New Orleans based private equity firm RLMcCall Capital Partners has teamed up with Austin, Texas-based private equity firm Dos Rios Partners to acquire Case Drilling & Pump Service. No financial terms were disclosed. Based in Stanton, Texas, Case Drilling is a provider of fresh water well drilling and maintenance services to contract drilling firms, E&P operators, agri-businesses, residential consumers and municipalities in West Texas.
Southern Cross Group has agreed to acquire Mexican magazine publisher Grupo Expansión from Time Inc. The deal is subject to regulatory approvals. Terms were not disclosed.
Apollo Global Management-backed Jupiter Resources has agreed to buy Encana's Bighorn assets in the Alberta Deep Basin for C$2 billion (before closing adjustments). The deal is subject to closing conditions and regulatory approvals and is expected to close in the third quarter.
Expedia, Inc., has agreed to acquire online car rental service Auto Escape Group from Montefiore Investment and members of the management team. Upon closing, Auto Escape Group will become part of the CarRentals.com brand. The deal is expected to close in the third quarter.
Merz, a specialty healthcare group, has agreed to buy Apposite Capital portfolio company Ulthera, which provides non-surgical lifting and tightening treatments. Apposite, the second largest shareholder in Ulthera, could make a return of more than 20x on its investment based on the terms of the agreement.
Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, and its partner Callahan Capital Properties, have bought a 49 percent interest in 330 Hudson, a 16-storey office building in New York City. The deal, which was valued at US$150 million, was done through a joint venture with affiliates of Beacon Capital Partners. The transaction is Ivanhoé's fifth acquisition made with Callahan, bringing the partners' U.S. office platform investments to more than US$2.1 billion.
FBC Holdings Sàrl and Cyrus Capital Partners, a U.S. distressed debt fund manager, have acquired common shares in Maudore Minerals Ltd (TSXV: MAO), a junior gold company based in Montréal. The transaction is in connection with Maudore's restructuring of its outstanding indebtedness to FBC. Upon the deal's closing, FBC will hold, and Cyrus will indirectly control, up to 54.8 percent of the outstanding capital of the company. In a separate release, Maudore said it also is considering a number of strategic alternatives. The company has more than 22 exploration projects located near the towns of Amos, Lebel-sur-Quévillon and Matagami, Québec.
The Canadian Transportation Agency has issued a "certificate of fitness" to Central Maine & Québec Railway Canada Inc for railway operations in this country that result from the purchase of Montréal Maine and Atlantic Railway Inc. Montréal Maine and Atlantic Railway was the company involved in the train derailment disaster in Lac-Mégantic, Québec in 2013. Driving the management of the new railroad business is U.S. private equity firm Fortress Investment Group, which won the rights to the assets of Montreal, Maine and Atlantic Railway and its Canadian affiliate in January.
Aluminum refiner Alcoa Inc expanded its aerospace business, announcing a $2.85 billion deal to buy Firth Rixson , which makes jet engine parts, from private equity firm Oak Hill Capital Partners, Reuters reported.
Ardian has agreed to buy Italmatch Chemicals from Mandarin Capital Partners and the Malacalza family. No financial terms were disclosed. Italmatch's management will retain a 12 percent stake in the firm. Headquartered in Genoa, Italy, Italmatch is a specialty chemicals provider.