U.S. securities regulators should consider raising the bar for who qualifies to invest in certain riskier financial products, a U.S. government watchdog said in a report released on July 18, sister news service Reuters reported.
3 min read · 19 July 2013
Montreal-based menswear brand Samuelsohn has agreed to acquire Hickey Freeman from W Diamond Group. No financial terms were disclosed. Also, Samuelsohn, which is owned by Grano, a Canadian private equity firm that focuses on the retail, wholesale and manufacturing sectors, has inked a 40-year licensing agreement for Hickey Freeman with owner Authentic Brands Group. Based in Rochester, New York, Hickey Freeman is a manufacturer of suits for men.
5 min read · 19 July 2013
In the first half of 2013, a total of $66.3 billion in institutional capital was raised by U.S.-based buyout funds.
1 min read · 19 July 2013
New York State regulators are considering whether to let insurers with links to private equity firms buy annuity businesses reports Reuters, citing sources "familiar with the matter." One of the two acquisitions under review is the US$1.35 billion purchase by Guggenheim Partners' Delaware Life Holdings LLC affiliate of the U.S. annuity business of Canadian life insurer Sun Life Financial Inc. The deal was announced in December 2012. The Reuters story notes that imposition of regulatory requirements "could reduce the attractiveness of such deals for buyout firms."
1 min read · 18 July 2013
Toronto-based Fiera Axium Infrastructure has closed its purchase of four solar photovoltaic (PV) projects from Ontario Solar PV Fields Inc. In conjunction with the acquisition, the firm announced a $175 million senior debt financing that will partially fund construction of the projects. The construction, which is expected to be completed in the second quarter of 2014, will result in supply of up to 50 gigawatt hours (GWh) of electricity per year.
3 min read · 18 July 2013
Vancouver-based Allon Therapeutics Inc. (TSX: NPC), which is focused on bringing to market central nervous system therapies, has been acquired for an undisclosed sum by Paladin Labs Inc. (TSX:PLB), a specialty pharmaceuticals company based in Montréal. Allon Therapeutics earlier this year filed a proposal for bankruptcy and reorganization. The company was backed by Canadian venture capital firm NDI Capital and other investors.
3 min read · 18 July 2013
Appcelerator Inc., a portfolio company of Canadian venture capital firm Relay Ventures, has raised US$12.1 million in new funding in a deal led by Sinapore's EDBI. Other investors included eBay, Mayfield Fund, RedHat, Relay, Sierra Ventures, Social Internet Fund, Storm Ventures and Translink Capital. Founded in 2006, the Mountain View, California-based Appcelerator has developed a platform that enables enterprises to create, deliver and analyze entire mobile app portfolios.
3 min read · 18 July 2013
South America-focused mineral exploration company Sendero Mining Corp., formerly QRS Capital Corp., has received an investment from Canadian private equity firm Pinetree Capital. The investment occurred through the combination of the Thunder Bay, Ontario-based Sendero with Halo Resources Ltd., whereby Halo became a subsidiary of the former company. Following the transaction Pinetree will own up to 11.4% of the total shares of Sendero.
2 min read · 18 July 2013
Canadian venture capital firm Yaletown Venture Partners has made a seed-stage investment in Mover, an Edmonton, Alberta-based startup, peHUB Canada has learned. The financial terms of the deal were not disclosed. Mover, which provides a platform for moving and synchronizing files between cloud services, is a 2012 graduate of the Vancouver-based accelerator GrowLab, according to Yaletown. GrowLab has been backed by Yaletown since 2011.
1 min read · 18 July 2013
Toronto-based independent media company Blue Ant Media Inc., which was founded in 2011, has obtained a $4.8 million investment from Canadian merchant bank Difference Capital Financial (DCF). DCF is making the investment via an agreement to buy company shares from a private business owned by DCF's chairman Michael Wekerle. Blue Ant is also backed by alternative investments firm Kensington Capital Partners, venture capital firm Relay Ventures and Torstar Corp.
2 min read · 18 July 2013
