Private Equity
The Ontario government has extended its commitment to nuclear energy in a supply deal with Bruce Power under which the nuclear generator will spend $13 billion to refurbish six reactors, Reuters reported. Bruce Power's majority owners, the Ontario Municipal Employees Retirement System Fund and TransCanada Corp will also invest in the refurbishment projects.
2 min read · 03 December 2015
OMERS Private Markets, a division of the Ontario Municipal Employees Retirement System, has agreed to invest in the refurbishment of six Bruce Power reactor units over the next 20 years. The nuclear facility's other backers, which include TransCanada Corp, the Society of Energy Professionals and the Power Workers Union, will also invest in the projects. No financial terms were disclosed. Based in Tiverton, Ontario, Bruce Power generates about 30 percent of Ontario's electricity supply. OMERS is one of its largest investors.
3 min read · 03 December 2015
Technomedia, a Canadian cloud-based talent management software provider, has been bought by Cegid Group, a French enterprise software company. The acquisition's value was not disclosed. Cegid said the deal forms part of its growth strategy in the human resources sector and lends impetus to its international expansion. Founded in 1996 by CEO Alain Latry, Montréal-based Technomedia has developed a talent management software suite that is used by private and public sector organizations in more than 70 countries. The technology, media and telecom group of Canadian private equity firm Novacap acquired a majority stake in the company in 2009.
10 min read · 03 December 2015
Canadian private equity firm Novacap has purchased the remaining interest in Host.net Inc from a group of shareholders led by Jeffrey Davis, the company's co-founder and CEO. No financial terms were released. Boca Raton, Florida-based Host.net, a managed infrastructure services provider, was acquired by Novacap's technology, media and telecommunications group in early 2013. Davis, the company's head for nearly fifteen years, has retired. He has been replaced on an interim basis by CFO Jason Katz. Last month, Novacap made a new platform investment, acquiring Calgary's Onstream Pipeline Inspection Services Inc.
3 min read · 03 December 2015
Driven Brands Inc, bought earlier this year by U.S. private equity firm Roark Capital, has acquired CARSTAR Automotive Canada Inc, a Hamilton, Ontario-based collision and glass service company with an operational network of more than 230 locations in 10 provinces. No financial terms were released. Driven Brands, which previously bought the U.S. operations of CARSTAR, said the deal strengthens its position in North America's automotive aftermarket franchising industry. Based in Charlotte, North Carolina, Driven Brands was acquired by Roark from U.S. private equity firm Harvest Partners in April.
4 min read · 03 December 2015
Gerald Schwartz, founder, chairman and CEO of Canadian private equity firm Onex Corp, has been chosen to receive the International Horatio Alger Award in 2016. The award recognizes an individual who has persevered through challenges to become a successful entrepreneur and community leader. As a result, Schwartz will become a lifelong member of the Horatio Alger Association of Canada and its American affiliate. Schwartz founded Onex in 1984. Today, it has more than US$22 billion in assets under management, including US$6 billion of Onex capital, in private equity and credit securities.
3 min read · 02 December 2015
Fengate Capital Management, a Canadian infrastructure and real estate investment firm, has purchased two solar parks in the United Kingdom for $110 million. The parks, co-developed by Kinetica Solar and WElink Energy, are the 39 megawatt Raventhorpe site in North Lincolnshire, England and the 7 megawatt Roanhead site in Cumbria, England. Fengate said the deal increases its power generation assets to over 300 megawatts. Earlier this year, Toronto-based Fengate raised a US$180 million infrastructure fund in partnership with KB Asset Management and institutional investors.
2 min read · 02 December 2015
The Hayward Gordon Group has bought Scott Turbon Mixer Inc, an Adelanto, Calif.-based provider of steel mixers and mixing systems for applications in food, pharmaceutical, cosmetic, chemical and other industries. No financial terms were released. Hayward Gordon, a maker of mixers, pumps and engineered systems for fluid handling applications, said the deal gives it "a more complete product offering" that will further its expansion in the United States. The Toronto-based company, which late last year acquired Sharpe Mixers Inc, has been a portfolio investment of U.S. private equity firm Element Partners since September 2013.
3 min read · 02 December 2015
Capital régional et coopératif Desjardins (CRCD) has acquired a minority equity position in Textiles Amalgamated Inc, a specialist in the design and distribution of home fashion products, including window curtains and decorative fabrics. No financial terms were disclosed. Founded in 2001, Montréal-based Textiles Amalgamated sells its products in retail chains across Canada and the United States. CRCD, managed by Canadian private equity firm Desjardins Capital de risque, raised $150 million from retail investors in 2015.
2 min read · 02 December 2015
INC Research Holdings Inc (Nasdaq: INCR), which went public in 2014, announced that Avista Capital Partners and Ontario Teachers’ Pension Plan intend to sell 6 million shares of the company's Class A common stock in a secondary deal. INC Research also agreed to repurchase about 3 million shares in a private transaction. As a result, Avista and Ontario Teachers will own less than 50 percent of total voting power. Raleigh, North Carolina-based INC Research, a clinical research organization that provides services to biopharmaceutical and medical device industries, was acquired by Avista and Ontario Teachers in 2010.
4 min read · 02 December 2015
