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The market for initial public offerings in Canada crested the halfway point of 2018 with just more than CAD1 billion of new equity raised – a market characterised as ‘slow and steady’, according to the latest quarterly PwC Canada survey of the Canadian IPO market, published today.
Eleven new issues on all exchanges resulted in CAD956 million raised in the second quarter, including four issues on the TSX totalling CAD948 million representing the lion’s share of the proceeds. The largest IPO of the quarter, CAD462 million, was the dual listing of Ceridian HCM Holdings Inc. on the New York Stock
Plantronics has completed its previously announced acquisition of Polycom.
“We are pleased that Plantronics and Polycom are moving ahead as one company focused on putting people at the centre of every collaboration experience,” says Joe Burton, Plantronics’ President and Chief Executive Officer. “Plantronics now offers an unparalleled portfolio of integrated, intelligent solutions that spans headsets, software, desk phones, audio and video conferencing, and cloud services. This combined offering empowers people with the tools and flexibility they need to create the best experience when connecting to what is most important to them.”
With the addition of Polycom’s portfolio, Plantronics says
Private investment firm Rcapital has backed Scottish shopfitter Havelock, based in Kirkcaldy, Fife. The deal secures over 300 jobs and the firm’s manufacturing sites, providing financial stability for the business.
Havelock’s management team will work in partnership with Rcapital to restructure and invest in the business. A key focus will be to ensure that all customer projects are completed in full, the delivery of innovative design, manufacturing and supply arrangements.
Shaun Ormrod, Chief Executive of Havelock, says: “We have been exploring a range of long-term funding options for the business over the past few months to ensure that we are
TorQuest Partners and its co-investors have completed the sale of their majority interest in Spinrite to Comvest Partners. Terms of the transaction have not been disclosed.
Daniel Sonshine, Partner at TorQuest, says: “Spinrite’s success over the past two and a half years is the result of the Company’s continuous drive to build on its leading market position through new product introductions and a highly focused direct-to-consumer digital marketing strategy. Spinrite has been an outstanding investment for TorQuest and our partners, and we are grateful to the Company’s management team for its dedication and excellent work over our hold period.”
Investment professionals, financial executives and mergers and acquisition execs are increasingly using ‘alternative’ data to obtain a competitive edge. Satellite images of shopping centre parking lots, trucking schedules, mobile phone usage patterns and more can offer insights that create an edge in finding investment opportunities, vetting acquisition targets and closing deals.
eVestment clients are increasingly using eVestment’s data on the institutional investment business as an alternative data source in identifying and assessing potential acquisition or merger targets around the world as the asset management business continues to evolve.
“Clients tell us they’ve used eVestment to vet firms as they
Intuitus, a specialist in technology and digital advice to private equity firms and mid-market companies, has consolidated its digital expertise into a new Digital Practice specifically tailored to address the interests of the private equity sector.
The Digital Practice will provide Intuitus’ clients with thought leadership and actionable insight throughout the investment lifecycle, including a new Digital Maturity Assessment designed to quickly identify and evaluate digital opportunities and threats that could have a material impact on entry and exit value.
Led by Alasdair Redmond, Intuitus’ Head of Technology, the Practice comprises over 40 experts in digital technology and industry advances
Swarm, the blockchain for private equity, announced that the recently tokenised Andra Fund will be made available to its investors.
The firm writes that through the Andra Fund, Swarm investors will be able to utilise any of four cryptocurrencies (Bitcoin, Ethereum, Swarm, or the Dai stablecoin) to invest in one of the fastest-growing markets of the last decade: late stage, pre-IPO technology companies.
“Late stage pre-IPO technology companies have become their own asset class, growing from USD100 billion to USD490 billion during the past three years. While one of the most attractive and large-growth asset classes, it is also an
Ropes & Gray has advised Duke Street Capital, a UK-based mid-market private equity firm – and another new client for the firm – on its acquisition of Great Rail Journeys, a provider of escorted rail holidays, from ECI. Terms of the transaction have not been disclosed.
Great Rail Journeys offers almost 400 itineraries to over 50 countries globally, catering for a growing demographic group of culturally interested 55-plus year old travellers. Over the last five years the company has performed strongly, tapping into new source markets for its rail tours including Australia and more recently the US. The business has
Amundi Energy Transition (AET), a joint venture between Amundi (60 per cent) and EDF (40 per cent) it has raised more than EUR500 million in equity capital from institutional investors to finance projects for energy transition among French regions and industries.
The European Investment Bank, for an amount of EUR50 million, and Crédit Agricole Assurances, are the leading investors.
Thanks to this capital raising, AET will have an investment capacity in excess of EUR2 billion (including leverage. AET now aims to invest more than EUR600 million in green projects for French regions by the end of 2018, which would
Varagon Capital Partners (Varagon) is serving as administrative agent on a senior secured credit facility to support the acquisition of Comar Packaging (Comar) by investment funds managed by Morgan Stanley Capital Partners (MSCP).
Founded in 1949 and headquartered in Voorhees, New Jersey, Comar is a manufacturer and leading provider of innovative, engineered packaging and dosing solutions for health, wellness and consumer markets.
“We are excited to partner with MSCP in its acquisition of Comar,” says Matthew Cutri, Managing Director at Varagon. The MSCP team is a logical buyer given their expertise in the sector and this transaction extends Varagon’s
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