PE-backed Q9 Networks appoints new president and CEO

Toronto-based Q9 Networks, a provider of outsourced data center infrastructure, has hired Karen Sheriff as president and CEO. The appointment becomes effective January 5, 2015. Sheriff is the former president and CEO of Bell Aliant. Q9 Networks is owned by an investor group that includes Ontario Teachers’ Pension Plan, Providence Equity Partners and Madison Dearborn Partners.


Caledon taps Dowd as a partner

Toronto-based Caledon Capital Management has recruited Stephen Dowd as a partner. Previously, Dowd worked at Ontario Teachers’ Pension Plan where he served as senior vice president.


ABRY Partners to sell Xand to TierPoint

TierPoint has agreed to buy Xand from ABRY Partners. Financial terms weren’t announced. Ontario Teachers’ Pension Plan is also investing. Xand provides colocation, cloud, disaster recovery, and managed services with six data centers in New York, Pennsylvania, Connecticut, and Massachusetts. RBC Capital Markets and Credit Suisse are providing debt financing. DH Capital provided financial advice to ABRY/Xand.


Ontario Teachers’ Pension Plan invests in Pamplona-backed CSC ServiceWorks

Ontario Teachers’ Pension Plan has agreed to buy a minority stake in CSC ServiceWorks, which is backed by Pamplona Capital Management. No financial terms were disclosed. The transaction is expected to be completed in December. Morgan Stanley served as financial advisor to CSC and Pamplona on the deal. CSC is a provider of multi-family housing and commercial laundry services.


OTPP to buy Bridon in $587.5 mln deal

The Ontario Teachers’ Pension Plan said Saturday it agreed to buy Bridon Ltd. The deal is valued at £365 million (US $587.5 million). The seller is Melrose Industries. UK-based Bridon makes wire rope.


PE-backed INC Research files for IPO

INC Research has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on listing the stock on the NASDAQ under the ticker symbol “INCR.” Goldman Sachs and Credit Suisse are the lead underwriters. Based in Raleigh, NC, INC Research is global contract research organization for the biopharmaceutical and medical device industry. Its backers include Avista Capital Partners and the Ontario Teachers’ Pension Plan.


DTZ consortium to acquire Cassidy Turley

Cassidy Turley has entered into an agreement with an affiliate of DTZ Investment Holdings to sell the business. DTZ is backed by TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan.


Forstmann Little sells 24 Hour Fitness Worldwide

Forstmann Little & Co has sold 24 Hour Fitness Worldwide. An investment group led by AEA Investors LP and the Ontario Teachers’ Pension Plan has acquired the business. Headquartered in San Ramon, CA, 24 Hour Fitness is a health club serving nearly four million members and employing 21,000 fitness professionals in over 400 clubs across the United States.


Ontario Teachers’ Pension Plan invests $300 mln in FRG

Flynn Restaurant Group has secured approximately $300 million in funding from Ontario Teachers’ Pension Plan. OTPP is buying its stake from Goldman Sachs‘ private equity arm GS Capital Partners and Weston Presidio. Headquartered in San Francisco, FRG is the largest restaurant franchisee in the U.S.


PE-backed Shearer’s Foods agrees to buy Lance Private Brands

Shearer’s Foods, a portfolio company of Wind Point Partners and Ontario Teachers’ Pension Plan, has agreed to acquire Lance Private Brands from Snyder’s-Lance. No financial terms were disclosed although some news outlets report the amount of the purchase to be $430 million. Lance Private Brands is a maker of cookies, crackers and wafers.

Alliance Laundry completes Primus Group acquisition

Alliance Laundry has closed its buy of Primus Group. No financial terms were disclosed. BMO Capital Markets advised Alliance Laundry on the transaction. Alliance Laundry is an indirect subsidiary of ALH Holding, a portfolio company of the Ontario Teachers’ Pension Plan managed by Teachers’ Private Capital. Primus Group, which is headquartered in Gullegem, Belgium, markets commercial washer-extractors, tumbler dryers, ironers and feeding and folding equipment under the Primus, Lavamac and Deli brands.

Denmark’s ISS to raise $1.5 bln in March IPO – Reuters

Danish outsourcing firm ISS A/S aims to raise 8 billion Danish crowns ($1.5 billion) through an initial public offering of stock in March, writes Reuters. EQT and Goldman Sachs hold 73 percent of ISS, after the Ontario Teachers’ Pension Plan and KIRKBI, which invests funds from the family behind Lego toys, injected 500 million euros ($685 million) for a combined 26 percent stake in 2012.

Alliance Laundry to acquire Primus Laundry Equipment Group

Alliance Laundry Holdings is acquiring Primus Laundry Equipment Group. Alliance Laundry is an indirect subsidiary of ALH Holding Inc, a portfolio company of the Ontario Teachers’ Pension Plan managed by its private equity investment division, Teachers’ Private Capital.

Reuters – GIC, Canada Fund Bid for $1.4 billion Kyobo Stakes

Government of Singapore Investment Corp and Canada’s Ontario Teachers Pension Plan are among final bidders to buy stakes in South Korea’s unlisted Kyobo Life Insurance in deals worth up to $1.4 billion, writes Reuters. Daewoo International Corp and state-run Korea Asset Management Corp are offering about a one-third stake in the life insurance company in […]

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