Canadian mid-market private equity firm Ironbridge Equity Partners has promoted Anthony Creo and Connor Kingston to vice president. Creo joined the Toronto-based firm in 2015 from Oliver Wyman, where he served as a senior consultant. Beginning as an Ironbridge associate, he was promoted in 2017 to senior associate. Kingston also signed on as an associate in 2015 and was promoted two years later to senior associate. He joined from Ernst & Young Orenda Corporate Finance, where he was an associate. Ironbridge is currently investing from its third fund, Ironbridge Equity Partners III, which raised $238 million in 2016.
2 min read · 31 July 2019
Ironbridge Equity Partners has invested in Alumni Classroom Furniture Inc, a Waterloo, Ontario-based provider of educational furniture solutions. No financial terms were released for the deal, which saw Ironbridge partner with Alumni management. Founded in 2004 by Paul Godwin, Alumni designs, manufactures and distributes classroom desks, seating, tables and accessories for pre-school through Grade 12. It operates from three facilities in Canada, the United States and China to serve a North American customer base. Godwin said the partnership with Ironbridge, a Canadian mid-market private equity firm, will help accelerate the company's growth in existing and adjacent markets.
2 min read · 31 July 2019
Power Energy Corp has acquired Nautilus Solar Energy LLC, a Summit, New Jersey-based solar developer and asset manager. No financial terms were disclosed. The sellers were Nautilus management and Virgo Investment Group, a U.S. thematic private equity firm. Virgo invested in 2015. Power Energy is an affiliate of Power Corp of Canada (TSX: POW), a Canadian management and holding company. It said it will support Nautilus' further expansion in key U.S. solar markets. Founded in 2006, Nautilus acquires, develops, executes and manages distributed and utility-scaled generation solar projects in North America. It will continue to manage a solar portfolio developed with Virgo.
4 min read · 31 July 2019
Clearbanc, a Toronto-based provider of marketing capital for e-commerce brands, has raised about $395 million (US$300 million) in additional financing. The equity portion, reportedly about $66 million (US$50 million), was led by U.S. venture capital firm Highland Capital Partners. It was joined by Inovia Capital and Emergence Capital, both of which invested in last year's combined $160 million (US$120 million) financing. The balance of the new round, led by Arcadia Funds and Upper90, will capitalize a fund intended to back Clearbanc's e-commerce clients. Led by co-founders and CEOs Andrew D’Souza and Michele Romanow, Clearbanc is the creator of the 20-Min Term Sheet, which offers a non-dilutive alternative to traditional funding sources.
5 min read · 31 July 2019
Kanetix Ltd has acquired RateSpy.com, a Toronto-based online provider of mortgage rate comparisons and news, and intelliMortgage Inc, a Toronto-based digital mortgage broker. No financial terms were disclosed. Kanetix, a Toronto-based digital customer acquisition platform for insurance and financial services, said the two companies joined other brands forming its online rate comparison marketplace. Established in 1999, Kanetix was acquired last year by Ontario Teachers' Pension Plan. The primary seller was U.S. private equity firm Monitor Clipper Partners, which bought the business in 2011.
2 min read · 31 July 2019
Grenco Science, a Los Angeles-based cannabis vaporizer brand, has raised an undisclosed amount in a Series A financing. Investors in the round included Serruya Private Equity, the investment arm of Canada's Serruya family, and Stable Road Capital. Launched in 2012, Grenco Science uses technology to develop a line of portable cannabis vaporizers, including the original G Pen. The financing's proceeds will support expansion of the company's product range and global growth.
3 min read · 31 July 2019
U.K. healthcare private equity firm GHO Capital Partners has sold Caprion Biosciences, a Montréal-based provider of immunology and proteomics services to the biopharmaceutical industry. No financial terms were disclosed. The buyer was Arsenal Capital Partners, a U.S. healthcare and specialty industrials private equity firm. In a separate release, Arsenal said it will invest in Caprion's merger with Antwerp, Belgium-based HistoGeneX, creating a single provider of research services for the development of immunology- and oncology-focused drugs. HistoGeneX was formerly backed by Waterland Private Equity Investments. Founded in 2000, Caprion was acquired and recapitalized in 2016 by GHO.
4 min read · 31 July 2019
A consortium led by Canadian private equity firm Champlain Financial Corp has acquired La Canadienne, a Montréal-based maker, distributor and retailer of women's winter footwear. No financial terms were disclosed. The consortium includes La Canadienne's founders, among them Penny Shuster. Fashion industry professionals Nicholas Martire and Nicolas Topiol have joined the company respectively as CEO and chairman. Established in 1961, La Canadienne sells its boots and shoes, as well as outerwear and accessories, online and in stores across North America. Champlain Partner Scott Jackson said his firm will support La Canadienne's expansion into new markets.
3 min read · 31 July 2019
Clairvest Group has made a majority investment of £23 million ($38 million) in FSB Technology (UK) Ltd, a London-based sports betting and gaming platform. The investment, intended to support the company's growth in new and existing markets, may be increased by up to £4 million under certain conditions. Founded in 2007, FSB provides business-to-business sports and internet gaming technology. Its solutions include data and pricing feeds, sports betting software, and trading services. The platform deal is Clairvest's 13th in the gaming space and 10th by Clairvest Equity Partners V. Earlier this year, Clairvest closed its sixth mid-market fund, raising about $1.1 billion (US$850 million).
3 min read · 30 July 2019
Calgary-based 3D robotics supply chain company Attabotics has raised nearly $33 million (US$25 million) in a Series B financing. The round's backers included new investors Coatue Management, Comcast Ventures and Honeywell Ventures, as well as returning investors Forerunner Ventures and Werklund Growth Fund. Founded in 2015, Attabotics provides a robotic warehousing and fulfillment system that helps retailers reduce space requirements and accelerate shipping processes to meet demand. Led by CEO and CTO Scott Gravelle, Attabotics will use the funds raised for continued growth, including new hires, scaling manufacturing operations and developing new technologies.
3 min read · 30 July 2019
