Greenhouse, a Toronto-based healthy beverage company, has raised $9 million in financing from Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp. Founded in 2014 by Anthony Green, Emma Knight and Hana James, Greenhouse manufactures plant-based beverage products, including cold-pressed juices. The investment by Canopy Rivers is part of a strategic partnership to help launch a new line of cannabidiol-infused beverages. Canopy Rivers will also support Greenhouse's national growth strategy, which will include new retail partners, new stores in key urban markets, and expanded e-commerce capabilities.
3 min read · 14 January 2019
Ocean Group has acquired Techsol Marine Inc, a Québec City-based specialist in electrical and electronic marine engineering. No financial terms were released. Established in 1996, Techsol installs and ensures the commissioning of automated systems for controlling and monitoring machinery used on ships worldwide. Ocean, a Québec City-based maritime services provider, said the deal will support its Canadian and global growth. Last year, Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ acquired a minority stake in Ocean for $112 million.
2 min read · 14 January 2019
Linxis Group has acquired Unifiller Systems Inc, a Vancouver-based designer and maker of portioning and depositing equipment for small and mid-sized bakeries. No financial terms were disclosed. Founded in 1988, Unifiller is led by President and CEO Mark Soares. Linxis, a Nantes, France-based provider of specialized equipment solutions for the bakery, pharmaceutical and cosmetics industries, said the deal will further expand its global footprint and equipment portfolio. In 2017, European private equity firm IK Investment Partners acquired a majority stake in Linxis from Equistone Partners Europe.
2 min read · 14 January 2019
WorkJam, a Montréal-based digital workplace solutions provider, has acquired Peerio Technologies, a Montréal-based employee communication software company. No financial terms were disclosed. WorkJam said the acquisition adds secure messaging and file sharing to its technology, enhancing team communication and workstream collaboration capabilities. Founded in 2014, WorkJam raised about $16 million two years ago in a first-time financing backed by Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT. Also founded in 2014, Peerio's investors have included InnoStart Capital and Real Ventures, according to Crunchbase.
3 min read · 13 January 2019
Cycle Capital Management, a Canadian clean technology venture capital firm, has hired Dan Pinault as a principal. Pinault previously served as director of mergers and acquisitions at Brookfield Asset Management-owned Enwave Energy Corp. Before then, he was a management consultant with A.T. Kearney and Navigant. Pinault also recently worked with the clean technology group at MaRS Discovery District, supporting early-stage companies. Based in Montréal, Cycle has assets under management of more than $350 million.
2 min read · 11 January 2019
NanoXplore Inc (TSX-V: GRA), a Montréal-based graphene company, has closed a $31 million bought deal private placement. Business Development Bank of Canada (BDC) contributed $10 million in convertible unsecured subordinated debentures to the deal. BDC invested through Ottawa's $700-million clean technology strategy, announced last year. Established in 1995, NanoXplore manufactures graphene powder for use in industrial markets, as well as standard and custom graphene enhanced plastic and composite products. It will use the funds raised for expanding its plant, adding new production lines, buying equipment and other priorities.
3 min read · 11 January 2019
PharmHouse Inc, a joint venture of Canopy Rivers and North American greenhouse produce companies, has secured a debt facility of up to $80 million. Bank of Montreal was the facility's agent and lead lender. The other lenders were Canadian Imperial Bank of Commerce and Concentra Bank. The proceeds will be used to finalize the purchase of a 1.3 million square-foot greenhouse facility in Leamington, Ontario and fund project equipment and construction costs. Canopy Rivers, the investment arm of Canadian cannabis producer Canopy Growth Corp, owns 49 percent of PharmHouse.
4 min read · 10 January 2019
BDC Capital has provided mezzanine financing of $6 million to Verdant Environmental Technologies Inc, a Montréal-based developer of smart thermostats for commercial and institutional buildings. BDC made the investment through its growth and transition capital group. Established in 2008, Verdant primarily serves the hospitality industry. CEO Alain Bélanger said the funds raised will help accelerate the company's expansion. Verdant is backed by Canadian mid-market private equity firm Fulcrum Capital Partners. Fulcrum acquired the business in 2016.
3 min read · 10 January 2019
CIBC Innovation Banking has provided $2 million in debt financing to Jane Software Inc, a North Vancouver, British Columbia-based clinic management software company. Jane offers a secure, cloud-based platform to a range of health practitioners, including physiotherapists, massage therapists, chiropractors, acupuncturists and counsellors, to perform online booking, charting, scheduling and invoicing. Founded in 2012 by Co-CEOs Alison Taylor and Trevor Johnston, Jane will use the funds raised to accelerate growth of its platform and team in Canada and globally. Last year, PE Hub Canada interviewed Mark McQueen, the CIBC group’s president and executive managing director.
3 min read · 10 January 2019
Hub International Ltd has acquired Forum Risques et Assurance Inc, a Montréal-based boutique insurance brokerage and risk management company. Terms weren't disclosed. Founded in 2013 by President François Jean and Executive Vice President Alain Giroux, Forum specializes in providing solutions to high-risk sectors, such as technology, manufacturing and construction. 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.
2 min read · 10 January 2019
