Abu Dhabi-based investment company Waha Capital has agreed to vote in favour of AerCap’s proposed acquisition of International Lease Finance Corporation from American International Group. Under the deal, AerCap will acquire 100% of the common stock of International Lease Finance Corporation. Waha Capital is the largest shareholder of New York-listed AerCap Holdings N.V. with a 26.3% stake.
American Tire Distributors Inc (ATD) has acquired 100% of the shares of Wholesale Tire Distributors Inc, a Vaughan, Ontario-based company focused on tire supply and related services. The financial terms of the transaction were not published. This is the company's second acquisition in Canada this year. In May 2013, ATD also bought Regional Tire Distributors Inc of Burlington, Ontario for US$62.5 million. With its headquarters in Charlotte, North Carolina, ATD is a portfolio investment of U.S. private equity firm TPG Capital, which bought the company in 2010 from Investcorp, Berkshire Partners and Greenbriar Equity.
Constellation Software Inc (TSX: CSU) has agreed to buy Total Specific Solutions B.V., a Dutch provider of software solutions to healthcare organizations, governments and financial institutions, for EUR 240 million (approximately C$350 million). In conjunction with the deal, which is expected to close before the end of 2013, Constellation has amended its existing credit facility to add a term loan of US$350 million to be used for the purposes of funding the acquisition and related expenses. The Toronto-based Constellation, which is focused on acquiring, managing and building vertical market software businesses, is a portfolio company of OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System.
Mitel Networks Corp (TSX:MNW) (Nasdaq:MITL) has received approval from Industry Canada to proceed with its previously-announced $400 million buy of Aastra Technologies Ltd (TSX:AAH), an enterprise communications company based in Concord, Ontario. The deal's approval under the Investment Canada Act is one of the final steps in its closing, which is expected to take place in early 2014, subject to the approval of Aastra shareholders and other conditions. Mitel, an Ottawa-based cloud and communications software solutions provider, is majority-owned by U.S. private equity firm Francisco Partners and Dr. Terence Matthews. Osler, Hoskin & Harcourt LLP is acting for Mitel in the transaction.
Pender West Capital Partners has bought Overland Container Transportation Services Corp (OCTS), an intermodal container transportation and storage services provider based in Edmonton. The seller in the undisclosed transaction was Jean-Marc Binette, the company's founder, who said the partnership with Pender West would help implement a successful succession plan. Established in 1991, OCTS works with shipping lines, freight forwarders, and direct customers and producers to ensure pick-up, delivery and storage of international cargo containers for import and export in Western Canada. Pender West is a Vancouver-based family office manager that invests directly in mid-market businesses.
The planned sale of Parex, the industrial mortars business of construction company Materis, has stalled after bids failed to meet price expectations of about 1 billion euros ($1.37 billion), Reuters reported.
Blackstone, CCMP Capital and Investcorp are the remaining candidates in a bid to buy a stake in Italy's Versace, sources told Reuters.
Global fund manager IFM Investors has inked an agreement to provide approximately $1.3 billion in equity funding for Freeport LNG's proposed natural gas liquefaction and LNG loading facility near Freeport, Texas. The transaction is expected to close in mid-2014. Macquarie Capital and Credit Suisse are serving as financial advisors to Freeport LNG.
Avista Capital Partners has acquired a controlling equity stake in Vertical Pharmaceuticals and Trigen Laboratories. No financial terms were disclosed. Also, as a result of the transaction, Avista's Brian Markison has been appointed executive chairman of Vertical/Trigen Holding's board of directors. Vertical/Trigen is a specialty pharmaceutical company that develops and markets both branded and generic prescription drugs in the U.S.
Private equity firm Ardian has agreed to buy a majority stake in the NHV Group. Ardian teamed up with Eric Van Hal, CEO and co-founder of the NHV Group, in the transaction. No financial terms were disclosed. Based in Ostend, Belgium, NHV Group is a provider of helicopter transport services.