SLR Consulting has acquired Novus Environmental Inc, a Guelph, Ontario-based consultancy specializing in air quality, wind and climate, sound and vibration, and sustainable water. Terms weren't disclosed. Founded in 2010, Novus also has an office in Calgary. The company will continue to operate under existing management, including Principal Darron Chin-Quee. SLR, a Buckinghamshire, U.K.-based provider of environmental and advisory solutions, said the Novus team will join its Canadian business. SLR was acquired last year by U.K. private equity firm Charterhouse Capital Partners. The sellers included 3i Group.
2 min read · 24 April 2019
Quikserv Corp has acquired Easi-Serv Products, a Burnaby, British Columbia-based maker of transaction windows and related systems for the quick-service restaurant industry. No financial terms were disclosed. The seller was Franke Foodservice Solutions Inc. Quikserv, a Houston-based maker of pass-thru and security transaction systems, said the acquisition creates synergies and strengthens its position in the North American market. Quikserv was acquired in 2018 by U.S. private equity firm River Associates Investments.
2 min read · 24 April 2019
U.S. private equity firm Centerbridge Partners is in talks to acquire Advisor Group Inc, a Phoenix, Arizona-based network of independent financial advisors, sources told Bloomberg. The purchase price is more than US$2 billion, the sources said. Advisor Group is owned by U.S. private equity firm Lightyear Capital and Canadian pension fund Public Sector Pension Investment Board (PSP Investments). Lightyear and PSP Investments acquired the business in 2016 from American International Group Inc.
1 min read · 24 April 2019
Togetherwork has acquired UnionWare, a Winnipeg-based union membership management software company. No financial terms were disclosed. Founded in 1991 by President Jim Perchaluk, UnionWare serves labour organizations in Canada, the United States and Australia representing more than 3.5 million members. Togetherwork, a New York-based provider of software and payments for groups and organizations of all types and sizes, said the acquisition, its first internationally, expands its geographic footprint. Togetherwork was acquired last year by U.S. private equity firm GI Partners. The seller was Aquiline Capital Partners.
2 min read · 24 April 2019
TIMIA Capital Corp has supplied a $2 million facility to Echosec Systems Inc, a Victoria, British Columbia-based location intelligence software platform. TIMIA will deploy an initial $1 million, followed by a further $1 million when certain milestones are met. Founded in 2013, Echosec provides a web-based data discovery platform that helps organizations detect online content for threat intelligence. It aggregates and maps data from hundreds of sources ranging from social media to chat forums to the darknet. Vancouver-based TIMIA provides growth financing to technology companies in exchange for a royalty on revenue.
3 min read · 24 April 2019
BDC Capital’s Women in Technology Venture Fund (WIT Fund) has invested $14 million in 19 Canadian women-led companies since its capital pool was increased to $200 million in 2018. That brings total investing to more than $17 million in 25 companies. Recent investments include Bridgit, a Kitchener, Ontario-based construction software provider, which raised $6.2 million in March, and Sampler, a Toronto-based digital product sampling platform, which raised $3 million in February. Managing Director Michelle Scarborough said WIT Fund has reviewed more than 1,000 women-led companies, suggesting that the "number of women choosing entrepreneurship in technology and innovation is growing in Canada."
4 min read · 24 April 2019
Ontario Teachers’ Pension Plan has launched a new platform focused on late-stage venture capital and growth equity investments in technology companies. Teachers’ Innovation Platform, which will target global opportunities to disrupt incumbents and create new sectors, will be led by Senior Managing Director Olivia Steedman. Steedman, who joined the $191 billion Canadian pension fund in 2002, was previously managing director of the infrastructure and natural resources group.
2 min read · 24 April 2019
Hardy Capital has acquired LD Vision Group Inc, a Richmond, British Columbia-based direct retailer of eyewear products. Terms weren't disclosed. Founded in 2002 and led by CEO Arshil Abdulla, LD Vision operates a family of Canadian and U.S. brands, including ContactsExpress.ca, LensDiscounters.com and OptiContacts.com. It has delivered 2.7 million orders to more than 1.1 million customers. Hardy Capital is the investment firm of Canadian entrepreneur Roger Hardy. Hardy co-founded and led online eyewear retailer Coastal Contacts, acquired in 2014 by Essilor. The investor said it expects to announce broader expansion into the eyecare industry in the months ahead.
3 min read · 24 April 2019
Vancouver-based medical diagnostics company LightIntegra Technology has raised about $7.1 million (US$5.3 million) in a Series A financing. The round was led by Genome BC and Boardwalk Ventures, with participation from Tower Beach Capital, Coleco Investments and Quimby Investments (VCC). Launched from Canadian Blood Services' R&D labs in 2009 by CTO Elisabeth Maurer, LightIntegra is the creator of ThromboLUX, a five-minute optical test that assesses platelet activation status, aiding the selection of blood products. Led by President and CEO William Dubiel, LightIntegra will use the funds raised to bring ThromboLUX to the U.S. market.
3 min read · 24 April 2019
Laval, Québec-based biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has completed its refinancing transactions, including a $75 million offering led by Consonance Capital Management and Thomvest Asset Management. The deals also included the conversion into equity of most of the debt held by an affiliate of Thomvest, an investment arm of Canadian billionaire Peter Thomson. Prometic previously said the conversion would grow Thomvest's stake to about 81 percent. Stefan Clulow, Thomvest's managing director and CIO, was appointed chair. Additionally, Kenneth Galbraith, a longtime Canadian venture capital professional, was appointed CEO.
5 min read · 23 April 2019
