Private Equity
Alithya has bought Groupe conseil OSI Inc, an information technology consulting and services business headquartered in Montréal. The acquisition's value was not disclosed. As part of the deal, Capital régional et coopérative Desjardins and Investissement Québec, which previously invested in OSI, have become investors in Alithya. The two firms deployed $3.5 million and $1.5 million, respectively. The Fonds de solidarité FTQ also backed the transaction. Alithya is a Québec City-based provider of strategic consulting and information technology services with nine offices in Canada and France. It said the OSI purchase is in line with its growth strategy.
5 min read · 08 July 2015
Gregg Delcourt has joined Canadian alternative equity firm Alaris Royalty Corp as a senior vice president. Delcourt will lead the firm's Small Cap Investments, a new division established to make investments of up to $20 million in private companies. Alaris President and CEO Steve King said the initiative is the result of strong demand from potential business partners that did not meet the firm's current investment size criteria. He said "the robust and growing nature of our larger dollar sized deal flow" has necessitated a distinct management team "to pursue the small cap opportunities."
3 min read · 07 July 2015
Extendicare Inc (TSX: EXE) has wrapped up the previously announced sale of its U.S. business for US$870 million. The buyer was a group of investors led by U.S. private equity firm Formation Capital and an affiliate of Dubai's Safanad. Headquartered in Markham, Ontario, Extendicare operates a network of 112 senior care centres as well as a home healthcare business. The company's President and CEO Tim Lukenda said the sale of its U.S. assets will facilitate its strategic re-positioning as a pure-play Canadian senior care and services provider.
4 min read · 07 July 2015
Endurance Energy Ltd, a portfolio company of U.S. private equity firm Warburg Pincus, has agreed to buy StonePoint Energy Inc (TSX-V: STO), a Canadian junior oil and gas business. Endurance will acquire all of StonePoint's outstanding common shares for $0.078125 per share in cash. Directors and executive officers of StonePoint and certain investors reflecting about 24 percent of the company's shares have committed to vote for the deal at a special shareholders meeting. Based in Calgary, Endurance is focused on the acquisition and development of natural gas assets in Western Canada. It has been backed by Warburg Pincus since 2012.
6 min read · 07 July 2015
U.S. private equity firm Excelsior Capital Partners has acquired all of the assets of Artissimo Designs, a designer and manufacturer of ready‐to‐hang wall décor based in Montréal and Los Angeles. Excelsior has created a new El Segundo, California-headquartered platform business, Artissimo Designs LLC, to hold the assets. The new platform's Canadian division will remain in Montréal. Artissimo Designs has been a portfolio investment of U.S. private equity firm Huron Capital Partners since 2010. Excelsior said the objective of the reconstituted business will be to expand its North American product offering into the premium category.
3 min read · 07 July 2015
Telecon Group has bought the assets of AGIR Consultants Inc, a telecommunications services provider with offices in Québec. The financial terms of the deal were not published. Telecon, a Canadian specialist in the design, location, construction, maintenance and repair of telecommunications networks, said the acquisition will reinforce its Québec market presence. Based in Pointe-aux-trembles, Québec, the company is a portfolio investment of Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec. Last year, the two investors financed Telecon's buy of the engineering services unit of Netricom.
2 min read · 07 July 2015
U.S. private equity firm High Road Capital Partners has bought Ariad Communications, a Toronto-based strategic marketing agency that provides Canadian business clients with content, digital marketing and consumer activation capabilities. The acquisition's value was not disclosed. High Road said it plans to combine Ariad with an existing portfolio company, U.S.-based Bluespire Marketing, with the aim of creating a cross-border platform with distinct operating brands and enhanced capabilities. Ariad President Mike Beckerman will serve as CEO of the merged entity. High Road's other Canadian investments include Accentus and Celco Controls Ltd.
4 min read · 07 July 2015
Cross Country Pipeline Supply Co Inc has bought Sideline Specialty Equipment, a manufacturer of specialized pipeline equipment with offices in Spruce Grove, Alberta and Conroe, Texas. The financial details of the transaction were not published. Cross Country, a provider of equipment and supplies to the U.S. oil and gas pipeline construction industry, said the acquisition has facilitated its entry into the Canadian market. Based in Aurora, Colorado, Cross Country is a portfolio investment of U.S. private equity firm Odyssey Investment Partners. Odyssey invested in the company in June 2013.
3 min read · 06 July 2015
Crescent Point Energy Corp (TSX, NYSE: CPG) recently closed its acquisition of Legacy Oil + Gas Inc (TSX: LEG), a Calgary-based company focused on light oil opportunities located predominantly in Western Canada. The deal, which had a total consideration of about $1.53 billion, including the assumption of debt, provided an exit to Canadian private equity firm KERN Partners. Calgary's Crescent Point said the Legacy acquisition provided it with a number of strategic benefits, including entrance into the Midale light oil resource play.
9 min read · 06 July 2015
EPIC Piping, a portfolio company of U.S. private equity firm Bernhard Capital Partners (BCP), has agreed to acquire the Canadian pipe fabrication facility of KBR, a U.S. technology, engineering, procurement and construction business. KBR will be paid US$32 million in total for the asset, comprising a five-bay, 8,000-ton per year fabrication shop in Edmonton, and a related deal. An industrial pipe fabrication company, EPIC has its headquarters in Livingston, Louisiana.
4 min read · 06 July 2015
