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 Canada's buyout industry reported a record year in 2007, and it wasn't just because of the $46.8 billion buyout of BCE Inc. The Canadian Venture Capital Association said Tuesday the country logged 180 private equity transactions with a total value of $65.5 billion -- dominated, of course, by the Ontario Teachers Pension Fund-led buyout of the parent of Bell Canada, which is due to close in April. But CVCA president Rick Nathan said that even if you strip out the BCE deal, the value and number of buyouts set a record in 2007.
"Even in the absence of the Bell Canada deal, we have $18.7 billion of deals, which was more than double the 2006 total, which had been a record in itself," Nathan said at a press conference. In 2006, Canada recorded 105 buyouts worth $8.2 billion. Nathan, the managing director of Kensington Capital Partners Ltd. of Toronto, also said there were eight Canadian buyouts last year worth more than $1 billion -- a record for Canada, whose buyout market is dominated by midsized deals. Foreign investment accounted for about $10 billion of the 2007 buyouts, said the CVCA, which draws its data from Thomson Financial. Nathan said the value of deals fell in the third and fourth quarters, but the market remains fairly healthy as the midmarket deals that are Canada's bread and butter are not suffering from the financing problems that are afflicting the megadeals. - Peter Moreira See the press release from the CVCA [pdf] CategoriesPrivate capital video
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