OMERS Private Equity related stories
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OPE to acquire Inmar from ABRYABRY Partners has agreed to sell Inmar Inc to OMERS Private Equity. No financial terms were disclosed. Kirkland & Ellis LLP is providing legal counsel for ABRY Partners and Inmar while Weil Gotshal & Manges LLP is doing likewise for OMERS Private Equity. And, Wells Fargo Securities is serving as financial adviser to Inmar. Based in Winston-Salem, North Carolina, Inmar is an analytics and technology-enabled service provider.
Penfund adds to investments in Caliber Collision, Mister Car WashCanadian private equity firm Penfund earlier this month invested in Caliber Collision Centers and Mister Car Wash (MCW), two existing portfolio companies. Penfund provided US$87 million in second-lien debt, the lead order for a new US$250 million credit facility, to Caliber, a U.S. collision repair shop operator controlled by OMERS Private Equity. Penfund also provided US$9.8 million in debt funding to MCW, a U.S. car wash operator controlled by Leonard Green & Partners. The deals, which supported dividend recapitalizations, were done via Penfund Capital Fund V, which raised $724 million last year /canada/2016/10/penfunds-fifth-mid-market-fund-closes-above-hard-cap-raising-724-mln/
Former OMERS PE pro Lisa Melchior eyes late-stage tech with VERTU launchLisa Melchior, a former managing director of OMERS Private Equity, has launched a new investment firm that targets a key capital gap faced by Canada’s late-stage tech companies. Melchior, a 17-year OMERS veteran, founded VERTU Capital in November. She told PE Hub Canada the decision was inspired by her belief that many quality Canadian tech companies lack sufficient funding to leverage early commercial success. “I spent over 20 years on Bay Street in an institutional environment, much of it leading OMERS North American technology group,” Melchior said. “When I left, I felt I wanted to work with entrepreneurial teams and tech companies seeking breakout growth and needing a partner to get there.”
- Private equity is OMERS’ best-performing asset class
The asset class’s performance improved in 2016 from the previous year, when it posted a 10% net return.
Thomas H. Lee's Give & Go buys Uncle Wally’s Bake ShoppeGive and Go Prepared Foods Corp, acquired last year by U.S. private equity firm Thomas H. Lee Partners, has bought the business of United Baking Co Inc and its affiliates Uncle Wally’s LLC and Vision Enterprises LLC. No financial terms were released. Based in Shirley, New York, Uncle Wally’s is a pure-play maker of premium muffins. Toronto's Give & Go said the deal represents the first expansion of its manufacturing footprint in the United States. It added that Uncle Wally's products will complement its own portfolio of thaw-and-sell products. Thomas H. Lee acquired Give & Go last August /canada/2016/8/omers-private-equity-triples-investment-in-give-go-sale/ from OMERS Private Equity.
PE professional Lisa Melchior joins Real Matters' boardCanadian real estate technology platform Real Matters Inc has appointed Lisa Melchior to its board of directors. Melchior is a former managing director of OMERS Private Equity (OPE). Joining OPE in 1999, she most recently led its North American technology investment group. Since late 2016, Melchoir has led Vertu Capital, a Canadian late-stage venture capital firm she founded. Markham, Ontario-based Real Matters, which is backed by Whitecap Venture Partners and other investors, is reportedly /canada/2017/1/real-matters-to-go-public-as-early-as-february-reuters/ planning to raise an initial public offering this year.
Top 2016 Canadian private equity deals secure $10.8 blnCanada’s top 10 private equity deals in 2016 reflected values of more than $10.8 billion, down 11 percent from the $12.2 billion invested in the top 10 deals in 2015. That number is based on PE Hub Canada’s list of the largest deals announced last year, supplemented by preliminary Thomson Reuters data. It suggests that PE dollar flows in Canada’s market declined in 2016, relative to a year ago, as they reportedly did on a global basis.
OMERS, Ontario Teachers' contemplate sale of High Speed 1Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), and Ontario Teachers’ Pension Plan announced they are undertaking a strategic review of their ownership of HS1 Ltd, the owner and operator of High Speed 1, a U.K. high-speed rail system. The review has been prompted by investment inquiries from third parties, Borealis and Ontario Teachers' said. The pension funds acquired the 30-year concession for the HS1 network for £2.1 billion ($3.5 billion) in 2010. The network comprises the 109 kilometre rail line and stations between London and the Channel Tunnel.
- OMERS PE seals first European exit
The Canadian pension will be reinvesting in V Group alongside global buyout house Advent International.