Kirk Falconer, Author at PE Hub https://www.pehub.com For the world's private equity markets Fri, 27 Oct 2023 21:34:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 NFL ownership rule changes will help PE firms score more deals https://www.pehub.com/nfl-ownership-rule-changes-may-help-private-equity-run-up-the-score/ Fri, 27 Oct 2023 18:53:19 +0000 https://www.pehub.com/?p=20000003678752 Clearlake, RedBird, Arctos and Blue Owl are among the PE firms investing in teams.

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]]> Blackstone forecasts wave of companies requiring refinancing and seeking structured equity https://www.pehub.com/blackstone-tac-opps-billions-of-dry-powder-poised-for-more-interesting-market/ Thu, 31 Aug 2023 12:02:43 +0000 https://www.pehub.com/?p=20000003676106 Tac Opps, at home in periods of dislocation, is ready to seize on multiple deal opportunities following 'the fastest and highest rate rise in history,' global head David Blitzer says.

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]]> Deal of the Year: KKR’s exit of CHI Overhead Doors https://www.pehub.com/deal-of-the-year-kkrs-exit-of-chi-overhead-doors/ Mon, 03 Apr 2023 04:10:56 +0000 https://www.pehub.com/?p=20000003669262 KKR does well by doing good as it shares the wealth with workers and CHI as part of its employee ownership program.

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]]> Women in PE, class of 2023: Kate Wallman https://www.pehub.com/women-in-pe-the-class-of-2023-kate-wallman/ Wed, 01 Mar 2023 04:45:53 +0000 https://www.pehub.com/?p=20000003667838 Wallman's ascent to managing director at Encore Consumer Capital was fueled by her 'leading an outsized share of new deals' she says.

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]]> Women in PE, class of 2023: Suyi Kim https://www.pehub.com/women-in-pe-class-of-2023-suyi-kim/ Wed, 01 Mar 2023 04:45:02 +0000 https://www.pehub.com/?p=20000003667842 Kim, global head of private equity at Canada Pension Plan Investment Board, was the 'first female private equity professional in South Korea' when she joined Carlyle in 2002. The novelty caused some confusion, including being mistaken for a secretary.

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]]> Blackstone doubles down on tech PE deals, sets up Silicon Valley team https://www.pehub.com/blackstone-sets-up-west-coast-team-to-access-tech-dislocation-opportunities/ Thu, 25 Aug 2022 13:00:47 +0000 https://www.pehub.com/?p=20000003658614 'Private markets will ultimately follow the lead of public markets,' says senior managing director Sachin Bavishi. 'It creates an interesting environment for us, an environment that for deploying capital is more favorable than it was in 2021.'

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]]> TPG-backed CLEAResult buys ChooseEV; Thoma Bravo raises $20bn-plus for Fund XV https://www.pehub.com/tpg-backed-clearesult-buys-chooseev-thoma-bravo-raises-20bn-plus-for-fund-xv/ Thu, 12 May 2022 13:38:17 +0000 https://www.pehub.com/?p=20000003653552 Blackstone buys Geosyntec.

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]]> Turnaround deal of the year: KPS Capital Partners and TaylorMade https://www.pehub.com/turnaround-deal-of-the-year-kps-capital-partners-and-taylormade/ Fri, 01 Apr 2022 15:51:41 +0000 https://www.pehub.com/?p=20000003651026 TaylorMade was buried in the bunker until KPS made a brilliant sand save.

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]]> DOWNLOAD: North American fundraising soars in 2021, brings in $475bn of fresh capital https://www.pehub.com/download-north-american-fundraising-soars-in-2021-brings-in-475bn-of-fresh-capital/ Mon, 31 Jan 2022 22:10:09 +0000 https://www.pehub.com/?p=20000003647004 Nearly $475bn of fresh capital was secured by 854 buyout, growth equity, venture capital and other PE vehicles in 2021, up 19% from $399bn raised a year earlier, according to data from affiliate title Buyouts.

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]]> Blackstone targets eye-popping $150bn over next 18 months https://www.pehub.com/blackstone-targets-eye-popping-150bn-over-next-18-months/ Fri, 28 Jan 2022 12:00:27 +0000 https://www.pehub.com/?p=20000003646866 Blackstone's assets managed are expected to hit the $1trn mark in the year ahead, chairman and CEO Stephen Schwarzman said.

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]]> Xponance, Investcorp set $300m target for diversity-focused GP stakes fund https://www.pehub.com/xponance-investcorp-set-300m-target-for-diversity-focused-gp-stakes-fund/ Tue, 25 Jan 2022 13:54:16 +0000 https://www.pehub.com/?p=20000003646556 The vehicle was unveiled last year by the private-market affiliate of Xponance and Investcorp’s Strategic Capital Group to support diversity, equity and inclusion in the alternative asset industry.

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]]> BayPine, a hot new name in tech private equity, raises $1.5bn for Fund I https://www.pehub.com/baypine-a-hot-new-name-in-tech-private-equity-raises-1-5bn-for-fund-i/ Fri, 21 Jan 2022 12:59:32 +0000 https://www.pehub.com/?p=20000003646335 Primed by a vigorous deal environment, tech PE fundraising rose to dizzying heights in 2021, with 474 North American vehicles collecting an all-time high of $227bn, according to Buyouts data.

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]]> Ten key private equity fundraising trends on track for 2022 https://www.pehub.com/ten-key-private-equity-fundraising-trends-in-2021-that-will-spill-over-into-2022/ Tue, 18 Jan 2022 12:00:13 +0000 https://www.pehub.com/?p=20000003646045 Drivers of 2021's robust fundraising – an accelerated pace, bigger tickets, LPs pressing allocation limits and hot strategies like growth equity, tech and the energy transition – will likely also feature in 2022's market.

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]]> CD&R raises the bar with largest single-asset deal on Belron, Thoma Bravo to buy Bottomline Technologies https://www.pehub.com/cdr-raises-the-bar-with-largest-single-asset-deal-on-belron-thoma-bravo-to-buy-bottomline-technologies/ Mon, 20 Dec 2021 14:33:37 +0000 https://www.pehub.com/?p=20000003644493 Thoma Bravo agrees to buy Bottomline Technologies.

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]]> Toshiba walks from $20bn+ buyout deal, Georgian seeks $1.5bn for blind-pool strategy to back prized assets https://www.pehub.com/toshiba-walks-from-20bn-buyout-deal-georgian-seeks-1-5bn-for-blind-pool-strategy/ Wed, 08 Dec 2021 14:27:58 +0000 https://www.pehub.com/?p=20000003637630 Georgian unveils blind-pool strategy to continue investing in software assets.

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]]> RedBird-backed FSG to buy Pittsburgh Penguins, Brookfield to grow ‘size and scale’ of private equity platform https://www.pehub.com/redbird-backed-fsg-to-buy-pittsburgh-penguins-brookfield-to-grow-size-and-scale-of-private-equity-platform/ Tue, 30 Nov 2021 14:50:03 +0000 https://www.pehub.com/?p=20000003637285 It looks like high-profile sports investor RedBird Capital Partners is making good on a pledge to help grow its new portfolio company Fenway Sports Group. FSG officially announced an agreement to buy the Pittsburgh Penguins, the legendary hockey franchise that won the Stanley Cup five times (1991, 1992, 2009, 2016 and 2017). Terms weren’t disclosed […]

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]]> Deal of the Year: Thoma Bravo with Ellie Mae https://www.pehub.com/deal-of-the-year-thoma-bravo-with-ellie-mae/ Thu, 01 Apr 2021 04:01:29 +0000 https://www.pehub.com/?p=20000003669395 Thoma Bravo earns our top prize for its sale of Ellie Mae for a cool $11bn after purchasing it for $3.7bn only
18 months earlier.

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]]> Top fundraiser Thoma Bravo bets software’s red-hot run is far from over https://www.pehub.com/top-fundraiser-thoma-bravo-bets-softwares-red-hot-run-is-far-from-over/ Mon, 04 Jan 2021 19:04:12 +0000 https://www.pehub.com/?p=20000003617409 Orlando Bravo, Thoma Bravo’s co-founder and managing partner, tells PE Hub why 2020 was “absolutely our best year ever.”

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]]> Arlington acquires majority stake in Everest Clinical Research https://www.pehub.com/arlington-acquires-majority-stake-in-everest-clinical-research/ Mon, 07 Dec 2020 13:46:54 +0000 https://www.pehub.com/?p=20000003616477 Arlington Capital Partners has made a majority investment in Everest Clinical Research Corp, a Toronto-based provider of clinical research services.

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]]> GP stakes investing to rise with prospect of big Democratic election win https://www.pehub.com/gp-stakes-investing-to-rise-with-prospect-of-big-democratic-election-win/ Fri, 25 Sep 2020 21:49:45 +0000 https://www.pehub.com/?p=20000003614382 PE firms negotiating GP stakes deals are concerned about bump-ups in top individual income and capital gains tax rates, sources told Buyouts.

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]]> Dye & Durham to buy MML Capital Partners-owned PIE https://www.pehub.com/dye-durham-to-buy-mml-capital-partners-owned-pie/ Wed, 23 Sep 2020 14:19:45 +0000 https://www.pehub.com/?p=20000003612067 Dye & Durham has agreed to acquire Property Information Exchange, a UK-based provider of cloud-based real estate due diligence products.

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]]> Brookfield halts sale of coal port due to coronavirus: Reuters https://www.pehub.com/brookfield-halts-sale-of-coal-port-due-to-coronavirus-reuters/ Fri, 13 Mar 2020 13:19:40 +0000 https://www.pehub.com/?p=20000003600557 The decision makes the Dalrymple Bay Coal Terminal the largest deal in Australia to fall victim to the volatile market conditions sparked by the epidemic.

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]]> Xplornet to be acquired by Stonepeak in $2bn deal: G&M https://www.pehub.com/xplornet-to-be-acquired-by-stonepeak-in-2bn-deal-gm/ Thu, 27 Feb 2020 13:36:44 +0000 https://www.pehub.com/?p=20000003599638 Xplornet Communications, a Woodstock, New Brunswick-based provider of rural broadband services, has reportedly struck a deal to be acquired by Stonepeak Infrastructure Partners.

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]]> NEO enabled $1.5 bln in IPOs in 2019, including new SPAC listings https://www.pehub.com/neo-enabled-1-5-bln-in-ipos-in-2019-including-new-spac-listings/ Thu, 06 Feb 2020 22:12:00 +0000 https://www.pehub.com/?p=20000003598539 NEO Exchange facilitated more than C$1.5 billion in initial public offerings last year, including the listings of six special purpose acquisition corporations.

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]]> Canadian private equity deal values reached $46 bln last year https://www.pehub.com/canadian-private-equity-deal-values-reach-46-bln-last-year/ Tue, 04 Feb 2020 19:25:28 +0000 https://www.pehub.com/?p=20000003598372 Deal values in the Canadian buyout and private equity market were particularly strong in Q4 2019, with $27.4 billion invested across 136 transactions.

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]]> InstarAGF invests in Steel Reef’s buy of natural gas assets https://www.pehub.com/instaragf-invests-in-steel-reefs-buy-of-natural-gas-assets/ Mon, 20 Jan 2020 20:55:02 +0000 https://www.pehub.com/?p=20000003597460 InstarAGF Asset Management invested C$175 million in Steel Reef Infrastructure Corp's purchase of Saskatchewan-based natural gas gathering, processing and sales infrastructure assets.

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]]> IPC to acquire hedge fund-backed Granite Oil https://www.pehub.com/ipc-to-acquire-hedge-fund-backed-granite-oil/ Mon, 20 Jan 2020 17:10:09 +0000 https://www.pehub.com/?p=20000003597457 Calgary-based junior oil producer Granite Oil Corp has agreed to be bought by International Petroleum Corp in a deal that values the business at C$79.7 million.

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]]> Quebec investors to buy Canam assets from AIP for $840 mln https://www.pehub.com/quebec-investors-to-buy-canam-assets-from-aip-for-840-mln/ Mon, 20 Jan 2020 16:39:35 +0000 https://www.pehub.com/?p=20000003597456 Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and the Dutil family have agreed to acquire the Canadian operations and other assets of Canam Group, a Saint-Georges, Québec-based maker of construction products.

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]]> Clairvest acquires minority interest in DTG Recycle https://www.pehub.com/clairvest-acquires-minority-interest-in-dtg-recycle/ Mon, 20 Jan 2020 15:42:14 +0000 https://www.pehub.com/?p=20000003597455 Clairvest Group has led a US$32 million minority investment in DTG Recycle, a Mill Creek, Washington-based waste hauling and recycling company.

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]]> Westcap funds invest in growth of Degelman Industries https://www.pehub.com/westcap-funds-invest-in-growth-of-degelman-industries/ Mon, 20 Jan 2020 15:19:54 +0000 https://www.pehub.com/?p=20000003597453 Westcap's Golden Opportunities and MBO II Fund have invested in Degelman Industries, a Regina-based equipment maker for the agricultural and industrial sectors.

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]]> Brookfield offers to buy outstanding TerraForm stake: Reuters https://www.pehub.com/brookfield-offers-to-buy-outstanding-terraform-stake-reuters/ Tue, 14 Jan 2020 21:13:24 +0000 https://www.pehub.com/?p=20000003597225 Brookfield Renewable Partners said it proposed to buy the 38 percent stake in TerraForm Power it does not already own.

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]]> Nuvei grabs funding led by Novacap, CDPQ https://www.pehub.com/nuvei-grabs-funding-led-by-novacap-cdpq/ Fri, 13 Dec 2019 14:18:59 +0000 https://www.pehub.com/?p=20000003596040 Montreal-based Nuvei, a global payment technology provider, has secured C$358 million (US$270 million) in financing.

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]]> OMERS taps Blake Hutcheson to succeed Michael Latimer as CEO https://www.pehub.com/omers-taps-blake-hutcheson-to-succeed-michael-latimer-as-ceo/ Thu, 12 Dec 2019 20:56:40 +0000 https://www.pehub.com/?p=20000003596028 OMERS said Blake Hutcheson will become the Canadian pension fund's new CEO, effective June 1, 2020, succeeding Michael Latimer, who is retiring.

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]]> Bench Brewing raises $1.5 mln in mezz funding from BDC Capital https://www.pehub.com/bench-brewing-raises-1-5-mln-in-mezz-funding-from-bdc-capital/ Fri, 29 Nov 2019 15:39:41 +0000 https://www.pehub.com/?p=20000003595182 Bench Brewing Company has secured $1.5 mln in mezzanine financing from the Growth and Transition Capital division of Canada's BDC Capital.

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]]> BDC Capital invests in clothing retailer Altitude Sports https://www.pehub.com/bdc-capital-invests-in-clothing-retailer-altitude-sports/ Thu, 28 Nov 2019 22:27:29 +0000 https://www.pehub.com/?p=20000003595155 Altitude Sports, a Montréal-based online retailer specializing in urban and outdoor high-end clothing, has raised undisclosed financing led by the Growth and Transition Capital division of BDC Capital.

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]]> Ardenton Capital invests in Britain’s Pebbles Care https://www.pehub.com/ardenton-capital-invests-in-britains-pebbles-care/ Thu, 28 Nov 2019 17:00:12 +0000 https://www.pehub.com/?p=20000003595149 Canadian private equity firm Ardenton Capital Corp has invested in Pebbles Care Ltd, a Leeds, U.K.-based provider of residential care homes and specialist school academies for young people.

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]]> CDPQ acquires stake in Australia’s Sydney Metro for $150 mln https://www.pehub.com/cdpq-acquires-stake-in-australias-sydney-metro-for-150-mln/ Thu, 28 Nov 2019 16:47:43 +0000 https://www.pehub.com/?p=20000003595147 Other investors include MTR Corp Ltd, Marubeni Corp, Plenary Group and CIMIC Group Ltd.

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]]> Consumer research platform Potloc nabs $13 mln in Series A round https://www.pehub.com/consumer-research-platform-potloc-nabs-13-mln-in-series-a-round/ Thu, 14 Nov 2019 12:00:00 +0000 https://pehub.lndo.site/?p=3605198 Potloc, a Montréal-based provider of consumer intelligence, has raised more than $13 million in a Series A financing. The round, which brings total funding to $17 million, was led by Brightspark Ventures and Investissement Québec and joined by Fonds Ecofuel, Cap Horn and Desjardins Capital​. Founded in 2014 by CEO Rodolphe Barrerre, COO Louis Delaoustre and CTO Jérémy Lagrue, Potloc will use the funds raised for new hires, entering new markets, including the U.S., U.K. and elsewhere in Europe, and developing artificial-intelligence capabilities.

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]]> PE-backed KDC/ONE acquires Benchmark Cosmetic Laboratories https://www.pehub.com/pe-backed-kdc-one-acquires-benchmark-cosmetic-laboratories/ Tue, 05 Nov 2019 13:35:15 +0000 https://pehub.lndo.site/?p=3605274 Knowlton Development Corp (KDC/ONE) has acquired Benchmark Cosmetic Laboratories Inc, an Irvine, California-based custom formulator for established and emerging beauty brands. No financial terms were disclosed. Based in Longueuil, Québec, KDC/ONE is a custom maker of beauty, health and personal care brands. Last year, the company was acquired by a consortium led by U.S. private equity firm Cornell Capital for more than $1 billion. The seller was Novacap.

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]]> Fintech app Mylo secures $10 mln in NAventures-led financing https://www.pehub.com/fintech-app-mylo-secures-10-mln-in-naventures-led-financing/ Tue, 05 Nov 2019 13:18:30 +0000 https://pehub.lndo.site/?p=3605268 Mylo, a Montréal-based automated savings and investment app, has secured $10 million in financing, bringing its total funding to $14 million. The latest round was led by NAventures, the venture capital arm of National Bank of Canada. It was joined by existing investors Desjardins Capital, Ferst Capital Partners and Tactico. Launched in 2015 by CEO Philip Barrar, Mylo will use the proceeds for product innovation, new hires, continued growth in Canada, and expansion internationally.

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]]> Luge Capital grows debut fintech fund to $85 mln, iA Financial, BDC invest https://www.pehub.com/luge-capital-grows-debut-fintech-fund-to-85-mln-ia-financial-bdc-invest/ Tue, 22 Oct 2019 05:00:01 +0000 https://pehub.lndo.site/?p=3603878 Luge Capital has raised additional resources for its debut early-stage financial technology venture capital fund, bringing it to a total size of $85 million. The new commitments came from iA Financial Group and BDC Capital, which join existing Luge investors Caisse de dépôt et placement du Québec, Desjardins Group, Sun Life Financial, Fonds de solidarité FTQ and La Capitale. Montréal- and Toronto-based Luge was founded last year by General Partners David Nault and Karim Gillani. It has to date led or co-led investments in Finaeo, Flare Systems, Flinks and Owl.co.

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]]> Flare Systems raises $1 mln in seed financing led by Luge Capital https://www.pehub.com/flare-systems-raises-1-mln-in-seed-financing-led-by-luge-capital/ Thu, 17 Oct 2019 05:00:04 +0000 https://pehub.lndo.site/?p=3603429 Flare Systems, a Montréal-based dark-net intelligence platform focused on helping financial institutions prevent cyber-crimes, has raised $1 million in a seed-stage financing. The round was led by Luge Capital, a Canadian fintech venture capital firm. Also participating was White Star Capital. Founded in 2017, Flare Systems will use the round's proceeds to expand its roll-out in Canada and the United States, and further develop its suite of products. Luge last year raised an initial $75 million for its inaugural fund.

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]]> TPG banks $14.2 bln in final close of flagship PE, healthcare funds https://www.pehub.com/tpg-banks-14-2-bln-in-final-close-of-flagship-pe-healthcare-funds/ Tue, 15 Oct 2019 21:44:02 +0000 https://oldwww.pehub.com/?post_type=pehub-buyouts&p=3603126 TPG Capital raised $14.2 billion in the final close of its eighth flagship fund and a sidecar vehicle focused on healthcare investing, two people with knowledge of the matter told Buyouts. The private equity firm, based in Fort Worth, Texas, and San Francisco, recently wrapped up TPG Partners VIII at $11.5 billion, the people said, […]

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]]> Signal Hill backs City Wide Towing’s combination with ULS https://www.pehub.com/signal-hill-backs-city-wide-towings-combination-with-uls/ Wed, 09 Oct 2019 20:41:19 +0000 https://pehub.lndo.site/?p=3602609 City Wide Towing & Recovery Service Ltd, a Calgary-based provider of recovery services, has combined with ULS Maintenance & Landscaping Inc, a Rocky View, Alberta-based provider of snow and ice management, garbage collection, landscape maintenance and other services in Western Canada. Terms weren't disclosed. The companies said the deal creates one of Canada's largest municipal service businesses. Canadian mid-market private equity firm Signal Hill Equity Partners, which invested in City Wide in 2015, provided growth capital to support the merger.

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]]> Oxford Living acquires six Ontario seniors housing properties https://www.pehub.com/oxford-living-acquires-six-ontario-seniors-housing-properties/ Wed, 09 Oct 2019 20:06:29 +0000 https://pehub.lndo.site/?p=3602597 Oxford Living, the Canadian seniors housing management and investment affiliate of U.S. real estate private equity firm Oxford Capital Group, has acquired six private-pay supportive living properties located across Ontario. No financial terms were disclosed. The deal, done in partnership with Starr Insurance Companies, increases Oxford Living's portfolio of Ontario retirement communities to fifteen.

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]]> EnerTech Capital to manage mobility tech fund targeted at $100 mln https://www.pehub.com/enertech-capital-to-manage-mobility-tech-fund-targeted-at-100-mln/ Wed, 09 Oct 2019 18:46:40 +0000 https://pehub.lndo.site/?p=3602579 The Sacramento Municipal Utility District (SMUD) is looking to raise a venture capital fund to back startups developing mobility technology, according to a report by the Sacramento Business Journal. The fund is targeting US$100 million, the report said, mostly from corporate investors, such as automotive and technology companies. EnerTech Capital, a Toronto-based energy technology venture capital firm, will manage the fund.

The post EnerTech Capital to manage mobility tech fund targeted at $100 mln appeared first on PE Hub.

]]> NPO software developer Yapla secures investment from Credit Agricole https://www.pehub.com/npo-software-developer-yapla-secures-investment-from-credit-agricole/ Wed, 09 Oct 2019 13:29:54 +0000 https://pehub.lndo.site/?p=3602543 Yapla, a Montréal-based payment and management software platform for non-profit organizations (NPOs), has raised an undisclosed investment from La Fabrique by CA, the startup studio of French bank Credit Agricole. Founded in 2013, Yapla provides NPOs with solutions to facilitate day-to-day operations, such as organizing events, selling tickets online, managing members and receiving donations online. […]

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]]> Voyager Capital raises $100 mln, plans to invest in Western Canada https://www.pehub.com/voyager-capital-raises-100-mln-plans-to-invest-in-western-canada/ Wed, 09 Oct 2019 13:10:44 +0000 https://pehub.lndo.site/?p=3602537 Voyager Capital, a Seattle, Washington-based venture capital firm, has raised US$100 million for its fifth fund. The fund, which will make first-round investments in B2B startups in cloud infrastructure, software-as-a-service and other verticals, plans to focus in part on opportunities in Western Canada. The fund's investors include BC Tech Fund, managed by Kensington Capital Partners, according to a report by Business in Vancouver.

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]]> Champlain, Claridge partner in acquisition of Captain Dan’s Seafood https://www.pehub.com/champlain-claridge-partner-in-acquisition-of-captain-dans-seafood/ Wed, 09 Oct 2019 07:47:54 +0000 https://pehub.lndo.site/?p=3602532 Champlain Financial Corp has partnered with Claridge, a Canadian family office, in the acquisition of Captain Dan’s Seafood, a Dieppe, New Brunswick-based seafood processor that specializes in lobster and snow crab products. Terms weren't disclosed. The deal was done by the Champlain Seafood platform, formed in 2017 with the Canadian private equity firm's acquisitions of Cheticamp Fisheries and Riverside Lobster. Founded in 1994, Captain Dan’s serves corporate customers in North America, Europe and Asia.

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]]> MaRS Catalyst Fund becomes Amplify Capital, launches $30 mln fund https://www.pehub.com/mars-catalyst-fund-becomes-amplify-capital-launches-30-mln-fund/ Tue, 08 Oct 2019 12:14:40 +0000 https://pehub.lndo.site/?p=3602377 MaRS Catalyst Fund, a Toronto-based early-stage impact fund created in collaboration with MaRS Discovery District, has rebranded as Amplify Capital and launched a new fund. The fund has a target size of $30 million and is seeking an initial close by early 2020. MaRS Catalyst Fund was launched in 2016 with the backing of Virgin Unite, as well as other investors, including Chawkers Foundation, Fondaction, J. W. McConnell Family Foundation and Lino et Mirella Saputo Foundation. It made nine investments in Ontario and Québec.

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]]> Fulcrum Capital Partners invests in growth of Media Resources https://www.pehub.com/fulcrum-capital-partners-invests-in-growth-of-media-resources/ Mon, 07 Oct 2019 12:00:23 +0000 https://pehub.lndo.site/?p=3602048 Canadian mid-market private equity firm Fulcrum Capital Partners has invested in Media Resources Inc, an Oakville, Ontario-based provider of outdoor and indoor LED displays, sign installation and maintenance, large format digital printing and 3D fabrication for the billboard, commercial sign, sports and media industries. No financial terms were disclosed. The deal, which will support the company's organic and acquisition-led growth, marks the tenth platform investment of Fulcrum Capital Partners V, which raised $344 million in 2015.

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]]> Relogix secures $4 mln in Series A financing https://www.pehub.com/relogix-secures-4-mln-in-series-a-financing/ Thu, 03 Oct 2019 22:07:39 +0000 https://pehub.lndo.site/?p=3601937 Relogix, an Ottawa-based workspace analytics platform and Internet-of-Things (IoT) sensor technology company, has closed its Series A financing, raising $4 million. The investors included BDC Capital’s Industrial, Clean and Energy Technology Venture Fund, Mistral Venture Partners and GroundBreak Ventures. Founded in 2010 by CEO Andrew Millar, Relogix provides its solutions to corporate real estate organizations.

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]]> CDPQ-backed Metro to buy Custom Delivery Solutions https://www.pehub.com/cdpq-backed-metro-to-buy-custom-delivery-solutions/ Thu, 03 Oct 2019 21:50:22 +0000 https://pehub.lndo.site/?p=3601932 Metro Supply Chain Group, a Montréal-based provider of third-party logistics, has agreed to acquire Custom Delivery Solutions, a Calgary-based provider of white glove direct-to-home delivery. Terms weren't disclosed. Metro said the deal will expand its coverage of the Canadian last-mile home delivery market. Earlier this year, Metro secured growth capital from Caisse de dépôt et placement du Québec (CDPQ), adding to an investment made in 2018.

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]]> Teekay Offshore to sell remaining public stake to Brookfield’s PE group https://www.pehub.com/teekay-offshore-to-sell-remaining-public-stake-to-brookfields-pe-group/ Tue, 01 Oct 2019 12:22:40 +0000 https://pehub.lndo.site/?p=3601426 Teekay Offshore Partners LP (NYSE: TOO), a Hamilton, Bermuda-based midstream services provider to the offshore oil industry, has accepted an offer from the private equity group of Brookfield Asset Management to acquire publicly held common units not already owned by the investor. Brookfield will pay US$1.55 in cash per unit, up from a US$1.05 offer made earlier this year. In 2017, Brookfield acquired 60 percent of Teekay Offshore from Teekay Corp (NYSE: TK), a Vancouver-based marine energy transportation, storage and production business, for US$750 million.

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]]> Restaurant scheduling platform 7shifts nabs $7.9 mln more in VC https://www.pehub.com/restaurant-scheduling-platform-7shifts-nabs-7-9-mln-more-in-vc/ Tue, 01 Oct 2019 12:03:16 +0000 https://pehub.lndo.site/?p=3601421 7shifts, a Saskatoon-based provider of restaurant employee scheduling solutions, has secured $7.9 million (US$6 million) in financing. Napier Park Financial Partners, which led the company's $13.4 million Series A round earlier this year, also led the supplementary round. It was joined by existing investor Relay Ventures and new investor Conexus Credit Union. 7shifts will use the new funds raised to expand its North American restaurant footprint.

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]]> Brookfield’s PE group to acquire 45 pct stake in BrandSafway https://www.pehub.com/brookfields-pe-group-to-acquire-45-pct-stake-in-brandsafway/ Mon, 30 Sep 2019 15:28:13 +0000 https://pehub.lndo.site/?p=3601333 The private equity group of Brookfield Asset Management has agreed to acquire half of the interest held by Clayton, Dubilier & Rice (CD&R) in BrandSafway, a Kennesaw, Georgia-based industrial services company. Terms weren't released, however, Brookfield said its investment will be funded with about US$1.3 billion of equity. With the deal's close, expected in Q1 2020, Brookfield and CD&R will each own about 45 percent of BrandSafway.

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]]> Impact investor Renewal Funds closes latest fund at $145 mln https://www.pehub.com/impact-investor-renewal-funds-closes-latest-fund-at-145-mln/ Mon, 30 Sep 2019 13:50:09 +0000 https://pehub.lndo.site/?p=3601327 Canadian impact venture capital firm Renewal Funds has closed its latest fund, Renewal4, at $145 million. The fund was backed by more than 140 investors, including BDC Capital, The Co-operators and the clean technology stream of Ottawa's Venture Capital Catalyst Initiative (VCCI). Based in Vancouver, Renewal Funds invests in environmental technology and sustainable consumer products across North America. The fundraising brings the firm's total assets under management to $240 million.

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]]> Forever 21’s Canadian subsidiary granted CCAA protection https://www.pehub.com/forever-21s-canadian-subsidiary-granted-ccaa-protection/ Mon, 30 Sep 2019 13:34:58 +0000 https://pehub.lndo.site/?p=3601321 Los Angeles-based fashion retailer Forever 21 Inc said it has filed for Chapter 11 bankruptcy protection in the United States and that its Canadian subsidiary was granted protection under the Companies’ Creditors Arrangement Act (CCAA) by the Ontario Superior Court of Justice (Commercial List) in Toronto. Forever 21 has also obtained US$275 million in financing from JPMorgan Chase Bank, as well as US$75 million in new capital from TPG Sixth Street Partners, to facilitate the company's restructuring.

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]]> Brookfield closes majority acquisition of Oaktree Capital https://www.pehub.com/brookfield-closes-majority-acquisition-of-oaktree-capital/ Mon, 30 Sep 2019 13:21:45 +0000 https://pehub.lndo.site/?p=3601306 Brookfield Asset Management has closed its acquisition of 61.2 percent of Oaktree Capital Group, a Los Angeles-based alternative investments manager. The cash-and-stock deal saw Brookfield buy all of the outstanding Oaktree class A units and about 20 percent of the units of Oaktree Capital Group Holdings (OCGH) held by founders, senior management, and current and former employees. Brookfield said cash payable to class A unit-holders and OCGH unit-holders is about US$2.4 billion.  Reuters previously estimated the deal's total value at US$4.8 billion.

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]]> Georgian Partners targeting $1 bln for fifth growth equity fund https://www.pehub.com/georgian-partners-targeting-1-bln-for-fifth-growth-equity-fund/ Fri, 27 Sep 2019 18:09:14 +0000 https://pehub.lndo.site/?p=3601226 Georgian Partners is targeting nearly $1 billion (US$750 million) for its fifth growth equity fund, according to an SEC filing. The filing confirms a June report by the Globe and Mail. Toronto-based Georgian has a North America investment strategy focused on applied analytics, as well as applied artificial intelligence, conversational business, and security in software design. The firm closed Georgian Partners Growth Fund IV last year at its $715 million (US$550 million) hard cap.

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]]> Yellow Point closes investment in Securiguard Services https://www.pehub.com/yellow-point-closes-investment-in-securiguard-services/ Thu, 26 Sep 2019 12:36:54 +0000 https://pehub.lndo.site/?p=3601014 Canadian private equity firm Yellow Point Equity Partners announced earlier this month it closed an investment in Securiguard Services Ltd, a Vancouver-based provider of uniformed guard and related security services. No financial terms were disclosed. Securiguard has more than 2,200 security officers deployed across British Columbia and Alberta. Yellow Point invested from its fourth mid-market fund, which raised $150 million in 2015.

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]]> CPPIB looking to sell stake in Interparking: Reuters https://www.pehub.com/cppib-looking-to-sell-stake-in-interparking-reuters/ Wed, 25 Sep 2019 20:40:29 +0000 https://pehub.lndo.site/?p=3600963 Canada Pension Plan Investment Board (CPPIB) has hired U.S. investment bank Citi to explore the sale of its 39 percent stake in European car park management company Interparking Group, sources told Reuters. Brussels-based Interparking has more than 800 car parks in nine countries. CPPIB acquired the stake in 2014 from AG Real Estate for about 376 million euros (US$412 million).

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]]> Kelso-owned J.S. Held acquires consulting business SPECS https://www.pehub.com/kelso-owned-j-s-held-acquires-consulting-business-specs/ Tue, 17 Sep 2019 22:12:40 +0000 https://pehub.lndo.site/?p=3600046 J.S. Held has acquired SPECS, a Langley, British Columbia-based property risk and loss quantification consulting business, for an undisclosed amount. Established in 1995 by President David Wallace, SPECS provides property damage assessments, restoration consulting, construction project administration, risk management, facility services, and catastrophic response from 18 offices in Canada. J.S. Held, a Jericho, New York-based specialty consulting agency, said the acquisition complements its portfolio of professional services in building consulting and strengthens its ability to support Canadian clients. J.S. Held was acquired in July by U.S. mid-market private equity firm Kelso & Co from Lovell Minnick Partners.

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]]> Persistence Capital Partners invests in MCA Dental Group https://www.pehub.com/persistence-capital-partners-invests-in-mca-dental-group/ Tue, 17 Sep 2019 17:11:39 +0000 https://pehub.lndo.site/?p=3599993 Ottawa-based dental service organization MCA Dental Group Ltd earlier this month secured an investment from Persistence Capital Partners (PCP), a Canadian healthcare private equity firm. Terms weren't released for the deal, which follows an initial investment made by PCP in early 2018. Established in 2017 by CEO Ken Craig and Chief Dental Officer Mark McCullough, MCA acquires, invests in and provides non-clinical management services to dental practices across Canada. MCA said the partnership with PCP will help the company build out its team and accelerate investments in more dental practices. Earlier in 2019, PCP invested in Anova Fertility & Reproductive Health, a Toronto-based fertility and reproductive care business.

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]]> Tricon, ASRS to partner in U.S. Sun Belt real estate investments https://www.pehub.com/tricon-asrs-to-partner-in-u-s-sun-belt-real-estate-investments/ Tue, 17 Sep 2019 16:28:32 +0000 https://pehub.lndo.site/?p=3599969 Tricon Capital Group has agreed to partner with Arizona State Retirement System (ASRS) in investments in master-planned communities and the development of single-family build-to-rent communities in the U.S. Sun Belt. The US$450-million joint venture will be capitalized by a US$400 million commitment from ASRS and a US$50 million commitment from Tricon. Tricon, which will source and manage investment opportunities, said it intends to offer two master-planned communities to seed the partnership. Tricon, a Canadian real estate private equity firm, in June closed a US$1.4 billion acquisition of a portfolio of U.S. multi-family properties.

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]]> Fintech startup Patchell Brook raises $360k in funding, NBIF invests https://www.pehub.com/fintech-startup-patchell-brook-raises-360k-in-funding-nbif-invests/ Tue, 17 Sep 2019 15:47:54 +0000 https://pehub.lndo.site/?p=3599947 Patchell Brook Equity Analytics, a Miramichi, New Brunswick-based provider of valuation analysis technology, has secured $360,000 in financing. New Brunswick Innovation Foundation (NBIF) invested $150,000 in the round. The balance was accounted for by Miramichi Technology Fund, Technology Venture Corp and several angel investors. Founded in 2013 by CEO Brian Donovan, Patchell Brook has developed software, called StockCalc, and other tools that help customers determine the equity valuation of publicly-traded businesses and investment funds. The company will use the round's proceeds for additional product development and growth initiatives.

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]]> Edtech platform Classcraft secures C$10 mln in Series A financing https://www.pehub.com/edtech-platform-classcraft-secures-c10-mln-in-series-a-financing/ Tue, 17 Sep 2019 14:49:56 +0000 https://pehub.lndo.site/?p=3599927 Sherbrooke, Québec-based education technology provider Classcraft has raised C$10 million in a Series A financing. The round was led by Investissement Québec, an investment arm of the Québec government. It was joined by Whitecap Venture Partners, Brightspark Ventures and MaRS Catalyst Fund, all of which backed Classcraft’s C$2.8 million financing in 2017. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, Classcraft uses technology, games and storytelling to enhance student motivation in the K-12 education sector.

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]]> Trulioo nabs $70 mln in VC, including Goldman Sachs-led Series C https://www.pehub.com/trulioo-nabs-70-mln-in-vc-including-goldman-sachs-led-series-c/ Tue, 17 Sep 2019 14:35:31 +0000 https://pehub.lndo.site/?p=3599881 Trulioo, a Vancouver-based identity verification platform, has secured $70 million in new funding, including $60 million in Series C financing. Goldman Sachs Growth Equity led the Series C, with participation from American Express Ventures, Citi Ventures and Santander InnoVentures. The other $10 million came from early investors Blumberg Capital and BDC Capital. Trulioo provides an application programming interface that gives electronic identity and verification coverage for five billion consumers and more than 250 million businesses in a range of global industries. Led by Founder and CEO Stephen Ufford, the company will use the funds raised for scaling up operations in new markets, new hires and other growth initiatives.

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]]> Edtech platform Classcraft secures $10 mln in Series A financing https://www.pehub.com/edtech-platform-classcraft-secures-10-mln-in-series-a-financing/ Tue, 17 Sep 2019 12:26:15 +0000 https://pehub.lndo.site/?p=3599860 Sherbrooke, Québec-based education technology provider Classcraft has raised $10 million in a Series A financing. The round was led by Investissement Québec, an investment arm of the Québec government. It was joined by Whitecap Venture Partners, Brightspark Ventures and MaRS Catalyst Fund, all of which backed Classcraft's $2.8 million financing in 2017. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, Classcraft uses technology, games and storytelling to enhance student motivation in the K-12 education sector. It serves more than 6 million students and teachers worldwide. The company will use the funds raised to further scale its platform.

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]]> CPPIB-backed Endeavor seeks $619 mln from IPO: Reuters https://www.pehub.com/cppib-backed-endeavour-seeks-619-mln-from-ipo-reuters/ Mon, 16 Sep 2019 20:28:56 +0000 https://pehub.lndo.site/?p=3599789 Endeavor Group Holdings Inc, a Beverly Hills, California-based talent agency and events company, is looking to raise up to US$619 million from an initial public offering (IPO), according to a report by Reuters. The IPO, which will be launched on the New York Stock Exchange, could value Endeavour at as much as US$7.8 billion, the […]

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]]> Gotham Green Partners joins Lift’s $3.5 mln private offering https://www.pehub.com/gotham-green-partners-joins-lifts-3-5-mln-private-offering/ Mon, 16 Sep 2019 20:02:33 +0000 https://pehub.lndo.site/?p=3599775 Lift & Co Corp (TSX-V: LIFT), a Toronto-based cannabis media and technology platform, has closed a $3.5 million private placement offering. The financing, consisting of senior secured convertible debentures and common share purchase warrants, was backed by U.S. cannabis private equity firm Gotham Green Partners and others. Founded in 2014 by Chairman Tyler Sookochoff, Lift provides cannabis-related trade shows, online data and product reviews, and educational resources. It will use the deal's proceeds for working capital, repaying debt and other priorities. Lift, which went public last year, secured $3 million in a Series A financing in 2017.

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]]> Ironbridge acquires assets of exhaust systems maker MBRP https://www.pehub.com/ironbridge-acquires-assets-of-exhaust-systems-maker-mbrp/ Mon, 16 Sep 2019 17:03:38 +0000 https://pehub.lndo.site/?p=3599724 Canadian mid-market private equity firm Ironbridge Equity Partners last month acquired the assets of MBRP Inc, a Huntsville, Ontario-based designer and manufacturer of exhaust systems for the automotive and recreational vehicle markets. Terms weren't released for the deal, which saw Ironbridge partner with MBRP's management team led by CEO Martin Barkey. Established in 1999, MBRP serves a network of warehouse distributor, retailer and e-commerce customers across Canada and the United States. The acquisition comes on the heels of Ironbridge's July investment in Alumni Classroom Furniture Inc, a Waterloo, Ontario-based provider of educational furniture solutions.

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]]> Energy Transfer to buy SemCAMS co-owner in $5.1 bln deal https://www.pehub.com/energy-transfer-to-buy-semcams-co-owner-in-5-1-bln-deal/ Mon, 16 Sep 2019 16:19:06 +0000 https://pehub.lndo.site/?p=3599683 SemGroup Corp (NYSE: SEMG), a Tulsa, Oklahoma-based midstream energy services company, has agreed to be acquired by Energy Transfer LP (NYSE: ET) in a cash-and-stock transaction valued at about US$5.1 billion, including debt. The deal is expected to close later this year or in early 2020. In a separate release, Energy Transfer said the benefits of the acquisition include a crude oil gathering and transportation presence in Canada's Alberta Basin. Earlier this year, SemGroup partnered with U.S. private equity firm KKR to create SemCAMS Midstream ULC, a $1.75-billion midstream infrastructure platform based in Calgary.

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]]> PE-backed Licaplast buys polyethylene products maker M’Plast https://www.pehub.com/pe-backed-licaplast-buys-polyethylene-products-maker-mplast/ Mon, 16 Sep 2019 15:03:57 +0000 https://pehub.lndo.site/?p=3599627 Licaplast Industries Emballages Inc has acquired M'Plast Inc, a Montréal-based manufacturer and converter of polyethylene products. No financial terms were disclosed. Founded in 1988 by Roger Damdjee, M'Plast makes and converts polyethylene film into bags or u-film for use in horticulture, agriculture, industrial and other markets. Licaplast, a Montréal-based producer of flexible plastic packaging, said the acquisition provides additional capabilities that will help it meet the requirements of Canadian and U.S. customers. Licaplast was recapitalized last year by Charter Oak Equity, a U.S. private equity firm, and Fonds de solidarité FTQ, a Canadian development capital firm.

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]]> ONCAP-backed Chatters acquires hair salon chain Enviro Trends https://www.pehub.com/oncap-backed-chatters-acquires-hair-salon-chain-enviro-trends/ Mon, 16 Sep 2019 14:12:32 +0000 https://pehub.lndo.site/?p=3599572 Chatters LP has acquired Enviro Trends, a Pembroke, Ontario-based hair salon chain, for an undisclosed amount. Based in Red Deer, Alberta, Chatters provides hair care services and products under its Style Happy brand. Operating through 117 locations in seven provinces, the company said the deal advances a cross-country acquisition strategy by giving it a larger presence in Eastern Canada. Earlier this year Chatters appointed industry veteran Greg Moreau as its new president and CEO. Founded in 2011, Chatters was acquired in 2015 by ONCAP, the mid-market investment platform of Canadian private equity firm Onex Corp.

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]]> Blackstone to acquire Dream Global REIT in $6.2 bln deal https://www.pehub.com/blackstone-to-acquire-dream-global-reit-in-6-2-bln-deal/ Mon, 16 Sep 2019 13:37:26 +0000 https://pehub.lndo.site/?p=3599575 Blackstone Group has agreed to acquire Dream Global Real Estate Investment Trust (TSX: DRG.UN), a Toronto-based owner and operator of office and industrial properties in Europe. Unit-holders of Dream Global will receive $16.79 per unit in an all-cash transaction valued at $6.2 billion. The deal is expected to close in December. Established in 1996 by Chair and CEO Michael Cooper, Dream Global has a portfolio of more than 200 properties located in over 100 Western European cities. The company, publicly traded since 2011, is primarily focused on real estate opportunities in Germany and the Netherlands. Blackstone, a U.S. alternative investment firm, is making the acquisition through its real estate private equity funds.

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]]> BDC Capital funds buy of Canadian Space Services, CSS Wind https://www.pehub.com/bdc-capital-funds-buy-of-canadian-space-services-css-wind/ Fri, 30 Aug 2019 17:48:07 +0000 https://pehub.lndo.site/?p=3597445 CSS Industrial Group of Cos has acquired Carp, Ontario-based Canadian Space Services, a provider of repair and maintenance services for dome-shaped enclosures for radars, and CSS Wind, a provider of similar services for wind turbines. Terms weren't disclosed. The deal was backed by $800,000 of mezzanine financing from BDC Capital's Growth and Transition Capital group. CSS Group is a newly formed holding company led by President Allan Duncan. It also holds Midstream Infrastructure Protection Technologies, a Toronto-based provider of field services for hard-to-access industrial installations. The three operating companies serve Canadian government agencies and businesses.

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]]> Aifred Health raises C$490k to support treatment of depression https://www.pehub.com/aifred-health-raises-c490k-to-support-treatment-of-depression/ Fri, 30 Aug 2019 14:02:10 +0000 https://pehub.lndo.site/?p=3597392 Montréal-based digital health company Aifred Health has secured more than C$490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing’s proceeds will be used to validate Aifred’s business model and launch its first application in partnership with local hospitals.

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]]> OTPP partners in launch of Sidewalk Infrastructure Partners https://www.pehub.com/ontario-teachers-partners-in-launch-of-sidewalk-infrastructure-partners/ Fri, 30 Aug 2019 13:52:20 +0000 https://pehub.lndo.site/?p=3597371 Ontario Teachers’ Pension Plan (OTPP) has partnered with Alphabet Inc to form Sidewalk Infrastructure Partners (SIP), a platform for investing in and holding technology-enabled sustainable infrastructure assets. Terms weren't disclosed. SIP was spun out of Sidewalk Labs, the New York-based urban innovation business of Alphabet, Google's parent company. SIP will focus on five verticals: advanced mobility, energy, water and waste, digital infrastructure and social infrastructure. In each of the verticals, SIP will facilitate the application of technology, including artificial intelligence and machine learning, autonomous vehicles, energy management, cloud and data analytics, networking and cybersecurity.

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]]> CDPQ acquires minority stake in Brookfield-owned Healthscope https://www.pehub.com/cdpq-acquires-minority-stake-in-brookfield-owned-healthscope/ Thu, 29 Aug 2019 21:50:46 +0000 https://pehub.lndo.site/?p=3597330 Caisse de dépôt et placement du Québec (CDPQ) has closed an agreement to co-invest in Healthscope Ltd, a Melbourne, Australia-based private hospital operator, alongside the private equity group of Brookfield Asset Management. CDPQ will invest more than A$300 million ($269 million) to hold a minority stake in the company. In June, Brookfield completed its US$4.1 billion take-private acquisition of Healthscope, Australia's second largest private hospital operator and New Zealand's largest pathology services provider. Toronto-based Brookfield has so far raised nearly US$8 billion ($10.6 billion) for its fifth private equity fund, PE Hub Canada reported earlier this month.

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]]> ePACT becomes first Canadian woman-led deal of Elaine Kunda’s Disruption Ventures https://www.pehub.com/epact-becomes-first-canadian-woman-led-deal-of-elaine-kundas-disruption-ventures/ Thu, 29 Aug 2019 17:46:54 +0000 https://pehub.lndo.site/?p=3596873 EPACT Network has closed a Series A financing, raising $4.5 million, PE Hub Canada has learned. The round, which brings total funding to $12 million-plus, was co-led by Disruption Ventures, a women-focused venture firm, and Yaletown Partners, an investor in emerging-growth tech companies. Vancouver’s ePACT was founded in 2012 by CEO Christine Sommers and President and COO Kirsten Koppang Telford to provide a cloud-hosted system that converts traditional paper-based forms of emergency, health and contact information to a free e-network. It is the first Canadian investment of Disruption, launched in 2018 by Managing Partner Elaine Kunda to invest in North American early-stage companies founded and managed by women.

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]]> Temenos to buy Georgian Partners-backed Kony for $559 mln https://www.pehub.com/temenos-to-buy-georgian-partners-backed-kony-for-559-mln/ Thu, 29 Aug 2019 15:44:49 +0000 https://pehub.lndo.site/?p=3597273 Temenos has agreed to acquire Kony Inc, an Austin, Texas-based digital and mobile application development company focused on the financial sector. Tenemos agreed to buy Kony for an enterprise value of US$559 million and an earn-out of US$21 million. The deal is expected to close in the fourth quarter. Tenemos, a Swiss banking software provider, said the acquisition will enhance its scale and capabilities in the U.S. market. Founded in 2007, Kony was backed by Canadian growth equity firm Georgian Partners and other investors. Last month, the company raised US$37 million of debt financing from BMO's Technology and Innovation Banking group.

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]]> Canopy Rivers-backed TerrAscend to acquire State Flower https://www.pehub.com/canopy-rivers-backed-terrascend-to-acquire-state-flower/ Thu, 29 Aug 2019 14:31:09 +0000 https://pehub.lndo.site/?p=3597234 TerrAscend Corp has agreed to acquire ABI SF LLC, which operates a San Francisco-based cannabis cultivation facility and owns State Flower, a cannabis flower brand. TerrAscend, a Toronto-based cannabis business, agreed to initially acquire 49.9 percent of State Flower for US$2.85 million through the conversion of a convertible debenture. It will buy the remaining stake for a price based on future revenue. In May, TerrAscend completed a private placement, raising about $70 million (US$52 million), intended in part to fund the company's U.S. acquisition strategy. TerrAscend is backed by Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.

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]]> Aifred Health raises $490k to support treatment of depression https://www.pehub.com/aifred-health-raises-490k-to-support-treatment-of-depression/ Thu, 29 Aug 2019 13:57:29 +0000 https://pehub.lndo.site/?p=3597030 Montréal-based digital health company Aifred Health has secured more than $490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing's proceeds will be used to validate Aifred's business model and launch its first application in partnership with local hospitals.

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]]> OPTrust taps SSGA’s Peter Lindley as president and CEO https://www.pehub.com/optrust-taps-ssgas-peter-lindley-as-president-and-ceo/ Thu, 29 Aug 2019 13:17:25 +0000 https://pehub.lndo.site/?p=3597020 Canadian pension fund manager OPTrust has appointed Peter Lindley as president and CEO, effective September 16. Lindley joins from U.S. asset manager State Street Global Advisors Ltd (SSGA), where he most recently served as president and head of investments in Canada. He worked at SSGA for 14 years. Lindley replaces Hugh O’Reilly, who resigned as president and CEO of OPTrust in March. With assets of about $20 billion, Toronto-based OPTrust invests and manages OPSEU Pension Plan. It invests in private equity and infrastructure through OPTrust Private Markets Group.

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]]> GI Partners’ Doxim buys utilities communications specialist Utilitec https://www.pehub.com/gi-partners-doxim-buys-utilities-communications-specialist-utilitec/ Wed, 28 Aug 2019 20:41:19 +0000 https://pehub.lndo.site/?p=3596960 Doxim has acquired Utilitec, a Troy, Michigan-based provider of data processing, e-presentment, bill payment and delivery, and other customer communications solutions for the metered services industry. No financial terms were released for the deal, which follows Doxim's acquisitions earlier this year of Market Connections Inc and MessagingDirect Ltd. Doxim, a Toronto-based provider of customer communications and engagement technology to financial and regulated markets, said the deal expands its focus on the utilities sector. Last year, U.S. private equity firm GI Partners acquired a majority stake in Doxim from Strattam Capital.

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]]> Smart factory platform Worximity lands $6.25 mln in Series A https://www.pehub.com/smart-factory-platform-worximity-lands-6-25-mln-in-series-a/ Wed, 28 Aug 2019 19:10:04 +0000 https://pehub.lndo.site/?p=3596916 Worximity Technology, a Montréal-based smart factory analytics provider, has secured $6.25 million in a Series A financing. The round included a $5 million strategic investment by Marel, an Irish multi-national food processing company. The balance came from Worximity's existing Canadian investors Fonds de solidarité FTQ and W Investments. Founded in 2011 by CEO Yannick Desmarais, Worximity uses artificial intelligence and machine learning to enable automatic data collection, real-time monitoring, analysis and predictive insights in factory settings. The company will use the funds raised to accelerate the development of its technology and expand globally.

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]]> TriWest Capital-backed Lithion Power acquires Aved Electronics https://www.pehub.com/triwest-capital-backed-lithion-power-acquires-aved-electronics/ Wed, 28 Aug 2019 18:23:09 +0000 https://pehub.lndo.site/?p=3596899 Lithion Power Group, a portfolio company of TriWest Capital Partners, has acquired Aved Electronics, a North Billerica, Massachusetts-based battery pack manufacturing, cable and harness assembly and electro-mechanical box-build business. Terms weren't disclosed. Established in 1979, Aved primarily serves the medical, defence, robotics and communications industries in the United States. Lithion, a Calgary-based manufacturer of lithium cells and packs for use in the oil and gas drilling sector, said the acquisition expands its product offering and industry reach. Formerly known as HPC Energy Services, Lithion secured an investment in 2018 from TriWest, a Canadian mid-market private equity firm.

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]]> HBC to sell Lord + Taylor to venture-backed Le Tote for $100 mln https://www.pehub.com/hbc-to-sell-lord-taylor-to-venture-backed-le-tote-for-100-mln/ Wed, 28 Aug 2019 14:24:42 +0000 https://pehub.lndo.site/?p=3596815 Canadian retailer Hudson's Bay Co (TSX: HBC) has agreed to sell its Lord + Taylor department store operations to Le Tote Inc, a San Francisco-based fashion rental subscription service. HBC will receive about $100 million and a promissory note for $33.2 million. It will also secure a minority stake in Le Tote and two board seats. Le Tote will gain Lord + Taylor's brand and intellectual property, operation of 38 stores, as well as digital channels and inventory. HBC, which is currently reviewing a $1.74 billion take-private acquisition, said the agreement followed a review of strategic alternatives for Lord + Taylor. Le Tote is backed by Andreessen Horowitz, Azure Capital Partners, GV, Lerer Hippeau Ventures, Sway Ventures, Y Combinator and other investors.

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]]> ESSA Pharma wraps up $48 mln offering and private placement https://www.pehub.com/essa-pharma-wraps-up-48-mln-offering-and-private-placement/ Wed, 28 Aug 2019 13:20:16 +0000 https://pehub.lndo.site/?p=3596804 Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has closed a public offering and private placement, generating proceeds of about $48 million (US$36 million). The offering was led by Soleus Capital and included new investor RA Capital Management, a U.S. healthcare and life sciences investment firm. Existing backers of ESSA, including BVF Partners, Omega Funds and Eventide Funds, also participated. The company is also backed by Clarus Ventures, a U.S. life sciences venture capital firm acquired last year by Blackstone Group. Founded in 2009, ESSA is focused on developing therapies for treating castration-resistant prostate cancer. It will use the deal's proceeds for continued research and development.

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]]> Altas Partners to acquire DuBois Chemicals from Jordan Co https://www.pehub.com/altas-partners-to-acquire-dubois-chemicals-from-jordan-co/ Wed, 28 Aug 2019 12:34:07 +0000 https://pehub.lndo.site/?p=3596788 Canadian long-term private equity firm Altas Partners has agreed to acquire DuBois Chemicals Inc, a Sharonville, Ohio-based provider of customized specialty chemical solutions. Terms weren't released for the deal, which is expected to close later this year. The seller is U.S. private equity firm Jordan Co, which bought DuBois in 2017 from Aurora Capital Partners. Established in 1920, DuBois serves more than 15,000 global customers, primarily in the mid-market manufacturing industry as well as the consumer car wash and fleet transportation markets. The company said the partnership with Altas will support its continued growth, organically and through selective acquisitions.

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]]> CapStreet Group-owned Marco acquires Bell & MacKenzie https://www.pehub.com/capstreet-group-owned-marco-acquires-bell-mackenzie/ Tue, 27 Aug 2019 21:48:50 +0000 https://pehub.lndo.site/?p=3596743 Marco Group International has acquired Bell & MacKenzie Co Ltd, a Hamilton, Ontario-based packager and distributor of abrasives and distributor of blast equipment and parts and accessories. No financial terms were disclosed. Founded in 1972 by Richard Bell and John MacKenzie, Bell & MacKenzie operates a conveyor and packaging operation and offers a broad array of products to several end markets. Marco, a Davenport, Iowa-based maker and distributor of surface preparation equipment, parts and supplies, said the deal supports its growth in Canada. U.S. private equity firm CapStreet Group completed a majority recapitalization of Marco in 2017.

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]]> Interface Fluidics nabs $6 mln in Equinor and Techstars-led Series A https://www.pehub.com/interface-fluidics-nabs-6-mln-in-equinor-and-techstars-led-series-a/ Tue, 27 Aug 2019 20:42:04 +0000 https://pehub.lndo.site/?p=3596716 Interface Fluidics, a Calgary-based oilfield laboratory services provider, has raised about $6 million (US$4.5 million) in a Series A financing. Equinor Technology Ventures, the venture capital arm of Norway's Equinor ASA, and U.S. accelerator Techstars led the round. Interface was founded in 2015 by CEO Stuart Kinnear, COO Tom De Haas and CTO David Stinton. It has developed a nanotechnology platform for optimizing oil production and visualizing fluid-fluid interactions through chemical testing at reservoir temperature and pressure. The company, a recent graduate of the first class of Techstars Energy Accelerator, said it will use the round's proceeds to expand capacity to meet market demand.

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]]> Canadian VC hits record level in H1 with $2.15 bln invested: CVCA https://www.pehub.com/canadian-vc-hits-record-level-in-h1-with-2-15-bln-invested-cvca/ Tue, 27 Aug 2019 16:42:20 +0000 https://pehub.lndo.site/?p=3596662 Canada’s venture capital (VC) market saw a record $1.28 billion invested in 143 financings in the second quarter of 2019, surpassing the prior record set in Q4 2018 , according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). VC investment stood at a record $2.15 billion at the end of June, exceeding the previous high-water mark of $1.67 billion in the first half of 2018. Information and communication technology companies took 54 percent of VC invested in the first half, followed by life sciences companies, which captured 27 percent. Early-stage activity led late-stage activity in this period, accounting for 45 percent of the total invested.

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]]> Canada’s PE market slows in H1 with $4.9 bln invested: CVCA https://www.pehub.com/canadas-pe-market-slows-in-h1-with-4-9-bln-invested-cvca/ Tue, 27 Aug 2019 10:50:48 +0000 https://pehub.lndo.site/?p=3596629 Canada's private equity (PE) market saw $3 billion invested in 158 deals in the second quarter of 2019, up 54 percent from three months earlier but down 63 percent from Q2 2018, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). PE investment between January and June totalled $4.9 billion, the lowest amount invested in a first half since CVCA began collecting data (2013). The dollars went to 289 deals in this period, down from 324 deals in H1 2018. There was a record share of deals in the information and communications technology sector in Q2 2019 (20 percent). The industrial and manufacturing sector captured a comparable share (21 percent).

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]]> Agtech company Vive Crop Protection raises $10 mln in funding https://www.pehub.com/agtech-company-vive-crop-protection-raises-10-mln-in-funding/ Tue, 27 Aug 2019 14:20:41 +0000 https://pehub.lndo.site/?p=3596566 Mississauga, Ontario-based agricultural technology company Vive Crop Protection has secured $10 million in follow-on financing. The round was backed by new and existing investors, including Middleland Capital and the cleantech practice of the Business Development Bank of Canada (BDC). Founded in 2006 out of the University of Toronto, Vive develops new ways to use crop protection products using its Allosperse Delivery System, which improves the targeting and performance of pesticide ingredients. This creates farming efficiencies, as well as higher crop quality and yields. Led by CEO Darren Anderson, Vive will use the funds raised for commercialization of new products and continued field development.

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]]> BDC Capital’s growth equity group invests in TeraXion’s succession https://www.pehub.com/bdc-capitals-growth-equity-group-invests-in-teraxions-succession/ Tue, 27 Aug 2019 13:25:51 +0000 https://pehub.lndo.site/?p=3596555 TeraXion, a Québec City-based designer and maker of photonic components, has finalized a succession plan and restructured its share capital. The deal was backed by an undisclosed minority investment from the growth equity group of BDC Capital. BDC's Growth and Transition Capital division also partnered with CIBC to help the company with its bank refinancing. TeraXion said CEO Alain-Jacques Simard will assume the role of executive chairman, while CFO Richard Kirouac will retire but continue to hold a board seat. Simard and Kirouac are both co-founders. Ghislain Lafrance will be promoted to CEO. Established in 2000, TeraXion serves businesses in the light and heavy manufacturing, telecommunications, medical equipment, aerospace and defence industries.

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]]> OMERS Ventures leads $6.5 mln Series A funding of PeerWell https://www.pehub.com/omers-ventures-leads-6-5-mln-series-a-funding-of-peerwell/ Tue, 27 Aug 2019 12:00:09 +0000 https://pehub.lndo.site/?p=3596500 PeerWell, a San Francisco-based health technology company, has secured US$6.5 million in a Series A financing. The round was led by OMERS Ventures, the venture capital arm of Canadian pension fund OMERS. It was joined by existing backer XSeed Capital and several individual investors. Founded in 2015, PeerWell provides a surgery optimization platform that helps patients with musculoskeletal conditions prepare for surgery and recover faster. In so doing, it contributes to lowering patient risk, controlling costs, and improving return-to-work times. Led by CEO Manish Shah, PeerWell will use the funds raised to accelerate the roll-out of its worker’s compensation solution.

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]]> OTPP’s Rosemarie McClean to become head of UN pension fund https://www.pehub.com/otpps-rosemarie-mcclean-to-become-head-of-un-pension-fund/ Mon, 26 Aug 2019 18:27:25 +0000 https://pehub.lndo.site/?p=3596456 Ontario Teachers' Pension Plan (OTPP) said Rosemarie McClean, COO, enterprise operations, and senior vice president, will depart the organization at the end of this year. McClean, who joined Ontario Teachers' in 1986 and assumed her current role in 2014, will become CEO of the United Nations Joint Staff Pension Fund (UNJSPF) in January 2020. Based in New York, UNJSPF provides benefits to more than 205,000 staff of the United Nations and 23 other member organizations. As of June 30, it oversaw assets valued at US$67.4 billion.

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]]> Transat shareholders OK $720 mln acquisition by Air Canada https://www.pehub.com/transat-shareholders-ok-720-mln-acquisition-by-air-canada/ Mon, 26 Aug 2019 17:40:39 +0000 https://pehub.lndo.site/?p=3596437 Shareholders of Transat AT Inc (TSX: TRZ), a Montréal-based tour operator, have approved the company's proposed acquisition by Air Canada (TSX: AC) for $18 per share in cash. Air Canada, Canada's largest airline, amended the deal earlier this month. It is valued at about $720 million and expected to close early next year. Transat's largest shareholders include Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec. Both voted in favour of the acquisition, according to a report by Reuters.

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