An investor group made up of Alberta Investment Management Corp (AIMCo), Allianz Capital Partners, EDF Invest and Hastings Funds Management has closed its previously announced buy of Porterbrook Rail Finance Ltd, a rolling stock leasing company based in the United Kingdom. The financial terms of the deal were not disclosed. Update: Based in Edmonton, Alberta, AIMCo manages an investment portfolio totaling $80 billion.
TPG Capital Management LP has hired investment bank Lazard Group LLC to sell Australian gas and electricity retailer Alinta Energy in a deal worth about A$4 billion ($3.54 billion), three sources close to the transaction said.
AIMCo, Allianz Capital Partners, EDF Invest and Hastings have closed its buy of Porterbrook, a UK-based rolling stock leasing company. No financial terms were disclosed.
MTS Health Investors has recapitalized Celerion. No financial terms were disclosed. Celerion is a provider of clinical study solutions to pharmaceutical and biotechnology clients conducting early clinical research.
Palladium Equity Partners has sold Teasdale Foods to Snow Phipps Group. No financial terms were disclosed. Teasdale is a maker of bean and hominy products.
EnCap Flatrock Midstream has agreed to the sale of Nuevo Midstream to Western Gas Partners for $1.5 billion in cash. The deal is expected to close by year end, pending regulatory approvals and closing conditions. Nuevo, a midstream company focused on developing and operating natural gas gathering, compression, processing and treating, transportation and marketing services, was formed in April 2011 with an initial $65 million investment from EnCap and management. Equity commitments to Nuevo reached more than $300 million from an investor group led by EnCap Flatrock, management and Wells Fargo Energy Capital.
Platinum Equity has acquired a majority stake in ground engineering firm Grupo Terratest, a specialized international contractor. Terms of the deal were not disclosed.
Tonka Bay Equity Partners has sold AeroSystems Engineering, which provides testing and engineering services to the aerospace and energy markets, to Gen Cap America. Tonka Bay partnered with management to buy AeroSystems Engineering in 2006. Financial terms of the deal were not disclosed.
Canada's Competition Bureau has approved Burger King Worldwide Inc's acquisition of Canadian coffee chain Tim Hortons Inc. The agency said the combination is unlikely to result in a substantial lessening or prevention of competition. The $12.64 billion cash-and-stock deal, which is backed by Burger King majority investor 3G Capital, was announced in August. Data provider Preqin recently called it the largest private equity transaction so far in 2014.
Shareholders of Balfour Beatty Plc have given their approval to the sale of the company's subsidiary Parsons Brinckerhoff to WSP Global Inc (TSX: WSP). As reported by Reuters in September, the US$1.24 billion deal is intended to increase the Montréal-based WSP's footprint in the U.S. transportation sector. The Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board (CPPIB), which are long-time investors in WSP, are providing $400 million to fund the acquisition. It is expected to close in the fourth quarter.