NexusCrowd has launched its Canadian online investment platform, which allows accredited investors to co-invest alongside venture capital and private equity firms in deals that have reached at least 50 percent of their funding target. It also announced its first transaction, which NexusCrowd said creates the opportunity to participate in the development of Galleria Centre, a $100 million retail mall located in the Greater Toronto Area (GTA). The deal partner is Terracap Investments, a Toronto-based commercial real estate developer.
4 min read · 09 September 2015
Dicom Transportation Group, a Canadian provider of expedited transportation and logistics services, has completed its fifth add-on acquisition of 2015. The company bought Eastern Connection, a U.S.-based asset-light provider of business-to-business pick-up and delivery services. No financial terms were released. Montréal-based Dicom said the deal will expand its overnight parcel network in the Northeastern United States. Along with Eastern, the company has so far this year acquired Courier Express Enterprises, Extra Express, Modern Forwarding and Orbis Logistics. It has been a portfolio investment of U.S. private equity firm Wind Point Partners since early 2014.
3 min read · 09 September 2015
Telecommunications provider and publisher Québecor Media Inc, a unit of Québecor Inc, said it had bought 28.6 percent of Caisse de dépôt et placement du Québec's stake in the company for $500 million, Reuters reported. The Caisse, Canada's second-largest pension fund manager, continues to hold an 18.9 percent interest in Québecor Media.
1 min read · 09 September 2015
Solomon Owayda and Christine Patrinos have partnered to launch Mozaic Capital, a firm that advises institutional investors on the sale of interests in private equity and related limited partnerships. Selling has become an increasingly popular activity in what is still considered a largely illiquid asset class.
3 min read · 08 September 2015
British private equity firm Forward Dimension Capital (FDC) announced plans to invest US$15 million over the next 18 months in Digital Underground Media Inc, a media business focused on the digital out-of-home advertising industry. Vancouver-based Digital Underground manufactures and installs its own technology in underground and train tunnels to deliver video ad images to commuters. It said it will use the proceeds of FDC's investment to advance global growth through initiatives in the areas of sales and marketing and product development. The company is led by President and CEO Ken Bicknell, who was previously a vice president at ENSIS Management, a Canadian venture capital firm.
3 min read · 08 September 2015
Affiliates of U.K.-based investment bank Avington Group have filed a preliminary prospectus with Canadian securities regulatory authorities for an initial public offering (IPO). The IPO is targeted to raise a total of $110 million for Avingstone Acquisition Corp, a special purpose acquisition corporation (SPAC) focused on hospitality and related real estate opportunities in the Americas and Europe with an enterprise value ranging from $250 million to $500 million or more. The Avingstone SPAC IPO follows IPOs launched for other SPACs this year, including Acasta Enterprises Inc, Alignvest Acquisition Corp and Gibraltar Growth Corp.
6 min read · 08 September 2015
Tesco is selling its South Korean arm, Homeplus, to a group led by private equity firm MBK Partners for US$6.1 billion, as the British supermarket retreats from foreign markets to focus on reviving its troubled domestic business, Reuters reported. The PE consortium includes the Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Temasek Holdings.
3 min read · 08 September 2015
U.S.-based Zillow Group (NASDAQ: Z & ZG) has agreed to sell its real estate-focused customer relationship management (CRM) division, Market Leader, to an affiliate of Constellation Software Inc (TSX: CSU). The deal, which is valued at US$23 million, is expected to close in the fourth quarter. Headquartered in Toronto, Constellation acquires, manages and builds vertical market software businesses. Publicly listed in 2006, it remains a portfolio investment of OMERS Private Equity.
3 min read · 04 September 2015
Endurance Energy Ltd has completed its previously-announced buy of StonePoint Energy Inc (TSX-V: STO), a junior oil and gas business. The deal, which reflected a total purchase price of about $16.75 million, will see StonePoint delist its shares on the TSX Venture Exchange this week. Based in Calgary, Endurance was created in 2008 to acquire and develop natural gas assets in Western Canada. It has been portfolio company of U.S. private equity firm Warburg Pincus since 2012.
2 min read · 04 September 2015
PointClickCare, a portfolio investment of U.S. growth equity firm JMI Equity, has filed with Canadian and U.S. regulatory authorities for a proposed initial public offering of its common shares. The Mississauga, Ont.-based company, which plans to list on both Nasdaq and the Toronto Stock Exchange, filed with the Securities and Exchange Commission to raise US$100 million, according to a report by Renaissance Capital LLC. Founded in 1995, PointClickCare is a cloud-based software platform focused on the senior care market. It secured a minority investment from JMI in February 2011. Last month, JMI led the $160 million funding of Toronto-based Intelex Technologies Inc.
3 min read · 04 September 2015
