Castanea Partners has invested an undisclosed amount in Thymes, which makes fragrances for bath, body and the home. Other investors in the transaction included Stanfield Capital, RCPDirect II LP, Northstar Mezzanine Partners VI, LP and management. Troy Stanfield, of Stanfield Partners and formerly of Castanea, organized the syndicate of additional investors for the deal. Stanfield will join Thymes' board.
Calgary-based oil and gas company Coral Hill Energy Ltd announced that it has received written notice from Aspenleaf Energy Ltd that the latter is terminating its previously announced plans to acquire Coral Hill. The deal, which had been approved by the boards of directors of both companies, would have given Coral Hill shareholders the option of a cash payment or shares in Aspenleaf. Coral Hill said it "does not believe Aspenleaf has valid grounds for the termination" and intends to pursue "all remedies available to it." Calgary's Aspenleaf is backed by Canadian private equity firm ARC Financial Corp, Ontario Teachers’ Pension Plan and other investors.
Canadian healthcare technology and business services provider Accreon Inc has announced that it is in the final stages of a leveraged management buyout (MBO). The MBO will facilitate the company's succession to three senior Accreon executives: Eric Demers, Martin Ferguson and Michael Lavigne. The deal, the value of which was not published, will be funded by the new management team, the founders, and U.S. healthcare private equity firm Mansa Capital. Accreon, which has its headquarters in Fredericton, New Brunswick, said the MBO will help enhance its position in the Atlantic region and across Canada, and help accelerate its growth in the United States.
Partners Group has closed its previously announced buy of a controlling stake in Dynacast. No financial terms were disclosed for the transaction that was done with Kenner & Company and Dynacast's management. Based in Charlotte, North Carolina, Dynacast is a maker of custom metal components.
A consortium comprising private equity firms Bain Capital and Advent International has entered the race to buy Italian bank services provider ICBPI, filing a bid just short of 2 billion euros ($2.27 billion), sources told Reuters.
The GoGo Squeez fruit puree maker Materne SAS turned down European investment company Eurazeo SA's offer to buy it at 800 million euros ($906 million) last year, Bloomberg reported citing sources familiar with the matter.
Velvet Energy, an oil and gas exploration and production company focused on the Western Canadian Sedimentary Basin region, has closed $100 million in funding. Previous backers Warburg Pincus LLC, Trilantic Capital Partners and ZAM Ventures LP led the round.
Solis Capital Partners has invested in ML Kishigo Manufacturing Company, which makes industrial safety garments. ML Kishigo represents the fourth investment from Solis Capital Partners II.
Canadian coffee and doughnut chain Tim Hortons confirmed this week it will cut jobs as it reorganizes after being acquired by U.S. fast food chain Burger King for $12.64 billion last year, Reuters reported. Tim Hortons declined to provide exact figures on the number of employees to be affected, saying it is still in the process of reorganizing.
Ivanhoé Cambridge has partnered with Veritas Investments to buy more multi-family properties in San Francisco. The new investment, which totals over US$190 million, brings the number of properties jointly owned by Ivanhoé and Veritas to 20 in total. The properties reflect a total of 580 housing units to date. Ivanhoé, the real estate investment arm of the Caisse de dépôt et placement du Québec, began partnering with the U.S.-based Veritas in 2014.
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