As reported last month by peHUB Canada, Edmonton, Alberta-based startup Mover received a seed stage investment from Canadian venture capital firm Yaletown Venture Partners. TechCrunch further reports that the financing round totaled $1 million and that Yaletown was joined by other investors, including Double M Partners, Amplify, Medra Capital, and angel investors Jarl Mohn, Rick Barry of Quant Ventures, and Dennis Phelps. Mover, which provides a platform for moving and synchronizing files between cloud services, is a 2012 graduate of the Vancouver-based accelerator GrowLab.
1 min read · 08 August 2013
Calgary-based Galvanic Applied Sciences Inc. (TSXV:GAV), a manufacturer of analysis and measurement equipment for the natural gas and process industries, has been taken private through an acquisition by an affiliate of private equity firms Right Lane Capital, 2SV Capital and Tuckerman Capital. The acquisition price was approximately $20 million. The company's new investors, led by New Hampshire-based Tuckerman, now own 69.7% of issued and outstanding common shares.
4 min read · 08 August 2013
Investors in TPG Capital’s flagship buyout fund have agreed to give the U.S. private equity firm more time to spend its undeployed capital.
2 min read · 08 August 2013
Due to a production error, some numbers appeared in the wrong columns in the tables that ran in the July 15 edition of Buyouts (pp. 30-37). For a PDF copy of corrected first-half fundraising tables, showing progress by U.S. sponsors toward their targets, click here. Subscribers can also access a corrected copy of the complete edition of the magazine here.
1 min read · 08 August 2013
Halifax, Nova Scotia-based Immunovaccine Inc. (TSX-V: IMV), a clinical stage vaccine developer, has obtained a secured loan of $5 million from the provincial government. The debt financing will be used to fund a portion of working capital for clinical development through 2016. Founded in 2007, Immunovaccine has in past received private placements from various sources, including the Atlantic Canada Opportunities Agency.
5 min read · 07 August 2013
Emporia, Kansas-based Hopkins Manufacturing Corp., a maker of branded automotive aftermarket products, has acquired Mallory Industries Inc., a provider of winter snow tools and automotive window squeegees, with headquarters in Blenheim, Ontario. The financial terms of the transaction were not published. Hopkins has made a number of acquisitions since it was bought in June 2011 in a management buyout led by Canadian mid-market private equity firm ONCAP. The Toronto-based ONCAP is affiliated with Onex Corp.
2 min read · 07 August 2013
Calgary-based oil sands developer MEG Energy Corp. (TSX: MEG) has appointed Eric Toews to the position of CFO. Toews joined the company from BMO Capital Markets, where he held the position of managing director with a focus on the energy sector. MEG Energy completed a $700 million initial public offering in 2010, but continues to have private equity investors, including the Caisse de dépôt et placement du Québec, KERN Partners and Warburg Pincus.
2 min read · 07 August 2013
Calgary-based independent power producer Maxim Power Corp. (TSX:MXG), has agreed to sell 100% of its interest in subsidiary Maxim Power (USA) Inc. to Patriot Power Holdings LLC for US$112 million, including the assumption of US$22 million of debt. The deal is expected to close in the final quarter of 2013. Patriot Power is an affiliate of U.S. private equity firm Rockland Capital, which is focused on power and energy infrastructure markets.
4 min read · 07 August 2013
Crowdfunding platform Kickstarter announced it has opened up to Canadian projects, and will in August host logistical workshops in Toronto and Montréal. Starting Monday September 9, Canadians will be able to launch their projects. The New York-based company, founded in 2009, has engaged more than 4.6 million people in pledges of over US$734 million, funding more than 46,000 projects. Enterprises that have been supported by Kickstarter include smart-watch maker Pebble Technology, which was launched by Canadian entrepreneur Eric Migicovsky, a University of Waterloo engineering graduate.
3 min read · 07 August 2013
Just Be Friends, a Kelowna, British Columbia-based interactive social education platform that helps families and children connect, has secured seed-stage financing of $650,000. The company startup, founded earlier in 2013, is being backed by private investors, the Southern Interior Development Initiative Trust, and the National Research Council of Canada. Just Be Friends is currently a client of regionally-based accelerator Accelerate Okanagan.
3 min read · 07 August 2013
