Private Equity
Trussbridge Investments has led a group of investors from the Middle East to buy a majority stake in La Maison Cannelle, a Richmond, Québec-based manufacturer in the health and wellness food industry. The value of the acquisition was not published. Founded by Elizabeth DuPont in 2005, La Maison Cannell specializes in artisanal gluten-free food products. Trussbridge said the deal will back the company's growth plans, including its entry into the U.S. market and the Middle East. Headquartered in the United Arab Emirates, Trussbridge is a merchant bank set up by regional investors in 2015 in part to make mid-market investments in North America and the Middle East.
3 min read · 26 June 2015
Fairfax India Holdings, a fund set up by Canadian investor Prem Watsa to target Indian assets, is set to take a majority stake in logistics firm National Collateral Management Services sources told Reuters. One of the sources said the deal, for a 70 to 75 percent stake in the commodities storage and services business, could be worth US$120 million to US$150 million. Fairfax Financial Holdings, set up Fairfax India late last year to boost the firm's private investment in India. It went public in January this year and raised more than US$1 billion.
2 min read · 26 June 2015
Teachers' Private Capital, the private equity investment arm of the Ontario Teachers' Pension Plan, has agreed to acquire the outstanding shares of BluEarth Renewables Inc owned by ARC Financial Corp and minority investors. BluEarth management and employees will keep an ownership stake. The financial terms of the deal were not disclosed. Last November, BluEarth said it had raised over $250 million in equity from ARC, Teachers and other investors. The Calgary-based BluEarth is a renewable power producer focused on the acquisition, development and operation of wind, water and solar projects. Earlier this week, it completed its purchases of solar power assets from Canadian Solar Inc.
3 min read · 26 June 2015
Wesfarmers Ltd has agreed to acquire an interest in Quadrant Energy Pty Ltd, a company formed following the sale of Apache Energy Ltd to Brookfield Asset Management and Macquarie Capital for US$2.1 billion in early June. Wesfarmers, an Australian farmers co-operative, will invest US$100 million to obtain a 13.7 percent interest in the company. Based in Perth, Australia, Quadrant is a producer of gas for the domestic market.
2 min read · 25 June 2015
Specialty finance firm Crown Capital Partners has launched a process for raising funds via an IPO and a fourth institutional partnership. If the Calgary-based mezzanine provider is successful on both fronts, it may achieve a new hybrid capital pool of over $400 million. That’s more than the $350 million invested in total by Crown Capital in the past 13 years.
3 min read · 25 June 2015
Acasta Enterprises Inc plans to raise $275 million through an IPO, joining a line of special purpose acquisition corporations with high-profile backers raising public capital to pursue deals, Reuters reported. Acasta is headed by Anthony Melman, a former partner and managing director of Canadian private equity firm Onex Corp.
2 min read · 25 June 2015
Rogers Communications Inc has made a series of deals to try to solidify its position as Canada's largest wireless operator, Reuters reported. The company said it will pay $440 million to buy struggling wireless operator Mobilicity, which is backed by private equity, and $100 million to complete an agreement to buy airwaves from Shaw Communications Inc.
2 min read · 24 June 2015
Kristin Shearer has joined the private equity team at Northleaf Capital Partners as an associate. Based in Toronto, she will be responsible for portfolio management, evaluation and monitoring of private equity investments on behalf of the firm. Prior to joining Northleaf, Shearer was a manager in the M&A transaction services group at Deloitte LLP. Managing $6 billion in total committed capital, Northleaf is a global private equity and infrastructure investor.
2 min read · 24 June 2015
Canadian private equity firm Onex Corp recently agreed to make an undisclosed equity investment in Schumacher Group, a U.S. provider of outsourced emergency and hospital medicine clinical staffing, as well as healthcare advisory services. The deal, which is intended to support the company's continued growth, is expected to close in the third quarter. Founded in 1994, Schumacher has its headquarters in Lafayette, Louisiana. Last month, Onex agreed to invest in Jack’s Family Restaurants, a U.S. operator of quick-service restaurants.
3 min read · 24 June 2015
Canada's largest mobile operator, Rogers Communications Inc, has agreed to pay more than $400 million to acquire struggling wireless carrier Mobilicity, sources told Reuters. The agreement will soon be brought before a court overseeing Mobilicity's creditor protection process. Mobilicity's private equity investors include U.S.-based Quadrangle Group and Canada's Catalyst Capital Group.
1 min read · 24 June 2015
