Resilience Capital Partners has invested in Hynes Industries and Hynes Kokomo. Financial terms weren’t announced. Youngstown, Ohio-based Hynes is a North American manufacturer of rolled formed shapes, strip steel and flat wire. The Bresnahan family, which is the seller, will retain a minority ownership stake.
Struggling department store chain Sears Canada Inc reported its ninth loss in 14 quarters as sales continued to decline, Reuters reported. Same-store sales fell 6.8 percent in the second quarter ended August 2nd. Same-store sales at Sears's home and hardlines business dropped 9.3 percent. Earlier this month, it was reported that U.S. private equity firm Sycamore Partners was considering a bid for Sears Canada. A possible deal could fetch up to US$2 billion.
BluEarth Renewables Inc has bought Good Light, a 10 megawatt AC solar power plant located in Ontario's Kawartha Lakes region, for more than $66 million. The seller in the transaction was Canadian Solar Inc, which earlier this year also sold its Little Creek solar power plant to BluEarth for $53 million. Good Light and Little Creek are two of four planned solar power asset acquisitions from Canadian Solar. Based in Calgary, BluEarth is a renewable power producer focused on North American wind, water and solar projects. It has been a portfolio company of Canadian private equity firms ARC Financial Corp and Teachers’ Private Capital and other investors since 2010.
The Catalyst CEL Fund said on Thursday it had agreed to invest $42 million in Lamina Technologies, a Swiss-based maker of metal-cutting tools, Reuters reported.
Reno-based exploration company NuLegacy Gold Corp. has raised $3.5 million in funding from Waterton. According to terms of the transaction, Waterton acquired 28.25 million shares of NuLegacy Gold at $.125 per share.
Yorktown Energy Partners has invested in Vaquero Midstream, which provides gathering, treating, processing, compression, liquids handling and transmission services. Details of the transaction were not disclosed.
Bain Capital has agreed to invest in 'one for one' shoe, eyewear and coffee company TOMS. TOMS founder Blake Mycoskie will retain 50 percent ownership of the company. Financial terms of the deal were not disclosed.
Middle market firm Endless has agreed to acquire office2office, which provides business supplies and outsourced business services. The firm is making the investment through EVO Business Supplies Limited, a new company formed by Endless. The deal is subject to regulatory approvals.
A special meeting of holders of common shares and debentures in Arcan Resources Ltd (TSX-V: ARN) failed to approve the proposed acquisition and recapitalization of the company by Aspenleaf Energy Ltd. As a result, the deal, which has been estimated to value $325 million, has been terminated. Founded in 2013, the Calgary-based Aspenleaf is backed by Canadian energy-focused private equity firm ARC Financial Corp, Ontario Teachers' Pension Plan and other investors. Led by CEO Bryan Gould, it is pursuing an acquisition and exploit strategy in Western Canada focused on light oil and liquids-rich gas opportunities.
Brazilian miner Vale SA has completed the sale of a 26.5 percent stake in its cargo transportation division VLI SA to Canadian alternative assets investor Brookfield Asset Management. The transaction, which was first announced in late 2013, is valued at 2 billion reais ($971 million). Vale also sold a 20 percent interest in VLI to Japan's Mitsui & Co Ltd and a 15.9 percent interest to Brazil's Fundo de a do Tempo de Serviço-FGTS. Vale will retain 37.6 percent ownership in the business, which handles cargo operations not directly related to the movement of Vale's own output of iron ore and other minerals.