Docebo, a Toronto-based corporate learning management system, has filed a preliminary prospectus with Canadian regulators for an initial public offering (IPO). The number and price of common shares to be sold on the Toronto Stock Exchange have not been determined. Founded in Italy in 2005, Docebo provides a cloud-based software-as-a-service platform for internal and external workforce training. It is used at 1,500 organizations in more than 90 countries. Docebo's primary shareholders are Intercap Equity, an affiliate of Canadian merchant bank Intercap, and Canadian enterprise software private equity firm Klass Capital.
3 min read · 21 August 2019
U.S. private equity firm PMC Capital Group has acquired StyroChem Canada Ltd, a Montréal-based manufacturer of expandable polystyrene (EPS) grades. No financial terms were disclosed for the deal, which saw PMC partner with StyroChem's management team. The seller was WinCup Inc, a U.S. maker of disposable food service products. Established in 1975 as Expandable Technologies, StyroChem supplies its EPS products to customers in food service, packaging, construction, casting and other industries in North America and abroad. StyroChem President Glenn Wredenhagen said the partnership with PMC will support the company's growth, both organically and through acquisitions.
3 min read · 21 August 2019
GHGSat, a Montréal-based provider of emissions monitoring services, has raised $3.3 million of funding from Sustainable Development Technology Canada (SDTC). GHGSat is focused on remote sensing of greenhouse gas and air quality gas emissions from industrial sites. The funds raised will support a study in British Columbia's Montney region to compare emissions data collected by terrestrial sensors to GHGSat's satellite and aircraft measurements. Field operations will begin in 2020. Last year, GHGSat closed a US$10 million Series A2 round led by OGCI Climate Investments and joined by Schlumberger, Space Angels and Business Development Bank of Canada (BDC).
3 min read · 21 August 2019
Thoma Bravo has agreed to sell the MOSAIC product of portfolio company Quorum Software in response to a challenge from Ottawa's Competition Bureau. As part of the agreement, MOSAIC's purchaser must be acceptable to the Commissioner of Competition. In June, the Bureau said Thoma Bravo's ownership of the two largest energy reserves software businesses in Canada, Quorum and Aucerna, was likely to reduce competition. It sought an order requiring the sale of either MOSAIC or Aucerna's Val Nav. Thoma Bravo announced the acquisition of Aucerna, a Calgary-based provider of planning, execution and reserves solutions to the oil and gas industry, in February.
2 min read · 21 August 2019
Mucci Farms has acquired a controlling interest in Orangeline Farms, a Leamington, Ontario-based grower of specialty greenhouse produce. No financial terms were disclosed. Founded in 2000 by the Kniaziew family, Orangeline produces fruits and vegetables, including pepper offerings, under the Zing! Healthy Foods brand. Mucci, a Kingsville, Ontario-based grower, packer and shipper of greenhouse fruits and vegetables, said the deal advances its goal to increase local and regional production. The company also announced plans to expand in Canada and the United States. In 2017, Mucci secured an investment from the industries group of Novacap, a Canadian mid-market private equity firm.
3 min read · 21 August 2019
DW Healthcare Partners (DWHP) has promoted Gabriel Becher to managing director. Becher joined DWHP in 2016 as a principal. He previously served as a portfolio manager in the private equity group of Alberta Investment Management Corp (AIMCo). Becher was also an associate with TorQuest Partners between 2005 and 2007. DWHP also promoted Eric Moore to principal and Aaron Kennedy to vice president. Moore and Kennedy joined the firm as associates in 2012 and 2015, respectively. DWHP, a Toronto- and Park City, Utah-based healthcare private equity firm, earlier this year closed DW Healthcare Partners Fund V, raising US$610 million.
3 min read · 21 August 2019
Brookfield Asset Management has sold its 45 percent interest in Acadian Timber Corp (TSX: ADN), a Vancouver-based supplier of primary forest products. The private deal reflected a consideration of about $128 million in cash. The buyer was Macer Forest Holdings Inc. As a result, Brookfield Managing Partner Ben Vaughan has resigned as Acadian's chair. Brookfield Timberlands Management LP will continue as the company's external manager. Acadian owns and manages about 1.1 million acres of timberlands in New Brunswick and Maine, and provides management services for about 1.3 million acres of Crown-licensed timberlands.
3 min read · 21 August 2019
Champlain Financial Corp has recruited André La Forge as an advisory partner. La Forge joins from Entrepreneur Capital, an investor in lower mid-market opportunities in Québec and Ontario.
2 min read · 21 August 2019
Fire Safety & Protection LLC (FSP) has acquired Georgian Bay Fire & Safety Ltd, an Owen Sound, Ontario-based life safety and property protection business. Terms weren't disclosed. Established in 1969, Georgian operates more than 60 vehicles to service fire, security and communication systems for Ontario commercial and residential customers. FSP, an Atlanta-based fire and life safety company, said the acquisition advances its goal of building a strong presence in North America. FSP was formed in 2018 by Sunny River Management, a U.S. family office private equity investor.
3 min read · 20 August 2019
European Clean Energy Infrastructure, an affiliate of Swiss asset manager Capital Dynamics, has agreed to acquire a portfolio of wind projects in Northern Ireland from Brookfield Renewable Partners. No financial terms were disclosed. The portfolio consists of four operating wind projects with a total generation capacity of 68 megawatts. Brookfield Renewable Partners, majority owned by Toronto-based alternative investment firm Brookfield Asset Management, will continue to provide operational support for the portfolio.
3 min read · 20 August 2019
