No matter how tough things get, Canadian VCs are always doing deals and creating value. What’s more, the companies they back are evidently quite successful at creating collateral benefits, such as economic innovation and high-value jobs. That’s the key finding of a new research report published by Canada’s Venture Capital and Private Equity Association (CVCA) in partnership with Industry Canada and Statistics Canada.
3 min read · 03 November 2013
Ottawa-based Plasco Energy Group Inc, which converts solid waste into renewable energy, has announced that Raymond Floyd is joining the company as president & CEO. Roderick Bryden, who had been Plasco's CEO since 2005, will assume the post of executive chairman. Floyd has over 40 years of industrial experience, including executive roles with General Motors, Exxon Mobil and Suncor Energy. Plasco has raised over $250 million in venture capital and private equity investment over the years, with its current backers including Ares Management, Killick Capital and Soros Fund Management.
4 min read · 01 November 2013
Transforce Inc (TSX: TFI), a Montréal-based company focused on the transportation and logistics industry, has agreed to buy the truckload, less-than-truckload and freight logistics businesses of Clarke (TSX: CKI, CKI.DB.A) for $88 million. The transaction is expected to be completed before the end of 2013. The businesses, Clarke Transport Inc and Clarke Road Transport Inc, have been portfolio investments of Clarke for close to a decade. Based in Halifax, Nova Scotia, Clarke is a private investor in a variety of private and publicly-traded companies.
4 min read · 01 November 2013
SmartReno.com has raised $500,000 in new venture capital funding, in a deal led by angel investor Pierre Fleurent, and with the participation of four members of Anges Québec and Anges Québec Capital Fund. The investment completes a second round of financing totaling $725,000. Other investors in the company include BDC Venture Capital and Société de développement économique Ville-Marie. The Montréal-based SmartReno.com, which has raised $1.04 million in funding to date, provides a matching service between people who have renovation projects and qualified and available contractors.
3 min read · 01 November 2013
Medical Pharmacies Group Ltd (MPGL) has completed its previously announced purchase of Desjardins Healthcare Group, an Ottawa-based provider of specialty pharmacy services, medical supplies and equipment. The acquisition price was not disclosed. The Pickering, Ont.-based MPGL, which specializes in pharmacy services to long-term care facilities and retirement homes, has been a portfolio investment of Canadian private equity firm Callisto Capital since 2011. In 2012, MPGL bought three B.C.-based pharmacies, Marks Pharmacy, Okanagan Resident Plus Pharmacy and Resident Plus Pharmacy in Surrey.
2 min read · 01 November 2013
Shares of Container Store Group Inc doubled in their U.S. market debut, as investors encouraged by a recent run of impressive “first-day pops,” piled into the stock, sister news service Reuters reported.
2 min read · 01 November 2013
Montreal-based investment firm Fiera Capital Corp. has closed its previously announced buys of LA-based Bel Air Investment Advisors, its affiliate Bel Air Securities and New York based investment manager Wilkinson O'Grady & Co. The transactions were valued at approximately $156.3 million. According to Fiera, the acquisitions are part of the company's strategy to expand into the U.S. market.
2 min read · 01 November 2013
Energy Future Holdings, straining under $40 billion of debt, said talks with creditors had broken off, a day after sources said the company would make a critical interest payment, sister news service Reuters reported.
1 min read · 01 November 2013
Waterton Global Resource Management is approaching a second close on US$600 million for its second mining and metals fund, which is targeted for US$750 million. The Toronto-based private equity firm is likely to close its latest partnership later this year or in early 2014, sources told peHUB. Waterton’s debut fund raised US$200 million in 2010.
1 min read · 31 October 2013
Vancouver-based Avanti Mining Inc (TSX VENTURE:AVT), a molybdenum exploration and development company, has entered into an agreement with U.S. private equity firm Resource Capital Funds (RCF) for a $40 million loan. According to the company, the financing will be used as working capital to begin pre-construction activities for its Avanti Kitsault Mine project located in northern British Columbia. Avanti Mining is backed by RCF and Hong Kong-based CEF Holdings.
5 min read · 31 October 2013
