Ontario Teachers’ Pension Plan‘s Ron Mock, who is currently senior vice-president, fixed income and alternative investments, will succeed Jim Leech as president and CEO at the beginning of 2014. Mr. Leech, who joined Teachers in 2001 to lead the pension plan’s private equity investment arm Teachers’ Private Capital, will retire on December 31, 2013. Mr. Mock joined Teachers in 2001. His responsibilities have included being a board member of Cadillac Fairview, which manages Teachers’ $21 billion real estate portfolio.
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Ontario Teachers’ Pension Plan will acquire Plano Molding Company Inc., a supplier of outdoor sports storage systems. Terms were not released. Teachers’ is making the acquisition through its private equity division, Teachers’ Private Capital.
German investor Triton has sold Dematic, a supplier of systems that move goods around in warehouses, to two North American private equity groups, writes Reuters. AEA Investors and Teachers’ Private Capital, the private equity arm of Canadian pension fund Ontario Teachers’ Pension Plan, agreed to buy the German group for an undisclosed sum, writes Reuters.
Thoma Bravo LLC announced an agreement July 19 to sell Flexera Software, a company that provides software licensing services, in a deal that promises to generate a return of close to 5x, according to Orlando Bravo (pictured), a managing partner at the Chicago-based buyout shop, sister magazine Buyouts has reported. Flexera is the third exit announced [...]
(Reuters) – Private equity owners of New Zealand’s Yellow Pages Group have launched a sale process for the business, two sources familiar with the deal said on Friday, in a sale media reports say could be worth around $700 million. An information memorandum has been sent to potential buyers, including large private equity firms and [...]
Teachers’ Private Capital has led a buyout of Exal Group, a manufacturer of aluminum containers. No financial terms were disclosed for the deal, which included buyside participation from Stonebridge Partners.
Ares Management and Teachers’ Private Capital today announced a $730 million agreement to buy mattress maker Simmons from THL Partners. Some notes:
*** Ares/Teachers plan to put both Serta and Simmons under the same super holdco, but will operate them as separate, independent entities. Were they merged, it would become the nation’s largest mattress manufacturer (title currently held by KKR’s Sealy).
No idea how Ares/Teachers will actually manage the obvious conflicts of interest. For example, will Ares’ Simmons reps not look at their own funds’ quarterly reports that contain confidential info on Serta, and vice versa?
TORONTO (Reuters) – Arclin, a closely held maker of resins and other construction-related materials, said on Monday it filed for bankruptcy protection in Canada and the United States and that it reached an agreement in principle to restructure its debt with some of its key lenders. Under the terms of the agreement, Arclin will have [...]
Teachers’ Private Capital has completed its acquisition of Aquilex Holdings LLC from Harvest Partners. No financial terms were disclosed.
Aquilex is a Norcross, Ga.-based energy service provider specializing in refining, nuclear and fossil power generation and waste to energy. It was acquired by Harvest Partners in 2007 from First Reserve Corp. Harris Williams & Co. advised Aquilex on both transactions.