Q-News
September 2010
Posted in M&A News
In August there were five private M&A deals involving
Canadian companies. Four of these were
cross border deals involving a US
party on the other end of the transaction. Only two of the deals involved the acquisition
of a technology company – one of these was a GTA company that was acquired by
Google. The remaining three transactions
involved two service providers and one manufacturer. The Google deal was the only transaction this
month that was not carried out by a private equity group or PE-backed strategic
acquirer.
Canadian M&A
transactions:
Torquest Partners, a Toronto-based private equity
firm, acquired a majority stake in Edmonton’s
SCM
Insurance Services. SCM acts as a service provider to
insurance companies and self-insured corporations, providing claims management
services through its ClaimsPro subsidiary, risk
management services through its RMS subsidiary, forensic
investigation services through its FIC subsidiary, and software through its SCMTech
subsidiary. The financial details of
the transaction were not reported. SCM’s
original equity partner was Tri-West.
Cross Border M&A
SocialDeck,
a Toronto-based company behind a social gaming platform that allows for
simultaneous game play across multiple mobile devices, was acquired by Google,
for an undisclosed amount. SocialDeck
had received financing from Blackberry Partners Fund
back in March of 2009.
Ontario Teachers’ Pension Fund and New York-based Avista
Capital Partners reached a deal to acquire INC Research (NC), a
contract researcher specializing in clinical drug trials. INC Research was
previously owned by a group of investors led by Crosspoint Venture Partners and Adams Street Partners.
Wynnchurch Capital, a Chicago-based private equity
firm, backed a management buyout of Quebec-based Pro-Fab. The company manufactures and distributes
modular homes in eastern Canada
and the northeastern United
States.
Canadian Contract Cleaning Specialists, a Richmond-Hill based firm that
specializes in the establishment of sanitation programs for the food industry,
has been acquired by Iowa-based Packers Holdings LLC (a portfolio company of Blue Point Capital
Partners), which specializes in the cleaning of food processing
facilities. The terms of the transaction have not been disclosed.
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