Finavera Wind Energy Inc., a Vancouver-based company focused on developing wind farms in North America and Ireland, has agreed to sell its Tumbler Ridge and Meikle wind energy projects to power company Pattern Energy Group LP for up to $28 million. The deal remains subject to shareholder approval. Pattern Energy, which has offices in offices in San Francisco, San Diego, Houston, New York, and Toronto, has been a portfolio company of U.S. private equity firm Riverstone Holdings since 2009.
Canadian private equity firm Catalyst Capital Group has expressed concern about the restructuring process recently entered into by Toronto's Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc. Catalyst, which holds Mobilicity bonds, noted that proposed plans might impair the company's ability to grow and serve customers, as well as the company's ability to be successfully sold. Catalyst said it would actively support restructuring that respected stakeholder rights and that led "to a successful and viable major mobile player."
Canadian private equity firm the Fonds de solidarité des travailleurs du Québec (FTQ) has invested approximately $125,000 in NQ Exploration Inc., a mining exploration company with a portfolio of eleven gold, silver, and base metal mining properties in the James Bay and Abitibi regions of Québec. NQ Exploration is publicly-owned and is based in Montréal.
Swiss private equity firm Pala Investments has made another investment of approximately $5.1 million in Vancouver-based Nevada Copper Corporation. Nevada Copper is a large advanced stage development copper property with substantial reserves and resources including copper, gold, silver, and iron. Pala has backed the company since 2010, and now owns around 45.7% of its issued and outstanding common shares.
Avista Capital Partners has agreed to buy Telular Corp. for $12.61 a share or about $253 million. The purchase price represents a 31% premium to Telular's closing share price on April 26. Telular's board has unanimously approved the proposed acquisition by Avista. Chicago-based Telular provides remote monitoring and asset tracking solutions for business and residential customers. Oppenheimer & Co. acted as financial advisors to Telular while SunTrust Robinson Humphrey advised Avista.
GTCR has sold Actient Holdings to Auxilium Pharmaceuticals. Financial terms were not announced. Lake Forest, Ill.-based Actient is a specialty pharmaceutical company focused on the treatment of urological indications. Jefferies served as Actient's financial advisor.
The Abraaj Group has sold its stake in Unitrio Technology Ltd. The buyer was NTT Facilities, a member of the Japanese Nippon Telegraph and Telephone Corporation. Financial terms were not announced,. Unitrio, of Thailand, designs and builds data centers.
CorePower Yoga, which runs 74 studios spread in nine states and had revenue of $60 million last year, is looking for an investor, several PE sources tell peHUB.
Belgium has pared back its public debt with the sale of the structured credit portfolio held by its 'bad bank, Royal Park Investments, to U.S. private equity firm Lone Star and Credit Suisse, writes Reuters. Finance minister Koen Geens said in March that Belgium needed to find a further 1 billion euros ($1.30 billion) from asset sales to ensure that national debt did not rise above GDP, writes Reuters.
Private equity firm PAI Partners plans to finance its acquisition of R&R Ice Cream from Oaktree with a 253 million euros ($331.2 million) five-year Payment-In-Kind Toggle note, according to Thomson Reuters' publication IFR.