New York (HedgeCo.Net) – The Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada with C$140.8 billion of net assets, has agreed to acquire a 29.7% interest in USD 10 billion hedge fund Pamplona Capital Management’s CSC ServiceWorks.
The transaction was led by the pension plan’s private equity group, Teachers’ Private Capital (TPC), which has approximately $15 billion of invested capital.
“We are delighted to be partnering with Teachers’ Private Capital, one of the world’s leading investment groups, as we seek to further develop CSC as the premier provider of laundry and air vending services,” said Robert Warden, a partner at Pamplona.
“CSC is a high-quality, stable business with excellent growth prospects and we are delighted to be investing alongside Pamplona,” said Jane Rowe, Senior Vice-President of TPC.
Last month Pamplona agreed to buy Mobile, Alabama-based BBB Industries, a leading manufacturer and distributor of automotive parts. Other transactions this year have included the sale of an 8.5% stake in oil services company Nabors Industries Ltd; the acquisition of Beacon Rail Leasing, a leading lessor of locomotives in the UK and Europe, for $450 million; and of a majority stake in Alvogen, one of the fastest growing generics companies in the pharmaceuticals industry.
Alex Akesson
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