The Ontario Teachers’ Pension Plan is joining a consortium to purchase RSA Security in an all-cash transaction for more than $2.07 billion, subject to certain adjustments.
RSA is a cybersecurity company that provides business-driven solutions for managing digital risk. The deal includes subsidiary companies RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference.
In another deal, Duo Bank of Canada, a financial services firm supported by Ontario Teachers’, Stephen Smith and Centerbridge Partners L.P., is purchasing all outstanding shares of Fairstone Financial Holdings Inc.
Montreal-based Fairstone is a non-bank provider of responsible credit solutions for near-prime borrowers.
“This transaction creates a strong and diversified Canada-based financial services entity that has robust finances, operational excellence and a history of delivering top-line and earnings growth,” said Jane Rowe, executive managing director of equities at Ontario Teachers’, in a press release. “We look forward to working with our partners, Stephen Smith and Centerbridge, to support the combined company’s future success.”
In other investment news, Knowlton Development Corp., a company partly owned by the Caisse de dépôt et placement du Québec, is acquiring Zobele Group, an Italian manufacturer of home and air care products.
The Caisse, along with a group of other investors, acquired Knowlton, a manufacturer of beauty, personal care and household brands, in December 2018, following previous investments in the company.
“Since our initial investment in 2014, KDC/One has made a series of complementary international acquisitions, allowing the company to grow and diversify while consolidating its position as one of the most innovative manufacturers in the world,” said Charles Émond, president and chief executive officer of the Caisse.
Another Caisse portfolio company, Eddyfi/NDT, is acquiring Norway-based Halfwave, which owns proprietary technology relevant to the pipeline inspection services firm’s business.
“In addition to successfully executing its ambitious growth plan, Eddyfi/NDT has demonstrated a strong ability to integrate companies into its portfolio, becoming today a world leader in its industry,” noted Émond in another release.