Kirk Falconer
Thoma Bravo has agreed to sell the MOSAIC product of portfolio company Quorum Software in response to a challenge from Ottawa's Competition Bureau. As part of the agreement, MOSAIC's purchaser must be acceptable to the Commissioner of Competition. In June, the Bureau said Thoma Bravo's ownership of the two largest energy reserves software businesses in Canada, Quorum and Aucerna, was likely to reduce competition. It sought an order requiring the sale of either MOSAIC or Aucerna's Val Nav. Thoma Bravo announced the acquisition of Aucerna, a Calgary-based provider of planning, execution and reserves solutions to the oil and gas industry, in February.
Champlain Financial Corp has recruited André La Forge as an advisory partner. La Forge joins from Entrepreneur Capital, an investor in lower mid-market opportunities in Québec and Ontario.
Mucci Farms has acquired a controlling interest in Orangeline Farms, a Leamington, Ontario-based grower of specialty greenhouse produce. No financial terms were disclosed. Founded in 2000 by the Kniaziew family, Orangeline produces fruits and vegetables, including pepper offerings, under the Zing! Healthy Foods brand. Mucci, a Kingsville, Ontario-based grower, packer and shipper of greenhouse fruits and vegetables, said the deal advances its goal to increase local and regional production. The company also announced plans to expand in Canada and the United States. In 2017, Mucci secured an investment from the industries group of Novacap, a Canadian mid-market private equity firm.
DW Healthcare Partners (DWHP) has promoted Gabriel Becher to managing director. Becher joined DWHP in 2016 as a principal. He previously served as a portfolio manager in the private equity group of Alberta Investment Management Corp (AIMCo). Becher was also an associate with TorQuest Partners between 2005 and 2007. DWHP also promoted Eric Moore to principal and Aaron Kennedy to vice president. Moore and Kennedy joined the firm as associates in 2012 and 2015, respectively. DWHP, a Toronto- and Park City, Utah-based healthcare private equity firm, earlier this year closed DW Healthcare Partners Fund V, raising US$610 million.
Brookfield Asset Management has sold its 45 percent interest in Acadian Timber Corp (TSX: ADN), a Vancouver-based supplier of primary forest products. The private deal reflected a consideration of about $128 million in cash. The buyer was Macer Forest Holdings Inc. As a result, Brookfield Managing Partner Ben Vaughan has resigned as Acadian's chair. Brookfield Timberlands Management LP will continue as the company's external manager. Acadian owns and manages about 1.1 million acres of timberlands in New Brunswick and Maine, and provides management services for about 1.3 million acres of Crown-licensed timberlands.
Fire Safety & Protection LLC (FSP) has acquired Georgian Bay Fire & Safety Ltd, an Owen Sound, Ontario-based life safety and property protection business. Terms weren't disclosed. Established in 1969, Georgian operates more than 60 vehicles to service fire, security and communication systems for Ontario commercial and residential customers. FSP, an Atlanta-based fire and life safety company, said the acquisition advances its goal of building a strong presence in North America. FSP was formed in 2018 by Sunny River Management, a U.S. family office private equity investor.
European Clean Energy Infrastructure, an affiliate of Swiss asset manager Capital Dynamics, has agreed to acquire a portfolio of wind projects in Northern Ireland from Brookfield Renewable Partners. No financial terms were disclosed. The portfolio consists of four operating wind projects with a total generation capacity of 68 megawatts. Brookfield Renewable Partners, majority owned by Toronto-based alternative investment firm Brookfield Asset Management, will continue to provide operational support for the portfolio.
Rocky Mountain GTL Inc (RMGTL), a Calgary-based designer, builder and operator of small-scale gas-to-liquids plants, has raised a $15 million loan from Roynat Capital. RMGTL has licensed technology from Greyrock Energy Inc that converts flare gas, natural gas and natural gas liquids into clean-burning liquid fuels for the road, rail, marine and aviation markets. The company is building a first commercial plant near Carseland, Alberta that will make synthetic diesel fuel. Roynat, an affiliate of Scotiabank, provides long-term financing solutions to Canadian mid-market companies.
Avaya Holdings Corp is considering a merger with Mitel Networks Corp, an Ottawa-based provider of business communications, collaboration and contact-centre solutions, Bloomberg reported. The news, which adds to an earlier Wall Street Journal report, said the merger could create a combined business worth more than US$5 billion, including debt. Avaya, a Santa Clara, California-based telecommunications equipment and software company, is also considering an offer from Clayton Dubilier & Rice, Reuters reported. Mitel was acquired last year by a consortium led by Searchlight Capital Partners for about $2.6 billion.
S.i. Systems ULC has acquired Keen Technology Consulting Inc, a Toronto-based information technology (IT) staffing and consulting business. No financial terms were disclosed. Founded in 2006 by Managing Partners Grant McKeracher and Blake Appleton, Keen specializes in contract and permanent staffing, payroll services and IT service management solutions. Based in Calgary, S.i. Systems is an IT staffing company. Last year, it secured an investment from Quad-C Management, a U.S. mid-market private equity firm.