Almatis
Sector: Diversified
In 2003, we participated with our partner Rhône Group in the corporate spinout of Alcoa Inc.'s specialty chemicals division, which was subsequently renamed Almatis. Headquartered in Frankfurt, Germany, Almatis is a leading producer of alumina-based specialty chemicals used primarily in the production of refractories. We supported Almatis' expansion plans to become a stand-alone global business that was well positioned to meet its customers' demands. We sold our interest in the company to Dubai International Capital in December 2007.
Website: www.almatis.com

Doane Pet Care Enterprises
Sector: Consumer & Retail
In 2005, we led the buyout of Doane Pet Care, the largest private label and third-party manufacturer of pet food in North America. We purchased Doane (in a limited and informal auction) because of its intricate distribution capabilities and strong management team. In 2006, Doane was sold to Mars Inc., one of Doane's largest customers, and one of the largest manufacturers and distributors of pet food in the world whose brands include Pedigree, Greenies and Nutro. Mars was looking to capitalize on the distribution capabilities of Doane for their business, while also further consolidating the North American pet food business.

Osprey Media Group
Sector: Technology, Media & Telecommunications
We were one of the founding equity investors in the creation of the Osprey Media Group, a management-led buyout of 31 community publications from Hollinger Canadian Newspapers in 2001. We provided additional financing for the subsequent acquisition of publications from the Canwest Global Communications, to form one of the largest community newspaper companies in Canada. Osprey Media Income Fund was taken public in 2004, and the company was eventually acquired in 2007 by Quebecor Media.
Website: www.ospreymedialp.com

Trimac
Sector: Business Services
In 2000, we participated along with the McCaig family in the privatization of Trimac Inc., one of North America's largest bulk haulage trucking companies. Through our investment, we supported management as they refocused on the company’s core trucking business. After a successful public offering of the Canadian trucking business in 2005, we sold our remaining interest in the U.S. trucking assets back to the McCaig family in 2007.
Website: www.trimac.com

Samsonite
Sector: Consumer & Retail
In 2003, we participated in the recapitalization of Samsonite, one of the world's largest manufacturers and distributors of travel luggage. Investing alongside our partners, Ares Corporate Opportunities Fund and Bain Capital (Europe), the recapitalization allowed Samsonite to deleverage its balance sheet and positioned the company for growth.The company was sold in 2007 to a private equity buyer.
Website: www.samsonite.com

Shoppers Drug Mart
Sector: Consumer & Retail
We were the sole Canadian firm to participate with KKR, Bain Capital, DLJ Merchant Banking Partners, and others in the $2.6-billion buyout of Shoppers Drug Mart, Canada’s largest drug store chain, in 2000. With our partners, we supported management’s initiative to expand to a new larger store format, and launched a successful IPO in 2001. The pension fund continues to be a shareholder.
Website: www.shoppersdrugmart.ca

Worldspan
Sector: Business Services
Worldspan is a leading global provider of mission-critical electronic global distribution and information technology services to the travel industry. In June 2003, we partnered with CVC to purchase Worldspan. Together, we supported management through the implementation of significant cost reduction initiatives and the revitalization of the management team. This resulted in the increase of operating cash flow to reduce debt subsequent to the leveraged buyout. In December 2006, Worldspan merged with Travelport Inc., a Blackstone Partners portfolio company.

Yellow Pages Group
Sector: Technology, Media & Telecommunications
In 2002, we participated in one of the largest buyouts in Canadian history, the $3-billion acquisition of Yellow Pages telephone directories business with KKR. We subsequently supported the company to make its own acquisitions including the Canadaplus.ca city sites network and SuperPages in western Canada, which created a national platform for Yellow Pages’ directory business. The company later converted to a successful income trust and we continue to be a shareholder.
Website: www.ypg.com