Private Equity
Canada's Brookfield Asset Management and Chile's Colbun will bid for the controlling stake in Colombian power generator Isagen at an auction on January 13, Reuters reported, citing a statement by the Colombian Finance Ministry. Consortiums controlled by the two firms confirmed their continued interest in the 57.6 percent stake in Isagen, the ministry said. The stake is valued at around US$1.94 billion.
1 min read · 05 January 2016
Compuware Corp, a portfolio investment of U.S. private equity firm Thoma Bravo, has acquired the assets of ISPW Benchmark Technologies Ltd, a Calgary-based software and services company. No financial terms were released. Founded in 1986, ISPW provides end-to-end code management and release automation across all platforms, enabling information technology to fulfill business requirements, optimize code quality, and improve developer productivity. Compuware, a Detroit-based software company, said the buy supports its mainframe strategy. In late 2014, Compuware was taken private by Thoma Bravo in a deal valued at about US$2.4 billion.
5 min read · 05 January 2016
Noront Resources Ltd (TSX-V: NOT) has amended an agreement with its largest investor, U.S. private equity firm Resource Capital Funds (RCF), that extends a US$15 million convertible debenture. Additionally, the company has agreed to sell RCF a royalty equal to one percent of the net smelter returns from the sale of all metals and minerals derived from its Eagle’s Nest deposit for US$2.5 million. The sale's proceeds will be used in part to satisfy the repayment of a bridge loan with RCF. Toronto-based Noront acquires, explores and develops mineral properties with a focus on the Ring of Fire in Northwestern Ontario.
4 min read · 05 January 2016
Cott Corp (NYSE: COT) (TSX: BCB) has closed its previously announced acquisition of Aquaterra Corp, a Canadian direct-to-consumer home and office water delivery business, for about $62 million (US$45 million). Cott said the deal will extend its Canadian beverage portfolio into new and growing markets, and give it more than 70,000 new customers. Founded in 1882 as Laurentian Water Co, Mississauga, Ontario-based Aquaterra has been a portfolio investment of Canadian private equity firm Birch Hill Equity Partners since 2006.
4 min read · 05 January 2016
Canadian private equity firm Onex Corp has promoted Todd Clegg to managing director. Clegg, who joined the firm in September 2005 from JPMorgan, has worked on several portfolio investments, including York Risk Services Group Inc, a U.S.-based provider of risk management, claims management and managed care services acquired from ABRY Partners in late 2014. From Onex's office in New York, Clegg will in his new role be responsible for leading the firm's origination efforts in the financial services industry.
2 min read · 05 January 2016
Canada Pension Plan Investment Board said it has agreed to buy a student housing portfolio in the United States for around US$1.4 billion, in partnership with Singapore wealth fund GIC and The Scion Group, Reuters reported. The three parties said they had formed a student housing joint venture, Scion Student Communities, which will acquire University House Communities Group.
2 min read · 05 January 2016
Canadian gold mining company Banro Corp (NYSE, TSX: BAA) has raised US$98.75 million in an equity private placement, a term loan facility, and a gold streaming deal. The investors are ResourceFinanceWorks (RFW), a Chinese mining fund, and Gramercy Funds Management LLC, a U.S. emerging markets investment firm. Toronto-based Banro is currently on focused on its Twangiza and Namoya mines, which are located in the Democratic Republic of Congo.
7 min read · 04 January 2016
TriWest Capital Partners has acquired ATCO Emissions Management from its parent company ATCO. No financial terms were disclosed for the transaction that is expected to be completed on December 31, 2015.
1 min read · 30 December 2015
IHS Automotive announced this week that it has acquired CARPROOF Corporation, a London, Ontario-based provider of comprehensive used vehicle history reports, for approximately $650 million. A portfolio company of U.S. private equity firm Hellman & Friedman, PE Hub Canada reported on CARPROOF's acquisition of Canadian Red Book in July 2014
3 min read · 29 December 2015
Mexico's ICA has sold its stake in an environmental waste firm for around 1.2 billion pesos (US$69.69 million), sources told Reuters, as the embattled construction company scrambles for cash after declaring it would default. ICA is also in talks with Canada's second largest pension fund, Caisse de dépôt et placement du Québec, over possible asset sales, a source said. Earlier this year, the Caisse said it would pay 3 billion pesos for a 49 percent stake in Mexican infrastructure joint ventures with ICA.
2 min read · 24 December 2015
