Dicom Transportation Group, which was bought by U.S. private equity firm Wind Point Partners earlier this year, has acquired Time Logistics Couriers LLC. The financial terms of the transaction were not released. For Dicom, a Montréal-based provider of business-to-business transportation services, the deal represents an expansion of its platform into the United States. Time Logistics, which is a provider of business-to-business logistics services, has its headquarters in Norcross, Georgia. Dicom plans to undertake additional acquisitions in Québec, Ontario and the United States.
Harbert Private Equity Fund III has acquired Flight Display Systems. No financial terms were disclosed. VRA Partners provided financial advice to FDS on the deal. Also, Reed Macdonald has been named CEO of FDS. Based in Alpharetta, Georgia, FDS is a maker of cabin electronics for business and commercial aircraft.
Ohio-based CoverMyMeds, a healthcare tech firm, has received an undisclosed investment from Francisco Partners. First Analysis provided financial advice to CoverMyMeds on the transaction.
The debt-laden parent of outdoor advertising company Clear Channel Outdoor Holdings is exploring options for its European outdoor advertising business after receiving offers from private equity firms, sources told Reuters.
New State Capital Partners has bought United Medical Systems. No financial terms were disclosed. Based in Westborough, Mass., United Medical Systems is a provider of mobile medical equipment for hospitals, surgery centers and offices.
Cloud Equity Group has bought Just199 Hosting, a South Carolina-based low-cost web hosting provider. No financial terms were disclosed.
Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL) has increased its bid to acquire ShoreTel Inc (Nasdaq: SHOR) to around $547 million. The previous offer, announced last month, was priced at around $540 million. ShoreTel, a Sunnyvale, California-based business communications solutions provider, rejected the earlier proposal. Mitel president and CEO Richard McBee said the merger has the potential "to add sustained value to both organizations, and to solidify our combined leadership position in a highly competitive and rapidly consolidating market." The Ottawa-based Mitel is backed by Francisco Partners, Wesley Clover International Corp and other investors.
Avison Young Inc has agreed to acquire commercial real estate brokerage and property management company Abood Wood-Fay Real Estate Group LLC, which does business as Colliers International South Florida. The transaction's financial details were not published. Avison said the deal, which is expected to close this year, will expand its business-line coverage in Florida. Based in Toronto, Avison is a commercial real estate services provider and a portfolio company of Canadian private equity firm Tricor Pacific Capital. In September, Tricor made a second investment in Avison, adding to the original $40 million it invested in 2011.
Extendicare has agreed to sell substantially all of its U.S. business operations to an investor group led by U.S. private equity firm Formation Capital and Safanad for US$870 million. The deal is expected to be closed in early 2015. Based in Markham, Ontario, Extendicare is a North American provider of post-acute and long-term senior care services.
Canadian healthcare private equity firm Persistence Capital Partners (PCP) has made an investment in LMC Diabetes & Endocrinology, a Canadian endocrinology practice. The financial terms of the deal were not released. Operating with a network of nine clinics in Alberta, Ontario and Québec, LMC provides community-based care to diabetics and endocrinology patients with a focus on education, research, service excellence and meeting medical needs. The company's partnership with PCP is intended to support growth of its model across Canada. The investment follows PCP's acquisition last month of the occupational health clinical services business of Morneau Shepell Inc.