Bob Geldof's African private equity fund said on Tuesday it has acquired a 42 percent stake in Orient Bank, a medium-sized Ugandan commercial bank to tap into a growing economy and a largely unbanked population, Reuters News reported.
Private equity firm Onex Corp is looking to sell Sitel Worldwide Corp in a deal that could value one of the world's largest call center operators at close to $1 billion, including debt, Reuters News reported.
Business software vendor K2 is in no rush to go public -- and now it doesn't have to, thanks to an investment of more than $100 million from Francisco Partners.
The Peace Naturals Project Inc, a Stayner, Ontario-based company licensed to produce and sell medical marijuana, has agreed to acquire MedCannAccess, which operates in the same sector. The financial terms of the deal, which is expected to close in the second quarter, were not released. Peace Naturals is a portfolio company of PharmaCan Capital Corp, a merchant bank focused on investing in Canada’s medical marijuana industry.
Fairfax Financial Holdings has agreed with a syndicate of underwriters to raise $650 million in a bought deal financing. The offering of subordinate voting shares, which is expected to close on March 3rd, is intended to help finance Fairfax's proposed purchase of Brit Plc, a specialty insurer and reinsurer. The Toronto-based Fairfax said it may raise additional funding for the US$1.88 billion acquisition through debt and/or preferred share issuances. Headquartered in London, United Kingdom, Brit is a portfolio company of Apollo Global and CVC Capital Partners.
Riverbed Technology Inc and Project Homestake Merger Corp have announced that the latter intends to privately offer US$575 million of senior notes. Net proceeds of the offering will contribute to the funding of the acquisition of Riverbed by U.S. private equity firm Thoma Bravo and Teachers' Private Capital, an investment arm of Ontario Teachers' Pension Plan. The deal, which was announced in late 2014, is priced at US$3.6 billion. Based in San Francisco, Riverbed is a network equipment maker.
The Riverside Company has made an undisclosed investment in Advanced InfoData Systems GmbH. Based in Germany, AIS is a logistics software company.
Snow Phipps Group LLC has acquired a majority stake in Cascade Environmental Services LLC. The seller was Emigrant Capital Corp. Houlihan Lokey was financial advisor to Cascade on the transaction. Cascade is a provider of environmental and geotechnical services in the U.S.
A Canadian aboriginal community that has partnered with Steelhead LNG on a proposed major liquefied natural gas export terminal plans to decide within months whether to take an equity stake in the $30 billion project, Reuters reported. The Huu-ay-aht are working with the Vancouver-based company on the planning and design of the plant on their land in British Columbia. Steelhead is backed by Canadian private equity firm KERN Partners.
Thoma Bravo has bought Atlanta-based PowerPlan, a provider of of accounting, tax and capital budgeting optimization solutions for capital asset-intensive businesses. The sellers were JMI Equity and TPG Growth. No financial terms were disclosed. William Blair provided financial advice to PowerPlan on the transaction.
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