Anges Québec, a network of 125 private investors that identifies, finances and coaches early-stage Québec companies, has invested $1 million in online optical retailer Bonlook Inc. Anges Québec Capital Fund contributed $150,000 to the deal, with the balance coming from 25 investors affiliated with Anges Québec. The Montréal-based Bonlook currently has plans to further develop its Web marketing, design and produce four collections per year, and hire more staff.
3 min read · 12 June 2013
The Vents du Kempt wind power project, which is located the Matapédia region of the Gaspé in Québec, has closed a senior debt transaction. The debt providers are institutional investors, including the Caisse de Dépôt et Placement du Québec, which contributed $50 million. An affiliate of Fiera Axium Infrastructure Inc., a Canadian private equity firm focused on core infrastructure opportunities, owns 49% of Vents du Kempt, while Eolectric Club LP, a fund formed by Fiera and Eolectric Inc. in 2012, owns a 51% interest.
5 min read · 11 June 2013
Toronto-based Spectra7 Microsystems Inc., an analog semiconductor company that recently established a Toronto Stock Exchange listing (under the symbol SEV), has appointed Guy Anthony as its new chief financial officer. Anthony previously worked at Intel Corp. Spectra7 was founded in 2012 via a merger backed by Canadian venture capital firms. Celtic House Venture Partners led the company's start-up financing with the participation of Edgestone Capital Venture Fund III and Ventures West Capital.
2 min read · 11 June 2013
Garda World Security Corp., a Montréal-based cash logistics and security solutions business, has commenced a private offering of US$50.0 million of additional senior notes due in 2017. Proceeds of the offering will be used to repay borrowings under the company's revolving credit facility and for general corporate purposes. Garda was taken private for $1.1 billion by British buyout firm Apax Partners and Stephan Cretier, the company's chairman and CEO, in November 2012.
4 min read · 11 June 2013
The proposed acquisition of Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., by TELUS Corp. has been officially terminated by the company, following a recent block of the deal by federal authorities. Mobilicity will now hold a meeting of its debt holders to vote on its previously announced recapitalization plan on June 25. The Toronto-based mobile service provider has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008.
2 min read · 11 June 2013
The undisclosed majority acquisition of Twin Rivers Paper Company Inc. by U.S. buyout firm Blue Wolf Capital Partners and Atlas Holdings has been completed. The company, a specialty paper manufacturer with facilities in Edmundston and Plaster Rock, New Brunswick and Madawaska, Maine, was previously owned by Brookfield Asset Management. Adam Blumenthal, managing partner of Blue Wolf, and Tim Fazio, managing partner of Atlas, have joined the company's board of directors.
4 min read · 11 June 2013
Waterloo, Ontario-based Navtech Inc., a provider of integrated flight operations solutions to commercial airlines, cargo carriers, general aviation and others, has secured an investment from private equity and debt finance firm Veronis Suhler Stevenson (VSS). Financial details of the transaction were not published. The investment by the New York-based VSS provides an exit to Boston-based private equity firm ABRY Partners, which has backed Navtech since November 2005.
3 min read · 11 June 2013
A majority of shareholders of publicly-traded Softchoice Corp., a Toronto-based provider of IT solutions and services, have approved the take-private offer made by Canadian buyout firm Birch Hill Equity Partners. Under the terms of the agreement, Birch Hill will buy all of the company's common shares for $20 per share, representing a total value of $412 million. If court approval is obtained, and other conditions are satisfied or waived, the deal is expected to be closed on or about June 18, 2013.
4 min read · 11 June 2013
Clairvest Group is racking up quite a track record. The Toronto-based firm last month won the 2013 ‘Deal of the Year’ from Canada’s Venture Capital & Private Equity Association for its sale of PEER 1 Network Enterprises -- its third such win in the past five years.
6 min read · 10 June 2013
Oakville, Ontario-based BENEV Capital Inc. (BCI), a provider of solutions for the treatment of contaminated soil, has sold its Saint Ambroise, Québec-based waste treatment plant and related assets to a company controlled by the plant's current manager Jean-Francois Landry for up to $10 million. The transaction was approved by BCI shareholders in May. BCI is a portfolio company of Canadian private equity firm Second City Capital Partners.
5 min read · 07 June 2013
