Private Equity
Shred-it International, a document destruction services provider majority owned by Birch Hill Equity Partners, filed a preliminary prospectus for an initial public offering this week. The IPO launch comes hard on the heels of an offering made by another Birch Hill portfolio company: Sleep Country Canada.
2 min read · 17 June 2015
Dicom Transportation Group, a Canadian provider of business-to-business expedited transportation services, has bought Orbis Logistics, an asset-free provider of last-mile delivery services in the southern United States. The financial terms of the deal were not disclosed. Dicom said the acquisition, its second in the United States, will add last-mile capabilities to its current line haul network south of the border. Based in Montréal, Dicom has been a portfolio investment of U.S. private equity firm Wind Point Partners since March 2014. Earlier this year, the company acquired Modern Forwarding.
3 min read · 17 June 2015
Argon 18, a Canadian manufacturer of high performance racing bicycles sold in 70 countries, has received an investment from BDC Capital and the Fonds régionaux de solidarité FTQ, an affiliate of the Fonds de solidarité FTQ. The value of the investment was not disclosed. Argon 18, which is currently preparing for its first Tour de France with its BORA-Argon 18 team, said the capital infusion will support its growth plan. Based in Montréal, the company was founded in 1989. BDC made its investment in Argon 18 through its Growth and Transition Capital division.
4 min read · 16 June 2015
An affiliate of U.S. private equity firm HIG Capital has bought ATX Networks Corp, a Toronto-based designer, manufacturer and marketer of products for the global cable television industry and private video networks. The acquisition's value was not disclosed. The transaction provided an exit to U.S. private equity firm Pamlico Capital, which initially invested in the company in 2010. HIG said ATX and its product portfolio "provide an ideal platform to build on through both organic initiatives and add-on acquisitions." Founded in 1985, the company has a light manufacturing facility in Stuart, Florida and a research centre in Petach-Tikva, Israel.
4 min read · 16 June 2015
Hudson's Bay Co is buying Germany's leading department store chain, Kaufhof, from Metro for US$3.2 billion, giving the Saks owner a launch pad to expand into Europe, Reuters reported. Hudson's Bay, which is chaired by NRDC Equity Partners Chief Executive Richard Baker, sees the Kaufhof deal, due to close at the end of September, as the next step in its plan to become a "premier global retailer".
4 min read · 15 June 2015
TORC Oil & Gas Ltd has closed its previously announced acquisition of complementary light oil producing assets in Saskatchewan and Manitoba. The transaction, which was valued at about $430 million, saw the company purchase the assets from Surge Energy Inc. Canada Pension Plan Investment Board (CPPIB), a cornerstone investor in TORC, provided $150 million in private funding to help finance the deal. Based in Calgary, TORC is focused on the acquisition, exploration, development and production of crude oil and natural gas in Western Canada.
9 min read · 15 June 2015
Charterhouse Capital Partners has agreed to sell its stake in U.K. environmental consultancy Environmental Resources Management (ERM) to the private equity arm of the Ontario Municipal Employees Retirement System (OMERS) for an enterprise value of US$1.7 billion, Reuters reported. The Alberta Investment Management Corporation (AIMCo) is co-investing in the deal.
2 min read · 15 June 2015
Chip Wilson, who founded Lululemon Athletica Inc and left its board earlier this year after disagreements with fellow directors, is now looking to potentially sell his family's estimated US$1.3 billion stake in the yogawear maker, Reuters reported. The Vancouver-based Lululemon averted a proxy war last year when Wilson agreed to sell half his stake in the company to Advent International, a U.S. private equity firm.
2 min read · 12 June 2015
International Flavors & Fragrances Inc (NYSE: IFF) has agreed to purchase Lucas Meyer Cosmetics, a maker of ingredients for the cosmetics and personal care industry based in Québec City. IFF, a U.S. developer of flavours and fragrances used in consumer products, said it will pay about €283 million ($392 million) for the company, which is owned by Unipex Group Inc. The deal, which is expected to close in the third quarter, follows the sale in April of Unipex Solutions Canada Inc to KODA Distribution Group. Headquartered in Paris, Unipex Group is a portfolio company of European private equity firm IK Investment Partners.
5 min read · 12 June 2015
The Caisse de dépôt et placement du Québec has made an investment totaling $53 million in the Québec City Jean Lesage International Airport. The investment, which is a term loan, will be used to help finance expansion and maintenance projects at the airport, including development of its international terminal. The Caisse's investment is part of a private transaction that will provide the airport with about $265 million in funding.
2 min read · 11 June 2015
