Toronto-based CDI Technologies and Phoenix, Arizona-based Troxell Communications, both providers of technology solutions to educational institutions, have merged. Terms weren't released for the deal, which will see the combined business called Troxell-CDI. Founded in 1981, CDI provides recertified technology, white-glove services and device lifecycle management to schools in North America. Its CEO, Erez Pikar, will lead Phoenix-based Troxell-CDI. The merger will enable expanded offerings, enhanced sales coverage and support, and a broader portfolio of vendors and partners, the companies said. CDI has been backed since 2014 by HIG Growth Partners. Troxell was acquired in 2008 by AEA Investors.
4 min read · 09 July 2019
Ontario Teachers’ Pension Plan has appointed Jo Taylor as its president and CEO, effective January 1, 2020. Taylor, who is currently executive managing director, global development, will replace Ron Mock, who is retiring. Mock joined Ontario Teachers' in 2001 and became president and CEO in 2014. Taylor began with Ontario Teachers’ in 2012, leading Europe, Middle East and Africa (EMEA) operations and later assumed additional responsibility for Asia-Pacific operations. His prior roles include serving as managing partner of U.K. private equity and infrastructure firm 3i Group. Toronto-based Ontario Teachers’ oversees more than $191 billion in net assets.
5 min read · 09 July 2019
Sydney, Nova Scotia-based cybersecurity technology company Securicy has raised $1.8 million in financing. Private backers of the round, including Hub Angels, Panache Ventures, Concrete Ventures, Innovacorp and U.S. angel investors, committed $1.2 million. Federal and provincial government sources accounted for the rest. Securicy is a software-as-a-service provider that specializes in helping small and medium-sized organizations achieve and maintain information security and privacy compliance. Founded in 2016 by CEO Darren Gallop and COO Laird Wilton, the company previously secured about $655,000 (US$500,000) in a pre-seed round.
3 min read · 09 July 2019
Coloursmith Labs, a Halifax-based provider of optical filter technology, has secured $600,000 in a pre-seed financing. The round was backed several investors, including Brigus Capital, Island Capital Partners and the venture capital fund of Killick Capital. Brigus President Wade Dawe will join the board. Founded last year by CEO Gabrielle Masone, Coloursmith develops lens-enhancing filters for contact lenses to address vision challenges. Its early-stage product pipeline includes optical filters to enhance colour vision and protect eyes from harmful blue light. Coloursmith will use the funds raised to further advance its technology and hire additional staff.
3 min read · 09 July 2019
Weever Apps, a Hamilton, Ontario-based workforce apps developer, has raised $1.625 million in financing. The deal includes $500,000 from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), as well as $1.125 million from private investors, among them MaRS Investment Accelerator Fund (IAF) and GreenSky Capital. Founded in 2011, Weever Apps provides cloud-based software products that help organizations enhance workflow visibility and efficiency. Led by CEO Steve McBride, Weever Apps will use the funds raised to commercialize Process Manager, a new solution designed for food and drug manufacturers, and reach new markets.
3 min read · 09 July 2019
GFL Environmental Inc, a Toronto-based waste management company, has acquired Soil Safe Inc, a Columbia, Maryland-based soil recycling specialist, for an undisclosed amount. Established in 1989, Soil Safe has recycled more than 30 million tons of non-hazardous petroleum contaminated soil for reuse outside of landfills in a range of construction and development projects. The deal follows GFL's agreement earlier this month to acquire Canada Fibers Ltd, a Toronto-based operator of facilities for the recovery and processing of recyclable materials. Last year, GFL was recapitalized by an investor group led by BC Partners, Ontario Teachers’ Pension Plan (OTPP) and others. The transaction valued the business at $5.1 billion.
2 min read · 09 July 2019
Northleaf Capital Partners has promoted nine investment professionals operating in the Toronto-based firm's global private equity, private credit, infrastructure, and portfolio strategy and analytics teams. On the private equity team, Northleaf promoted Michael Bowman to director, Ian Carew to managing director and venture partner, Vishal Shah to director, and Matthew Sparks to managing director. On private credit side, Michael Morris was promoted to managing director and Christopher Wang to vice president, while on the infrastructure side, Kriti Madan was promoted to vice president. And on the portfolio strategy and analytics team, Northleaf promoted Jon McKeown to managing director and Lance Mu to director.
3 min read · 08 July 2019
Hifi Engineering Inc, a Calgary-based provider of leak detection and incident prevention technology, has raised $10 million in financing from BDC Capital and an undisclosed strategic investor. BDC invested through Ottawa’s $700 million clean technology strategy, announced last year. Hifi's other investors include Cenovus Environmental Opportunity Fund and Enbridge Inc. Founded in 2007 by CTO John Hull, Hifi develops and supplies fibre optic sensing technology for preventative leak detection in pipelines and monitoring of critical assets. The funds raised will be used to accelerate the company's growth and support continued research and development.
3 min read · 08 July 2019
Cascades Inc (TSX: CAS) has agreed to acquire substantially all the assets of Orchids Paper Products Co, a Brentwood, Tennessee-based maker of tissue products, following approval of the deal by a U.S. bankruptcy court. Cascades, a Kingsley Falls, Québec-based supplier of packaging and tissue products, agreed to pay US$207 million in cash. The transaction is expected to wrap up in August or September. According to the Wall Street Journal, Cascades topped an offer made by U.S. hedge fund Black Diamond Capital Management. Black Diamond and Brant Paper Investment Co earlier in 2019 agreed to acquire Orchids' assets in exchange for US$175 million the company owed them.
5 min read · 08 July 2019
Canadian innovation hub MaRS Discovery District has appointed Jon Dogterom as senior vice president of venture services. Dogterom replaces Salim Teja, who earlier this year joined Radical Ventures as a partner and general manager. Dogterom was previously managing director of MaRS Cleantech. In the new role, he will lead MaRS' strategy of helping Canadian startups and scale-ups grow and enter new markets, and manage the organization’s stakeholder relations globally. Dogterom joined MaRS in 2010. Before then, he was director of business development at Toronto-based hydrogen systems maker Hydrogenics Corp.
3 min read · 08 July 2019
