Lumenpulse Inc., a Montréal-based manufacturer of high-performance, architectural LED-based lighting solutions for commercial, institutional and urban environments, has secured new financing totaling $5 million. The company's backers are Canadian venture capital firms the Fonds de solidarité des travailleurs du Québec (FTQ) and Investissements W2, which invested C$3.3 million and $1.7 million, respectively. In 2011, Lumenpulse raised C$16 million in equity and debt, which included a term loan and working capital line of credit from Silicon Valley Bank.
3 min read · 20 February 2013
The infrastructure investment arm of Kohlberg Kravis Roberts & Co. has acquired three solar photo-voltaic energy projects (SSM Solar) based in Sault Ste. Marie, Ontario. SSM Solar, which has a total capacity of 69MWdc and 60MWac, was sold to KKR for an undisclosed price by Starwood Energy Group Global LLC, an affiliate of Starwood Capital, a private equity firm based in Greenwich, Connecticut. During its period of ownership, Starwood Energy oversaw the construction and operation of the Ontario solar facilities. The final phase of development was concluded in 2012.
3 min read · 20 February 2013
Temporal Power Ltd., a Mississauga, Ontario-based developer and manufacturer of flywheel electrical energy storage systems, has completed a C$10 million Series B financing round. The company's backers include strategic investor Enbridge Emerging Technology Inc., a division of Enbridge Inc., and Northwater Intellectual Property Fund, a fund managed by Canadian venture capital firm Northwater Capital Management. Northwater also led Temporal Power’s Series A financing round, which was completed in July, 2011.
4 min read · 20 February 2013
JOLT, a technology accelerator and fund created by MaRS Discovery District in 2012, selected six startups for its Winter 2013 accelerator program. The companies are: Flee, a travel recommendation app, FlyerFlo, a mobile platform and app that allows consumers to discover new brands and promotions, HypeJar, a platform for hyping consumer products, PUSH Technologies, an app-enabled fitness device, Singspiel, a learning platform and app for music practice, and Stylekick, an online shoppers directory. Company teams will begin the program by attending the 2013 LAUNCH Festival.
3 min read · 20 February 2013
The Hillman Companies Inc. has closed its previously-announced acquisition of all of the issued and outstanding shares of H. Paulin & Co. Ltd., a Toronto-based manufacturer and distributor of fasteners, fluid system products, automotive parts and retail hardware components. The cash purchase price of C$27.60 per share brings the total value of the transaction to approximately C$103 million. Cincinnati, Ohio's Hillman has been a portfolio company of US private equity firm Oak Hill Capital Partners since 2010.
3 min read · 19 February 2013
Buyout and related private equity (PE) deal-making in Canada showed sustained momentum in 2012, with disbursements totaling C$11.6 billion, just edging out the C$11.5 billion of 2011, reported Thomson Reuters (publisher of peHUB Canada). Additionally, deal volume in the Canadian market was the highest on record. Control-stake buyouts, minority investments, and other PE transactions totaled 313 last year, up 4% from 2011, when the previous record was set. Fund-raising activity also increased, with a total of C$4.6 billion in new capital commitments going to 23 domestic funds, up 24% from the year before.
2 min read · 19 February 2013
Canada’s venture capital (VC) market steered a steady course in 2012, with levels of dollars invested matching activity in 2011, according to Thomson Reuters (publisher of peHUB Canada). VC invested totaled C$1.5 billion, and involved 395 clean-tech, IT, life sciences and other companies, which is up slightly from the year before. Fund-raising activity grew more substantially, with new capital commitments reaching their highest level in a decade. A total of C$1.8 billion was committed to 33 Canadian VC funds in 2012, up 73% from 2011, and surpassing activity in every year since 2002.
3 min read · 19 February 2013
Xagenic Inc., a molecular diagnostics-focused startup company, has secured up to C$990,000 in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The proceeds of the FedDev investment will help facilitate the company's development of its lab-free molecular diagnostic testing system. Xagenic, which is based in Toronto, has been backed by Canadian venture capital firms since 2010. Its investors include CTI Capital, MaRS Investment Accelerator Fund, and Ontario Emerging Technologies Fund.
2 min read · 19 February 2013
One Earth Farms Corp., an agri-food and consumer products company, acquired Beretta Farms Inc., a Toronto-based natural and organic branded meat products company. The transaction was done in consideration of cash and shares in One Earth Farms. One Earth Farms, which is based in Saskatoon, Saskatchewan, is a subsidiary of Sprott Resource Corp., which has invested in the company in partnership with First Nations since 2009. The company has also been backed by CAPE Fund, a Canadian private equity firm focused on investing in aboriginal businesses and entrepreneurs.
6 min read · 19 February 2013
SD Tech Fund, which makes equity investments in Canadian enterprises that are developing processes and technologies addressing climate change, air quality, clean water, and clean soil projects, has invested a total of C$61.8 million in 23 new projects. Companies backed by the fund's latest investments include Borealis GeoPower Inc., a Calgary-based developer of geothermal energy exploration technologies, and Whale Shark Environmental Technologies Ltd., a Vancouver-based developer of marine hull-cleaning technologies. SD Tech Fund is managed by Sustainable Development Technology Canada.
2 min read · 19 February 2013
