Private Equity
The infrastructure investment program of Canadian private markets investor Northleaf Capital Partners has raised more than $1.5 billion in committed capital. Two funds, Northleaf Infrastructure Capital Partners I, an OECD-focused vehicle, and a North American mid-market fund designed for a leading Canadian institutional investor, accounted for the capital raised. Toronto-based Northleaf has also added to its infrastructure team. It recently hired Matthew Woodeson as managing director, and Dimitrios Siomos as director, head of infrastructure asset management. The firm said it is marketing its second OECD fund, Northleaf Infrastructure Capital Partners II, which will see an initial close in the fourth quarter.
4 min read · 17 September 2015
ARB Midstream LLC has expanded into Canada with its acquisition of Sunwest Energy Canada Ltd, a crude oil marketing and trading company based in Calgary. No financial terms were disclosed. Sunwest, which was established in 2004, will now operate under the new name of ARB Midstream Logistics Canada ULC. ARB, a Denver, Colorado-based midstream energy business, funded the deal in part by an equity commitment from its private equity backer, BV Natural Resources. The latter is an affiliate of Ball Ventures LLC, a U.S. real estate development, investment and lending company.
3 min read · 16 September 2015
WSP Global Inc (TSX: WSP) has raised about $345 million through a bought deal offering and a private placement. The latter involved a raise of approximately $144 million from existing shareholders the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. The proceeds of the two transactions will be used to help finance WSP's purchase of MMM Group Ltd, a Canadian engineering consulting business, for $425 million. It was previously reported that the Caisse was investing in the acquisition. As a result of the private placement, CPPIB and the Caisse now hold about 17.8 percent and 18 percent, respectively, of Montréal-based WSP's issued and outstanding shares.
6 min read · 16 September 2015
HIG Growth Partners, an affiliate of U.S. private equity firm HIG Capital, has made an investment in Go2mobi, a Victoria, British Columbia-based provider of mobile advertising solutions to brands, agencies and self-serve clients. The deal, the value of which was not disclosed, will see HIG partner with the company's co-founders, CEO Gavin Aitken and President Tom Desaulniers, to support Go2mobi's continued growth and technology development in the cross-screen programmatic space. Go2mobi, which conducts sales from offices in New York, San Francisco and Vancouver, plans to target new opportunities in Canada, the United States and around the world.
4 min read · 16 September 2015
Sysomos Inc, a portfolio company of OMERS Private Equity, has acquired gazeMetrix, an image recognition and visual listening platform based in Mountain View, California. No financial terms were published. Sysomos, which earlier this year acquired Expion LLC, said the deal will allow it to help brands and agencies capitalize on opportunities presented in the visual social web. Launched in 2012 through startup accelerator 500 Startups, gazeMetrix was venture-backed. Sysomos, a Toronto-based social intelligence business, was spun out of OMERS' portfolio company Marketwired Inc in February. OMERS has committed to support its global growth strategy.
4 min read · 16 September 2015
Flexera Software has bought Secunia, a Danish provider of software vulnerability management solutions that help protect organizations against cybersecurity risks. The deal's financial terms were not released. Flexera, a provider of software licensing, compliance, security and installation solutions, said the acquisition will complement its own solutions and enable companies to more proactively address cybersecurity threats. Based in Itasca, Illinois, Flexera is a portfolio company of Teachers' Private Capital, the private equity investment arm of the Ontario Teachers' Pension Plan. Teachers acquired a majority stake in the company from Thoma Bravo in October 2011.
5 min read · 16 September 2015
G.W. Anglin Manufacturing Inc, a portfolio company of Canadian private equity firms Carpedia Capital and Banyan Capital Partners, has acquired Amtech for an undisclosed amount. The deal, which builds on G.W. Anglin's acquisition of Laval, Québec-based Polytek Equipments Inc in April 2015, will further expand the company's commercial fleet upfitting business in Québec. With headquarters in Tecumseh, Ontario, G.W. Anglin is a diverse manufacturer of parts and aftermarket truck and van equipment. It has been backed by Carpedia and Banyan, an affiliate of Connor, Clark & Lunn Financial Group, since 2011.
3 min read · 16 September 2015
The Canada Pension Plan Investment Board (CPPIB) has agreed to buy a minority stake in Entertainment One Ltd (eOne), a Toronto-based entertainment business that acquires, produces and distributes film and television content. CPPIB will pay £142.4 million ($289.9 million) for a 17.9 percent interest in the company. The seller in the deal, which is expected to close within 30 days, is Marwyn Investment Management, a British private equity firm that has backed eOne since 2007. CPPIB said it wants to partner with the company "to help it achieve its ambitious growth plans of doubling in size within the next five years.” Earlier this year, eOne bought a stake in The Mark Gordon Co.
3 min read · 16 September 2015
Tricon Investment Partners (TIP), an affiliate of Canadian real estate private equity firm Tricon Capital Group, has revised its recently filed preliminary prospectus for an initial public offering of subordinate voting shares. TIP plans to sell the shares at an offering price of between $10 and $11 per share, which will generate gross proceeds of about $140 million. The offering is expected to be completed next month. TIP invests in for-sale residential developments across North America.
5 min read · 15 September 2015
Timberline Resources Corp (NYSE MKT: TLR; TSX-V: TBR) has agreed to be acquired by a fund managed by Canadian mining private equity firm Waterton Global Resource Management for US$0.58 per share. In connection with the deal, Waterton has also agreed to invest about US$500,000 in the company. Based in Coeur d'Alene, Idaho, Timberline is an explorer and developer of gold mining projects in Nevada. Waterton Partner Cheryl Brandon said the acquisition will enhance the firm's existing portfolio of high-quality development properties in the region. Earlier in 2015, Waterton bought interests in the Mount Hamilton gold project.
6 min read · 15 September 2015
