Lévis, Québec-based Creaform Inc has been bought for approximately US$120 million by Ametek Inc (NYSE: AME), a Berwyn, Penn.-based manufacturer of electronic instruments and electromechanical devices. Creaform is a global developer and manufacturer of portable 3D measurement technologies, and a provider of 3D engineering services. The company has been backed by Novacap Technologies, a private equity fund managed by Novacap, and Capital régional et coopératif Desjardins, a private equity fund managed by Desjardins Capital de risque. Novacap and Desjardins first invested in Creaform in 2009.
3 min read · 29 October 2013
Jasmine Capital Investments, a subsidiary of Singapore-based public and private equity investor The Chandler Corp, has bought 6,905,000 common shares of Africa Oil Corp (TSX VENTURE:AOI) at a price of approximately C$8.53 per share. The shares were acquired via a private placement. As a result of the transaction, Jasmine owns a 10.30% stake in Africa Oil. Based in Vancouver, Africa Oil is an oil and gas company with assets in East Africa. Update: The company at the same time announced the closing of a US$450 million private placement.
3 min read · 29 October 2013
GE Capital's Canadian franchise finance business has provided Original Joe's Franchise Group Inc, and parent company Franworks Franchise Corp, with an expanded senior credit facility totaling $49 million. Based in Calgary, Original Joe's is a full-service casual restaurant and bar with 60 locations. The company will used the facility to refinance and to build new Original Joe's and State & Main restaurants across Canada. Norwalk, Conn.-based GE Capital is a provider of commercial loans, leases and other mid-market finance solutions.
3 min read · 28 October 2013
Laval, Québec-based drug development company Bellus Health Inc has partnered with AmorChem, an early-stage life sciences fund managed by Canadian venture capital firm GeneChem, to develop drug candidates for the treatment of AL amyloidosis. As part of the agreement, Bellus will provide proof-of-concept data, know-how and expertise. AmorChem will fund the synthesis to be done at NuChem Therapeutics Inc, and the biological testing. NuChem Therapeutics is a specialty research portfolio company of AmorChem. Bellus is backed by Power Corp's Victoria Square Ventures and other investors.
5 min read · 28 October 2013
Montréal-based Solotech has received an undisclosed strategic investment from Claridge, the investment firm of the Bronfmans, Capital régional et coopératif Desjardins, a fund managed by Canadian private equity firm Desjardins Capital de risque, and Investissement Québec. The company, a provider of audio, video, lighting and other solutions to festivals, television shows and corporate events, will use the new funds to reorganize its share ownership, following the departure of a Québec institutional investor and Solotech co-president Denis Lefrançois. Investment proceeds will also support plans for expansion, through organic growth and acquisitions.
3 min read · 28 October 2013
Onex Credit Partners LLC, the credit investing arm of Canadian buyout firm Onex Corp (TSX: OCX), has completed its fourth collateralized loan obligation (CLO) offering in a private placement transaction that raised US$514 million, including US$40 million from Onex. Onex Credit, which has done four CLO offerings since early 2012, now manages over US$3.3 billion in senior secured loans and high yield bonds in a variety of strategies.
2 min read · 28 October 2013
Markham, Ontario-based GreenOwl Mobile, maker of a real-time mobile audio traffic platform, has secured $2 million in financing. The round was led by an unidentified Chinese-based team of mapping and location industry experts. GreenOwl intends to use funding proceeds to accelerate the development of its mobile traffic platform and to expand more rapidly into strategic markets in the United States and China. The company’s app, TrafficAlert, provides voice-based traffic guidance and descriptive incident reporting to avoid traffic delays.
2 min read · 28 October 2013
Siamese Systems Inc, a Milton, Ontario-based provider of investigation and inspection process management software, has obtained $600,000 in seed-stage financing. The investors were a mix of angel investors, including Brice Scheschuk, co-founder and CFO of Canadian telecom-focused Globalive Communications/WIND Mobile. Siamese Systems will use the new funds to expand its sales and marketing efforts, bring its MobileCSI application for public safety and law enforcement to new global markets, and accelerate product research and development.
2 min read · 28 October 2013
Mojio Inc, the Vancouver-based maker of a cloud-connected device for cars and an app for smartphones, has closed a seed-stage financing round totaling $2.3 million. The deal was led by Canadian venture capital firm Relay Ventures, with the participation of 500 Startups, BDC Venture Capital and a number of other private funds. Founded in 2012, Mojio will use the new funding to bring to market its connected car app, which the company said is in the final stages of development, and will launch within a few months. Additional products will be made available from the Mojio app store for cars, to be announced in Q1 2014.
4 min read · 28 October 2013
Lenders to U.S. mid-sized companies are holding the line on providing covenant-lite leveraged loans to borrowers, offering the structure only to the strongest credits and most liquid middle market issuers, sister news service Reuters Loan Pricing Corp reported.
4 min read · 28 October 2013
