Clairvest Group said portfolio company Accel Entertainment Inc, a Bolingbrook, Illinois-based video gaming terminal operator, has agreed to merge with TPG Pace Holdings Corp, a special purpose acquisition company (SPAC). In a separate release, TPG Pace said the combined business, which will retain the name Accel, is expected to have an initial value of about US$884 million. Clairvest, a Canadian mid-market private equity firm, said it has not consented to the transaction and is considering options. As reported by PE Hub Canada, Clairvest acquired a minority stake in Accel in 2016, investing US$32.5 million. TPG Pace is sponsored by an affiliate of U.S. private equity firm TPG.
2 min read · 14 June 2019
Copperleaf Technologies, a Vancouver-based provider of decision analytics software solutions, has raised more than $13 million (US$10 million) in a strategic investment. The investor was National Grid Partners (NGP), the venture capital and innovation arm of U.K. utility National Grid plc. NGP Director Andre Turenne will join the board. Founded in 2000 and led by CEO Judi Hess, Copperleaf provides an asset management planning and decision analytics system designed for utilities and other asset-intensive businesses. One of its customers is National Grid. Copperleaf will use the funds raised for technology development and growth into new markets and regions worldwide.
4 min read · 13 June 2019
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has acquired a majority stake in Bremner Trio Hydro Corp, owner of two construction-stage hydro projects near British Columbia's Harrison Lake. Terms weren't released. The deal saw CC&L Infrastructure partner with Greengen Holdings Ltd and Sts'ailes Energy Development LP. Debt financing of $197 million for construction of the 27-megawatt Trio Creek and 23-megawatt Bremner Creek projects was also closed. Once operational, the facilities will have a combined expected output of about 150 gigawatt hours per year. CC&L Infrastructure is part of Canadian asset manager Connor, Clark & Lunn Financial Group Ltd.
3 min read · 13 June 2019
Traction Guest, a Vancouver-based provider of enterprise visitor management software, has raised about $17 million (US$13 million) in a Series A financing. U.S. venture capital firm Bessemer Venture Partners led the round. It was joined by existing backer Salesforce Ventures and others. Traction Guest was incubated by Traction on Demand, a cloud consulting and application development partner with Salesforce. Launched in 2015, the company provides cloud-based solutions that help businesses leverage visitor data, shape their brand experience and strengthen security. The funds raised will be used to expand Traction Guest's team and meet global demand.
3 min read · 13 June 2019
Arjun Infrastructure Partners and Fengate Asset Management have acquired ONroute Services Centres, a Toronto-based operator of a chain of 23 service plazas and rest areas along highways in Ontario. Terms weren't disclosed. The sellers are KD Infrastructure LP, an affiliate of Canadian family office Kilmer Group, and the Canadian subsidiary of U.S.-based HMSHost Corp. Founded in 2010, ONroute currently serves more than 40 million motorists per year. It exclusively operates centres for Highways 400 and 401 and has a first right of opportunity to develop centres for other 400 series highways. Arjun is a U.K. infrastructure investment firm. Fengate is a Canadian investor in infrastructure, private equity and real estate.
3 min read · 13 June 2019
Jack’s Family Restaurants, a U.S. operator of quick-service restaurants, is exploring a sale, according to a report by the Wall Street Journal. Homewood, Alabama-based Jack's, backed since 2015 by Canadian private equity firm Onex Corp, could reach a valuation of about US$800 million or more, the report said, based on its growth and multiples that other restaurant groups are securing. Established in 1960, Jack's specializes in burgers, fried chicken, made-from-scratch biscuits, crinkle-cut fries and hand-dipped shakes.
1 min read · 13 June 2019
Caisse de dépôt et placement du Québec (CDPQ) has joined an Australis Partners-led group to acquire a 50 percent stake in each of Alianza Fiduciaria and Alianza Valores, both Columbian financial institutions. Terms weren't disclosed. The seller was U.S. private equity firm Advent International. Australis, a Latin American private equity firm, CDPQ and International Finance Corp have formed a partnership with Organización DeLima, owner of the other 50 percent stake, to manage the investment. Based in Bogata, Alianza Fiduciaria is a trust and asset management company, while Alianza Valores is a brokerage house.
4 min read · 12 June 2019
Medteq said its venture capital fund has invested in eight health technology companies based in Montréal and Halifax. The $14 million fund, which partnered in financings with Anges-Quebec, Anges-Quebec Capital, Innovacorp, Real Ventures and others, contributed to total investment in the startups of more than $11 million. The companies backed were Densitas, My Intelligent Machines, My01, Optina Diagnostics, Saccade Analytics, Spinologics, Spring Loaded Technology and Thorasys. Medteq is a Canadian medical innovation group funded by government through Centres of Excellence for Commercialization and Research, the private sector and other sources.
4 min read · 12 June 2019
NACO announced Derrick Hunter, president and CEO of Bluesky Equities, has won the 2019 Canadian Angel of the Year award. The award, sponsored by BDC Capital, recognizes an early-stage investor who has made a significant contribution to the growth and development of the Canadian entrepreneurial ecosystem. Calgary-based Hunter has been an active member of the Alberta angel community for many years, investing in more than 50 startups. He is also a founding partner and fellow at Creative Destruction Lab-Rockies. NACO, the national association for angel investors, incubators and accelerators, has more than 4,000 members.
4 min read · 12 June 2019
MindBridge Analytics Inc (MineBridge Ai), an Ottawa-based auditing software platform, has raised $15.1 million in follow-on financing, according to a report by the Globe and Mail. The round was led by U.S. business software venture capital firm PeakSpan Capital, the report said. It was joined by Real Ventures, Reciprocal Ventures, National Bank of Canada and The Group Ventures, all of which invested in last year's $8.4 million Series A financing. MindBridge Ai will also receive $14.5 million from Ottawa's Strategic Innovation Fund, the report said. Founded in 2015 by CEO Eli Fathi and CSO Solon Angel, MindBridge Ai uses artificial intelligence and machine learning to help auditors uncover errors and misstatements in financial data.
1 min read · 12 June 2019
