Interview Rocket Ltd., a Halifax, Nova Scotia-based developer of an online Software-as-a-Service job candidate screening tool, has secured seed-stage financing. The investment, which totaled C$250,000, will allow the company to accelerate the development of new features and implement a comprehensive marketing strategy. Interview Rocket's VC backers include First Angel Network, Cabot Technology Solutions and the Atlantic Canada Opportunities Agency.
2 min read · 07 February 2013
Cantronic Systems Inc., a Vancouver, British Columbia-based manufacturer and distributor of infrared thermal imaging and night vision systems, recently completed its previously-announced going-private transaction. The deal occurred by way of a statutory plan of arrangement under the province's Business Corporations Act. Cantronic has since 2008 received venture capital investments from Pender Growth Fund, managed by PenderFund Capital Management.
2 min read · 06 February 2013
Iogen Corp., an Ottawa, Ontario-based biotechnology company announced the sale of its industrial enzyme subsidiary, Iogen Bio-Products, to Danish enzyme manufacturer Novozymes A/S for a purchase price of C$67.5 million and potential earn-out payments of up to C$12.5 million. The transaction is expected to be completed before the end of February, 2013. Iogen is a portfolio company of Canadian venture capital firm BEST Funds, and has since 2000 received financing from other international private equity firms.
2 min read · 06 February 2013
Montréal, Québec-based Valeant Pharmaceuticals International Inc., which develops, manufactures and markets pharmaceutical products, primarily in the areas of dermatology, neurology and branded generics, closed its acquisition of Natur Produkt International JSC, a specialty pharmaceutical company located in Saint Petersburg, Russia. The purchase price was approximately C$163 million. Natur Produkt has in past received investment from Russian private equity firms Renova Capital and Quadriga Capital Russia.
1 min read · 05 February 2013
Vestec Inc., a privately-owned speech technology company founded by researchers at the University of Waterloo in Waterloo, Ontario, has raised US$1.5 million from V. Raman Kumar, the founder and former CEO of MModal Inc., an early voice-based medical transcription company based in Franklin, Tennessee. Mr. Kumar also joined Vestec's Board of Directors as Vice Chairman. In October, 2012, Vestec raised US$6.4 million from Sansar Private Equity Partners.
2 min read · 05 February 2013
TeamSnap Inc., a Boulder, Colorado-based mobile and web service for managing ongoing team sports and other activities, has closed a US$2.75 million round of financing. Torstar Corp., a Canadian media company that owns The Toronto Star newspaper, led the deal. Other investors included venture capital firms Toba Capital, Hbam LLC (run by Harris Barton Co-Invest Fund), Trinity Ventures, and eonBusiness.
2 min read · 05 February 2013
Toronto-based Trillium Therapeutics Inc., which specializes in immunotherapy and cancer stem cell research, is merging with Stem Cell Therapeutics Corp., also a Toronto-based life sciences company. Under the terms of the deal, which will be closed in the first quarter of 2013, Trillium's security holders will receive C$1.2 million in cash and C$1.65 million in common shares in the new enterprise. Trillium has been backed by a number of Canadian venture capital firms since 1997.
8 min read · 05 February 2013
Teine Energy Ltd., a Calgary, Alberta-based company focused on acquiring and developing oil and gas properties, recently acquired Viking light oil assets in the Dodsland and Plato areas of southwest Saskatchewan from Long Run Exploration Ltd. Funding of the transaction, which was completed last December, came in part from an equity financing provided by Canada Pension Plan Investment Board (CPPIB). CPPIB has been a backer of Teine Energy's acquisitions and other initiatives since June 2010.
3 min read · 04 February 2013
Canadian mid-market buyout firm Clairvest Group has made an investment in CRS Contractors Rental Supply LP, a private company focused on providing construction rental equipment and related merchandise, with locations across Ontario. The investment, totaling C$39.5 million, originated through Clairvest’s rental services domain activity. The CRS investment is Clairvest's first disclosed investment in 2013. Last month, the firm successfully exited PEER 1 Network Enterprises Inc. through that company's sale to Cogeco Cable Inc.
2 min read · 04 February 2013
Quantum Utility Generation LLC, a Houston, Texas-based power generation company backed by the U.S. private equity firm Quantum Energy Partners and Canada Pension Plan Investment Board,recently entered into an agreement to acquire equity interests in three cycle natural gas fired generation and co-generation projects located in Florida. The interests in these facilities are being sold by Atlantic Power Corp., a power generation and infrastructure company with offices in the United States and Canada. The transaction, valued at approximately US$136 million, is expected to close in the first quarter of 2013.
3 min read · 04 February 2013
