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Canadian mega-deals are back! Q9 Networks, the Montreal-based provider of outsourced data centre Canadian mega-deals are back! Q9 Networks Inc., the Montreal-based provider of outsourced data centre infrastructure, announced the final close of its acquisition by BCE, Teachers', Providence Equity Partners, and Madison Dearborn Partners for $1.1 billion. This is also a major sponsor-to-sponsor deal, as Q9 Networks was previously acquired by Boston-based ABRY Partners in August 2008 for approximately $361 million.
San Francisco-based AppDirect, a cloud service marketplace company, has acquired open source billing technology company jBilling. Terms were not released. jBilling was formed in 2002. AppDirect raised $8.5 million this summer from investors including iNovia Capital and Stingray Digital.
Frank & Oak, a personalized online clothing retailer for men, has closed $5 million in Series A financing. Lightbank led the round. Bertelsmann Digital Media Investment and Rho Canada Ventures and Real Ventures also contributed to the round. Frank & Oak is based in Montreal.
CVC Capital Partners will take a majority stake in Cunningham Lindsey Group, a loss adjusting and claims management firm, the firm announced Monday. Terms of the recapitalization were not released. In 2007, Stone Point Capital acquired a majority interest in Cunningham Lindsey via a public-to-private transaction, with Fairfax Financial Holdings, the company said in a press release. Going forward, Stone Point and Fairfax will remain “substantial and active shareholders,” the company said.
Riverstone, an energy and power-focused private equity firm in New York, has announced it will invest up to $200 million in the Houston-based oil and gas exploration and production company Kerogen Energy Holdings.
Wellington Financial has provided debt financing for SmartDrive Systems of San Diego, CA. The financing closed in conjunction with a $47 million round of equity financing. SmartDrive provides web-based driver safety and fuel solutions for fleet enterprises globally. SmartDrive is backed by leading venture capital firms, including New Enterprise Associates and Oak Investment Partners.
The Canada Pension Plan Investment Board said on Friday it will pay $1.1 billion for the heating and air conditioning business of Tomkins Ltd., a British-based industrial holdings company jointly owned by CPPIB and Onex Corp., Reuters reported. Canadian private equity firm Onex and CPPIB, which manages one of the world's largest pension funds, acquired Tomkins in 2010, and the company has since reduced its debt by selling five non-core businesses for total proceeds of almost $1 billion. The division is a North American manufacturer of residential and non-residential heating, venting and air conditioning products.
TD Bank, via its Asset-Based Lending Group, has provided $39 million in financing to support the acquisition of Albert Tire Co. by Bennett Capital Partners. Albert Tire is a wholesale distributor of tires in the Mid-Atlantic region, and is based in West Deptford, N.J. Terms of the acquisition were not released. PRESS RELEASE TD Bank, […]
Lowe’s Cos Inc. said on Monday it had withdrawn its C$1.8 billion ($1.86 billion) proposal to buy Rona Inc. in the face of stiff opposition to the unsolicited bid for the Canadian home improvement retailer. Quebec-based Rona, Canada’s home-grown answer to Lowe’s and Home Depot Inc., had rejected the C$14.50-per-share offer, saying it was not […]
OMERS Private Equity, the private equity arm of Canadian pension fund OMERS has appointed Isabelle Pagnotta as a director and Bryony Marshall as an associate to its London office. OMERS set up its London office in 2009 and has invested $640 million so far in the European market.
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