Waterton Global Resource Management has published a presentation detailing a new path for Hudbay Minerals Inc (TSX, NYSE: HBM) to help it realize its potential. Waterton, which holds a 12 percent stake in the Toronto-based mining company, also renewed its call to fellow shareholders to elect an independent board and support a change in top management. The Canadian mining private equity firm nominated Peter Kukielski as CEO and Richard Nesbitt as chairman. Waterton said the proposed changes in Hudbay's strategy and leadership could result in an 140 percent increase in share price.
4 min read · 20 February 2019
CIBC Innovation Banking has provided undisclosed debt financing to SiteDocs Safety Corp, an Abbotsford, British Columbia-based safety management software provider. The CIBC group said the funding will be used in conjunction with a recent equity financing to support the company's growth across North America and beyond. Founded in 2012, SiteDocs provides digital solutions to construction companies and other businesses to help them manage their workplace safety programs more efficiently. It is led by CEO Kent Bergstrom. Last year, PE Hub Canada interviewed Mark McQueen, the CIBC group’s president and executive managing director.
3 min read · 20 February 2019
National Technical Systems Inc (NTS) has acquired Sci-Lab Materials Testing Inc, a Kitchener, Ontario-based provider of materials testing, product validation and environmental stress and durability services. Terms weren't released. Founded in 1990 by President Richard Isaacs, Sci-Lab serves the automotive, military, aerospace and industrial and consumer electronics sectors. NTS, an Anaheim, California-based provider of testing, inspection and certification solutions, said the deal provides it with an Ontario presence, additional capabilities and key customer relationships. NTS was acquired in 2013 by U.S. private equity firm Aurora Capital Partners.
3 min read · 20 February 2019
Parex has acquired CTM Coatings Inc, a Montréal-based specialist in flooring compound systems. No financial terms were disclosed. CTM Managing Director Michael delle Donne and his team will join Parex. Parex, a Paris-based provider of specialty dry-mix solutions to the construction industry, said the deal expands its activity in North America into the flooring technical solutions segment. It also facilitates the company's entry into Canada. Parex was acquired in 2014 by CVC Capital Partners, a U.K. private equity firm.
2 min read · 20 February 2019
Momentum Technologies, a Québec City-based information technology consulting services provider specializing in database technologies, has raised $2 million in mezzanine financing from BDC Capital. BDC invested through its growth and transition capital group. The funds raised will support the company's global growth strategy and help prepare it for a management succession facilitated through stock buybacks. A portion of the proceeds are currently being used to develop a new version of Manitou, a professional services automation solution manufactured by Momentum. Established in 2003, Momentum is led by President Michel Ganache.
3 min read · 20 February 2019
Vancouver-based women’s fashion brand Aritzia Inc (TSX: ATZ) said U.S. private equity firm Berkshire Partners will sell its remaining stake in the company as a result of a secondary offering and share buyback. Berkshire and other shareholders agreed to sell subordinate voting shares for $16.90 per unit, which is expected to generate about $330 million in proceeds. Aritzia also agreed to repurchase shares from Berkshire at the same price. Proceeds going to the investor are expected to total about $107 million. Berkshire acquired Aritzia in 2005. The company went public in Canada in 2016, raising $460 million.
7 min read · 20 February 2019
Tilray Inc (Nasdaq: TLRY) has agreed to acquire FHF Holdings Ltd, a Winnipeg-based hemp food manufacturer that operates as Manitoba Harvest. Tilray agreed to pay up to $419 million in cash and stock, pending the achievement of certain milestones after the deal's close. The main seller is Compass Group, a U.S. private equity firm. Compass acquired Manitoba Harvest in 2015 for $132 million. Tilray, a Nanaimo, British Columbia-based cannabis business, said the deal will expand its product portfolio into natural foods and tap expertise in working with cannabinoids. Last year, Tilray raised about US$153 million in an initial public offering. It continues to be majority owned by U.S. cannabis private equity firm Privateer Holdings.
5 min read · 20 February 2019
Vancouver-based connected car platform Mojio has wrapped up its Series B financing at about $53 million (US$40 million). The close included investments from Assurant, a U.S. provider of vehicle protection services and warranties, Bosch, a German supplier to the automotive industry, and T-Mobile, a U.S. wireless network operator. The Series B was first announced in 2017 at $30 million and led by Kensington Capital Partners. Founded in 2012, Mojio's cloud-based software platform facilitates the deployment of secure connected car apps and services. Led by CEO Kenny Hawk, the company will use the funds raised for talent and technology to help accelerate the adoption of its solution and expand internet-of-things offerings.
3 min read · 20 February 2019
Billion Dollar Fund for Women, a global initiative that aims to increase investment in women-founded companies, has arrived in Canada to recruit local venture firms. The launch was announced today by Lally Rementilla, the fund’s Canada lead and president of Quantius, a Toronto intellectual-property lender and one of the fund’s early supporters. Rementilla told PE Hub Canada that Billion Dollar Fund is looking to spread awareness in Canada about the gender financing gap. It also offers a plan of action involving pledges by VC firms to invest a portion of their capital in tech startups created by female entrepreneurs.
2 min read · 20 February 2019
2 min read · 20 February 2019
