Genstar Capital-backed MW Industries, which provides springs, fasteners and machined parts, has acquired Futuristics Components, which makes components for microwaves, electronics, defense, aerospace and related industries. Futuristics Components will be integrated into MW Industries' RAF Electronic Hardware division.
Polaris Private Equity has agreed to buy Louis Poulsen Lighting, a supplier of architectural lighting. Louis Poulsen's management team will continue to run the company on a daily basis.
Partners Group has acquired a majority stake in Fermaca, a gas infrastructure operator in Mexico, in an about $750 million deal. Partners Group made the investment alongside company management using a combination of mezzanine debt and equity.
Canadian private equity firm Waterton Global Resource Management is making an offer to acquire 100% of the common shares of Chaparral Gold Corp (TSX: CHL) not already held by the firm at a price of $0.50 per share. The deal has been estimated to value $58.8 million. Waterton currently owns 2.9% of the shares in Chaparral, a Scottsdale, Arizona-based precious metals producer focused on development projects in Nevada. The company has issued a statement about Waterton's unsolicited proposal, saying that net of the Chaparral's working capital it implies a negative value for mineral properties. As previously reported by peHUB, Waterton is currently raising its second mining-focused fund, targeted at US$750 million.
Canadian mid-market private equity firm Fulcrum Capital Partners has invested in Lift Philanthropy Partners, which is focused on supporting the impact and sustainability of social purpose organizations in order to improve the health and productivity of Canadians. Fulcrum made a $150,000 commitment to Lift over a three-year period. Founded in 2011, Lift is based in Vancouver.
Ivanhoé Cambridge has entered into a partnership to build Projet QB, a mixed multi-residential and commercial complex that will feature more than 400 rental units and 200 condominiums in the Cité-Universitaire district of Québec City. The initiative will get underway with an initial investment of over $50 million, in partnership with a group of local investors led by Pierre Moffet and under a co-development agreement with SDLP, the real estate division of Sobeys Inc. Ivanhoé Cambridge is the real estate investment arm of Canadian pension fund manager the Caisse de dépôt et placement du Québec.
LifeLabs Medical Laboratory Services Inc has purchased the Canadian business division of Germany's Centogene AG, a specialist in genetic diagnostics for rare hereditary diseases. The financial terms of the deal were not published. According to LifeLabs, the acquisition places the company in a leadership role in genetic testing in Canada. In Oct. 2013, LifeLabs acquired CML HealthCare Inc, a Mississauga, Ontario-based diagnostic laboratory and medical imaging provider for $1.2 billion. Formerly knowns as MDS Diagnostic Services, LifeLabs was bought in 2007 by Borealis Infrastructure, an investment arm of the Ontario Municipal Employees Retirement System.
Private equity isn't known for investing in the wedding banquet sector but that didn't stop Prospect Partners.
Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, has agreed to provide a "substantial investment" in MaintenanceNet. No financial terms were disclosed. Headquartered in Carlsbad, Calif., MaintenanceNet is a provider of service annuity solutions.
TPG has completed its previously announced acquisition of Arden Group, the parent company of Gelson's Markets, which operates specialty grocery stores in Southern California. According to terms of the agreement, Arden Group's shareholders will receive $126.50 per share in cash for each share of Arden Group common stock they hold. As a result, the stock will no longer trade on the NASDAQ.