Pamlico has backed DayNine Consulting. DayNine is a global Workday services partner. The business deploys and optimizes Workday Human Capital Management, Workday Payroll, Workday Financial Management, and Workday Recruiting for businesses of all sizes.
Baring Private Equity Asia has acquired a stake in UK-based global lifestyle brand company, Cath Kidston, from its existing majority shareholder TA Associates and members of the company’s management team. Baring Asia will have equal ownership with TA.
The fourth time is the charm for Lindsay Goldberg, which finally has found a buyer for First American Payment Systems.
Canadian merchant bank C.A. Bancorp, which was bought last year by CDJ Global Catalyst, has entered into a joint venture with U.S. insurance holding company Federated National Holding Co to form a property and casualty insurance carrier. Named Monarch National Insurance Co, the Florida-based carrier will have an initial capitalization of US$33 million from investments by C.A. Bancorp, Federated National and minority investor Transatlantic Reinsurance Co, a New York-based reinsurer. C.A. Bancorp and Federated National are expected to hold a 42.4 percent share in the new company's parent organization, Monarch Delaware Holdings LLC.
The fourth time is the charm for Lindsay Goldberg which has finally found a buyer for First American Payment Systems.
Trimel Pharmaceuticals Corp (TSX:TRL) has bought the Canadian rights for Estrace(R), a treatment for menopausal symptoms, from Shire Plc for $44.5 million. To finance the deal, Trimel has obtained a senior secured term credit facility with U.S.-based MidCap Financial LLC for up to US$25.0 million. Additionally, the company has obtained a convertible subordinated unsecured term note of US$25.0 million from First Generation Capital, a Canadian investment holding firm. Based in Mississauga, Ontario, Trimel develops medications for male hypogonadism, female sexual dysfunction and various respiratory disorders.
Augustus Advisors LLC, an affiliate of U.S. private equity firm TPG Capital, has contacted shareholders of Enercare Inc (TSX: ECI) about a possible buyout of the Toronto-based water heater company. Augustus, which indirectly owns 11.67 percent of Enercare's common shares, said TPG approached the company about a take-private deal nearly a year ago and has requested additional data prior to making a formal bid. In a letter sent to Enercare's board of directors in May, a purchase price of $13.50 to $15.00 per share was flagged, which The Globe and Mail estimates values the deal at $790 million. Augustus said that "disappointingly, the company’s board has not been receptive to pursuing a transaction."
First American Payment Systems LP has agreed to be bought by an investor group led by Ontario Teachers' Pension Plan. Members of the company's management team will also participate in the acquisition, whose financial terms were undisclosed. The seller in the deal is U.S. private equity firm Lindsay Goldberg, which originally invested in First American in 2003. According to a recent report from peHUB's Luisa Beltran, there have been repeated attempts in the past few years to sell the company. Based in Fort Worth, Texas, First American is a payment processor that provides electronic transaction processing services to merchants. Its sale is expected to be completed in August.
Urbanimmersive Technologies Inc has secured a convertible debenture investment totaling $150,000. The funding was provided by the Caisse de dépôt et placement du Québec, and if conversion rights under the debenture are exercised, the pension fund manager will now own about 13.5 percent of the company's common shares outstanding. Founded in 2007, Urbanimmersive is focused on developing Web and 3D immersive technologies for the real estate market. It has its headquarters in Laval, Québec.
Great Hill Partners has acquired yoga studio chain YogaWorks. No financial terms were disclosed.