Toronto-based alternative assets manager Integrated Asset Management Corp. (IAM) and its private corporate debt group, Integrated Private Debt Corp., recently provided a $25.4 million senior loan to N-Viro Sudbury LP, an affiliate of Canadian biosolids management company N-Viro Systems Canada LP. Funding will be used to support the design and construction of a biosolids facility in Sudbury, Ontario. N-Viro Systems was acquired by CFI Infrastructure Opportunities Fund in 2008.
2 min read · 18 July 2013
BDC Venture Capital has committed $1.5 million to 10 Canadian companies that have graduated from technology accelerators, including for the first time New Brunswick's LauncH36. Companies seeded by BDC with $150,000 are: pricing and risk management software company AnalyzeRE; accounts payable automation provider BeanEvo; modern crafts platform BRIKA; job applicants screening company Cream.hr; app testing platform Dandy; link and content sharing provider Groupnotes; live audio platform Instaradio; online vitamins retailer Koge; e-commerce website enabler RUMAnalytics and; medical imaging company ViewsIQ.
5 min read · 18 July 2013
Vancouver's Avanti Mining Inc. (TSX-V: AVT), a molybdenum exploration and development company whose primary Avanti Kitsault Mine project is located in northern British Columbia, has closed its previously announced US$10 million secured bridge loan from U.S. mining-focused private equity firm Resource Capital Funds (RCF), which owns 37% of the company's shares. Avanti also closed the restructuring and extension of an existing US$20 million bridge facility from RCF and CEF Holdings Ltd.
4 min read · 18 July 2013
Toronto-based semiconductor company ViXS Systems Inc., a developer of media software for the consumer electronics and video service provider industries, has completed its previously announced going-public transaction and will commence trading on the TSX under the symbol "VXS." As part of the transaction, the company raised a total of $57.4 million. ViXS was founded in 2001 with the backing of Canadian venture captial firm Celtic House Venture Partners. Other investors include Export Development Canada, New Enterprise Associates and Novacap.
4 min read · 18 July 2013
Canadian discount store chain The Bargain! Shop Holdings Inc. and its affiliates have been bought for an undisclosed amount by Red Apple Stores Inc., a subsidiary of U.S. mid-market private equity firm BlackRock Kelso Capital. The sale completes a process begun last month, when The Bargain! Shop accepted BlackRock Kelso's going concern offer. The Mississauga, Ontario-based company filed for protection under the Companies’ Creditors Arrangement Act to restructure its operations in February 2013.
1 min read · 18 July 2013
Ottawa's Corsa Technology Inc., a networking hardware start-up focused on delivering a programmable datapath for software defined networking, has secured $4.2 million in Series A financing. The deal was led by Canadian venture capital firm Celtic House Venture Partners. Among the founders of the company is CEO Bruce Gregory, who was previously president and CEO of venture-backed Extreme Packet Devices Inc. (EPD), acquired for US$415 million by PMC-Sierra in 2000. Celtic House was one of the original seed funders of EPD.
2 min read · 18 July 2013
Edmonton, Alberta-based Medwell Capital Corp. (TSX-V: MWC) has increased its stake in Montréal's Mimetogen Pharmaceuticals Inc., a developer of treatments for neurodegenerative diseases of the eye. In total, Medwell will have invested $2.8 million and will own 11.3% of the company on a fully diluted basis. Medwell, a provider of capital and advisory services to the healthcare industry, is a portfolio company of buyout firm Birch Hill Equity Partners. Mimetogen is backed by venture capital firms, including iNovia Capital and VIMAC Ventures.
2 min read · 18 July 2013
Johnson Controls Inc said on July 18 it would had reached an agreement to sell part of its auto electronics business to a strategic buyer for about $700 million and that it would seek to sell the rest of the unit.
2 min read · 18 July 2013
Private equity firms Bain Capital and Altor increased their offer for the EWOS processing unit of Norwegian fish farmer Cermaq to 6.5 billion crowns ($1.08 billion) from 6.2 billion to clinch a deal after a month of talks, Cermaq said on July 18.
1 min read · 18 July 2013
MCW Energy Group Ltd. has named Sergey Grechishkin to its board of directors, replacing Martin J. Doane. Grechishkin is chairman of the investment committee of Redline Capital Management S.A., and previously headed up the private equity, sales and trading retail brokerage operations of Russia's KIT Finance Group. MCW Energy is a Toronto-based holding company involved in fuel distribution and the creation of oil sands recovery technology.
3 min read · 18 July 2013
