Private Equity
Canada's second-biggest dairy, Agropur Cooperative, said it is looking to grow in the United States, possibly through acquisitions, in the face of an expected erosion of its market share at home due to recent international trade deals. Argopur raised $300 million from the Caisse de dépôt et placement du Québec and other investors in December.
3 min read · 10 February 2016
Seven Generations Energy Ltd (TSX: VII) has proposed a bought deal private placement financing that is targeted to raise $300 million in gross proceeds. In an earlier statement, the company said it will use the proceeds chiefly for investment in natural gas production at its Kakwa River Project in Alberta. Based in Calgary, Seven Generations went public in November 2014, raising $931.5 million. It has since remained a portfolio investment of Canadian private equity firms ARC Financial Corp and Azimuth Capital Management, as well as Canada Pension Plan Investment Board.
5 min read · 10 February 2016
Capital croissance PME has invested $1.5 million in the shareholder buyout of IGA Marché Leblanc, a Mont-Laurier, Québec-based grocery operating under the IGA supermarket brand. With the deal, Martine Vaillancourt and Michel Therrien became the new owners. Michel Therrien also acquired the building that houses the store. Capital croissance PME II is a private equity fund jointly sponsored by Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec.
2 min read · 10 February 2016
Osisko Gold Royalties Ltd (TSX: OR) has agreed to receive $50 million in convertible debenture financing from Ressources Québec, an affiliate of Investissement Québec. Based in Montréal, Osisko is an intermediate mining royalty and exploration company focused on its Canadian Malartic and Éléonore gold mines, both of which are located in Québec. Last year, the company acquired Virginia Mines Inc with the backing of existing investors the Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ.
4 min read · 10 February 2016
The Canada Pension Plan Investment Board, one of the world's biggest pension funds, reported gross investment returns of 4.6 percent in the third quarter, driven by a strong performance from its global equities portfolio, Reuters reported. CPPIB said it ended the period on December 31 with total net assets of $282.6 billion.
1 min read · 10 February 2016
Long Run Exploration Ltd (TSX: LRE), a Canadian intermediate oil and natural gas company, has identified the Chinese buyer in its previously announced acquisition deal as Sinoenergy Investment Corp. Long Run made the announcement while preparing for its meeting of shareholders and debentureholders on February 29, which will vote on the $770 million deal. Calgary-based Long Run has been backed by Canadian private equity firm Sprott Resource Corp since 2009.
5 min read · 10 February 2016
Fairfax India Holdings Corp, a platform established in 2014 to make private equity and other investments in India, has acquired about 45 percent of ADI Finechem Ltd. The total consideration was about US$19 million. Based in Ahmedabad, India, ADI Finechem is a speciality oleochemical manufacturing company. The controlling shareholder of Fairfax India Holdings is Fairfax Financial Holdings Ltd, a Toronto-based financial services holding company.
1 min read · 09 February 2016
Material Sciences Corp, a portfolio company of U.S. private equity firm Insight Equity, recently acquired Continuous Colour Coat Ltd, a.k.a. Metal Koting. Based in Rexdale, Ontario, Metal Koting provides galvanized, painted, and printed steel and aluminum coils to a variety of companies in the construction, automotive, leisure product, and packaging industries. Detroit-based Material Sciences, a specialty coater and laminator of steel and aluminum products, said the deal complements its capabilities and broadens its geographic reach. Insight Equity's portfolio investments in Canada include A.P. Plasman Inc.
2 min read · 09 February 2016
Maibec Inc has acquired Cedar Balmoral Ltd, a manufacturer of Eastern white cedar shingles located in Balmoral, New Brunswick. No financial terms were disclosed. Maibec, a Lévis, Québec-based wood processing company, said the purchase will allow it to keep pace with increased demand for cedar shingles among homeowners and builders, and to develop new markets. A family business founded in 1946, Maibec is a portfolio investment of the Fonds de solidarité FTQ, a Canadian private equity and venture capital firm.
2 min read · 09 February 2016
VersaCold Logistic Services has bought the assets of Gary Heer Transport Ltd, a refrigerated provider of truckload cross-border transportation services between Western Canada and the United States. No financial terms were released. VersaCold, a Vancouver-based supply chain solutions company that handles temperature sensitive products, said the deal marks its entrance into the U.S. cross-border transportation market. It plans to launch a new subsidiary, VersaCold North America Transportation Solutions Ltd, this quarter. VersaCold is backed by real estate private equity firm KingSett Capital and Ivanhoé Cambridge, an affiliate of the Caisse de dépôt et placement du Québec.
2 min read · 09 February 2016
