Onex to buy Gluskin Sheff for C$445 mln


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Onex Corp said March 22 that it agreed to buy Gluskin Sheff for C$14.25 per share or about C$445 million. Gluskin Sheff is a Canadian wealth management firm.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)–Onex Corporation (“Onex”) (TSX: ONEX) and Gluskin Sheff + Associates Inc. (“Gluskin Sheff”) (TSX: GS) today announced they have entered into a definitive agreement under which Onex will acquire 100% of Gluskin Sheff for C$14.25 per share. The purchase price represents a 28% premium to Gluskin Sheff’s closing share price on March 22, 2019, and a 37% premium to the 60-day volume weighted average price (VWAP). The total cash consideration for 100% of Gluskin Sheff’s equity is approximately C$445 million.
This combination will bring together two of Canada’s most entrepreneurial and successful investment firms and broaden the product suite available to Gluskin Sheff’s clients. Gluskin Sheff will continue to be led by its existing leadership team and

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Fiera Capital to buy Integrated Asset Management


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Fiera Capital Corp said March 22 that it agreed to buy Integrated Asset Management Corp. The equity value of the deal is $74 million. Integrated, of Canada, is an alternative asset manager.

PRESS RELEASE

TRANSACTION COMPLEMENTS EXISTING SUITE OF PRIVATE ALTERNATIVE INVESTMENT STRATEGIES, ADDING OVER $3 BILLION IN AUM AND COMMITTED CAPITAL
• Transforms Fiera Private Lending into a leading pan-Canadian non-bank private lending platform
• Accelerates Fiera Properties growth with a complementary niche offering focused on industrial property
• Transaction enterprise value of $64 million
• Accretive to Fiera Capital’s 2019 EPS and Adjusted EPS
MONTREAL, March 22, 2019 /CNW Telbec/ – Fiera Capital Corporation (“Fiera Capital” or the “Firm”) (TSX: FSZ) announced today that it has entered into a definitive agreement with Integrated Asset Management Corp. (“IAM”) (TSX: IAM) (the “Agreement”) under which it will acquire all of the outstanding common shares of IAM (“IAM Shares”) pursuant to

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CDPQ buys 27 pct of Hilco Trading


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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La Caisse de dépôt et placement du Québec said March 21 that it acquired a minority, 27 percent, of Hilco Trading LLC. Financial terms weren’t announced. Hilco, of Chicago, is a diversified financial services company.

PRESS RELEASE

MONTRÉAL and CHICAGO, March 21, 2019 /PRNewswire/ – La Caisse de dépôt et placement du Québec (“CDPQ”) has acquired a minority stake in Hilco Trading, LLC (d/b/a “Hilco Global”), an independent financial services company. Following the transaction, CDPQ will own 27% of Hilco Global.
Through this new partnership, CDPQ will support the long-term strategy and continued growth of Hilco Global, a leading authority on asset valuation, monetization and advisory solutions across the world. Furthermore, CDPQ will target annual investments of approximately US$150 million, alongside Hilco Global, in distressed assets and other special situations.
Jeffrey B. Hecktman, Chairman, CEO and Founder of Hilco Global said, “Our new partnership with CDPQ is a perfect fit

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SK Capital-backed Perimeter Solutions to expand fire safety offerings with three add-ons


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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SK Capital-backed Perimeter Solutions completed the purchase of a group of companies in Post Falls, Idaho, including First Response Fire Rescue, River City Fabrication and H&S Transport. Perimeter Solutions plans to integrate the three businesses within its manufacturing and services systems to expand its offering in the fire suppression sector. Perimeter will retain management and staff of the three companies, the facilities of which will become an operational site under Perimeter Solution’s Fire Safety Group.

Press Release

Perimeter Solutions, the global leader in the production of fire retardants, foams, and water enhancing gels, along with a wide range of services for managing wildland, industrial, municipal, and military fires, today announced it has completed the purchase of a group of companies in Post Falls, Idaho, including First Response Fire Rescue (“First Response”), River City Fabrication (“RCF”) and H&S Transport.

As the manufacturer of PHOS-CHEK® Long-Term Fire Retardant, used by

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May River Capital-backed Hunt Valve acquires MB Valve


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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May River Capital-backed Hunt Valve Co., which makes specialty valves for the U.S. Navy and industrial customers, acquired Montreal Bronze Ltd. (known as MB Valve). May River completed a recapitalization of Hunt Valve Co. in December 2018 through its first fund.

Press Release

Hunt Valve Company (Hunt Valve), a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide, announced today that it has completed its acquisition of Montreal Bronze Limited (MB Valve).

Hunt Valve is a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide. Located in Terrebonne, Quebec, MB Valve supplies severe-duty bronze marine valves. The Company also has a large variety of special bronze and alloy steel products that meet specific performance requirements for U.S., Canadian and NATO-friendly Navy ships, pharmaceutical and nuclear applications.

“The financial and organizational resources afforded by

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ACON buys JD Beauty from Topspin Partners to merge with Goody Products


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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ACON Investments acquired JD Beauty Co. and will merge the company with Goody Products, Inc., which ACON purchased in August 2018. ACON acquired JD Beauty from Topspin Partners. ACON is building a multi-platform, diversified haircare platform. Jeffrey Davidson, CEO of JD Beauty, will become CEO of the combined platform.

Press Release

ACON Investments, L.L.C. and its affiliates (“ACON”), owners of Goody Products, Inc. (“Goody”), today announced it has completed the acquisition of JD Beauty Co., LLC (“JD Beauty”) from Topspin Partners II. JD Beauty is the company behind the popular Wet Brush branded hair care tools, Bio Ionic hair styling tools and Ouidad hair care treatments.

JD Beauty will merge with the well-known and iconic Goody, which ACON purchased from Newell Brands in August 2018, to form a powerful multi-brand diversified haircare accessory, liquid and styling tool company uniquely poised to serve the beauty industry.

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Ares Management PE Group buys CoolSys


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CoolSys said March 21 that it was sold to the Private Equity Group of Ares Management Corp. Financial terms weren’t announced. Management is investing. CoolSys is a refrigeration and HVAC services company.

PRESS RELEASE

BREA, Calif.–(BUSINESS WIRE)–CoolSys™, a parent of market-leading refrigeration and HVAC companies nationwide, announced today that is has been acquired by a fund managed by the Private Equity Group of Ares Management Corporation. CoolSys will continue to operate under its current executive team, which will collectively maintain a significant equity investment in the company. Financial terms of the private transaction were not disclosed.
“This is a major milestone for CoolSys,” comments Adam Coffey, CEO of CoolSys. “We are grateful to our former private equity partner, Audax Group, for supporting the execution of our growth strategies during the past three years. Now, with Ares’ additional support and resources, we can pursue a more aggressive acquisition and

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Phillips & Temro buys EVoCharge


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Phillips & Temro Industries Inc, a Harbour Group company, said March 20 that it acquired EVoCharge Inc. Financial terms weren’t announced. EvoCharge supplies electric vehicle charging infrastructure solutions for commercial, public vehicle fleet, and residential use.

PRESS RELEASE

ST. LOUIS, March 20, 2019 /PRNewswire/ — Phillips & Temro Industries, Inc., a Harbour Group company, acquired EVoCharge, Inc. (“EVoCharge”), Jeff Fox, Harbour Group’s chairman and chief executive, announced today. Terms of the transaction were not disclosed.
EVoCharge supplies electric vehicle (“EV”) charging infrastructure solutions for commercial, public vehicle fleet, and residential use. Founded in 2009, EVoCharge is one of North America’s original EV charging infrastructure providers, providing Electric Vehicle Supply Equipment (“EVSE”) and cable management solutions. EVoCharge is headquartered in the Los Angeles area.
“We are excited to partner with EVoCharge as we extend Phillips & Temro’s reach to new markets and applications,” Mr. Fox said.
“EVoCharge adds product depth

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Gravity Oilfield buys certain water disposal infrastructure from MBI Oil


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Gravity Oilfield Services Inc, a portfolio company of Clearlake Capital Group LP, said March 21 that it acquired certain water disposal infrastructure from MBI Oil & Gas LLC. Financial terms weren’t announced.

PRESS RELEASE

MIDLAND, Texas, March 21, 2019 — Gravity Oilfield Services Inc. (“Gravity”), a leading energy and oilfield infrastructure company backed by affiliates of Clearlake Capital Group, L.P. (“Clearlake”), today announced the acquisition of certain water disposal infrastructure from MBI Oil & Gas, LLC (“MBI”). The acquisition further strengthens Gravity’s existing water management solutions in the Bakken while expanding the company’s relationships with the region’s most active operators. The transaction enhances Gravity’s scale within its permanent water infrastructure offerings in the basin, further building on the company’s acquisition of McKenzie Energy Partners in June 2018. Financial terms of the transaction were not disclosed.

“The strategic acquisition of the MBI facilities adds additional scale in the core

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Private multiples are ascendant. Is this the new normal?


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By Hugh MacArthur, Bain & Co

Valuation multiples move up and down. Yet for the past 30 years, the average multiple of Ebitda paid for public assets has almost always topped that paid for private assets.

In fact, during only three periods historically did private multiples generally exceed the public average: during the “Barbarians at the Gate” era of the mid-1980s, during the exuberant runup to the 2008 global financial crisis, and now.

The Barbarians era and the precrisis boom were short-lived, partly because heavy activity in public-to-private deals eventually helped but­tress public multiples.

P2P activity is strong this time around, too, but as we note in Bain’s 10th annual Global Private Equity Report, a number of factors make it worth asking whether something about the way in which investors view the public and private markets has changed fundamentally.

If so, that changed perception will have clear implications for PE firms

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Alvarium Investments buys Iskander


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Alvarium Investments, formerly LJ Partnership, said March 21 that it acquired Iskander. Financial terms weren’t announced. Iskander, of France, is an asset manager dedicated to large private investors. Separately, Alvarium is part of Queensgate Investments, which this week acquired four Grange Hotels in Central London in a deal valued at around 1 billion pounds.

PRESS RELEASE

Continued high pace of acquisition activity for leading independent investment boutique as it reinforces global position and rebrands to “Alvarium Investments”

• Alvarium completes five acquisitions in eight months in London and globally –

Thursday 21 March 2019: Alvarium Investments (formerly LJ Partnership), a leading independent global investment boutique, today announced the acquisition of Iskander, an asset manager dedicated to large private investors, giving it a presence in France and further strengthening its international reach. This is the fifth transformative acquisition made by the firm in the last eight months, extending its

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Primus Capital invests in Harmony Healthcare IT


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Primus Capital has invested in Harmony Healthcare IT. Financial terms weren’t announced. Harmony, of South Bend, Indiana, provides a data management platform providing a single point of access to historical patient, employee or business data for healthcare enterprises. Brentwood Capital provided financial advice.

PRESS RELEASE
SOUTH BEND, IND. (PRWEB) MARCH 19, 2019
Harmony Healthcare IT (HHIT), an industry leader in data extraction, migration and archival solutions, announced today that Primus Capital (Primus) has made a growth investment in the future of the company. Brentwood Capital Advisors LLC (BCA) served as the exclusive financial advisor.
The investment will accelerate HHIT’s strong performance with its flagship product, HealthData Archiver®, as well as other services aimed to reduce the expense of legacy data management while preserving vital information. The management team at HHIT will continue to be actively involved in day-to-day operations as well as in strategic planning to further advance and expand

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Insight Venture Partners invests in PDI


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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PDI said March 20 that Insight Venture Partners has invested in the company. Genstar and TA Associates will both retain minority stakes. Financial terms weren’t announced. PDI, of Atlanta, provides enterprise software to the convenience retail, wholesale petroleum and logistics industries.

PRESS RELEASE
ATLANTA, March 20, 2019 – PDI, a leading global provider of enterprise software solutions to the convenience retail, wholesale petroleum and logistics industries, announced today an investment by Insight Venture Partners (Insight) to support the company’s continued global growth. Insight Venture Partners joins Genstar and TA Associates, who will both retain minority stakes in PDI.
Insight is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has invested in more than 300 companies worldwide, working with visionary executives to provide practical, hands-on growth expertise to foster long-term success.

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GTCR, Lucier form Corza Health


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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GTCR said March 20 that it’s partnering with Gregory T. Lucier to form Corza Health Inc. Lucier will serve as CEO of Corza Health and will invest alongside GTCR. Corza, of San Diego, will buy companies and assets that focus on on the broader life sciences and medical technology sector.

PRESS RELEASE

CHICAGO, March 20, 2019 /PRNewswire/ — GTCR, a leading private equity firm, today announced that it has entered into a partnership with Gregory T. Lucier to form Corza Health, Inc. (“Corza Health”). The new company, headquartered in San Diego, CA, will focus on acquiring companies and assets as part of a strategy to build a market-leading healthcare business with a particular focus on the broader life sciences and medical technology sector. GTCR, the firm that pioneered The Leaders Strategy™– finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational

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Acuris, backed by BC Partners and GIC, acquires research firm Blackpeak


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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BC Partners and GIC-backed Acuris acquired Blackpeak, an investigative research firm with a focus on capital markets, mergers and acquisitions and private equity. Blackpeak was co-founded by Jack Clode and Chris Leahy in 2011.

Press Release

Acuris, the BC Partners and GIC-backed provider of global data, intelligence, research and analysis has acquired Blackpeak, the investigative research firm.

Co-founded by Jack Clode and Chris Leahy in 2011, Blackpeak has grown to become a premier provider of complex due diligence, research and investigation services, particularly in relation to capital markets, M&A and private equity. The team’s experience, strong brand and deep customer relationships have allowed Blackpeak to gain a market leadership position and expand internationally, all while generating consistent profitability.

Headquartered in Hong Kong, Blackpeak now operates from key financial and economic centers, including Singapore, Tokyo, Shanghai, Beijing, New York and Washington DC.

Upon completion of the acquisition, Blackpeak will

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GenNx360 Capital Partners acquires majority stake in Miller Environmental Group


This post is by Milana Vinn from PE Hub Blog: Buyout Deals


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GenNx360 Capital Partners acquired a majority interest in Miller Environmental Group, which services the utility, transportation and petrochemical industries. CEO Mark Miller will be exiting from day-to-day operations, but will continue as a member of MEG’s board of directors. Jerry Coogan has been appointed president and CEO and George Wallace is executive vice president.

PRESS RELEASE

GenNx360 Capital Partners (“GenNx360”) is pleased to announce that it has acquired a majority interest in Miller Environmental Group Inc. (“MEG” or “the Company”).

Based in Calverton, New York, MEG was founded in 1971 to service the utility, transportation and petrochemical industries. Through growth and diversification, MEG has remained at the forefront of the environmental services industry by delivering exceptional customer service in the areas of emergency response, waste transportation and disposal, remediation, and industrial as well as marine services. More recently, MEG has acquired a transfer, storage and disposal facility to better serve its

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Peak Rock to buy Kroger’s Turkey Hill business


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Kroger Co said March 19 that it agreed to sell its Turkey Hill business to Peak Rock Capital. Financial terms weren’t announced. Peak Rock has agreed to continue operating the Turkey Hill business out of its Conestoga, Pennsylvania facility with its nearly 800 associates and under the same Turkey Hill brand.

PRESS RELEASE

Press Release – Kroger and Peak Rock Capital Announce Definitive Agreement for Purchase of Kroger‘s Turkey Hill Business

March 19, 2019

Link

The Kroger Co. (NYSE: KR) and Peak Rock Capital, a leading middle-market private equity firm based in Austin, Texas, today announced a definitive agreement for the sale of Kroger’s Turkey Hill business to an affiliate of Peak Rock Capital.

 

As part of the sale agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its large Conestoga, Penn., facility with its nearly 800 full-time, part-time and seasonal associates and

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Gryphon strikes first behavioral health deal with investment in LEARN Behavioral


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Gryphon Investors acquired a majority stake in LEARN Behavioral, a network of providers of behavioral treatment services for children with autism and other special needs, from LLR Partners. Financial terms were not disclosed. The deal is Gryphon’s first in the behavioral health sector. Buyouts reported exclusively on the deal earlier this month.

Press Release

Gryphon Investors (“Gryphon”), a San Francisco-based private equity firm, announced today that it has acquired a majority stake in LEARN Behavioral (“LEARN” or “the Company”), from LLR Partners. LEARN is the leading network of providers serving children with autism and other special needs. LLR and senior management will maintain minority stakes alongside Gryphon. The transaction marks Gryphon’s first investment in the behavioral health sector. Financial terms were not disclosed.

Founded in 2006, and headquartered in Baltimore, Maryland, LEARN serves more than 4,000 families in 23 states with personalized behavioral treatment services for autism and related

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LLR Partners invests in CareATC


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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LLR Partners said March 19 that it invested in CareATC Inc via a recap. Financial terms weren’t announced. CareATC, of Tulsa, Oklahoma, provides an employer-sponsored healthcare marketplace. Canaccord Genuity LLC provided financial advice to CareATC. PrayWalker served as legal counsel to CareATC. Morgan Lewis & Bockius LLP served as legal counsel to LLR Partners.

PRESS RELEASE

LLR Partners Invests in CareATC, Leader in Employee Population Health Management

Philadelphia, PA and Tulsa, OK – March 19, 2019 – LLR Partners today announced it has completed a growth recapitalization of CareATC, Inc., a technology-driven employee population health management company. The partnership with LLR Partners will support the continued growth of CareATC’s employer-sponsored clinic network and further investment in the Company’s market leading, proprietary population health technology platform.

“Employers are contending with skyrocketing costs of providing healthcare to their employees. At the same time, they’re seeing a decline in the quality and

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