Private Equity
Give and Go Prepared Foods Corp, a Canadian maker of thaw-and-serve sweet baked goods such as Two-Bite Brownies, is exploring a sale it hopes could value it at around $550 million, sources told Reuters reported. The company's owner, OMERS Private Equity, has held talks with investment banks in recent weeks to appoint a financial adviser to run an auction or initial public offering, the sources said.
2 min read · 21 September 2015
Canadian mid-market private equity firm TorQuest Partners has agreed to sell Pinova Holdings Inc to Symrise AG, a German supplier of fragrances, flavourings, and cosmetic active ingredients. The deal, expected to close in early 2016, has a total value of US$417 million. Brunswick, Georgia-based Pinova is a manufacturer of specialty chemicals from natural and renewable feedstocks. It was carved out of Ashland Inc by TorQuest for US$75 million in 2010. Pinova subsequently acquired LyondellBasell Flavors & Fragrances, now called Renessenz LLC. That deal more than than doubled the scale of Pinova's business, and broadened its product and end-market reach, TorQuest reported.
3 min read · 21 September 2015
Swedish buyout group EQT has received offers for its Dutch oil storage group Koole Terminals valuing the business at more than 1 billion euros (US$1.1 billion), several people familiar with the deal told Reuters. The Ontario Teachers' Pension Plan and Borealis Infrastructure are said to have joined consortia bidding for Koole.
2 min read · 21 September 2015
Communications & Power Industries LLC (CPI) has bought ASC Signal Corp from Resilience Capital Partners, a U.S. private equity firm. No financial terms were disclosed. Philpott Ball & Werner LLC served as exclusive investment banker to ASC Signal on the transaction. Based in Plano, Texas and Whitby, Ontario, ASC Signal is a provider of advanced satellite communications, radar and high-frequency antennas and controllers. Resilience has owned the business since January 2008.
3 min read · 18 September 2015
Canadian alternative assets manager Kensington Capital Partners has appointed Harold Huber to the position of senior vice-president. Huber previously served at Canadian law firm Torys LLP, where he was a partner and acted as legal counsel for Kensington's infrastructure business. He has been working in the acquisition and development of energy and infrastructure projects in North America for over 30 years. In June, peHUB Canada profiled Tom Kennedy, the chairman and managing director of Toronto-based Kensington.
2 min read · 18 September 2015
Volaris Group, an operating group of Constellation Software Inc, has acquired Netadmin Systems. No financial terms were released. Based in Linköping, Sweden, Netadmin is a provider of operational support system solutions which help communication service providers build and operate their networks and meet service levels. Toronto-based Constellation acquires, manages and builds vertical market software businesses. Publicly listed in 2006, it remains a portfolio investment of OMERS Private Equity.
2 min read · 17 September 2015
Doxim Inc has bought Roler Data Transfer Services Inc, a Mississauga, Ontario-based provider of electronic document composition, processing, delivery and archiving services. The value of the deal was not disclosed. Doxim, a provider of customer engagement software for the financial services industry, said the acquisition adds to its customer base and will ensure better service. Based in Markham, Ontario, the company received a majority investment last year from Strattam Capital, a technology-focused U.S. private equity firm.
3 min read · 17 September 2015
Canadian specialty finance firm Difference Capital Financial (DCF) has sold its majority interest in WG Ltd, which operates as WorldGaming, a Toronto-based online gaming platform that facilitates tournaments, leagues and gaming ladders for the competitive gaming community. The buyer was Cineplex Inc (TSX: CGX), which is investing US$10 million to obtain an 80 percent stake in WorldGaming. Cineplex will invest an additional US$5 million to expand the business, DCF said. DCF, which will retain a small equity stake in the company, expects to receive $6.4 million from the deal.
2 min read · 17 September 2015
European telecoms group Altice will become a major force in the lucrative U.S. cable market after it agreed to buy fourth-largest operator Cablevision shares in a deal worth US$17.7 billion, Reuters reported. Altice, which acquired regional cable group Suddenlink in May, will fund the deal partly with equity from Suddenlink's backers, BC Partners and the Canada Pension Plan Investment Board.
4 min read · 17 September 2015
The Ontario Teachers' Pension Plan has agreed to acquire a 30 percent interest in OGF, a funeral services provider in France, from Pamplona Capital Management. No financial terms were disclosed. Ontario Teachers said it plans to increase the size of its stake in OGF to 40 percent over time. The initial deal is expect to close this month. Founded 170 years ago, OGF operates a network of 1,000 branches, 468 funeral homes, 53 crematoria, and a brands portfolio from its headquarters in Paris. Pamplona, an alternative investments firm based in London, will remain the majority investor in the business.
4 min read · 17 September 2015
