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Apax has agreed to sell TriZetto Corporation. The business is being sold to Cognizant Technology Solutions Corp for $2.7 billion in cash.
Thomson Reuters has put several of its specialty publications on the block, including peHUB, Buyouts and Venture Capital Journal, two sources said.
U.S. private equity powerhouse TPG Capital is backing the global expansion plans of a Montréal-based specialist in energy efficiency. SMi-Enerpro, a division of The SM Group International (SMi), provides customized solutions for lowering energy consumption in the real estate sector. The company's goal, in short, is smarter, greener buildings that get more out of energy dollars.
The acquisition of Canadian coffee and doughnut chain Tim Hortons Inc by Burger King Worldwide Inc will occur through a $12.6 billion cash-and-stock deal, Reuters reported. Burger King has secured commitments for US$12.5 billion of funding for the cash portion of the transaction. The new fast-food restaurant group, which will be majority owned by U.S. private equity firm 3G Capital, will be Canadian domiciled, with listings on both the New York Stock Exchange and the Toronto Stock Exchange.
H.I.G. Capital is betting it can find big value in struggling companies in the lower end of the market.
Grenada's St. George’s University (SGU) was a couple of weeks ago the focus of a US$750 million control-stake transaction involving an investor group led by Canadian private equity firm Altas Partners and a fund advised by Baring Private Equity Asia. Altas partnered with OPTrust Private Markets Group in the SGU deal, which is its second since the firm's launch in 2012 by former Onex Corp managing director Andrew Sheiner. It marks an important step for an investor that has sought to blaze a new path in PE dealmaking.
ONCAP, the mid-market platform of Canadian private equity Onex Corp, has confirmed plans to sell U.S. car wash chain Mister Car Wash. A second quarter financial statement by Onex did not specify the buyer, but earlier reports have indicated it will be U.S. private equity firm Leonard Green & Partners. ONCAP is likely to take home approximately US$380 million in net proceeds from the deal. This translates into a gross multiple of capital invested of about 8x and a gross IRR of 36 percent.
Clairvest Group has closed its fifth partnership, Clairvest Equity Partners V LP (CEP V), at its $600 million hard cap. By all measures, fundraising this time around has surpassed past efforts by the Toronto-based mid-market private equity firm. CEP V is by far the largest third-party partnership in Clairvest's 27-year history. CEP IV, which closed in 2011, raised $467 million.
Smiles were brighter at Canadian private equity firm Imperial Capital Group and OPTrust Private Markets Group (PMG) this week as the two organizations completed a joint $121 million majority investment in Dental Corp, a group of Canadian dental care clinics. The investment is the largest in Imperial's 25-year history and its fifth healthcare deal. The transaction also holds significance for OPTrust PMG, which recently flagged an interest in sourcing more direct investment opportunities.
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