Burlington, Mass.-based One Communications Corp. hired Blackstone Advisory Services LP as an adviser. One Communications, which is a provider of telecommunications services, plans to explore potential business alternatives. The review will evaluate options including merger and acquisition transactions. The review starts in mid-September. One Communications services small and mid-sized businesses in 18 states in the Northeast, Mid-Atlantic and Upper Midwest regions, plus Washington, D.C. One Communications agreed in July to sell its FiberNet fiber optic network to Ntelos Holding Corp. for about $170 million.
Sun Gro Horticulture Income Fund formed a special committee to explore strategic alternatives. The producer and distributor of peat moss and bark-based growing mixes will review the possible sale of the Canadian company, a merger and other business combinations. It also intends to evaluate the sale of all or a substantial portion of Sun Gro’s assets. The special committee hired Blair Franklin Capital Partners as a financial adviser to help with the review. Sun Gro won’t discuss the review process until a specific transaction is recommended by the board of trustees.
Petrolifera Petroleum Ltd.’s board of directors initiated a review of the company’s business plan. The board plans to consider strategic alternatives. It will look at potential asset divestitures, joint ventures, business combinations and the sale of the entire company. The Calgary, Canada-based concern also plans to evaluate financing and recapitalization opportunities. It formed a special committee to lead the process and the group is seeking to hire RBC Capital Markets to help with the review process. Petrolifera explores for and produces oil, gas and natural gas liquids.
Dynamotive Energy Systems Corp. is considering joint venture and commercial partnership opportunities. The Vancouver, Canada-based company has a technology that converts biomass residues and energy crops into fuel. Dynamotive receives expressions of interests from two parties that want to form strategic alliances. Its board authorized company executives to start exclusive negotiations with one of the parties. Cascadia Capital is serving as a financial adviser for the transaction. Dynamotive does not plan to discuss the process unless and until a definitive contract is reached.