April 2016
Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest US$300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities, Reuters reported. Fairfax India will have a 30 percent equity ownership in Sanmar following the investment. The deal would be the latest in a string of Fairfax investments in the country this year.
1 min read · 08 April 2016
The Caisse de dépôt et placement du Québec plans to invest $18 million in a new multimedia infrastructure projects unit of Moment Factory, a Montréal-based entertainment studio. The new unit will be responsible for setting up permanent creative projects in public spaces, such as airports, shopping centres, casinos, stadiums and arenas. Founded in 2001, Moment Factory has created over 350 shows and destinations worldwide for such clients as Cirque du Soleil, Madonna and Disney. It has offices in Los Angeles, London and Paris.
2 min read · 07 April 2016
Aralez Pharmaceuticals Inc (TSX: ARZ), launched in February with a investment led by Deerfield Management, opened the market on April 5th. Aralez, an Ontario domiciled pharmaceutical business focused on developing products for cardiovascular, pain and other specialty areas, emerged from a merger of POZEN Inc and Tribute Pharmaceuticals Canada Inc. The Deerfield-led consortium committed up to US$350 million to the new company.
1 min read · 07 April 2016
Avison Young Inc has acquired Linnell Taylor Lipman and Associates Ltd, a Calgary-based property appraisal company. No financial terms were disclosed. Toronto-based Avison, a commercial real estate services provider, said the deal will expand its valuation and advisory service business-line coverage in Canada. Avison, which recently bought GPE Companies, is a portfolio investment of Parallel49 Equity, a Canadian private equity firm. It was originally backed by the firm's predecessor, Tricor Pacific Capital.
8 min read · 07 April 2016
GuestLogix Inc (TSX: GXI), which earlier this year obtained creditor protection, has agreed to sell its interest in OpenJaw Technologies Inc to China's TravelSky Technology Ltd. No financial terms were disclosed for the sale, which is expected to close on or before May 6th. Toronto-based GuestLogix is a provider of merchandising, payment, and business intelligence technology to the passenger travel industry. Last year, it closed a credit deal with Vistara Capital Partners and Beedie Capital Partners.
5 min read · 07 April 2016
Huron Capital Partners has hired Douglas Sutton and Charles Sheridan, formerly senior investment managers in the U.S. private equity group of the Bank of Montreal (BMO). Huron, a Detroit-based private equity firm, said Sutton and Sheridan will lead a new "flex" equity strategy aimed at less-than-majority investments in lower mid-market companies. The strategy is similar to the one pursued by Sutton and Sheridan at BMO. Sutton joins Huron as a partner, while Sheridan joins as a principal.
4 min read · 07 April 2016
