Capital markets data provider Tick Data Inc., based in Great Falls, Virginia, has been bought back by the company's former management team for an undisclosed amount. The buyback deal was led by Neal Falkenberry and Thomas Myers with additional funding coming from Tactex F1 Private Equity Fund, which is managed by Montréal-based Tactex Asset Management. Tick Data was previously owned by Penson Worldwide Inc. and Canadian financial institution Desjardins Group.
3 min read · 16 May 2013
MaRS Innovation has announced that University of Toronto Early Stage Technology will, with its support, put five healthcare companies through its incubation program. The companies include eQOL, a provider of digital tools for people living with chronic conditions; E-Twenty Development, a software provider which helps people navigate hospitals; Root2Crown, which offers software for dental risk assessment; Treata Smart Solutions, a manufacturer of technology to help memory-impaired older adults and caregivers; and TrendMD, a medical trending engine delivering research articles.
6 min read · 16 May 2013
Canadian venture capital firm Vanedge Capital has made a US$3 million Series A investment in OpenGeo Inc., a New York-based provider of commercial open source geospatial software. At the same time, the company spun out from its incubator parent OpenPlans, and is now focused on growing its product and consumer-support initiatives. Vancouver-based Vanedge invests in interactive entertainment and digital media businesses.
3 min read · 16 May 2013
Restructuring mobile service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., has agreed to be acquired by Canadian telecommunications company TELUS Corp. for $380 million. The purchase price will be applied to repay all of the company's first and second lien debt, with the remainder being used to repay certain other unsecured debt securities. Mobilicity has since its founding in 2008 been backed by several private equity investors, including U.S. firm Quadrangle Capital Partners.
4 min read · 16 May 2013
Laval, Québec-based Altasciences Group, which through a group of companies, including Algorithme Pharma Inc., provides early-stage clinical drug development services in Phase I and Phase II testing, has bought Vince and Associates Clinical Research of Overland Park, Kansas, which operates in the same sector. The acquisition price was not disclosed. Altasciences-Algorithme is a portfolio investment of Canadian mid-market buyout firm Kilmer Capital Partners. Kilmer has been invested in the holding company's assets since 2007.
3 min read · 16 May 2013
Medisys Corporate Health LP, a provider of preventative, diagnostic and consultative healthcare services to corporations, has closed its previously-announced undisclosed buy of Plexo Inc., which operates medical centres throughout Québec. The Montréal-based Medisys has been a portfolio company of Persistence Capital Partners (PCP), a healthcare-focused private equity firm, since 2008.
2 min read · 16 May 2013
Counsel Corp., which in April announced reorganization plans, has provided details about winding down its private equity operations. The company noted that the five-year term of the first fund of subsidiary Knight's Bridge Capital Partners (KBCP) has expired, and that its current mandate is to maximize the value of its investments and "dispose of them at the optimal time." These investments include Toronto-based brand development and licensing company Authentic Brands Group LLC, backed with US$250 million by KBCP and Leonard Green & Partners in 2010.
5 min read · 16 May 2013
U.S.-based private debt and equity firm Prospect Capital Corp. has provided a US$150 million senior secured term loan in support of the recapitalization of Arctic Glacier Inc., a producer, marketer, and distributor of high-quality packaged ice to consumers. The recapitalization is intended to help the company to pursue acquisitions and organic growth initiatives. The Winnipeg, Manitoba-based Arctic Glacier was bought out of bankruptcy by private equity firm HIG Capital for $449 million in 2012.
4 min read · 15 May 2013
Canadian private equity firm Lynx Equity has arranged a debt facility with the Toronto-Dominion Bank in connection with its undisclosed acquisition of Walkerton, Ontario-based Superior Road Products Ltd. in March. Superior Road focuses on pavement preservation and dust suppressants to industrial, commercial, and agricultural communities. Lynx Equity pursues investments in mid-market businesses based primarily in Ontario.
2 min read · 15 May 2013
BioAmber Inc., a company focused on converting renewable feedstocks into chemicals including succinic acid, has now closed its initial public offering at US$80 million. The company's units are listed on the New York Stock Exchange under the symbol "BIOA.U".. BioAmber, which has offices in Montréal and Minneapolis, Minnesota, is backed by U.S.-based venture capital firms and other investors, including include Clifton Group, LANXESS, Mitsui, Naxos Capital and Sofinnova Partners.
3 min read · 15 May 2013
