Z Capital Partners was named the successful bidder in the auction of the Carillon Hotel and Spa, which is currently being operated as Canyon Ranch Hotel & Spa in Miami Beach. Z Capital's Thomas Wicky, who has experience managing resorts, will play a role in managing the investment.
The Riverside Company has acquired DMA Corporation, which provides profitability analysis to banks and credit unions. The Beaverton, Oregon-based companies have customers in the U.S. and Canada. Riverside plans to expand DMA through add-on acquisitions.
EFT Source Inc, a provider of turnkey card programs and personalization services for ATM and debit cards, has agreed to be acquired by long-time partner CPI Card Group. The financial terms of the deal were not released. CPI, a manufacturer of financial payment cards and related products, said the acquisition will combine capabilities of the two businesses and increase its capacity to deliver more customized programs, superior card production and greater personalization services to the financial industry. Based in Littleton, Colorado, CPI has been a portfolio company of Canadian private equity firm Tricor Pacific Capital since July 2007.
The Audax Group has exited TriMark USA after a near eight-year hold.
SCM Insurance Services, a portfolio company of Canadian private equity firm TorQuest Partners, has bought the property and casualty divisions of Granite Global Solutions Inc. The acquired businesses, Granite Claims Solutions, Granite Health Solutions, CKR Global and Rochon Engineering, were sold for an undisclosed price by U.S. private equity firm Genstar Capital, which bought Granite in 2010. With headquarters in Edmonton, SCM is a provider of claims management and outsourced services and has been backed by TorQuest since 2010. TorQuest was profiled by peHUB Canada last September following the close of TorQuest Partners Fund III at $535 million.
Ontario Drive & Gear Ltd has been bought by U.S. private equity firms Aperion Management and Falcon Investment Advisors for an undisclosed amount. The deal, which was done in partnership with company management, was also joined by ORIX Corporate Capital and Ocean Avenue Capital Partners. The primary seller of Ontario Drive & Gear was U.S. private equity firm Stone Arch Capital, which acquired the business in January 2006. Based in New Hamburg, Ontario, Ontario Drive & Gear is a manufacturer of amphibious utility/extreme terrain vehicles for commercial and recreational use under the Argo brand. It was founded in 1962.
Burger King is in talks to acquire coffee and doughnut chain Tim Hortons Inc in a deal that would create a fast food powerhouse with a market capitalization of roughly US$18 billion, Reuters reported. Burger King and Tim Hortons recently confirmed their merger discussions, saying the new Canada-based business would be the world's third-largest quick service restaurant. The companies said U.S. private investment firm 3G Capital, the owner of Burger King, would continue to own the majority of the shares in the new combined entity on a pro forma basis.
ICV Partners said late Monday that it has sold Marshall Retail Group to Brentwood Associates. Financial terms weren’t announced. Las Vegas-based Marshall Retail Group is an operator of specialty retail stores in the casino resort marketplace. News of the sale was reported by peHUB last week.
U.S.-based Apollo Global Management (APO.N) is in exclusive talks to buy Portuguese insurance company Tranquilidade, part of the troubled web of businesses of the Espirito Santo family, for some 200 million euros ($264.6 million), a source told Reuters.
Tellermate Holdings Limited has received an undisclosed investment from Brookside Equity Partners. Headquartered in Newport, Wales, Tellermate is a provider of weight-based cash counting equipment.