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Canadian pension fund organization the Caisse de dépôt et placement du Québec has made an investment in Morgan Schaffer Corp., which provides insulating oil testing services to businesses in the electrical industry. LaSalle, Québec-based Morgan Schaffer obtained a combined C$5.7 million in private equity and a loan from the Caisse. The proceeds will be used to fund the company's global expansion plans.
DIRTT Environmental Solutions Ltd., a private Calgary, Alberta-based firm that manufactures and distributes interior construction solutions, has received C$20 million in financing from  Kayne Anderson Mezzanine Partners, a mid-market private equity investor based in Los Angeles. DIRTT Environmental Solutions has since 2011 been backed by a number of Canadian and U.S. venture capital investors, including Apex Venture Partners,  EDC Equity Fund, Expansion Capital Partners, NGEN Partners and North Sky Capital.
GoodLife Fitness Centers Inc., a privately owned company which operates a chain of fitness clubs across Canada, has acquired seven independent Gold's Gym locations in Alberta and Ontario.  Based in London, Ontario, GoodLife Fitness has since 2006 been backed by Canadian private equity funds, including Penfund and Manulife Capital. The company's CEO, David Patchell-Evans, was Canada's Venture Capital and Private Equity Association's "Entrepreneur of the Year" in 2010.
Bunker Hill Capital, a Boston-based private equity firm, has put an undisclosed amount of money into Vesta Partners, a provider of consulting and implementation services and technologies. Terms were not released, though the firm said that Vesta’s founders will remain “significant shareholders” and that the management team will continue in their current roles.
CVC Capital Partners has acquired a majority ownership of Cunningham Lindsey Group from existing shareholders Stone Point Capital and Fairfax Financial Holdings. Stone Point and Fairfax, along with the management team, will remain “substantial and active shareholders,” the company said. Terms were not disclosed.
Prism Medical Ltd., a provider of durable medical equipment and related services to the mobility disadvantaged, announced an agreement to buy the manufacturing assets of Burnsville, Minn.-based MedCare Products Inc. As part of the same transaction, Mississauga-based Prism will for 10 years be an exclusive supplier to MedCare's on-going business. Since 2004, Prism has been backed by private equity investor Yellow Point Equity Partners.
Pacific Rubiales Energy Corp., a Canadian-based producer of natural gas and heavy crude oil, announced it will purchase C&C Energia Ltd. According to Reuters, the $500 million transaction will expand exploration and development capacity in Columbia, where both firms have operations. The acquisition is expected to be completed in 2013. C&C Energia has in past received investment from Calgary-based private equity firm 32 Degrees Capital.
In its second retail-focused deal this month, Canadian mid-market buyout firm Novacap announced it has acquired a stake in Pipp Mobile Storage Systems Inc., a provider of management solutions for customer-specific storage needs. Walker, Michigan-based Pipp Mobile was sold to Novacap by Chicago private equity investor Prospect Partners, which acquired the company in 2005. Last week, Novacap entered into an agreement to acquire Saint-Laurent, Québec-based luggage retailer Bentley Leathers Inc.
Innovative Hearth Products, which is backed by Comvest Partners, has sold a subsidiary, Security Chimneys International, to M&G Duravent Inc. Terms were not released.
Philippine Metals, a Calgary, Alberta-based company focused focused on the discovery and development of copper and copper-gold deposits in the Philippines, has announced that executive Feisal Somji has resigned as CEO and as a board member, effective immediately. No reason is being given. Somji is being replaced as CEO by Craig Lindsay, another of the company's board members. Lindsay is also currently the president and CEO of Otis Gold Corp., and a managing director of Arbutus Grove Capital Corp.
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