GTI Transport Solutions Inc has acquired Jetco, a Houston-based transporter providing flatbed, heavy-haul, intermodal, logistics and specialized loads in the United States. No financial terms were disclosed for the deal, which follows GTI's acquisition in February of Precision Specialized Division Inc. GTI, a Dorval, Québec-based provider of open-deck, specialized and over-dimensional freight services, said the Jetco transaction allows it to expand into the United States and create an operational platform there. The company now has seven locations in the United States and three in Canada. GTI was acquired in 2014 by the industries group of Canadian mid-market private equity firm Novacap.
3 min read · 13 May 2019
Pangaea Ventures, a Canadian pioneer of advanced-materials investing, has opened a new U.S. office to broaden its access to sector opportunities south of the border. Earlier this year, Pangaea set up shop in Phoenix, Arizona, increasing North American locations to three, including its Vancouver headquarters. Chris Erickson, Pangaea's founder and general partner, told PE Hub Canada the move recognizes the fact that a growing share of the firm’s deal flow and portfolio companies resides in the U.S. News of the U.S. market expansion follows this month’s close of Pangaea Ventures Fund IV at $95 million (US$70 million). The fund is the largest in the firm’s nearly two-decade history, up 19 percent from Fund III, which raised about $80 million (US$60 million) in 2012.
3 min read · 10 May 2019
Baltimore, Maryland-based malvertising prevention platform Clean.io has raised US$2.5 million in a seed-stage financing. Real Ventures, a Canadian early-stage venture capital firm, led the round. Launched in 2017, Clean.io, formerly Clean Creative, has developed technology that uses behavioural analysis to protect publishers, advertisers and consumers from malicious advertising threats. It will use the funds raised to hire more engineering and security talent. Real Ventures is currently investing from its fourth fund, Real Ventures IV, which closed at $180 million in 2017.
2 min read · 10 May 2019
Lane, a Toronto-based property technology company, has raised $2.5 million in financing, according to Real Estate Weekly and other media sources. The round was backed by Alate Partners, Panache Ventures and Colliers Proptech Accelerator, managed by Techstars. Founded in 2014 by CEO Clint Robinson and CPO Kofi Gyekye, Lane provides tenant engagement solutions geared to commercial office buildings. It will use the funds raised for new hires and U.S. market expansion, Real Estate Weekly said. Alate, a Toronto-based strategic property technology platform, was launched last November with a $40 million seed-stage financing backed by Dream Unlimited and Relay Ventures.
1 min read · 10 May 2019
An affiliate of Canadian private equity firm Peerage Capital Group has agreed to acquire Sotheby's International Realty Canada (SIRC), a Toronto-based luxury real estate company. Terms weren't released for the deal, which is expected to close this month. Peerage Realty Partners Inc, a Toronto-based luxury real estate brokerage organization, is buying SIRC from Dundee Corp. The acquisition will expand Peerage Realty's market footprint and add agents and $5 billion in annual sales. Don Kottick will become SIRC's new president and CEO. Peerage Capital invests in real estate, asset management, wealth advisory services, land assembly and aviation services.
5 min read · 10 May 2019
U.S. private equity firm Reverence Capital Partners has agreed to acquire a 75 percent stake in Advisor Group Inc, a Phoenix, Arizona-based network of independent financial advisors. Terms weren't disclosed. The main sellers were U.S. private equity firm Lightyear Capital and Canadian pension fund Public Sector Pension Investment Board (PSP Investments), which acquired the company in 2016. The deal, expected to close in Q3 2019, will see Lightyear, PSP and other investors retain a 25 percent interest. Centerbridge Partners was in talks to acquire Advisor Group for more than US$2 billion, Bloomberg reported in April.
5 min read · 09 May 2019
3 min read · 09 May 2019
Thentia, a Toronto-based provider of regulatory and compliance software, has secured an up-sized $2.5 million debt facility. The funding came from Espresso Capital, a Canadian lender to growth-stage technology companies. It follows a non-disclosed venture debt financing provided last September. Founded in 2014 and led by CEO Julian Cardarelli, Thentia offers database technology designed for regulatory bodies, licensing boards and private businesses to help them streamline operations in regulation, compliance and governance. It will use the facility's proceeds for continued growth and entering into new markets.
3 min read · 09 May 2019
Sustainable Development Technology Canada (SDTC) has unveiled a pilot project to support clean technology companies in partnership with incubators and accelerators. The project, which will partner with up to eight accelerators, will provide up to 30 grants of $50,000 to $100,000 each this pilot year. SDTC announced initial grants for four companies. They are: Brisk Synergies, a Waterloo-based automated traffic safety analysis platform; Intelline, a Waterloo-based maker of mechanical cryocoolers; Direct-C, an Edmonton-based leak detection monitor for the energy industry; and SoilReader, a Winnipeg-based precision soil analysis specialist.
4 min read · 09 May 2019
Montréal-based cardiovascular drug maker Milestone Pharmaceuticals Inc has priced its Nasdaq Stock Market initial public offering of 5.5 million common shares at US$15 per unit. The company expects to see proceeds of about $111 million (US$82.5 million). Founded in 2005, Milestone is the developer of etripamil, a nasal spray formulation of calcium channel blockers used to terminate episodes of transient cardiovascular conditions. Milestone raised roughly $220 million in financing. This includes $105 million raised last year, led by RTW Investments and joined by BDC Capital, Domain Associates, Fonds de solidarité FTQ, Forbion, GO Capital, Novo Holdings, Pappas Capital, Tavistock Group, Tekla Capital Management and Venrock.
3 min read · 09 May 2019
