• 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
  • Winter jacket maker Canada Goose prepares for IPO: Reuters October 10, 2016 2:17 pm
    Canada Goose Inc, a maker of luxury winter down jackets, is interviewing banks to help prepare for an initial public offering (IPO) that could value the company at as much as US$2 billion, sources told Reuters. An IPO of Toronto-based Canada Goose would demonstrate the explosive growth the company has experienced, following its transition from selling jackets primarily to adventurers on expeditions to shoppers in more than 50 countries. Canada Goose sold a majority stake in 2013 to U.S. private equity firm Bain Capital for an undisclosed amount, to help meet its growth ambitions.
    Reuters News
  • Berkshire-backed Aritzia wraps up IPO, raises $400 mln October 4, 2016 1:45 pm
    Canadian women’s fashion retailer Aritzia Inc (TSX: ATZ), a portfolio company of U.S. private equity firm Berkshire Partners, has completed its initial public offering (IPO). Aritzia sold 25 million subordinate voting shares, raising total gross proceeds of $400 million. An additional $60 million may be raised if an over-allotment option granted to underwriters is exercised. The IPO's proceeds will go to selling shareholders, including Berkshire, which acquired Vancouver-based Aritzia in late 2005.
    Kirk Falconer
  • Berkshire-backed Aritzia prices IPO at top of range, to raise $400 mln September 27, 2016 2:34 pm
    Vancouver-based women’s apparel retailer Aritzia Inc has filed a final prospectus with Canadian securities regulatory authorities for a secondary offering of subordinate voting shares. As expected, the shares will be sold by Brian Hill, the company's founder and CEO, and Berkshire Partners, a U.S. private equity firm. Priced at a top range of $16 per share, the offering is expected to generate gross proceeds of $400 million, or higher if an over-allotment option is exercised. The pricing gives Aritzia a market capitalization of $1.87 billion, Reuters reported. Berkshire acquired a majority stake in the company in late 2005.
    Kirk Falconer
  • Waste collector Advance Disposal seeks to raise $404 mln in IPO: Reuters September 26, 2016 7:55 pm
    Waste collection company Advance Disposal Services Inc said it expects to raise as much as US$404.3 million in its initial public offering, valuing the company at about US$1.76 billion, Reuters  reported. The Ponte Vedra, Florida-based company is the fifth-largest solid waste services provider in the United States. Canada Pension Plan Investment Board (CPPIB) invested US$280 million in the parent company of Advanced Disposal Services last month. It is majority-owned by Highstar Capital.
    Reuters News
  • Berkshire-backed Aritzia seeks to raise $285 mln from IPO September 7, 2016 10:04 pm
    Canadian women's apparel retailer Aritzia Inc is looking to raise about $285 million from its initial public offering, according to a SEDAR filing. Aritzia, a portfolio company of U.S. private equity firm Berkshire Partners, filed to go public in August. Earlier this month, it amended its prospectus to specify plans to sell 20 million subordinate voting shares for $14 to $16 apiece. Assuming the exercise of the IPO's over-allotment option, total proceeds may exceed $327 million. The Vancouver-based company indicated that all of the proceeds will go to selling shareholders, including Berkshire.
    Kirk Falconer
  • Bessemer among selling investors in Shopify’s $287 mln offering August 18, 2016 5:37 pm
    Canadian e-commerce and retail software company Shopify Inc (NYSE: SHOP) (TSX: SH) has launched an offering of Class A subordinate voting shares. Priced at about US$286.9 million in total, the offering includes shares to be sold by U.S. venture capital firm Bessemer Venture Partners and members of Shopify’s management team. The offering is expected to close on or about August 22nd. Bessemer is among a group of Canadian and U.S. investors that financed Ottawa-based Shopify prior to the company's initial public offering in May 2015.
    Kirk Falconer
  • Berkshire-backed retailer Aritzia files for initial public offering August 18, 2016 1:58 pm
    Aritzia Inc, a retailer of women’s apparel and accessories, has filed with securities regulatory authorities across Canada for an initial public offering of subordinate voting shares. No financial terms were disclosed. The transaction contemplates a secondary offering of shares held by Brian Hill, Aritzia's founder and CEO, and by U.S. private equity firm Berkshire Partners, which acquired a controlling stake in the company in December 2005. CIBC World Markets Inc, Merrill Lynch Canada Inc and TD Securities Inc are leading the sale. Based in Vancouver, Aritzia was established in 1984 and today has more than 75 locations in cities across Canada and the United States.
    Kirk Falconer
  • Portland Private Equity affiliate oversubscribes Jamaican IPO June 27, 2016 2:21 pm
    An affiliate of Portland Private Equity, a firm led by Canadian billionaire Michael Lee-Chin, has raised J$1.23 billion in an initial public offering on the Jamaica Stock Exchange. Portland JSX Ltd's IPO was oversubscribed by 23.5 percent, making it the largest of ordinary shares ever on the exchange, Portland said. Portland JSX is an investment holding company that invests in businesses in the Caribbean and Latin America, primarily via Portland Caribbean Fund II, Portland's second private equity fund. PE Hub Canada interviewed Lee-Chin in March 2015 about Portland's exit from Columbus International.
    Kirk Falconer
  • Caisse de dépôt buys Stingray shares sold by Telesystem June 21, 2016 6:10 pm
    Caisse de dépôt et placement du Québec has invested an additional $14.3 million in Stingray Digital Group Inc, a Canadian multi-platform music and in-store media solutions provider. The deal was in part a repurchase of shares sold by Telesystem Ltd. Telesystem, a long-time backer of Stingray, previously announced it generated about $30.8 million in proceeds from a secondary offering. Montréal-based Stingray raised nearly $180 million in an initial public offering last year. It continues be a portfolio company of Canadian private equity firm Novacap and other investors.
    Kirk Falconer
  • Brookfield Business Partners begins trading on TSX, NYSE June 20, 2016 5:09 pm
    Brookfield Asset Management has completed the spin-off of Brookfield Business Partners LP (BBU), a listed vehicle that allows shareholders to invest directly in the Toronto-based firm's private equity portfolio. The spin-off, accomplished by a special US$500 million distribution, resulted in BBU's initial trading today on the Toronto Stock Exchange and the New York Stock Exchange under the symbols BBU.UN and BBU, respectively. Shareholders now own a 22 percent interest in the vehicle, with Brookfield holding the balance. As reported earlier this month by PE Hub Canada, Brookfield recently closed its fourth private equity fund at US$4 billion.
    Kirk Falconer
  • Kew Media’s $70 mln IPO creates Canada’s latest SPAC June 13, 2016 8:57 pm
    Kew Media Group Inc has closed its initial public offering of Class A restricted voting units at $70 million. The offering, the size of which may increase via an over-allotment option granted to underwriters, will create a special purpose acquisition corporation (SPAC). Toronto-based Kew Media intends the SPAC to focus on one or more acquisitions of small-to-medium sized media production, distribution and talent management opportunities in North America and the United Kingdom. Torys Partner John Emanoilidis wrote about the recent rise of SPACs in Canada in a PE Hub Canada feature article published in December.
    Kirk Falconer
  • Real Matters to raise at least $100 mln in fall IPO: Reuters June 3, 2016 6:39 pm
    Real Matters, a Canadian provider of real estate industry data, is looking to raise at least $100 million in an initial public offering this fall that could value the company at close to $1 billion, sources told Reuters. The Markham, Ontario-based company could raise as much as $200 million, but a decision will be made closer to the listing date, likely in September or October, the sources said. The move comes after Real Matters in April raised $100 million in equity through a private placement. The investors in that round included Canadian venture capital firm Whitecap Venture Partners.
    Reuters News
  • Mainstreet Health plans senior housing deals after Canadian listing: Reuters June 2, 2016 8:11 pm
    Mainstreet Health Investments Inc is looking to spend hundreds of millions of dollars to acquire senior housing and care properties in Canada and the United States after tapping the Canadian equity market, a top executive told Reuters. The company, which owns a portfolio of U.S. seniors housing and care properties, on Thursday raised about US$95 million and listed on the Toronto Stock Exchange. U.S. hedge fund Magnetar Financial owns about half of Mainstreet Health.
    Reuters News
  • Onex-backed building products maker Jeld-Wen files for IPO: Reuters June 2, 2016 4:44 pm
    Jeld-Wen Holding Inc, a maker of doors and windows, filed with U.S. regulators on Wednesday to raise up to US$100 million in an initial public offering of its common stock, Reuters reported. The final size of the IPO could be different. The Charlotte, North Carolina-based company has been backed by Canadian private equity firm Onex Corp since October 2011. Onex currently has an 83 percent ownership interest in Jeld-Wen.
    Reuters News
  • Spin-off of Brookfield Business Partners to occur on June 20 May 16, 2016 1:59 pm
    Toronto-based alternative assets manager Brookfield Asset Management said the spin-off and listing of its private equity investment arm, Brookfield Business Partners LP (BBP), will occur on June 20, 2016. The spin-off of BBP, first announced in October 2015, will be accomplished through a special distribution to shareholders valued at about US$0.50 per Brookfield share, or about US$500 million in total. Cyrus Madon, CEO of BBP and a senior managing partner of Brookfield, said the spin-off will give public-market investors exposure to growth opportunities and assets within Brookfield's private equity group. Brookfield is expected to retain about 78 percent of the vehicle's total equity interest.
    Kirk Falconer
  • Newly created Aralez Pharmaceuticals opens TSX April 7, 2016 9:37 pm
    Aralez Pharmaceuticals Inc (TSX: ARZ), launched in February with a investment led by Deerfield Management, opened the market on April 5th. Aralez, an Ontario domiciled pharmaceutical business focused on developing products for cardiovascular, pain and other specialty areas, emerged from a merger of POZEN Inc and Tribute Pharmaceuticals Canada Inc. The Deerfield-led consortium committed up to US$350 million to the new company.
    Kirk Falconer
  • Ontario Teachers to sell equity interest in Denmark’s ISS March 15, 2016 5:44 pm
    ISS A/S (ISS.CO, ISS DC) has been notified by Ontario Teachers’ Pension Plan of the latter's decision to sell its shares in the company. Ontario Teachers, which invested in ISS in August 2012, will no longer hold any of its shares following the sale. Copenhagen, Denmark-based ISS, a provider of integrated facility services, went public two years ago. It was previously majority-owned by EQT Partners and Goldman Sachs Capital Partners.
    Kirk Falconer
  • Catalyst-owned Therapure delays IPO citing market conditions February 4, 2016 10:31 pm
    Therapure Biopharma Inc, a Canadian biopharmaceutical company owned by Catalyst Capital Group, has decided to postpone its proposed initial public offering. The company said that while it has been "performing above expectations", and meeting positive investor feedback, the current market environment is not conducive to a public sale at this time. As reported by PE Hub Canada last month, Therapure was seeking $130 million from its IPO, which included a secondary offering by Catalyst. GMP Securities' Steve Ottaway said his firm, one of the IPO's joint bookrunners, will continue to work with Catalyst and Therapure "to evaluate capital market conditions."
    Kirk Falconer
  • Therapure seeks $130 mln in this year’s first Canadian PE-backed IPO January 20, 2016 3:15 pm
    Therapure Biopharma, a Canadian biopharmaceutical company owned by Catalyst Capital Group, has set the terms of its previously announced initial public offering. Therapure is seeking about $130 million, according to an IPO prospectus amended earlier this month. The offering includes a secondary sale by Catalyst.
    Kirk Falconer
  • China’s Postal Savings Bank sets $15 bln IPO in motion: Reuters January 19, 2016 6:12 pm
    Postal Savings Bank of China (PSBC) has invited investment banks to pitch for a Hong Kong IPO worth up to US$15 billion, a source told Reuters, setting the ball rolling for what is likely to be the world's biggest listing this year. The move follows PSBC's raise in December of US$7 billion from a group of private investors, including Canada Pension Plan Investment Board.
  • PE-backed Sleep Country wraps up $185 mln secondary deal December 17, 2015 7:41 pm
    Toronto-based specialty mattress retailer Sleep Country Canada Holdings Inc (TSX: ZZZ) has closed its previously-announced secondary offering of common shares. As a result of the deal, selling shareholders, which include Canadian private equity firm Birch Hill Equity Partners, obtained gross proceeds of $185 million. With the offering's close, the selling shareholders now hold about 18.9 percent of the company's total ownership interest. Sleep Country, acquired by Birch Hill and other investors in 2008, went public earlier this year.
  • The clock is ticking for Canadian SPACs December 16, 2015 4:54 pm
    Special purpose acquisition companies, or SPACs, have recently broken ground in Canadian IPO markets, raising close to $1 billion. Torys' Partners John Emanoilidis, Rima Ramchandani and Mile Kurta discuss the opportunities presented by Canadian SPACs, and the challenge they face in sourcing and closing a quality acquisition in a tight timeline.
    John Emanoilidis
  • CPPIB invests $500 mln in pre-IPO Postal Savings Bank of China December 9, 2015 6:09 pm
    Canada Pension Plan Investment Board (CPPIB) has invested RMB 3.2 billion (US$500 million) in Postal Savings Bank of China (PSBC). The investment formed part of a US$7 billion raise by PSBC from a group of investors in advance of its initial public offering, expected next year. With the deal, which reportedly values PSBC at about US$41.5 billion, CPPIB and nine other investors, including JPMorgan, Temasek, Tencent and UBS, have taken a 17 percent interest in the bank. Founded in 2007, Beijing-based PSBC is a retail financial institution with more than 400 million customers and nearly 40,000 branches.
  • Avista, Ontario Teachers to relinquish control of INC Research December 2, 2015 3:13 pm
    INC Research Holdings Inc (Nasdaq: INCR), which went public in 2014, announced that Avista Capital Partners and Ontario Teachers’ Pension Plan intend to sell 6 million shares of the company's Class A common stock in a secondary deal. INC Research also agreed to repurchase about 3 million shares in a private transaction. As a result, Avista and Ontario Teachers will own less than 50 percent of total voting power. Raleigh, North Carolina-based INC Research, a clinical research organization that provides services to biopharmaceutical and medical device industries, was acquired by Avista and Ontario Teachers in 2010.
  • Sleep Country investors to raise $185 mln from secondary sale December 1, 2015 2:42 pm
    Sleep Country Canada Holdings Inc (TSX: ZZZ), which tied up an initial public offering earlier this year, has launched a secondary share offering. The offering, priced at $18.50 per share, will generate at least $185 million in gross proceeds for selling shareholders, which include Canadian private equity firm Birch Hill Equity Partners. Following the offering's close, expected on or about December 17, selling investors will hold an ownership interest in the company of about 18.9 percent or less. Sleep Country, a Toronto-based specialty mattress retailer, was taken private by Birch Hill, Westerkirk Capital and other investors in 2008.
  • Catalyst-backed Therapure Biopharma files to go public November 27, 2015 6:46 pm
    Therapure Biopharma Inc, a portfolio company of Canadian private equity firm Catalyst Capital Group, has filed a preliminary prospectus with Canadian securities regulatory authorities for an initial public offering. The offering has not yet been priced, however, Bloomberg reported the company is seeking to raise at least $100 million. GMP Securities, CIBC World Markets and National Bank Financial are underwriting the sale. Based in Mississauga, Ontario, Therapure is a biopharmaceutical company focused on the development, manufacture, purification, and packaging of rare and complex biotherapeutics.
  • Johnson Electric completes $800 mln buy of PE-owned Stackpole October 29, 2015 4:23 pm
    Hong Kong’s Johnson Electric Holdings Ltd has completed its acquisition of Stackpole International, a Canadian supplier of engine and transmission pumps and powder metal components, primarily for automotive applications. The all-cash transaction valued Stackpole at $800 million. Stackpole, which will remain based in Ancaster, Ontario, was sold by an investor group led by U.S. private equity firm Crestview Partners. As reported by PE Hub Canada in August, Crestview was expected to see a more than 30 percent internal rate of return from the sale. Crestview and CITIC Capital bought the company from the Sterling Group for US$500 million in 2013. It was carved out of Gates Canada in 2011.
  • Rodan acquires VC-backed energy analytics provider Energent October 21, 2015 5:44 pm
    Rodan Energy Solutions Inc has bought Energent Inc, a Kitchener, Ontario-based provider of energy management information systems. No financial terms were released. Rodan, a Canadian provider of smart grid solutions to electricity consumers, distributors and power producers, said the acquisition will help customers to enhance their energy management strategies and reduce costs. Founded in 2007, Energent was backed by the MaRS Investment Accelerator Fund, an early-stage venture fund affiliated with MaRS Discovery District. The company also received funding from the Ontario Centres of Excellence.
  • Georgian Partners to realize exits in proposed sales of Silanis and Syncsort October 16, 2015 5:08 pm
    Georgian Partners will soon realize two software investments it made seven years ago, just when the Toronto-based growth equity firm was getting started. E-signature solutions provider Silanis Technology and big data software company Syncsort, the earliest deals of Georgian Partners’ first applied analytics fund, both entered into sales agreements in October.
    Kirk Falconer
  • Tricor-backed CPI Card Group raises $137.5 mln from IPO October 15, 2015 4:09 pm
    CPI Card Group Inc, a portfolio company of Canadian private equity firm Tricor Pacific Capital, has closed its previously-announced initial public offering. The company, which began trading on the Nasdaq Global Select Market and the Toronto Stock Exchange on October 9th under the ticker symbols "PMTS" and "PNT," respectively, raised net proceeds of about US$137.5 million. It did not receive any proceeds from the sale of common stock by selling shareholders. Littleton, Colorado-based CPI is a manufacturer of financial payment cards and other card products and services. Tricor invested in the company in June 2007 and continues to be its majority investor.
    Kirk Falconer
  • Neiman Marcus delays IPO amid stock market volatility: Reuters October 14, 2015 8:24 pm
    Neiman Marcus Group Inc, the U.S. luxury specialty department store chain that registered with regulators in August for an initial public offering, has pushed back its stock market flotation to 2016, sources told Reuters. The Dallas, Texas-based company, which is owned by private equity firm Ares Management LP and the Canada Pension Plan Investment Board, was eyeing an IPO this year but stock market jitters have prompted it to put the plan on hold, the sources said.
  • Labatt purchases HMW Capital-backed Mill Street Brewery October 13, 2015 6:26 pm
    Labatt Breweries of Canada LP has bought Mill Street Brewery, a craft brewer headquartered in Toronto. The transaction's value was not disclosed. Established as an organic brewpub in 2002, Mill Street today has a portfolio of 70 unique beers. Labatt said it plans to support the company's continued growth with an investment of $10 million in its Toronto brewery, which includes a state-of-the-art brewhouse and packaging capabilities. Mill Street has been backed by HMW Capital, a Canadian private equity and investment banking firm. HMW's Herb Willer was part of the company's founder group and acted as its chairman.
  • Clearlake Capital to acquire Georgian Partners-backed Syncsort October 13, 2015 4:26 pm
    U.S. private equity firm Clearlake Capital Group has agreed to acquire Syncsort Inc, a big data enterprise software provider based in Woodcliff Lake, New Jersey. No financial terms were disclosed. Clearlake said Syncsort's leadership position in the mainframe and big data segments make it an effective buy-and-build platform for undertaking consolidation in the software industry. The company, which was founded in 1968, is a portfolio investment of Canadian venture capital firm Georgian Partners. Its other investors include Insight Venture Partners, Bessemer Venture Partners and Goldman, Sachs & Co.
  • Grenville to exit INOVx investment via buyout transaction October 9, 2015 5:26 pm
    Canadian royalty financing firm Grenville Strategic Royalty Corp has entered into a buyout deal with INOVx Inc, an Irvine, Calif.-based asset visualization software company that serves industrial process customers. The transaction, which forms part of a broader restructuring underway at INOVx, will facilitate the exit of Grenville from the company. Grenville will receive US$1.75 million for the buyout, which adds to US$400,000 in royalty payments to date. The firm invested in INOVx in July 2014.
  • Change Capital sells Macduff Shellfish to Clearwater Seafoods October 9, 2015 1:11 pm
    U.K.-based private equity firm Change Capital Partners has agreed to sell its investment stake in Macduff Shellfish Group to Clearwater Seafoods, a Canadian vertically integrated seafood company. The transaction values Macduff at about £98.4 million ($196.2 million). Based in Mintlaw, Scotland, Macduff is a wild shellfish processor with a strong market presence in Europe. Change Capital invested in the business in 2011. KPMG and Burness Paull have advised Change Capital on the sale, which is expected to close at the end of October.
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