Private Equity
HouseMaster LLC, a U.S.-based home and building inspection franchise company, has agreed to acquire HouseMaster Canada, an affiliate of Toronto-based Greensaver Home Energy Services Inc. No financial terms were released. As a result of the transaction, all of the HouseMaster Canada franchisees will become part of HouseMaster, creating a single North American operation that can better meet franchise owner needs. Based in Ewing, New Jersey, HouseMaster has been a portfolio investment of U.S. private equity firm Sopra Capital since 2008.
2 min read · 15 October 2015
WSP Global Inc (TSX: WSP) has completed its previously-announced purchase of MMM Group Ltd, a Canadian engineering consulting business. The deal, valued at about $425 million, was financed in part by WSP's existing shareholders, the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. CPPIB and the Caisse invested a combined $144 million in deal. It was previously reported that the acquisition is intended to strengthen WSP’s presence in Canadian transportation and infrastructure sectors and enhance its expertise in public-private partnerships.
4 min read · 15 October 2015
Antares Capital plans to float about US$1 billion in collateralized loan obligations (CLO) a year starting in the fourth quarter, as it gears up as a unit of the Canada Pension Plan Investment Board (CPPIB). CPPIB’s US$12 billion acquisition of Antares from prior owner GE Capital closed earlier this year.
3 min read · 15 October 2015
CPI Card Group Inc, a portfolio company of Canadian private equity firm Tricor Pacific Capital, has closed its previously-announced initial public offering. The company, which began trading on the Nasdaq Global Select Market and the Toronto Stock Exchange on October 9th under the ticker symbols "PMTS" and "PNT," respectively, raised net proceeds of about US$137.5 million. It did not receive any proceeds from the sale of common stock by selling shareholders. Littleton, Colorado-based CPI is a manufacturer of financial payment cards and other card products and services. Tricor invested in the company in June 2007 and continues to be its majority investor.
3 min read · 15 October 2015
SKY Leasing, a Dublin-based full-service aircraft leasing platform, has been launched with over US$250 million in funding. The investors are U.S. private equity firm ATL Partners and the private equity group of Canada's Public Sector Pension Investment Board (PSP Investments). As part of the deal, SKY Leasing will acquire some of Richard Wiley's assets in Sky Holding Co (SHC). Wiley and key members of SHC's management team will lead the new platform, which plans to operate as capital provider to commercial airlines globally for sale and leaseback transactions.
4 min read · 15 October 2015
Neiman Marcus Group Inc, the U.S. luxury specialty department store chain that registered with regulators in August for an initial public offering, has pushed back its stock market flotation to 2016, sources told Reuters. The Dallas, Texas-based company, which is owned by private equity firm Ares Management LP and the Canada Pension Plan Investment Board, was eyeing an IPO this year but stock market jitters have prompted it to put the plan on hold, the sources said.
2 min read · 14 October 2015
U.S. private equity firm Swander Pace Capital has bought a majority interest in Voortman Cookies Ltd, a manufacturer and marketer of cookies and wafers based in Burlington, Ontario. The acquisition's value was not disclosed. Swander Pace, which specializes in investments in consumer products, said the partnership with Voortman will focus on its continued growth through investment in product innovation, distribution and marketing. As a result of the deal, Voortman CEO Harry Voortman will begin to transition into the roles of shareholder, advisor and board member. The company's new CEO will be Douglas MacFarlane. Swander Pace's other Canadian investments include Recochem Inc.
3 min read · 14 October 2015
Canadian private equity firm Catalyst Capital Group has raised over $2 billion (US$1.5 billion) of committed capital in the close of its fifth distressed-for-control fund. Catalyst Fund LP V exceeded its target of US$1.25 billion, and its hard cap of US$1.5 billion, with the help of pension funds, endowments, foundations and other institutional investors located in North America, Europe and Asia. Toronto-based Catalyst, which was founded in 2002, specializes in control and influence investments in distressed and under-valued Canadian situations. Deploying over 90 percent of its capital in senior secured debt, it has backed such companies as Advantage Rent A Car, Callidus Capital and Mobilicity.
3 min read · 14 October 2015
Knowlton Development Corp (KDC) has bought two Kolmar Labs Group companies: Kolmar Laboratories Inc and Acupac Packaging Inc. No financial terms were released. Based in Port Jervis, New York, Kolmar is a custom formulator and manufacturer of colour cosmetics, personal care and skincare products. Longueuil, Québec-based KDC, a contract maker of health and beauty products, said the acquisition is its first foray into the colour cosmetics segment. Last year, KDC was recapitalized in a $165 million deal led by Novacap and joined by the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Investissement Québec, Export Development Canada and Fondaction CSN.
6 min read · 14 October 2015
Labatt Breweries of Canada LP has bought Mill Street Brewery, a craft brewer headquartered in Toronto. The transaction's value was not disclosed. Established as an organic brewpub in 2002, Mill Street today has a portfolio of 70 unique beers. Labatt said it plans to support the company's continued growth with an investment of $10 million in its Toronto brewery, which includes a state-of-the-art brewhouse and packaging capabilities. Mill Street has been backed by HMW Capital, a Canadian private equity and investment banking firm. HMW's Herb Willer was part of the company's founder group and acted as its chairman.
4 min read · 13 October 2015
