Canadian private equity firm Ironbridge Equity Partners has made an undisclosed investment in M&M Resources Inc, a Fort Nelson, British Columbia-based energy services company. The deal, which was done in partnership with the company's management, is intended to support M&M Resources' continued growth as a provider of land-clearing and trucking services to the oil and gas industry in northeast British Columbia and northwest Alberta. In April, the Toronto-based Ironbridge completed the final close of its second mid-market fund, Ironbridge Equity Partners II LP, raising $154 million in total. M&M is Fund II's third investment to date.
Succession Capital, a subsidiary of Canadian private equity firm Lynx Equity, has acquired Sienna Sky Jewelry. No financial terms were disclosed. Based in Longmont, Colorado, Sienna Sky Jewelry is a manufacturer and distributor of fashion jewelry. Update: Sienna Sky is Succession’s second acquisition this month and joins its portfolio of over thirty-five companies including jewelry manufacturers JewelPop and H.J. Sherman. The Toronto-based Lynx is focused on acquiring small to medium-sized businesses from owners looking to retire.
Burger King Worldwide Inc plans to buy coffee and doughnut chain Tim Hortons Inc in a cash and stock deal to create the world's third-largest fast food restaurant group, with sales of about US$23 billion, Reuters reported. The company is to be based in Canada, its largest market. New York-based private equity firm 3G Capital, Burger King's majority owner since 2010, is expected to retain about 51 percent of the combined business.
Chevron Corp has been searching for up to US$1.5 billion of equity investment to help develop its Duvernay shale formation assets in Canada and contacted potential investors, including private equity firms, sources told Reuters. Chevron commenced an exploration program in the Duvernay in 2011 and, as of August 2014, had drilled 15 wells, completed 13 using multi-stage hydraulic fracturing, and tied in 10 wells to existing third-party processing facilities. The area is located northwest of Edmonton.
Chevron Corp (CVX.N) has been searching for up to $1.5 billion of equity investment to help develop its Duvernay shale formation assets in Canada and contacted potential investors including private equity firms, sources told Reuters.
Succession Capital, a subsidiary of Lynx Equity, has acquired Sienna Sky Jewelry. No financial terms were disclosed. Based in Longmont, Colorado, Sienna Sky Jewelry is a maker of fashion jewelry.
Private equity investor Lone Star has sold commercial property lender Duesseldorfer Hypothekenbank AG, quitting the second of three investments it has made in the German banking sector over the last decade, Reuters reported.
Burger King Worldwide Inc plans to buy Canadian coffee and doughnut chain Tim Hortons Inc , Reuters reported, in a cash and stock deal to create the world's third-largest fast food restaurant group.
KKR has agreed to invest about $400 million for an 18% stake in Sunner. Based in China, Sunner is a chicken meat producer.
Brentwood Associates has acquired Marshall Retail Group, a specialty retailer for marketplaces in major casino-hotels and airports in the U.S. Golub Capital was the lead arranger for the debt financing supporting the acquisition.