Canada Goose, a manufacturer of extreme weather outerwear, is to sell a majority stake in the company to Bain Capital. Dani Reiss will remain president and CEO and continue to own a significant minority stake in the company. Financial terms of the private transaction were not disclosed.
AXA Investment Managers has extended its investment operations outsourcing mandate with State Street for an additional five years. State Street was first appointed by AXA IM in December 2004 to provide middle-office services, including transaction management, investment books and fund accounting, collateral management, performance measurement and reporting.
South Korean financial regulators approved private equity firm MBK Partners' 1.84 trillion won ($1.75 billion) purchase of ING Groep's local insurance unit, writes Reuters. MBK and ING announced the deal in late August as the bailed-out Dutch firm is obliged to offload more than 50 percent of its Asian operations by the end of 2013.
CapX Partners has provided $10 million in equipment financing for Walnut Hill Physicians’ Hospital. The hospital is a 100-bed acute care start-up being developed in Dallas, TX.
Quotient Clinical, a provider of outsourced, early stage drug development services to the pharmaceutical industry, has been acquired from the Quotient Bioresearch Group by Bridgepoint Development Capital. Financial details were undisclosed.
Investec Growth & Acquisition Finance has provided a financing facility to support the management buyout of City & County Healthcare Group, a UK home care provider. The facility has been provided to Graphite Capital, a UK mid-market private equity specialist, to underwrite its backing of the MBO from Sovereign Capital Partners.
Canada Goose Inc, a Toronto-based manufacturer of extreme weather outerwear, has agreed to be bought by U.S. private equity firm Bain Capital. The financial terms of the deal were not published. Dani Reiss, president and CEO of Canada Goose, will continue to own a significant minority stake in the company. In a statement, Reiss said the partnership with Bain would help Canada Goose to accelerate its global growth, and "amplify what has driven our success for the last 15-plus years." Founded in 1957, Canada Goose today sells its apparel products in over 50 countries. Bain has previously done a number of deals in Canada, including its Feb. 2013 investment in BTI Systems Inc, and its on-going investment with the Caisse de dépôt et placement du Québec in BRP Inc.
Future Security Controls (FSC), a provider of physical security systems and services in Canada, has been acquired for an undisclosed amount by Convergint Technologies LLC, a Schaumburg, Ill.-based provider of integration services for security, fire and life safety, building automation and healthcare systems. FSC, which has offices in Ottawa and Toronto, will be integrated with Convergint, which is a portfolio company of U.S. private equity firm KRG Capital Partners. KRG completed a recapitalization of the company last year.
The court-appointed monitor for struggling Canadian wireless startup Mobilicity has extended the deadline for suitors to bid for the company by a week to Dec. 16, a regulatory filing shows, reports Reuters. Bidders for the Toronto-based startup, which filed for court protection from its creditors earlier this year, now have until noon next Monday to submit their offers in the court-supervised auction, according to a document posted on the website of monitor Ernst & Young Inc. The largest of Mobilicity's creditors, private equity firm Catalyst Capital Group Inc, wants the startup to merge with Wind Mobile, the biggest of the new players in the Canadian mobile market, and would put resources behind such a move, a Catalyst spokesman said on Monday.
GE Capital has provided a $10 million senior credit facility to a group of investors to purchase and operate Universal Helicopters Newfoundland and Labrador (UHNL), a regional helicopter services company formerly owned by Harry R. Steele and Norman Noseworthy. The investor group is comprised of Nunatsiavut Group of Companies, Tasiujatsoak Trust and CAPE Fund, a Canadian private equity fund focused on investing in aboriginal businesses and entrepreneurs. The financial terms of previously-announced acquisition agreement were not disclosed. Based in Goose Bay, Labrador, UHNL operates 20 helicopters and provides passenger transport, mineral exploration, search and rescue, forest fire suppression, and other services.