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PRT Growing Services, Ltd., a Vancouver-based producer of container-grown forest seedlings, has agreed to be taken into private ownership by Mill Road Captial for C$45.6 million. This is the US-based Mill Road's first acquisition of a Canadian firm since it bought Cossette Inc. of Quebec City in 2009.
Canadian institutional investor OPSEU Pension Trust (OPTrust) announced the appointment of a new CEO. William Hatanaka will assume the top management spot at the C$13.7 billion pension fund organization, following 30 years of experience in the financial services sector. OPTrust's Private Markets Group has become an increasingly important player in private equity, targeting 15% of total assets to this asset class. Returns from private equity holdings generated 11.3% in 2011.
AEA Investors has acquired Eagle Suspension, Dallas Spring Canada and Titan Durant Land. Financial terms of the transaction, which closed Nov. 5, were not announced. Eagle-Dallas designs and engineers multi-leaf and parabolic leaf springs and support beams for aftermarket and OEM heavy-duty truck suspension systems. Houlihan Lokey advised Eagle-Dallas.
Ontario Teachers' Pension Plan has agreed to take control of Heartland Dental Care Inc in a deal that values the US dental practice management firm at about $1.3 billion, writes Reuters. Ontario Teachers is buying a majority stake in Heartland, while founder and chief executive Rick Workman will retain a minority stake along with management and employees.
Vancouver-based Absolute® Software Corporation, a provider of persistent endpoint security and management solutions, is acquiring the assets of privately-held LiveTime Software. The business is a SaaS and on-premise help desk and IT service support management provider.
CAI Private Equity said Monday it sold its interest in Corix Group to to the British Columbia Investment Management Corp. Financial terms weren't announced. Corix, of Vancouver, B.C., provides water, wastewater and energy utility infrastructure solutions. CIBC World Markets and RBC Capital Markets advised CAI.
Canadian retailer, Hudson's Bay Co. (HBC) reported 3.8% growth in revenues in Q3 2012 in a revised prospectus that anticipates its planned IPO. Privatized in 2006, HBC was acquired by NRDC Equity Partners in 2008, and has since seen a number of its divisions sold off, including Zellers Inc., which was acquired by Target Corp. last year.
Toronto, Ontario-based Fairfax Financial Holdings has acquired 1,698,200 common shares of Imvescor Restaurant Group at a price of $0.85 per share, bringing its total holdings in Imvescor to 9,897,509 shares or approximately 23.6 percent of the total common shares outstanding. Fairfax is a financial services holding company which is engaged in property and casualty insurance and reinsurance and investment management.
Veteran Canadian private equity firm Penfund has acquired Vancouver's JET Equipment & Tools Ltd. and related subsidiaries. For Penfund, which closed its latest fund, the $460 million Penfund Capital Fund IV, earlier in 2012, the transaction represents an enhanced role as an equity sponsor.
Wind Point Partners and Ontario Teachers' Pension Plan has completed the acquisition of Shearer's Foods. Terms of the deal were not released. Based in Massillon, Ohio, Shearer’s makes private label salty snacks and kettle cooked potato chips.
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