• ONCAP’s Pinnacle raises $150 mln from IPO, greenshoe to come February 6, 2018 6:05 pm
    Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet maker and distributor, has closed its initial public offering and secondary offering, raising $150 million. The company's shares will begin trading today on the Toronto Stock Exchange under the symbol PL. The IPO's greenshoe option may increase proceeds to more than $172 million. ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, effected capital changes prior to the close, giving ONCAP control over 42.9 percent of Pinnacle's outstanding common shares. ONCAP acquired a majority stake in the company in 2011.
    Kirk Falconer
  • ONCAP’s Pinnacle adjusts IPO target, seeks up to $172 mln January 31, 2018 4:11 pm
    Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet maker and distributor, has filed a final prospectus with Canadian securities regulators for an initial public offering. The company is seeking to raise $150 million, or about $172 million if the greenshoe option is fully exercised. Pinnacle previously targeted as much as $200 million, including the greenshoe option. The prospectus in its final form no longer identifies ONCAP, the mid-market private equity arm of Onex Corp, among the IPO's selling shareholders, which are targeted to raise as much as $102 million. ONCAP bought a majority stake in Pinnacle in 2011.
    Kirk Falconer
  • A16z and Sequoia-backed blockchain fund seeks TSX listing January 29, 2018 8:04 pm
    Polychain Capital, a blockchain technology hedge fund manager backed by U.S. venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, is planning to launch an initial public offering in Canada, according to a report by Bloomberg. Polychain, which invests in blockchain-based digital assets, aims to raise about $400 million (US$325 million) and list on the Toronto Stock Exchange, the report said. San Francisco-based Polychain was founded in 2016 by CEO Olaf Carlson-Wee. The fund manager's other backers include U.S. venture capital firm Union Square Ventures.
    Kirk Falconer
  • Brookfield-owned GrafTech International launches IPO January 19, 2018 6:08 pm
    GrafTech International Ltd, an Independence, Ohio-based producer of graphite material solutions, has registered with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The IPO, which has not yet been priced, will allow Brookfield Business Partners (BBP), GrafTech's sole shareholder, to sell shares. BBP is the listed affiliate of Toronto-based Brookfield Asset Management's private equity group, which acquired GrafTech for about US$840 million in 2015.
    Kirk Falconer
  • ONCAP’s Pinnacle shoots for $200 mln in 2018’s first PE-backed IPO January 10, 2018 7:22 pm
    Pinnacle Renewable Energy Group, an industrial-wood-pellet maker and distributor, this week priced its recently filed initial public offering in Canada. The Richmond, British Columbia, company is seeking to raise $175 million by selling common shares at $13 to $15 per unit, the updated prospectus shows. The issue’s greenshoe option, if fully exercised, would bring the total raised to more than $200 million. Pinnacle has been majority owned by ONCAP, the mid-market private equity arm of Onex Corp, since 2011. Its IPO is 2018’s first in Canada backed by a PE firm. PE and venture capital firms looking to monetize their investments played a key role in the domestic IPO market last year, raising a combined $2.3 billion.
    Kirk Falconer
  • Oaktree’s Neo Performance wraps up IPO, raises $220 mln January 8, 2018 8:11 pm
    Neo Performance Materials Inc, an advanced materials supplier, has wrapped up the greenshoe option of its recent initial public offering in Canada. The option generated an additional $19.8 million, bringing the issue's total proceeds to about $220 million. The company's majority owner, U.S. distressed investor Oaktree Capital Management, accounted for the entire amount, leaving it with 65.7 percent of issued and outstanding shares. Toronto-based Neo Performance, which emerged from bankruptcy in 2016, commenced trading on the Toronto Stock Exchange under the symbol “NEO” in December.
    Kirk Falconer
  • Canadian IPO activity seen accelerating in 2018: Reuters January 4, 2018 8:48 pm
    Initial public offerings by Canadian companies are expected to increase in 2018, driven by activity in industrials, alternative energy and base metals sectors, banking advisers told Reuters. Companies raised $4.6 billion (US$3.7 billion) through IPOs in 2017, marking a surge in activity following a lull the previous year, according to numbers from Thomson Reuters that were released on Thursday. There were 22 IPOs, the highest for Canada since 2013. With asset valuations at elevated levels, private equity firms are looking to monetize their investments, often choosing between an IPO and a sale. PE Hub Canada in December estimated that a dozen Canadian private equity- and venture-backed IPOs raised $2.3 billion last year.
    Reuters News
  • Canada’s IPO market posts $5.1 bln five-year record in 2017 January 2, 2018 10:32 pm
    Canada’s initial public offering (IPO) market set a five-year record in 2017, with a total of $5.1 billion in proceeds raised by 38 new equity issues, according to a survey by PwC. Activity was supported by an especially strong fourth quarter that saw $1.7 billion raised, in large part due to revived mining IPOs. Private equity- and venture-backed IPOs also played a key role in 2017 trends and could continue to exert influence in 2018, PwC National IPO Leader Dean Braunsteiner said. PE Hub Canada in December estimated that a dozen private equity- and venture-backed IPOs raised $2.3 billion last year.
    Kirk Falconer
  • ONCAP’s Pinnacle Renewable files to go public in Canada December 18, 2017 10:47 pm
    Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet manufacturer and distributor, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO has not yet been priced; however, Reuters reported the company is looking to raise about $175 million. The offering contemplates a secondary sale of shares by ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp. ONCAP acquired a majority stake in Pinnacle in 2011, investing $71 million in the deal. The IPO is being co-led by CIBC Capital Markets and RBC Capital Markets.
    Kirk Falconer
  • ONCAP-backed wood pellets producer Pinnacle set to list: Reuters December 15, 2017 8:58 pm
    Wood pellets producer Pinnacle Renewable Energy Inc, owned by Canadian private equity firm Onex Corp, wants to raise about $175 million (US$136 million) through a Toronto initial public offering, sources familiar with the matter told Reuters this week. A successful deal would make it the second-biggest renewable energy IPO in Canada after TransAlta Renewables Inc raised $221 million in 2013, according to Thomson Reuters data. Onex has hired CIBC as the lead underwriter for the IPO, the sources said. ONCAP, a unit of Canadian buyout firm Onex that focuses on the middle market, acquired a majority stake in Richmond, British Columbia-based Pinnacle in May 2011 for $71 million.
    Reuters News
  • Private equity-backed IPOs raise $2.3 bln in 2017, drive market rebound December 13, 2017 9:56 pm
    Canada’s market for initial public offerings came roaring back this year from a dismal 2016, due in no small part to new issues backed by private equity and venture capital funds. This year “was a breakthrough year in the IPO market, one of the best of the past decade,” Dean Braunsteiner, national IPO services leader at PwC Canada, told PE Hub Canada. Braunsteiner gives some of the credit to PE and VC funds investing in the wake of the 2007-2009 recession and now on the lookout for liquidity opportunities. This trend, combined with pent-up demand and rising share prices late last year, created a “perfect storm,” he said. Taken together, a dozen Canadian PE- and venture-backed IPOs collected $2.3 billion in 2017.
    Kirk Falconer
  • Oaktree’s Neo raises $200 mln from IPO, begins TSX trading December 8, 2017 3:32 pm
    Neo Performance Materials Inc, an advanced materials supplier, has closed its initial public offering in Canada. The company raised gross proceeds of more than $200 million, all of which will go to its majority owner, U.S. distressed investor Oaktree Capital Management. The amount raised may increase to $230 million if the offering's greenshoe option is fully exercised. Toronto-based Neo Performance, which emerged from bankruptcy last year, will commence trading today on the Toronto Stock Exchange under the symbol "NEO". The company originally priced its IPO to raise as much as $345 million.
    Kirk Falconer
  • Oaktree’s Neo Performance adjusts IPO to raise $230 mln December 5, 2017 6:04 pm
    Neo Performance Materials Inc, an advanced materials producer, has revised its recently filed initial public offering in Canada. The company, owned by U.S. distressed investor Oaktree Capital Management, said it will sell up to 12.8 million shares at $18 per unit, generating as much as $230 million in gross proceeds. It originally priced the offering, expected to close on December 8, to raise as much as $345 million. As reported by PE Hub Canada, Oaktree took control of Neo Performance when the Toronto-based company emerged from bankruptcy in 2016. The investor will account for all of the IPO's proceeds.
    Kirk Falconer
  • Private equity-backed waste manager GFL plans $1 bln IPO: Reuters November 29, 2017 10:30 pm
    Private equity-backed Canadian waste management company GFL Environmental Inc is seeking to raise as much as $1 billion in an initial public offering that could be filed as early as the first quarter, sources told Reuters. A $1 billion IPO would be the biggest Canadian listing since Kinder Morgan Canada Ltd raised $1.7 billion early this year, and would value GFL at nearly $5 billion, the sources said. It would provide an exit for investors including U.S. private equity firm HPS Investment Partners and Macquarie Infrastructure Partners III, a fund linked to a unit of Australian financial services firm Macquarie Group. While an IPO is one of several ways to unlock value, no decision has been made to proceed with an offering, GFL General Counsel Joy Grahek said. GFL is also backed by Canadian private equity firm Hawthorn Equity Partners.
    Reuters News
  • Onex to collect $120 mln more from Jeld-Wen secondary sale November 16, 2017 7:56 pm
    Jeld-Wen Holding Inc (NYSE: JELD) has priced a secondary offering of 12.5 million shares at US$33.75 per unit for certain investors, including Canadian private equity firm Onex Corp. Onex, which has backed the company since 2011, said its proceeds will be about US$120 million. They add to the US$418 million collected by the firm from a secondary sale in May. Onex will continue to have an economic interest of 33 percent. Jeld-Wen, a Charlotte, North Carolina-based maker of doors and windows, wrapped up its initial public offering earlier in 2017. Onex this week closed fundraising for Onex Partners V, raising US$7.15 billion.
    Kirk Falconer
  • Mercer Park launches cannabis SPAC IPO, seeks $125 mln November 15, 2017 9:28 pm
    Cannabis Strategies Acquisition Corp, a Canadian special purpose acquisition corporation (SPAC), has filed an amended and restated preliminary prospectus with most domestic securities regulators for an initial public offering of $125 million of class A restricted voting units. Cannabis Strategies is being sponsored by an affiliate of U.S. family office Mercer Park, led by CEO Jonathan Sandelman. For its qualifying transaction, it will target an acquisition of one or more businesses or assets in the marijuana production, marijuana distribution, and related sectors. It plans to list on the Aequitas NEO Exchange.
    Kirk Falconer
  • ARC Financial to sell up to $75 mln in STEP Energy shares November 13, 2017 10:34 pm
    STEP Energy Services Ltd, a Calgary coiled tubing and fracturing solutions provider, has launched a secondary offering of common shares on behalf of ARC Financial Corp, a Canadian energy private equity firm. The offering will sell about 5.3 million shares at $12.25 per unit, generating more than $65 million in gross proceeds. The offering's greenshoe option, if fully exercised, will increase the proceeds to about $75 million. ARC, which invested in STEP in 2011, will as a result see its interest reduced to about 67.9 percent of issued and outstanding shares, not including the greenshoe option. STEP went public earlier this year, raising $100 million.
    Kirk Falconer
  • Oaktree to capture proceeds of Neo Performance’s $345 mln IPO November 10, 2017 7:36 pm
    Neo Performance Materials, an advanced-materials supplier that emerged from bankruptcy in 2016, priced its recently filed initial public offering in Canada. The Toronto company is looking to raise $345 million by selling common shares at $19 to $22 per unit, the updated prospectus shows. The issue’s greenshoe option, if fully exercised, would bring the total raised to $345 million. All proceeds from the IPO will go to Neo Performance’s majority owner, Los Angeles distressed investor Oaktree Capital Management. This suggests Oaktree will likely reclaim a sizeable portion of the investment it made when it took control of the company a little over a year ago.
    Kirk Falconer
  • Reborn steelmaker Stelco eyes organic, M&A growth: Reuters November 10, 2017 7:26 pm
    Resurrected Canadian steelmaker Stelco Holdings Inc is banking on growth from ramped-up production and acquisitions, Chief Executive Alan Kestenbaum told Reuters, as the 107-year-old company completed its initial public offering. Hamilton, Ontario-based Stelco, owned by U.S. private equity group Bedrock Industries, will use part of its $230 million IPO proceeds on projects that boost capacity at its two steel-processing facilities in southern Ontario. The listing also allows quick access to capital markets if a suitable M&A deal emerges among “numerous” potential targets, Kestenbaum said.
    Reuters News
  • Bedrock-owned Stelco prices IPO to raise up to $230 mln November 3, 2017 2:56 pm
    Canadian steel company Stelco Inc has priced its initial public offering on the Toronto Stock Exchange to raise gross proceeds of more than $200 million. Stelco has also granted to underwriters a greenshoe option that could generate an additional $30 million. Shares are expected to begin trading on November 3 under the symbol "STLC". Hamilton, Ontario-based Stelco earlier this year emerged from creditor protection and closed a restructuring deal with U.S. private equity firm Bedrock Industries Group. With the IPO's close, Bedrock is expected to hold 86.5 percent of the company’s outstanding shares, not including the greenshoe option.
    Kirk Falconer
  • Roots wraps up $200 mln IPO, Searchlight reduces stake October 25, 2017 3:40 pm
    Canadian apparel and lifestyle brand Roots Corp has wrapped up its initial public offering and will commence trading on the Toronto Stock Exchange under the symbol "ROOT". The IPO raised more than $200 million in proceeds, most of which will go to selling shareholders, including U.S. private equity firm Searchlight Capital Partners, which acquired Roots in 2015. Exercise of the IPO's greenshoe option may increase the amount raised to as much as $230 million. As a result, Searchlight will reduce its ownership of the company to 47.7 percent of issued and outstanding shares, or 42.9 percent if the greenshoe option is exercised, according to the prospectus.
    Kirk Falconer
  • U.K. masts group Arqiva broadcasts $2 bln IPO plan: Reuters October 23, 2017 9:35 pm
    British broadcast and mobile masts company Arqiva plans to raise around 1.5 billion pounds (US$2 billion) in the biggest initial public offering in London so far in 2017, Reuters reported. After 2.6 billion pounds worth of debt held by shareholders is converted into equity, Arqiva’s implied enterprise value, which includes debt, could be around 6 billion pounds, a source said. The listing of at least 25 percent of Arqiva is expected to be the largest in terms of proceeds in London so far this year, although its shareholders, including Canada Pension Plan Investment Board and Macquarie Infrastructure Fund, only intend to sell shares through an over-allotment option of up to 15 percent.
    Reuters News
  • Bedrock-owned Stelco seeks $200 mln from IPO: Reuters October 23, 2017 8:02 pm
    Canadian steelmaker Stelco Holdings Inc expects its initial public offering to be priced between $16 to $18 per share, raising about $200 million (US$158 million) at the mid-point, Reuters reported. The company, owned by U.S. private equity firm Bedrock Industries, plans to offer between 11.11 million and 12.50 million of common shares. Stelco, which is emerging from its second bankruptcy in 13 years, will list on the Toronto Stock Exchange under the symbol “STLC”.
    Reuters News
  • Vertex gains listing with $85.8 mln deal, 32 Degrees invests October 19, 2017 9:31 pm
    Vertex Resource Group Ltd, a Sherwood Park, Alberta-based provider of environmental and industrial services, has completed an $85.8 million qualifying transaction on the TSX Venture Exchange. The deal, which saw Vertex amalgamate with capital pool company Vier Capital Corp, allowed Vertex to begin trading on the exchange this week. Canadian private equity firm 32 Degrees Capital acquired about 19.41 percent of issued and outstanding shares as part of the qualifying transaction. Founded in 1976, Vertex provides a range of project services to oil and gas, utilities, telecommunications, forestry, agriculture and other industries.
    Kirk Falconer
  • Bedrock-owned Stelco faces headwinds for planned IPO: Reuters October 18, 2017 9:50 pm
    Canadian steelmaker Stelco Holdings Inc’s planned initial public offering could be a tough sell as it faces the twin headwinds of slowing North American auto sales and the uncertain impact of trade talks, even as it looks to cash in on a rebound in steel prices, Reuters reported. Stelco also needs to regain investor confidence just months after emerging from its second bankruptcy in 13 years, analysts and investors said, as its new owner seeks to raise $185 million by selling a stake in the restructured, almost debt-free company. Stelco, now owned by U.S. private equity group Bedrock Industries, filed in late September for the initial public offering and is now marketing it.
    Reuters News
  • Searchlight’s Roots raises $200 mln from IPO: Reuters October 18, 2017 3:14 pm
    Canadian apparel company Roots Corp raised $200 million in its initial public offering, a source with direct knowledge of the matter told Reuters. The company priced its shares at $12 on the Toronto Stock Exchange, according to the source, down from a previous range of $14 to $16. Roots, known for its trademark beaver logo, is set to make its debut seven months after Canada Goose Holdings Inc had its high-flying IPO. The company has been a portfolio investment of U.S. private equity firm Searchlight Capital Partners since 2015. Searchlight is selling shares as part of the offering.
    Reuters News
  • Oaktree-owned Neo Performance Materials files to go public October 18, 2017 2:21 pm
    Neo Performance Materials Inc, a Toronto-based producer of advanced materials, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO, which has not yet been priced, contemplates a secondary sale of shares by U.S. private equity firm Oaktree Capital Management, the company's majority shareholder. Oaktree reportedly took control of Neo Performance, formerly known as Molycorp Inc, when it emerged from bankruptcy in 2016. Scotiabank and RBC Capital Markets are acting as joint book-runners for the IPO, and Cormark Securities is acting as co-lead underwriter.
    Kirk Falconer
  • Bregal Partners’ Aqua Terra files to go public in Canada October 10, 2017 2:33 pm
    AQTWM Inc, or Aqua Terra Water Management LP, has filed a preliminary prospectus with domestic securities regulatory authorities for an initial public offering of its common shares. The IPO, which has not yet been priced, will be made through a syndicate of underwriters co-led by TD Securities Inc, Canaccord Genuity Corp and RBC Capital Markets Inc. Aqua Terra was launched in 2013 by Bregal Partners, a U.S. private equity firm, to provide oilfield water management and logistics services. It acquired multiple Canadian companies, beginning with Four Winds Energy Services Ltd (2013). Aqua Terra's Canadian office is in Calgary.
    Kirk Falconer
  • CCMP may cash out of Jamieson with new $241 mln offering October 4, 2017 3:47 pm
    U.S. private equity firm CCMP Capital Advisors and another Jamieson Wellness Inc shareholder have increased the size of their secondary offering of shares. They plan to offer about 13 million shares at a price of 18.50 per unit, generating about $240.9 million in gross proceeds, not including the greenshoe option. That is up from a prior target of about $150.2 million. CCMP, which bought Jamieson in 2014, will as a result reduce its stake from 39.2 percent to 4.7 percent or, if the greenshoe option is exercised, to zero. Jamieson, a Canadian vitamin and natural health products company, went public in July.
    Kirk Falconer
  • CCMP to reduce Jamieson stake in $150 mln secondary sale October 2, 2017 10:57 pm
    U.S. private equity firm CCMP Capital Advisors has agreed to sell additional common shares of Jamieson Wellness Inc (TSX: JWEL), a Canadian vitamin maker that went public in July. CCMP will sell 8.1 million shares for 18.50 per unit. Together with a concurrent secondary sale, the gross proceeds will be about $150.2 million, not including the offering's greenshoe option. CCMP, which acquired Jamieson in 2014, will as a result reduce its stake from 39.2 percent to 17.7 percent, or 14.4 percent if the greenshoe option is exercised in full. As reported by PE Hub Canada, CCMP earned 3x its invested capital from Jamieson's initial public offering.
    Kirk Falconer
  • Searchlight’s Roots seeks to raise $200 mln from IPO: Reuters October 2, 2017 6:16 pm
    Canadian apparel company Roots Corp has set a price range of $14 to $16 per share for its planned Toronto initial public offering, seeking to raise about $200 million, according to a term sheet of the deal seen by Reuters. Roots, known for its trademark beaver logo, rustic casual wear and Canadian-made leather goods, is expected to price the IPO in the week of October 16. But investors hoping for Roots to score another high-flying IPO debut like its bigger counterpart Canada Goose Holdings Inc may be in for a disappointment, given the company's more modest growth and broader retail challenges. Roots is a portfolio company of U.S. private equity firm Searchlight Capital Partners, which acquired a controlling stake in 2015.
    Reuters News
  • Bain Capital, Beaudier, CDPQ to sell $498.5 mln in BDP shares September 28, 2017 9:28 pm
    Beaudier Inc, U.S. private equity firm Bain Capital and Caisse de dépôt et placement du Québec (CDPQ) have agreed to sell as much as 11.5 million subordinate voting shares of BRP Inc (TSX: DOO), a Valcourt, Québec-based maker of powersports vehicles and propulsion systems. The secondary deal, priced at $43.35 per share, will generate proceeds to the selling shareholders of up to $498.5 million. With the offering's close, all three investors will continue to hold stakes in the company. BRP was acquired by the family-owned Beaudier, Bain and CDPQ in 2003. The company went public in 2013.
    Kirk Falconer
  • Reborn steel producer Stelco seeks $185 mln from IPO: Reuters September 28, 2017 1:18 pm
    Steel producer Stelco Holdings Inc, which emerged from bankruptcy protection three months ago, said this week it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of its shares, Reuters reported. Stelco, which is owned by U.S. private equity firm Bedrock Industries Group LLC, is seeking to raise about $185 million (US$150 million) in the share sale and could have a market value of about $1.2 billion (US$1 billion), a source said. Hamilton, Ontario-based Stelco emerged from nearly three years of bankruptcy protection on June 30 after it was able to extinguish its debt and sign new agreements with its unions. This was its second time in bankruptcy court after it emerged from protection in 2007 when U.S. Steel Corp bought the company for US$1.1 billion.
    Reuters News
  • Bedrock Industries-backed Stelco files to go public in Canada September 27, 2017 10:00 pm
    Canadian steel company Stelco Inc has filed a preliminary prospectus with domestic securities regulatory authorities for an initial public offering of its common shares. The IPO, which has not yet been priced, contemplates a treasury offering. The proceeds will be used for investments in new products and Stelco's production capabilities, pre-payments of certain future benefit obligations, and other priorities. Goldman Sachs & Co LLC and BMO Capital Markets are acting as joint bookrunners. Hamilton, Ontario-based Stelco earlier this year emerged from creditor protection and closed a restructuring deal with U.S. private equity firm Bedrock Industries Group.
    Kirk Falconer
  • CPPIB anchors SBI Life’s $1.3 bln IPO, India’s biggest since 2010: Reuters September 22, 2017 2:49 pm
    SBI Life Insurance Co Ltd’s initial public offering to raise 84 billion rupees (US$1.3 billion), India’s biggest IPO in seven years, was subscribed more than 3.5 times on the closing day, strengthening the outlook for share sales in what is expected to be a record year, Reuters reported. SBI Life, which will be the second life insurance company to list, saw bids for about 29.5 million shares, compared to the 8.8 million shares on offer, stock exchange data showed. Anchor investors, including Canada Pension Plan Investment Board and Singapore state investor GIC, have already committed to subscribe to 22.26 billion rupees worth of shares.
    Reuters News
  • Iconic Canadian retailer Roots files for IPO: Reuters September 14, 2017 1:34 pm
    Canadian lifestyle retailer Roots Corp said this week it filed a preliminary prospectus with the securities regulatory authorities in Canada for a proposed initial public offering of its common shares, Reuters reported. The company, known for its casual wear and leather goods with a distinctive beaver logo, said New York-based private equity firm Searchlight Capital Partners LP and founders Michael Budman and Don Green are selling their stake. The retailer is seeking to raise about $200 million in the share sale this month and could have a market value of about $700 million (US$574 million) after listing, Bloomberg reported. Searchlight acquired a controlling stake in Roots in late 2015.
    Reuters News
  • VC-backed Clementia wraps up Nasdaq IPO, raises $174 mln August 22, 2017 3:51 pm
    Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has wrapped up its initial public offering on the Nasdaq Global Market. The company raised an additional $22 million (US$17.9 million) in proceeds from the offering's greenshoe option, bringing total proceeds to about $174 million (US$137.9 million). Its shares began trading on Nasdaq earlier this month under the symbol "CMTA". Founded in 2010, Clementia has been backed by BDC Capital, Fonds de solidarité FTQ, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
    Kirk Falconer
  • Venture-backed Clementia raises $152 mln in Nasdaq debut August 9, 2017 8:31 pm
    Montréal biopharmaceutical company Clementia Pharmaceuticals Inc last week raised about $152 million (US$120 million) from its initial public offering on the Nasdaq Global Market. The news was noted by BDC Capital Healthcare Fund, an investor in Clementia since 2012. The company's other backers include Fonds de solidarité FTQ, Janus Henderson, OrbiMed Advisors and New Enterprise Associates. Clementia's IPO is the second completed this year by a Canadian life sciences company. In May, Vancouver's Zymeworks Inc secured about $86 million (US$64 million) from its Canadian and U.S. offering.
    Kirk Falconer
  • U.K. mobile masts group Arqiva hires banks for IPO: Reuters August 8, 2017 4:15 pm
    Arqiva, a company that runs much of Britain's TV and mobile infrastructure, has hired four banks for an initial public offering, a source told Reuters. The company, whose biggest shareholders include Canada Pension Plan Investment Board and Macquarie Group, has appointed Barclays, Goldman Sachs, HSBC and JP Morgan for the listing, the source said. Arqiva, which carried the BBC's first TV broadcast in 1936, works with major mobile operators, independent radio groups and leading British broadcasters.
    Reuters News
  • CCMP triples its money with IPO of Jamieson Wellness August 8, 2017 12:49 pm
    CCMP Capital Advisors earned 3x its investment in Jamieson Wellness following the vitamin maker’s recent initial public offering, two sources with knowledge of the matter told PE Hub Canada. Jamieson wrapped up its IPO on the Toronto Stock Exchange last month, raising more than $345 million, including the greenshoe option. Of these proceeds, about $100 million went to CCMP and other selling shareholders. Another part of CCMP’s realization came from a reorganization of the company’s capital prior to the IPO’s close. In the prospectus, Jamieson said it would use the bulk of its $245 million in treasury proceeds to make debt, dividend and other payments to CCMP linked to the capital change.
    Kirk Falconer
  • VC-backed Clementia prices IPO to raise as much as $172 mln August 3, 2017 6:11 pm
    Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has priced its recently filed initial public offering on the Nasdaq Global Market. The company plans to sell up to 9.2 million common shares at US$15 per unit, which would generate proceeds of as much as $172 million (US$138 million). The issue is expected to close on August 7. Founded in 2010 by CEO Clarissa Desjardins, Clementia is developing treatments for patients suffering from debilitating bone and other diseases. It is backed by BDC Capital, Fonds de solidarité FTQ, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
    Kirk Falconer
  • Brookfield’s PE group to sell up to $173 mln in Norbord shares August 3, 2017 3:57 pm
    The private equity group of Brookfield Asset Management has launched a bought deal secondary offering to sell common shares of Norbord Inc (TSX, NYSE: OSB), a Toronto-based manufacturer of wood-based panels. The offering will sell up to $172.9 million in shares, including its greenshoe option. With its completion, Brookfield's current stake in the company, roughly 53 percent, will drop to about 48.6 percent or lower if the greenshoe option is exercised. Two years ago, Norbord was combined with Vancouver's Ainsworth Lumber Co Ltd, another Brookfield-owned company. The merger deal was valued at $762.6 million.
    Kirk Falconer
  • Canaccord Genuity puts final touches to $30 mln SPAC July 25, 2017 9:01 pm
    Canaccord Genuity Acquisition Corp, a Canadian special purpose acquisition corporation (SPAC), has filed a final prospectus with most domestic regulators for an initial public offering of $30 million Class A restricted voting units. The proceeds will be used to acquire one or more businesses. The SPAC, which is sponsored by CG Investments, an affiliate of Canaccord Genuity Group Inc, will target a growth company with an enterprise value of between $50 million and $250 million for its qualifying acquisition.
    Kirk Falconer
  • CCMP-backed Jamieson Wellness raises $300 mln from IPO July 7, 2017 4:44 pm
    Vitamin and natural health products company Jamieson Wellness Inc (TSX: JWEL) has closed its initial public offering of common shares in Canada, raising more than $300 million. Of the total gross proceeds, about $55 million went to selling shareholders, including U.S. private equity firm CCMP Capital Advisors, which acquired the Windsor, Ontario-based company in 2014. Jamieson has also authorized a greenshoe option, which if fully exercised will provide CCMP with as much as $45 million in additional proceeds.
    Kirk Falconer
  • VC-backed Clementia seeks up to $150 mln from public debut July 7, 2017 3:57 pm
    Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has filed for an initial public offering in the United States, Reuters recently reported. The company is seeking as much as $150 million (US$115 million) from an offering of common shares on the Nasdaq Global Market. Founded in 2010, Clementia is developing treatments for patients suffering from debilitating bone and other diseases. It has raised north of US$90 million from venture capital investors, including BDC Capital, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
    Kirk Falconer
  • Canada’s IPO market posts best H1 result in five years: PwC July 4, 2017 6:51 pm
    Canada’s initial public offering (IPO) market continued to show signs of recovery in the second quarter of 2017, with six new TSX issues generating more than $2.3 billion in proceeds, according to a survey by PwC. Private equity- and venture-backed IPOs, including those of Real Matters Inc, Source Energy Services Ltd and STEP Energy Services Inc, contributed to the result. PwC said activity at the end of June, reflected in 16 IPOs accounting for $2.9 billion, marked the best first half in the past five years. Dean Braunsteiner, PwC's national IPO services leader, said demand for new issues has not yet been matched by supply.
    Kirk Falconer
  • Daniel Klass, Sagard among backers of $90 mln software SPAC July 4, 2017 6:18 pm
    Software Platform Partners Corp, a Canadian special purpose acquisition corporation (SPAC), has filed with domestic regulators for an initial public offering of $90 million Class A restricted voting units. The proceeds will be used to make one or more acquisitions that result in the creation of an enterprise software platform. The SPAC is sponsored by SPP Management LP, the principals of which are Daniel Klass, founder of Klass Capital, and Jill Denham, a former CIBC executive. Klass, Denham and Power Corp's Sagard Holdings ULC will buy about $41 million of Class B and forward purchase units to align the interests of founders with other investors.
    Kirk Falconer
  • CCMP’s Jamieson Wellness prices IPO to raise up to $345 mln June 29, 2017 11:17 pm
    Vitamin and natural health products company Jamieson Wellness Inc has filed a final prospectus with Canadian securities regulators for an initial public offering of common shares. As reported by PE Hub Canada this month, Jamieson plans to raise $300 million. The issue, which will include a secondary offering by certain investors, among them U.S. private equity firm CCMP Capital Advisors, is priced at $15.75 per unit. The Windsor, Ontario-based company also authorized a greenshoe option to raise up to $45 million. CCMP, which acquired Jamieson in 2014, will account for these additional proceeds if secured.
    Kirk Falconer
  • Canada Goose secondary to generate $298 mln for Bain, others June 28, 2017 9:20 pm
    Toronto luxury outdoor apparel maker Canada Goose Holdings Inc (NYSE/TSX: GOOS) has priced its previously announced secondary offering of subordinate voting shares at US$20.75 per unit. At this price the offering, which is being made by certain investors in the company, including U.S. private equity firm Bain Capital, will generate as much as US$298.3 million in proceeds. Bain, which acquired Canada Goose in 2013, will continue to hold a controlling interest following the sale, the prospectus said. Canada Goose raised $390 million from its initial pubic offering earlier this year.
    Kirk Falconer
  • Bain to sell more Canada Goose shares in secondary deal June 26, 2017 2:28 pm
    Canada Goose Holdings Inc (NYSE/TSX: GOOS), which went public in March, has commenced a proposed secondary offering of a minimum of 12.5 million subordinate voting shares. The shares will be offered and sold by certain investors in the company, including U.S. private equity firm Bain Capital. The deal has not yet been priced. Bain, which acquired Canada Goose in 2013, will continue to hold a controlling interest upon the offering's completion, the prospectus said. Canada Goose, a Toronto-based maker of luxury outdoor apparel, raised $390 million in gross proceeds from its initial public offering.
    Kirk Falconer
  • Cable operator Altice USA raises $1.9 bln in IPO: Reuters June 22, 2017 5:04 pm
    Altice USA Inc, the cable operator that Netherlands-based Altice NV formed by acquiring Cablevision and Suddenlink Communications, said on Wednesday it had raised US$1.9 billion in an initial public offering, Reuters reported. Altice USA priced 63.9 million shares at US$30, making it this year's second largest U.S. IPO and giving the company a market capitalization of approximately US$22 billion. Altice USA's parent will hold 70.3 percent of Altice USA's shares and 98.3 percent of the voting rights. London-based private equity firm BC Partners and Canada Pension Plan Investment Board, two pre-existing minority investors in Altice USA, will jointly own a minority stake in the company.
    Reuters News
  • CCMP’s Jamieson Wellness seeks $300 mln from IPO June 14, 2017 7:50 pm
    Jamieson Wellness, a vitamin and natural health products company, priced its recently filed initial public offering in Canada. The Windsor, Ontario, company plans to raise $300 million from an expected sale of common shares at $14 to $16 per unit, the updated prospectus shows. Founded in 1922, Jamieson was family-owned before being acquired by U.S. private equity firm CCMP Capital Advisors in 2014 for more than $300 million. The IPO will include a secondary sale by CCMP.
    Kirk Falconer
  • Altice IPO pricing values CPPIB-backed U.S. business at up to $22 bln: Reuters June 12, 2017 7:53 pm
    Altice USA, the cable operator that Netherlands-based Altice NV put together by acquiring Cablevision Systems Corp and Suddenlink Communications, will be valued at up to US$22 billion after its initial public offering on the New York Stock Exchange, Reuters reported. Of the projected US$1.6 billion in proceeds at the top end of the price range, Altice USA would receive US$374 million because about three quarters of the shares sold will be offered by London-based private equity firm BC Partners and fellow stakeholder Canadian Pension Plan Investment Board.
    Reuters News
  • ICICI Bank, Fairfax to pare stakes in ICICI Lombard IPO: Reuters June 5, 2017 6:00 pm
    India's ICICI Bank Ltd and Canada's Fairfax Financial Holdings Ltd will pare their stakes in joint venture insurer ICICI Lombard General Insurance Co Ltd's planned initial public offering of shares, Reuters reported. While the size and other details of the IPO will be decided at a future date, ICICI Lombard said the two shareholders had informed it of their intention to sell part of their holdings. Fairfax will own 22.1 percent of the insurer after its planned sale of a 12.2 percent stake in ICICI Lombard to an affiliate of Warburg Pincus and two other investors is completed.
    Reuters News
  • Venture-backed Zymeworks tops up IPO raise to $86 mln May 31, 2017 10:02 pm
    Zymeworks Inc (NYSE, TSX: ZYME) has raised additional proceeds from its initial public offering in Canada and the United States with the partial exercise of the over-allotment option. In total, the Vancouver biotherapeutics provider secured about $86 million (US$63.6 million). Zymeworks earlier said the proceeds will be used to further advance the company’s pipeline of product candidates and increase liquidity. Launched in 2003, Zymeworks is backed by multiple venture capital and strategic investors, including BDC Capital, Celgene, CTI Life Sciences Fund, Eli Lilly & Co and Lumira Capital.
    Kirk Falconer
  • CCMP-backed Jamieson Wellness files to go public in Canada May 26, 2017 9:21 pm
    Jamieson Wellness Inc, a Canadian vitamin and natural health products company, has filed a preliminary prospectus with domestic securities regulators for an initial public offering of common shares. The IPO, which has not yet been priced, is expected to include a secondary offering for certain shareholders, including U.S. private equity firm CCMP Capital Advisors, which acquired Jamieson in 2014 for more than $300 million. Reuters reported last year that CCMP was planning to sell the company. BMO Capital Markets and RBC Capital Markets are the IPO's joint bookrunners. Founded in 1922, Jamieson is headquartered in Windsor, Ontario.
    Kirk Falconer
  • Onex to see $418 mln in proceeds from Jeld-Wen secondary sale May 25, 2017 3:11 pm
    Jeld-Wen Holding Inc (NYSE: JELD) has priced a secondary offering of 14 million common shares by certain investors, including Canadian private equity firm Onex Corp. Onex, which invested in the company in 2011, said it expects to see about US$418 million in gross proceeds, not including proceeds generated via the offering's greenshoe option. The firm will continue to have an economic interest in Jeld-Wen of 47 percent. Jeld-Wen, a Charlotte, North Carolina-based maker of doors and windows, completed its initial public offering earlier in 2017. Onex recently launched fundraising for Onex Partners V at a US$6.5 billion target.
    Kirk Falconer
  • Alignvest Management upsizes second SPAC IPO to $350 million May 19, 2017 4:18 pm
    Alignvest Acquisition II Corp (AQY), a Canadian special purpose acquisition corporation (SPAC), has filed a final prospectus with most securities regulatory authorities in Canada for an initial public offering of class A restricted voting units. The filing included an adjustment in the IPO's target, from a prior $250 million to $350 million, which combined with permanent capital committed would give AQY about $460 million to invest. AQY is the second SPAC sponsored by Alignvest Management Corp, a Toronto alternative investment management firm. The first SPAC acquired Trilogy International Partners LLC earlier in 2017.
    Kirk Falconer
  • Lumira-backed G1 Therapeutics goes public with $105 mln issue May 17, 2017 5:56 pm
    U.S. clinical-stage oncology company G1 Therapeutics Inc priced its recently filed initial public offering to raise US$105 million, not including its greenshoe option. It began trading today on Nasdaq's Global Select Market under the symbol GTHX. Research Triangle Park, North Carolina-based G1 develops novel small-molecule therapies for the treatment of cancer. Since its founding in 2008, the company has raised nearly US$100 million in funding from several investors, including Canadian life sciences venture capital firm Lumira Capital.
    Kirk Falconer
  • Real Matters’ IPO raises $157 mln, values company at $1 bln-plus May 11, 2017 8:48 pm
    Toronto cloud real estate technology platform Real Matters Inc has closed its initial public offering, raising about $156.7 million for the company and selling shareholders. The offering’s greenshoe option may generate an additional $23.5 million. Real Matters, which began trading today on the Toronto Stock Exchange under the symbol REAL, achieved a valuation in excess of $1 billion, according to Whitecap Venture Partners, a Canadian venture capital firm and one of the company's earliest investors. Its other private investors include Kensington Venture Fund, Radar Capital and Wellington Financial.
    Kirk Falconer
  • Kinder Morgan to raise up to $1.3 bln in Canadian IPO: Reuters May 10, 2017 8:33 pm
    U.S. pipeline Kinder Morgan Inc's Canadian unit is seeking to raise up to $1.75 billion in an initial public offering in Toronto, Reuters reported, citing a regulatory filing. If successful, the deal would be one of Canada's top five IPOs and help fund the expansion of Kinder Morgan's Trans Mountain pipeline. Kinder Morgan expects the expansion project to cost about $7.4 billion. In the last few months, Kinder Morgan had been working on a dual-track process to explore an IPO or joint venture of its Canadian business. Kinder Morgan had held talks with major Canadian pension funds and private equity firms about raising funds for the project, Reuters previously reported.
    Reuters News
  • VC-backed Real Matters bumps up IPO pricing, seeks $157 mln May 5, 2017 9:10 pm
    Toronto-based real estate technology platform Real Matters Inc has filed its final prospectus for an initial public offering in Canada. The pricing of the IPO was adjusted to raise $156.7 million for the company and selling shareholders. The offering's greenshoe option may generate an additional $23.5 million. Real Matters is expected to list on the Toronto Stock Exchange under the symbol REAL on or about May 11th. Founded in 2004, the company has raised more than $200 million from a mix of public and private investors. The latter include Kensington Venture Fund, Radar Capital, Wellington Financial and Whitecap Venture Partners.
    Kirk Falconer
  • Zymeworks’ IPO raises $80 mln, greenshoe option to come May 3, 2017 4:58 pm
    Vancouver-based biotherapeutics provider Zymeworks Inc (NYSE, TSX: ZYME) has wrapped up its initial public offering in Canada and the United States, raising about $80 million (US$58.5 million). Zymeworks has granted underwriters an over-allotment option to purchase additional shares, which may bring the total to more than $110 million. The proceeds will be used to further advance the company's pipeline of product candidates and increase liquidity. Founded in 2003, Zymeworks is backed by multiple venture capital and strategic investors, including BDC Capital, Celgene, CTI Life Sciences Fund, Eli Lilly & Co and Lumira Capital.
    Kirk Falconer
  • ARC Financial’s STEP Energy wraps up IPO, raises $100 mln May 2, 2017 5:44 pm
    Calgary oilfield service company STEP Energy Services Inc has wrapped up its previously announced initial public offering, raising total proceeds of $100 million. As a result of the issue, the pricing of which was recently adjusted, STEP's common shares are now listed on the Toronto Stock Exchange under the symbol STEP. Based in Calgary, STEP has been backed by Canadian energy-focused private equity firm ARC Financial Corp since 2011. ARC is selling shares through the IPO's over-allotment option, which is expected to generate proceeds of up to $15 million.
    Kirk Falconer
  • Alignvest Management launches second SPAC IPO, seeks $250 mln May 2, 2017 3:28 pm
    Alignvest Acquisition II Corp (AQY), a Canadian special purpose acquisition corporation (SPAC), has filed a preliminary prospectus with most securities regulatory authorities in Canada for an initial public offering of $250 million of class A restricted voting units. AQY is the second SPAC sponsored by Alignvest Management Corp, a Toronto-based alternative investment management firm. The first SPAC, Alignvest Acquisition Corp, last year agreed to acquire Trilogy International Partners LLC, a provider of wireless communication services. The US$269 million deal closed in February, giving Trilogy a Toronto Stock Exchange listing.
    Kirk Falconer
  • Onex-owned Emerald Expositions prices IPO, secondary sale April 28, 2017 1:47 pm
    Emerald Expositions Events Inc, a U.S. operator of business-to-business trade shows, has announced the pricing of its recently filed initial public offering. The company, which expects to begin trading today on the New York Stock Exchange under the symbol EEX, is looking to raise as much as US$356.5 million from the IPO, according to a U.S. regulatory filing. The offering includes a secondary sale by Emerald backer Onex Corp, a Canadian private equity firm. Onex, which acquired Emerald in 2013, said it expects to see about US$85 million in proceeds. The investor continues to hold a 78 percent economic interest in the company.
    Kirk Falconer
  • Real Matters joins IPO parade, looks to raise up to $132 mln April 27, 2017 8:22 pm
    Real Matters, a real estate technology platform, has priced its recently filed initial public offering in Canada. The Toronto company, backed by a mix of private and public investors, expects to raise as much as $132 million from a sale of common shares at $12 to $13 per unit, according to the updated prospectus. Earlier this week, Bloomberg said Real Matters is seeking a $1.1 billion valuation with the issue. That’s well up from the $653 million value reported for the business a year ago.
    Kirk Falconer
  • ARC Financial-backed STEP Energy adjusts IPO to raise $100 mln April 26, 2017 2:14 pm
    Calgary oilfield service company STEP Energy Services Inc has revised its recently filed initial public offering. STEP, backed by Canadian energy private equity firm ARC Financial Corp, said it will sell 10 million common shares at $10 per unit, generating about $100 million in proceeds. That amount may increase to $115 million if a greenshoe option is exercised. STEP originally priced the offering to raise as much as $230 million. ARC, which invested in the company in 2011, will sell shares as part of the IPO. Upon its completion, ARC will remain STEP's majority shareholder, the final prospectus shows. STEP provides coiled tubing and fracturing solutions.
    Kirk Falconer
  • Zymeworks targets $110 mln in Canada’s first VC-backed IPO in two years April 21, 2017 7:36 pm
    Zymeworks, a Vancouver biotherapeutics provider, has set the terms of its recently filed initial public offering in Canada and the United States. The event marks Canada’s first venture-backed IPO in two years. Zymeworks, backed by multiple VC and strategic investors, plans to raise as much as $110 million (US$82.8 million) from a sale of as many as 5.2 million common shares at US$13 to US$16 per unit, according to the updated prospectus. As a private company, Zymeworks has secured nearly US$150 million from investors, including the US$61.5 million raised in its Series A mezzanine financing last year.
    Kirk Falconer
  • Advent-owned BOS Solutions seeks up to $104 mln in public debut April 19, 2017 4:59 pm
    BOS Solutions Holdings, a provider of liquids-solids-separation services, priced its recently filed initial public offering. It is the latest in a series of private equity and venture-backed issues that are helping rally Canada’s IPO market. Calgary’s BOS, owned by Advent International, plans to raise as much as $104 million from the sale of common shares at $11 to $14 per unit, the updated prospectus shows. Advent, which acquired BOS in 2010, will sell some shares via the IPO's greenshoe option. Upon its completion, Advent will remain the majority investor. BOS is the eighth Canadian PE- or VC-backed company to announce or complete a public sale since January.
    Kirk Falconer
  • Venture-backed Real Matters files for IPO, secondary sale in Canada April 11, 2017 5:26 pm
    Toronto-based cloud real estate technology platform Real Matters Inc has filed a preliminary prospectus with regulatory authorities in Canada for an initial public offering. The IPO, which has not yet been priced, will include a secondary offering by certain shareholders. The lead underwriters and joint bookrunners are BMO Capital Markets and INFOR Financial Inc, which ran Real Matters' $100 million financing last year. Led by President and CEO Jason Smith, Real Matters has raised over $200 million from a mix of public and private investors, including Whitecap Venture Partners, Wellington Financial and Radar Capital.
    Kirk Falconer
  • TriWest Capital-backed Source Energy revises IPO to raise $175 mln April 6, 2017 11:06 pm
    Source Energy Services, a proppant-sourcing and oilfield-logistics company, revised its recently filed initial public offering to raise $175 million. Source, backed by Canadian private equity firm TriWest Capital Partners, updated its prospectus to sell common shares at $10.50 apiece, down from a prior range of $17 to $20 per unit. The repriced IPO is expected to raise more than $200 million, once its greenshoe option is exercised, and value the Calgary company at more than $500 million.
    Kirk Falconer
  • Venture-backed Zymeworks files for Canadian and U.S. IPO April 3, 2017 12:51 pm
    Vancouver-based biotherapeutics company Zymeworks Inc has filed with Canadian and U.S. regulatory authorities for an initial public offering of its common shares. The IPO, which will give the company a listing on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “ZYME”, has not been officially priced; however, the U.S. Securities and Exchange Commission notes a proposed offering size of as much as $100 million (US$75 million). Last year, Zymeworks closed one of Canada's largest venture capital rounds, raising about $87 million (US$61.5 million). It was led by BDC Capital and Lumira Capital and joined by multiple other investors.
    Kirk Falconer
  • Bain Capital’s Canada Goose wraps up IPO, raises $390 mln March 22, 2017 3:11 pm
    Canada Goose Holdings Inc (TSX, NYSE: GOOS), a portfolio company of Bain Capital, has closed its initial public offering in Canada and the United States. Canada Goose raised about $390 million in gross proceeds, which includes the full exercise of an over-allotment purchase option granted to underwriters. Announced earlier this year, the IPO included a secondary sale by Bain. With its close, the U.S. private equity firm remains the company's majority shareholder. Toronto-based Canada Goose is a designer and maker of luxury outdoor apparel. The public sale reportedly valued it at about $1.8 billion.
    Kirk Falconer
  • TriWest Capital-backed Source Energy postpones IPO March 22, 2017 1:37 pm
    Source Energy Services Ltd, a provider of frac sand and logistical services to the oil and gas industry, has postponed its initial public offering on the Toronto Stock Exchange. Source, which recently priced the IPO to raise $300 million, said the delay was a result of "current adverse capital market conditions." Calgary-based Source has been backed by Canadian private equity firm TriWest Capital Partners since 2013. Earlier this month, Bloomberg reported STEP Energy Services Ltd, a Calgary oilfield service provider backed by ARC Financial Corp, had also postponed its IPO.
    Kirk Falconer
  • Parka maker Canada Goose’s shares soar in market debut: Reuters March 16, 2017 5:12 pm
    Canada Goose Holdings shares surged 40 percent in their trading debut on Thursday after the high-end parka manufacturer raised $340 million in an initial public offering, Reuters reported. The maker of $900 parkas priced the offer above the marketing range on Wednesday, underscoring strong investor appetite for a brand that celebrities have made popular. Founded in a small Toronto warehouse 60 years ago, Canada Goose was acquired by U.S. private equity firm Bain Capital in 2013. The IPO valued the company at about $1.8 billion.
    Reuters News
  • Bain Capital’s Canada Goose prices IPO at $17 per share: Reuters March 16, 2017 12:55 pm
    Retailer Canada Goose Holdings Inc said on Wednesday it has priced its initial public offering at $17 (US$12.78) per share, above its target range. The issue will raise $340 million. The maker of luxury winter down jackets had earlier expected to price the offering of 20 million shares at $14 to $16 per share. Canada Goose, which started in a small warehouse in 1957, sold a majority stake in 2013 to Bain Capital LLC, for an undisclosed amount.
    Reuters News
  • Advent International-backed BOS Solutions files to go public March 14, 2017 4:46 pm
    BOS Solutions Holdings Inc, a Calgary provider of solids and liquid waste separation solutions, has filed with Canadian securities commissions for an initial public offering of its common shares. The IPO, which has not yet been priced, will include a secondary offering by Advent International, a U.S. private equity firm. Advent acquired the company in October 2010. CIBC Capital Markets and BMO Capital Markets are the offering's lead underwriters. Founded in 2002, BOS primarily serves the North American oil and gas industry. It is the fifth Canadian private equity-backed company to announce or close an IPO so far this year.
    Kirk Falconer
  • TriWest Capital-backed Source Energy prices IPO to raise $300 mln March 3, 2017 4:51 pm
    Source Energy Services, a proppant-sourcing and oilfield-logistics company, is seeking to raise $300 million from its recently filed initial public offering, according to the company's updated prospectus. Source, backed by Canadian private equity firm TriWest Capital Partners, said it will price as many as 17.6 million common shares at $17 to $20 per unit. If the IPO's greenshoe option is exercised, it could raise as much as $345 million. The lion's share of the offering’s proceeds will go to Source. It will include a secondary sale by TriWest, which invested in Source in 2013, and other shareholders.
    Kirk Falconer
  • Venture-backed Opsens graduates to Toronto Stock Exchange March 2, 2017 8:55 pm
    Opsens Inc commenced trading this week on the Toronto Stock Exchange under the symbol "OPS". The company's graduation from the TSX Venture Exchange was preceded by a $14.9 million equity financing in December. Founded in 2003, Québec City-based Opsens is a developer of technology that is mainly focused on the measure of fractional flow reserve in interventional cardiology. It is a portfolio company of Canadian life sciences venture capital firm Lumira Capital and other investors.
    Kirk Falconer
  • Bain Capital’s Canada Goose shoots for $320 mln from public sale March 2, 2017 2:41 am
    Canada Goose, a designer and maker of luxury outdoor apparel, priced its recently filed initial public offering in Canada and the United States. The company plans to raise as much as $320 million from a sale of 20 million subordinate voting shares at $14 to $16 per unit, according to the updated prospectus. Founded in 1957 in a small Toronto warehouse, Canada Goose has been owned by U.S. private equity firm Bain Capital since 2013. The IPO will include a secondary sale by Bain.
    Kirk Falconer
  • ARC Financial-backed STEP Energy seeks $200 mln from IPO February 28, 2017 5:09 pm
    STEP Energy Services, a Calgary oilfield service company, has priced its recently filed initial public offering. STEP, backed by Canadian energy private equity firm ARC Financial Corp, said in an updated prospectus it planned to sell common shares at $14 to $16 per unit, generating about $200 million in proceeds. That amount may increase to $230 million if a greenshoe option is exercised. More than half the offering's proceeds will go to selling shareholders, including ARC, which holds a controlling stake in the company.
    Kirk Falconer
  • Bain Capital-owned Canada Goose files for initial public offering February 15, 2017 11:10 pm
    Canada Goose Inc, a Toronto designer and maker of outdoor luxury apparel, has filed for an initial public offering of its subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange, according to a report by Reuters. The company has priced the offering at US$100 million, Reuters said, citing an Securities Exchange Commission filing. Established in 1957, Canada Goose was acquired by U.S. private equity firm Bain Capital in December 2013. The IPO will include a secondary sale by Bain, according to the company's preliminary prospectus, that will leave it with majority control.
    Kirk Falconer
  • TriWest Capital-backed Source Energy Services files to go public February 14, 2017 2:13 pm
    Source Energy Services Ltd, a Calgary proppant sourcing and oilfield logistics company, has filed with most Canadian securities commissions for an initial public offering of its common shares. The IPO, which has not yet been priced, will run concurrently with a secondary offering by Canadian private equity firm TriWest Capital Partners, the company's backer since 2013, and other shareholders. Source Energy, which operates from locations across Western Canada and in United States, may seek a $1 billion valuation in a listing, Bloomberg recently reported. Last week, STEP Energy Services Ltd, an oilfield service provider backed by ARC Financial Corp, also filed to go public.
    Kirk Falconer
  • ARC Financial-backed STEP Energy files for initial public offering February 10, 2017 4:33 pm
    Calgary oilfield service company STEP Energy Services Ltd has filed with most Canadian securities commissions for an initial public offering of its common shares. The offering, which has not yet been priced, will include a secondary sale on behalf of certain investors, including Canadian energy private equity firm ARC Financial Corp, the company's prospectus said. STEP, a provider of coiled tubing and fracturing solutions, was founded in 2011 with a $75 million investment from ARC. Last year, the company bought the assets of energy service provider Sanjel Corp, which was then under court protection from creditors.
    Kirk Falconer
  • TriWest Capital’s Source Energy Services mulls IPO: Bloomberg February 9, 2017 3:53 pm
    Source Energy Services, a Calgary-based specialist in proppant sourcing and oilfield logistics, is weighing an initial public offering, a Bloomberg report said. A public sale could value the company for as much as $1 billion, the report said. Source Energy is a portfolio company of Canadian private equity firm TriWest Capital Partners. TriWest made an undisclosed investment in the business in late 2013.
    Kirk Falconer
  • TMX seeks part of Saudi Aramco listing: Reuters February 8, 2017 9:28 pm
    Toronto Stock Exchange owner TMX Group Ltd said it was pitching the energy-rich bourse to "Saudi officials of significant influence" to bring at least part of the kingdom's massive Saudi Aramco public listing to Canada, Reuters reported. Saudi Arabia expects to value the state-owned oil producer at a minimum of US$2 trillion, in what could be the world's biggest initial public offering. Canada's biggest pension funds, such as the Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan and Caisse de dépôt et placement du Québec, could be among potential investors in the IPO. However, they would only participate if convinced of the long-term investment case, pension experts say.
    Reuters News
  • Freshii commences TSX trading with close of $125 mln IPO January 31, 2017 5:57 pm
    Freshii Inc, a Toronto-based healthy fast-food restaurant chain, has closed its initial public offering and secondary offering of 10.9 million subordinate voting shares, raising gross proceeds of $125.35 million. Freshii and its selling shareholders, including Canadian growth equity firm Klass Capital, received $50.1 million and $75.2 million, respectively. With the close, the company began trading on the Toronto Stock Exchange (TSX) under the symbol "FRII". Freshii may raise an additional $18.8 million via an over-allotment option granted to underwriters.
    Kirk Falconer
  • Onex-backed door-and-window maker Jeld-Wen prices IPO January 27, 2017 3:44 pm
    Jeld-Wen Holding Inc has priced its initial public offering (IPO) of 25 million common shares at US$23 per share. The IPO, filed last year, will generate about US$575 million in proceeds, according to Renaissance Capital, and result in the company listing its shares on the New York Stock Exchange under the symbol “JELD.” Canadian private equity firm Onex Corp, which bought into Jeld-Wen in October 2011, will share in the proceeds. Onex reports making an equity investment of US$985 million in Jeld-Wen, a Charlotte, North Carolina-based manufacturer of doors and windows.
    Kirk Falconer
  • Real Matters to go public as early as February: Reuters January 26, 2017 10:10 pm
    Real Matters, a Canadian provider of real estate industry services, is looking to raise about $150 million in an initial public offering that could come as early as next month, sources told Reuters. The IPO is expected to value the company at about $1 billion. The company's investors include Canadian venture capital firm Whitecap Venture Partners, Canadian specialty finance firm Wellington Financial, and Urbana Corp, according to startup data provider CrunchBase and public documents.
    Reuters News
  • Fast-food chain Freshii seeks $125.3 mln from IPO, secondary sale January 25, 2017 10:11 pm
    Freshii Inc has filed a final prospectus with Canadian regulatory authorities for an initial public offering and secondary offering of 10.9 million Class A subordinate voting shares. The Toronto company priced the offerings at $11.50 per share for total gross proceeds of $125.35 million. An additional $18.8 million may be raised via an over-allotment option granted to underwriters. Founded in 2005 by CEO Matthew Corrin, Freshii operates a healthy fast-food restaurant chain that today includes more than 244 stores located in 15 countries. It is backed by Canadian growth equity firm Klass Capital.
    Kirk Falconer
  • Berkshire Partners, other investors to sell more Aritzia shares January 12, 2017 8:02 pm
    Vancouver women’s fashion retailer Aritzia Inc (TSX: ATZ), which went public last year, announced that Berkshire Partners and other investors will sell additional shares in the company for $17.45 per share. The secondary deal will generate gross proceeds of up to $403 million. With the close of the initial $351 million offering and another trade, Berkshire will own about 28.7 percent of Aritzia's issued and outstanding subordinate voting shares and multiple voting shares and about 51.1 percent of the related voting power. Berkshire, a U.S. private equity firm, acquired Aritzia in 2005.
    Kirk Falconer
  • Struggling upscale U.S. retailer Neiman Marcus pulls IPO: Reuters January 6, 2017 9:25 pm
    Neiman Marcus Group LLC said on Friday it would withdraw its initial public offering, nearly two years after the upscale department store chain filed its intent with U.S. regulators to go public, as it grapples with weaker customer demand, Reuters reported. Neiman Marcus, which also operates the Bergdorf Goodman and MyTheresa brands, was acquired by U.S. private equity firm Ares Management LP and Canada Pension Plan Investment Board three years ago for US$6 billion. The Dallas-based company filed to go public in August 2015.
    Reuters News
  • Aritzia’s IPO among few highlights in 2016’s “dismal” market: PwC January 3, 2017 7:49 pm
    Canada's initial public offering (IPO) market turned in a "dismal" performance in 2016, according to a survey by PwC. October's $400 million offering by women’s fashion retailer Aritzia Inc, a portfolio company of Berkshire Partners, was one of only three new issues on the TSX last year and one of only eight new issues on all domestic exchanges, the survey found. Two other small TSX issues in 2016's final months brought the quarterly and annual tally for Canada's senior exchange to $464 million. PwC said 2016 was the worst year for Canadian IPOs in the nearly two-decade history of its survey, falling below the previous low-water mark set in 2008.
    Kirk Falconer
  • Healthy fast-food chain Freshii files for IPO, secondary offering December 20, 2016 8:25 pm
    Freshii Inc has filed a preliminary prospectus with Canadian regulatory authorities for a proposed initial public offering and secondary offering of its Class A subordinate voting shares. No terms were released; however, Bloomberg reported the company is seeking about $100 million. Certain shareholders, including a vehicle controlled by Matthew Corrin, Freshii’s founder, chairman and CEO, will participate in the secondary deal. Freshii has since 2005 operated a healthy fast-food restaurant chain that today includes more than 244 stores located in 15 countries. It is backed by Canadian venture capital firm Klass Capital.
    Kirk Falconer
  • PE-backed annuity service provider Athene jumps in IPO debut: Reuters December 9, 2016 7:16 pm
    Shares of Athene Holding Ltd (ATH.N) jumped as much as 9.2 percent in their debut on Friday, valuing the fixed annuity service provider at about US$8.25 billion in the year's largest financial IPO, Reuters reported. The offering raised about US$1.08 billion, all for selling shareholders. Bermuda-based Athene's backers include U.S. private equity firm Apollo Global Management, Ontario Teachers’ Pension Plan, and Procific, a unit of the Abu Dhabi Investment Authority.
    Reuters News
  • Altice considers listing its CPPIB-backed U.S. subsidiary: Reuters December 8, 2016 8:02 pm
    Altice NV, the fourth-biggest cable operator in the United States, said on Thursday it was considering an initial public offering of a minority interest in its U.S. subsidiary Altice USA, Reuters reported. A listing would help Altice's founder, French billionaire Patrick Drahi, expand his budding U.S. cable empire by giving Altice USA public stock that could be used as currency to finance more acquisitions. It would also allow investors, including U.K. private equity firm BC Partners and Canada Pension Plan Investment Board, to cash out in the future.
    Reuters News
  • Ontario Teachers’-backed Athene Holding launches IPO on NYSE November 28, 2016 8:28 pm
    Bermuda-based retirement services company Athene Holding Ltd has launched an initial public offering of its Class A common shares on the New York Stock Exchange. The shares are expected to be priced at between US$38 and US$42 apiece. At the upper end of its pricing range, the offering would raise US$997.5 million and value the company at about US$7.8 billion, Bloomberg reported. Athene, one of the largest fixed annuity companies in the United States, is backed by Apollo Global Management and Ontario Teachers' Pension Plan, among other investors.
    Kirk Falconer
  • Intel-backed Mark One to gain TSX-V listing via Anchor merger November 23, 2016 8:36 pm
    Canadian capital pool company Anchor Capital Corp (TSX-V: ANC.P) has agreed to combine with Mark One Lifestyle Inc, a San Francisco-based maker of internet-connected lifestyle devices that track food and beverage consumption. The deal, which is expected to include a private placement financing that generates gross proceeds of $10 million to $15 million, will see Anchor renamed Mark One Lifestyle Corp. Founded in Kingston, Ontario in 2007, Mark One has received funding from several venture capital firms, including Intel Capital Corp, Horizons Ventures and Felicis Ventures. Intel led the company's US$4 million seed round earlier in 2016.
    Kirk Falconer
  • CPPIB-backed Altice USA draws up plans for IPO: Reuters October 21, 2016 4:04 pm
    Altice USA, the cable operator that Netherlands-based Altice NV put together by acquiring Cablevision and Suddenlink Communications, is drawing up plans for a potential initial public offering, sources told Reuters. The move would allow Altice's founder, French billionaire Patrick Drahi, to expand his budding U.S. cable empire by giving Altice USA public stock it can use to help finance more acquisitions. Taking Altice USA public would also allow investors BC Partners and Canada Pension Plan Investment Board to cash out in the future.
    Reuters News
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