OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, has raised about $31 million (US$23 million) in financing. The round was led by Delta-v Capital, a U.S. technology growth equity firm, with participation from Salesforce Ventures, the venture capital arm of U.S. software company Salesforce.com Inc. Founded in 2003, OSF Commerce, a Salesforce partner, provides technology, consulting, implementation and online shop management services to emerging and established brands and merchants. Led by CEO Gerry Szatvanyi, the company will use the funds raised to advance global growth by hiring talent, investing in artificial intelligence technology and making acquisitions.
4 min read · 07 May 2019
BDC Capital's Growth & Transition Capital recently invested $12 million in Pixel Union, a Victoria, British Columbia-based e-commerce apps and themes agency and partner in the Shopify ecosystem. The financing's proceeds supported Pixel Union's buyout earlier this year by the company and investors, including Canadian technology holding company Tiny Capital, which acquired a majority stake. The seller was Teligence Capital, which acquired Pixel Union in 2014 from its co-founder, Tiny Managing Partner Andrew Wilkinson. Established in 2009, Pixel Union provides products and services that have helped more than 100,000 brands launch and grow online stores.
3 min read · 07 May 2019
Radical Ventures, a Canadian venture capital firm focused on artificial intelligence (AI), has launched a new fund with a target of about $470 million (US$350 million). The fund's cornerstone limited partners include Canada Pension Plan Investment Board (CPPIB), Public Sector Pension Investment Board (PSP Investments), TD Bank Group and Wittington Investments Ltd. Radical was founded in 2017 by Jordan Jacobs, Tomi Poutanen, Benji Sucher and Maks Volkovs, previously executives with Toronto-based AI startup Layer 6, acquired in 2018 by TD. Radical's new fund will make early-stage and growth investments in mostly Canadian companies developing AI products or applying AI to create a competitive advantage in large markets.
3 min read · 07 May 2019
Toronto-based mining company Adventus Zinc Corp (TSX-V: ADZN) has launched a private placement offering of common shares intended to generate about $12.1 million in proceeds. The financing will be led by Ecuadorean conglomerate Consorcio Nobis. Nobis is subscribing for $7.4 million, giving it a 9.9 percent interest in Adventus. The balance is expected to result from the exercise of anti-dilution rights held by existing investors, including U.K. mining private equity firm Greenstone Resources and U.S. mining private equity firm Resource Capital Funds. Established in 2017, Adventus is primarily focused on the Curipamba copper-gold-zinc project in Ecuador.
5 min read · 06 May 2019
Hub International Ltd has acquired the assets of Kelliher Agencies, a Kelliher, Saskatchewan-based full-service insurance brokerage with a focus on the agribusiness industry. No financial terms were disclosed. Craig Bolton, co-owner of Kelliher, will join HUB International Manitoba Ltd. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, a Chicago-based insurance brokerage, joining existing owner Hellman & Friedman (H&F).
2 min read · 06 May 2019
SIM-Cognibox, a Shawinigan, Québec-based provider of risk management and contractor compliance software, has raised undisclosed growth financing from a group of investors. The investors included Georges Karam, who also joined SMI-Cognibox as its new CEO, BDC Capital's growth equity group, Fondaction and W Investments Group. Established in 1972, SIM-Cognibox helps businesses manage risks associated with outsourcing specific to their sector of activity. The company compiles health and safety, sustainable development, quality and procurement data for more than 8,000 contractors performing work for over 250 hiring organizations.
4 min read · 06 May 2019
Jon McCarthy, a 12-year veteran of OMERS Private Equity, left the firm at the beginning of May, a person with knowledge of the matter told PE Hub Canada. McCarthy, a member of OPE’s Toronto team, joined in 2007 as an associate and went on to become one of the group’s 12 managing directors. His focus was the North American market. McCarthy was responsible for several platform investments, including Caliber Collision Centers, a Lewisville, Texas, auto-collision-repair business, which OPE sold earlier this year to Hellman & Friedman. He was especially active in healthcare investments, a longtime area of OPE specialization.
2 min read · 03 May 2019
U.S. private equity firm Platinum Equity has wrapped up its acquisition of Livingston International Inc, a Toronto-based customs brokerage and trade services company. No financial terms were disclosed for the deal, which was announced in February. The sellers were Canada Pension Plan Investment Board (CPPIB) and U.S. private equity firm Sterling Partners, which acquired the listed Livingston in 2010 for $324 million. Established in 1945, Livingston is the largest pure-play customs brokerage in North America.
3 min read · 03 May 2019
Calgary-based power generation company TransAlta Corp (TSX: TA) has initially closed a $750 million investment by Brookfield Asset Management. Brookfield Renewable Partners invested $350 million in exchange for unsecured, subordinated debentures. The rest will be invested in October 2020 in exchange for a new series of redeemable, retractable first preferred shares. The deal, announced in March, is intended to help TransAlta become a clean energy producer by 2025. Brookfield's Harry Goldgut and Richard Legault were recently elected to the board.
3 min read · 02 May 2019
Entertainment Cruises has acquired Gananoque Boat Line (GBL), a Gananoque, Ontario-based tour boat operator in the Thousand Islands. No financial terms were disclosed. The sellers were Harry Clarke and Chris McCarney. The business will continue to operate independently under the existing GBL brand and remain headquartered locally. Entertainment Cruises, a Chicago-based dining and sightseeing cruise company, said the deal, which follows last year's acquisition of Toronto-based Mariposa Cruises, extends its Canadian presence and grows its portfolio to 53 vessels. Entertainment Cruises is a portfolio company of PPC Partners, a U.S. mid-market private equity firm.
4 min read · 02 May 2019
