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Tim Irons, a quality control technician at Trican, checks the state of fluid that will be pumped into the ground during the hydraulic fracturing process at an operation near Bowden, Alta., Tuesday, Feb. 14, 2012.
Tim Irons, a quality control technician at Trican, checks the state of fluid that will be pumped into the ground during the hydraulic fracturing process at an operation near Bowden, Alta., Tuesday, Feb. 14, 2012.
(Jeff McIntosh For The Globe and Mail)

Orange’s next activist target: Newalta

Orange Capital LLC, the activist investor that successfully pushed for change at InnVest REIT, is looking to go two-for-two on successful Canadian campaigns in just a few months.

Newalta Corp. last week said that it was nominating two new directors after consulting with “certain major investors, including New York-based Orange Capital LLC, and respected their views” on board renewal.