Gateway Casinos & Entertainment Ltd has acquired Chances Signal Point, a Williams Lake, British Columbia-based gaming company. No financial terms were disclosed. Gateway, a Vancouver-based diversified gaming and entertainment business, said the acquisition increases the number of properties it operates in British Columbia, Alberta and Ontario to 27. Gateway, owned since 2010 by Canadian private equity firm Catalyst Capital Group, filed in November for an initial public offering on the New York Stock Exchange.
3 min read · 04 March 2019
Wave has acquired Every, a Toronto-based financial technology company that provides accounts and debit cards to small businesses. No financial terms were disclosed. Every was founded in 2017 by CEO Jeremy Black, CTO Matt Collum and Head of Design Bryan Kerr. Wave, a Toronto-based provider of financial management software for small businesses, freelancers and consultants, said the deal advances plans to integrate more products and services into its platform. Wave has raised more than $100 million to date, including a $32 million round closed in 2017. Its backers include BDC Capital, CRV, Exhibition Capital, HarbourVest, OMERS Ventures, Portag3 Ventures and Social Capital.
2 min read · 04 March 2019
ClaroNav, a Toronto-based medical device company focused on surgical navigation for dentistry, has secured undisclosed quasi-equity financing from BDC Capital. BDC invested through its growth and transition capital group. The funds raised will be used to expand global marketing, training, sales and support activities for ClaroNav's flagship product Navident, a freehand guided system for dental implantation. ClaroNav was spun out as an independent business in 2015, when Lexmark Inc acquired Claron Technologies, which co-CEOs Doron Dekel and Claudio Gatti founded in 2001.
3 min read · 04 March 2019
Cooper Equipment Rentals Ltd has acquired Prime Rentals Ltd, a Lethbridge, Alberta-based provider of equipment rental solutions. Terms weren't disclosed. The sellers were Prime owners Kim and Trina Tymko, who will support the company's transition. Cooper, a Mississauga, Ontario-based provider of compact, aerial and heavy construction and industrial equipment, said the deal expands its operations into Southern Alberta and moves it closer to establishing a national network of branches. Cooper, which currently has 40 rental locations, was acquired in 2013 by Canadian private equity firm SeaFort Capital.
2 min read · 04 March 2019
Canadian specialty finance firm Crown Capital Partners has up-sized Crown Capital Power LP with $43 million in commitments, bringing total capital to $58 million. The resources were provided by existing institutional investors as well as Crown, which grew its overall commitment to $25 million. Launched last year, the fund invests in integrated energy platforms (IEP) that supply electric and thermal energy to mid- to large-scale consumers, such as industrial and commercial businesses, recreational facilities and condominiums. Crown said the new capital will support additional projects identified by the fund’s expanded network of operator partners in and outside of the Ontario market.
3 min read · 04 March 2019
GoJava, a Toronto-based sustainable office services provider, has raised more than $1 million in a second seed-stage financing. The round was led by Crux Capital Corp, which also led last year's $500,000 financing, and joined by Active Impact Investments and other investors. GoJava delivers coffee, other beverages and snacks to workplaces while removing and recycling materials like coffee pods, paper cups and organic waste. It reports doubling business in the past eight months to over 500 customers. Led by Founder and CEO Eugene Ace, GoJava will use the funds raised to further scale the business in Toronto and Ottawa and prepare for new Canadian markets in 2020.
2 min read · 04 March 2019
Cambridge, Ontario-based managed security services platform eSentire Inc has raised about $62 million (US$47 million) in follow-on financing. U.S. private equity firm Warburg Pincus, the company's majority investor since 2017, led the deal. It was joined by minority investors Georgian Partners and Edison Partners. The funds raised will allow eSentire to further develop its managed detection and response technology through the application of artificial intelligence methodology for threat hunting and advanced automation. The company said the innovation will enable its security experts to "operate at machine scale." ESentire is led by CEO Kerry Bailey and President and COO J. Paul Haynes.
4 min read · 04 March 2019
Corelle Brands LLC, a Rosemont, Illinois-based housewares company, has agreed to merge with Instant Brands Inc, an Ottawa-based designer and maker of small kitchen appliances, including multicooker Instant Pot. Terms weren't released for the deal, which is expected to close in Q2 2019. The merger will create a global housewares business with a comprehensive suite of culinary products and accessories. It will be led by Corelle CEO Ken Wilkes, with Robert Wang, CEO of Instant Brands, serving as chief innovation officer. Instant Brands, founded in 2009, will retain its Canadian headquarters. Corelle was acquired in 2017 by U.S. private equity firm Cornell Capital.
5 min read · 04 March 2019
Emovi, a Montréal-based technology company offering medical solutions for joints assessments, has secured $15 million in a Series C financing. The round, which when combined with other capital brings total funding to $20 million, was led by TVM Capital Life Science. StandUp Ventures and Desjardins Capital also invested. The funds raised will support the North American and European clinical adoption for Emovi's core product, KneeKG, a tool that evaluates knee functional deficiencies linked to a patient's symptoms and pathology progression. President and CEO Michelle Laflamme said Emovi aims to become a "major player in the global orthopaedic and sports medicine field."
4 min read · 04 March 2019
U.S. technology debt financing firm Silicon Valley Bank (SVB) has been granted a licence to operate in Canada from the Office of the Superintendent of Financial Institutions (OFSI). SVB, a Santa Clara, California-based affiliate of SVB Financial Group (Nasdaq: SIVB), said it will now begin lending to technology and life sciences companies and their investors across Canada from a new base in Toronto. The firm also provides cross-border banking services to Canadian companies that have or seek a U.S. presence. Last year, SVB hired Barbara Dirks to head its Canadian expansion and team. Dirks joined from Royal Bank of Canada.
4 min read · 04 March 2019
