Vancouver private equity firm invests in Avison Young
Vancouver’s Tricor Pacific Capital Inc. has made a $40 million investment in Avison Young, one of Canada’s largest commercial real estate services companies.
Avison Young plans to use the proceeds of the investment to expand in Canada and the U.S. through acquisition into major markets in North America and add to its services offering.
As a result of the deal, Tricor’s Rod Senft and Bradley Seaman will join Avison Young’s board of directors.
Glacier Media acquires B.C. community papers, Victoria Times Colonist
Vancouver-headquartered Glacier Media Inc. (TSX:GVC) announced October 18 that it was acquiring 21 B.C. newspapers from Postmedia Network Inc. (TSX:PNC) for $86.5 million.
The deal included the Victoria Times Colonist and the community newspapers within Postmedia’s Vancouver Island Newspaper Group and the Lower Mainland Publishing Group.
The acquisition, which is expected to close November 30, includes related digital media assets and significant real estate properties. It significantly strengthens Glacier’s community newspaper and digital operations.
On November 14, Glacier also announced it acquired a 50% interest in InfoMine Inc., an online provider of global mining information. The deal adds to Glacier’s mining information group that includes the Northern Miner, Mining Markets, Diamonds in Canada and American Mines Handbook.
Maxam Capital acquires majority stake in Lions Investment Management
Vancouver merchant bank Maxam Capital Corp. has closed the acquisition of a 70% stake in Lions Investment Management for an undisclosed sum. As part of the deal, Lions Investment has become Maxam Capital Management Ltd. (MCM), and will manage two funds: Maxam Growth Strategies Fund and Maxam Diversified Strategies Fund.
Travis Dowie, Lions’ founder, and 30% owner of MCM, will continue to manage the two funds.
Canaccord closes 50% stake in Asian investment dealer
Canaccord Financial Inc. (TSX:CF) has closed the $42 million acquisition of a 50% stake in BGF Capital Group Pty Ltd., an independent investment dealer with operations in Australia and Hong Kong.
As a result of the purchase, BGF will be rebranded as Canaccord BGF. As part of the deal, Canaccord’s Paul Reynolds, Brad Kotush and Terry Lyons will join Canaccord BGF’s board of directors.
AuRico Gold completes acquisition of Northgate Minerals
Toronto’s AuRico Gold (TSX:AUQ) closed its $1.46 billion takeover of Vancouver’s Northgate Minerals (TSX:NGX) October 26. The deal creates a new company with five operating gold mines that will produce about 475,000 ounces a year.
The all-share deal saw Northgate shareholders receive 0.365 AuRico shares for each Northgate share. Based on the 20-day volume-weighted average price of both company’s shares, the deal represented a 45% premium to Northgate shareholders when the deal was announced August 29.
As a result of Northgate’s takeover, the Vancouver company cancelled plans to acquire Toronto’s Primero Mining (TSX:P) in a deal announced in July that would have been worth US$409 million. •
