Private Equity
MANN+HUMMEL has agreed to buy Affinia Group, an Ann Arbor, Michigan-based provider of replacement parts for on and off-road vehicles. No financial terms were disclosed. Robert W. Baird & Co served as financial advisor to Affinia on the transaction. Affinia is backed by Cypress Group, OMERS and Northwestern Mutual.
2 min read · 17 August 2015
The Canadian subsidiary of Serta Simmons Bedding LLC has acquired Canwest Bedding Ltd, an independent Serta licensee. No financial terms were disclosed. Serta, the Atlanta, Georgia-based owner of bedding brands National Bedding Co LLC and Simmons Bedding Company LLC, said Canwest will continue to operate from its current location in Winnipeg, supplying customers in Manitoba, Saskatchewan and Ontario. Serta has been a portfolio company of U.S. private equity firm Advent International since October 2012.
3 min read · 14 August 2015
The private equity group of Brookfield Asset Management has wrapped up its acquisition of GrafTech International Ltd. After buying a minority stake earlier this week, Brookfield purchased additional shares of GrafTech’s common stock, giving it a total interest of about 86.4 percent. As reported by peHUB Canada in April 2015, the entire transaction is valued at about US$840 million. Based in Independence, Ohio, GrafTech is a producer of graphite material solutions used in steel manufacturing and other industries and end markets. Upon the completion of a merger arrangement with Brookfield, the company's shares will be delisted from the New York Stock Exchange.
2 min read · 14 August 2015
The Canada Pension Plan Investment Board (CPPIB), one of the world's biggest deal-makers, reported a small quarterly investment loss as declines in equity and fixed income markets offset gains in other investments, Reuters reported. CPPIB's net assets stood at $268.6 billion at the end of June 30.
1 min read · 14 August 2015
Canadian private equity firm Serruya Private Equity has acquired Sani-Service, a Canadian commercial hygiene and chemical services provider with operations in Ontario, British Columbia and Alberta. The financial details of the transaction were not published. The company, which is based in Markham, Ontario, was bought from Swisher Hygiene Inc, a U.S. sanitation solutions business. Serruya Managing Partner Michael Serruya said the firm sees opportunities to grow Sani-Service organically and through strategic acquisitions. Earlier this year, Serruya bought Tivoli Audio LLC.
2 min read · 14 August 2015
Aberdeen International Inc has agreed to sell some of its public and private holdings to an affiliate of U.S. private equity firm Landmark Partners. The approximate price of the deal, which is expected to close on or before August 31st, is $11.8 million. At the close, Aberdeen will receive about $8.1 million in gross proceeds. Included in the transaction are shares of Tahoe Resources Inc, a Canadian mining company with interests in Central and South America. Sixpoint Partners LLC is advising Aberdeen on the sale.
5 min read · 14 August 2015
U.S. private equity firm Crestview Partners stands to make a bundle on this week’s sale of Canadian auto parts maker Stackpole International, according to a source with knowledge of the matter. Hong Kong’s Johnson Electric Holdings announced that it will pay up to $867 million for Stackpole, which will give Crestview a more than 30 percent internal rate of return, the source said.
2 min read · 14 August 2015
Intelex Technologies Inc, a Canadian provider of environmental, health, safety and quality management software, has secured $160 million in funding. The round was led by U.S. growth equity firm JMI Equity and was joined by HarbourVest Partners. With more than 1,000 clients, Intelex's solutions help businesses improve performance, mitigate risk, and ensure compliance with international standards. The round's proceeds will be used to support the Toronto-based company's continued growth. As part of the deal, JMI's David Greenberg, Harry Gruner and Bert Winemiller will join Intelex's board of directors, as will HarbourVest's Rob Wadsworth.
5 min read · 13 August 2015
With a sinking oil price driving Canadian energy shares to decade lows, activist hedge funds are pushing hard for companies to look at mergers and acquisitions or asset sales to curb costs and help the funds reduce their own investment losses, Reuters reported. U.S. hedge funds FrontFour Capital, Orange Capital and Livermore Partners, as well as Canada's West Face Capital, have been the most active of late.
3 min read · 13 August 2015
Aqua Terra Water Management LP, a Canadian portfolio investment of U.S. private equity firm Bregal Partners, has bought Advance Hydrocarbon Corp, which operates a saltwater disposal and water-hauling business in Central Texas. No financial terms were not disclosed. The acquisition enhances the company's presence in unconventional plays in the United States and Canada, Bregal Partners said. Four Winds Energy Services Ltd is the Grande Prairie, Alberta-based subsidiary of Aqua Terra.
3 min read · 13 August 2015
