Anges Québec, a firm which undertakes early stage technology deals on behalf of a large network of angel investors located in Québec, has contributed to a C$1.7 million investment in Handyem Inc. Anges Québec Capital Fund, a private-public partnership formed in 2012, and other investors also participated in the financing. Québec City-based Handyem designs and manufactures vitro diagnosis instruments for life science researchers.
4 min read · 24 January 2013
Anthony Lacavera, founder and former chairman and CEO of Wind Mobile Canada Inc., plans to launch a new venture capital firm this year, according to The Canadian Press. Lacavera said his new firm, Globalive Capital, will focus on making strategic investments in companies in telecom, technology and media sectors. Last week it was announced that Toronto-based Wind Mobile will be acquired by Egypt's Orascom Telecom Holding SAE. Further information concerning Globalive Capital can be found on its new website.
1 min read · 24 January 2013
Homburg Invest Inc., a Dartmouth, Nova Scotia-based manager, acquirer and developer of residential, commercial, retail and industrial real estate, expressed concerns about the partial tender offer by Catalyst Capital Group to holders of mortgage and other bonds. The company said in a statement that it believes the bid is "not in the best interests" of bondholders and might be "disruptive" of Homburg's restructuring process, which has been underway since 2007. Toronto's Catalyst specializes in control investments in distressed and undervalued situations.
3 min read · 24 January 2013
Silver Lake Partners, which is trying to finalize a bidding group to take Dell Inc. into private ownership, has convened talks with Canada Pension Plan Investment Board (CPPIB), says a report by Reuters. Sources "with knowledge of the matter" said Silver Lake approached CPPIB and other limited partners in its most recent fund in an effort to close what might be the largest buyout since the global financial crisis, Reuters reported. CPPIB and Silver Lake have partnered in other major transactions, including the 2009 acquisition of Skype Technologies SA.
1 min read · 24 January 2013
Premier Tech Ltd., which makes solutions for the processing and packaging materials, has bought the assets of Portugal's Mouldman - Gestão de Moldes SA, a manufacturer of rotomoulded plastic parts. The financial terms of the deal were not disclosed. Rivière-du-Loup, Québec-based Premier Tech has recently received backing from private equity firm Fonds de solidarité des travailleurs du Québec (FTQ).
1 min read · 24 January 2013
Top Hat Monocle Inc. of Waterloo, Ontario, has secured an additional C$1.1 million in follow-on funding from Silicon Valley venture capital firm Felicis Ventures, according to TechCrunch. Top Hat Monocle, which develops classroom interaction and online homework tools, raised C$8 million in June 2012 from a syndicated deal led by Emergence Capital Partners and iNovia Capital. Further details about Top Hat Monocle can be obtained at the company's website.
1 min read · 24 January 2013
Mistral Venture Partners, an Ottawa-based venture capital firm established in 2012, has closed the first phase of its fund-raising activity. Mistral's debut partnership raised C$10 million of its targeted C$35 million, the proceeds of which will go primarily toward investments in innovative startups and other companies located in eastern Canada. Mistral’s team includes general partners who have invested in more than 50 companies and deployed in excess of C$250 million across multiple venture capital funds.
3 min read · 24 January 2013
Galson Laboratories Canada Inc., a subsidiary of New York's Galson Laboratories, Inc., has bought the Occupational and Environmental Health Laboratory (OEHL) of Hamilton, Ontario. The financial terms of the transaction were not released. For Galson Laboratories, which specializes in occupational and industrial hygiene analysis and monitoring solutions, the OEHL acquisition marks its fifth major expansion since the company was acquired by US private equity firm Bolder Capital in June, 2010. The Mississauga, Ontario-based Galson Laboratories Canada was founded in 2012.
2 min read · 23 January 2013
A new study by the Calgary-based Pembina Institute says Canada lags its top competitors when it comes to investing in emerging clean technology sectors. According to interviews with leading entrepreneurs, investors and others, a key problem is access to venture capital financing. The Pembina report also noted that Canadian companies have accounted for only two percent of clean energy patents granted in the United States since 2002, compared to Korea’s five percent, Germany’s seven percent, and Japan’s 26 percent.
3 min read · 23 January 2013
The board of directors of the Toronto-based Inmet Mining Corp. have advised its shareholders to reject the C$5.1 billion takeover bid from First Quantum Minerals Ltd. Board Chairman David Beatty said the offer "fails to adequately compensate shareholders for Inmet's low risk asset base and its strong prospects for growth." Inmet, which owns and operates a major copper mine in Panama, among other assets, is backed by Ellington Investments, a subsidiary of Temasek Holdings, which invested in the company in 2011.
7 min read · 23 January 2013
