CANADA - Teachers' Private Capital (TPC), the private equity arm of the CAN$85bn Ontario Teachers' Pension Plan, has bought home products manufacturer of home products CFM Corporation for an undisclosed sum.
“CFM has a heritage of excellent product quality, customer relations and market presence,” said Jim Leech, senior vice president of TPC.
“With a new CEO and the necessary financial resources in place, we are confident CFM is positioned for success.”
As part of the acquisition, Larry Robinette was named chief executive officer.
CFM operates in North America and the UK. Under terms of the deal, CFM shareholders will receive CAN$1.50 per share.
TPC has more than CAN$7bn in capital and is one of Canada’s largest private investors. It specialises in providing private equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for infrastructure and timberland assets.
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