DEAL OF THE DAY: Ontario Teachers' subsidiary to buy Amica for $578-million
BayBridge Seniors Housing Inc., a subsidiary of the Ontario Teachers' Pension Plan Board, is set to acquire luxury senior homes operator Amica Mature Lifestyles Inc. for $578-million. The friendly – and generous – deal will see Amica shareholders get $18.75 per share in cash, which is more than double the stock price at close of trading on Tuesday. Full story
MERGERS AND ACQUISITIONS
Valeant to buy Synergetics for $166-million
Canada's Valeant Pharmaceuticals International Inc. agreed to buy surgical device maker Synergetics USA Inc., its eighth acquisition this year. Valeant said on Wednesday it would commence a tender offer to acquire all outstanding shares of Synergetics for $6.50 (U.S.) per share, for a total offer value of $166-million. Full story
Vertex Resources to buy trio of companies
Vertex Resource Group Ltd. has bought Ignite Energy Services Ltd, Glacier Ridge Ventures Ltd. and Tar Energy Services Ltd. The companies are providers of fluid production hauling and management services. The Alberta-based Vertex said the deal will expand the depth of its oil field services division and environmental consulting and safety and medical divisions. The terms were not disclosed. Press release
Thermal Systems to acquire Skyline Companies
Calgary-based Thermal Systems KWC Ltd., a building envelope subcontractor, is buying Alberta-based Skyline Building Envelope Solutions Inc. and Skyline Building Systems Inc. to expand into flat-roofing and product distribution. The terms were not disclosed. Press release
Canada Rare Earth to buy CEC Rare Earth assets
Canada Rare Earth Corp. is set to buy the assets of CEC Rare Earth Corp. The acquisition is expected to further the company's ability to develop and commercialize rare earth properties with the goal of processing and refining rare earths. The terms were not disclosed. Press release
Colliers International to acquire Gateway Commercial
Colliers International, a real estate services firm, said that it will acquire St. Louis-based commercial real estate firm Gateway Commercial. Terms of the deal were undisclosed. Press release
Northern Frontier to acquire SL Oilfield Construction
Northern Frontier Corp., a Calgary-based construction services company, is set to acquire SL Oilfield Construction, an Alberta-based oil field construction service provider. SL Oilfield provides road and land preparation, as well as reclamation services primarily for oil and natural gas drilling activity. The terms were not disclosed. Press release
PRIVATE EQUITY AND VENTURE CAPITAL
Mogo receives $200-million credit facility
Canadian online lending platform Mogo Finance Technology Inc. has completed an agreement with Fortress Investment Group, a U.S. private equity firm, for an expandable revolving credit facility of up to $200-million. The facility, which has a five-year term, will be used to finance expansion of its consumer instalment loans of up to $35,000. Mogo has previously used credit provided by Fortress. Press release
Bubl gets vote of confidence with $4.6-million
Bubl Technology Inc. has raised $4.6-million in a seed funding round led by Samsung Ventures and J-Tech Capital, along with others. The Toronto-based developer of Bublcam 360-degree cameras is also making changes to its executive structure: the company's current CEO Sean Ramsay will leave the post to focus on product vision and technology while current VP of hardware Dan Mills will serve as interim chief executive officer. Full story
ANALYSIS AND INSIGHT
Avison Young expands to U.S. with new affiliation
Avison Young, a portfolio company of Canadian private equity firm Tricor Pacific Capital, has affiliated with Cushman & Wakefield-Cornerstone, a U.S. commercial real estate company. The undisclosed deal gives Avison new offices in Nashville and Knoxville, Tennessee. Based in Toronto, Avison has been backed by Tricor since 2011. Press release
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