Fertin Pharma A/S has acquired Tab Labs Inc, a Langley, British Columbia-based contract manufacturer of sugar-free tablets and chewing gum. No financial terms were disclosed. Fertin, a Vejle, Denmark-based maker of medicated chewing gum and other nutraceutical products, said the acquisition will help give it a foothold in North America's dietary supplements market. It will also create opportunities in Canada for the company's edible cannabinoid products. Swedish private equity firm EQT acquired a majority stake in Fertin last year.
2 min read · 07 January 2019
Sagard Holdings, an affiliate of Canada’s Power Corp, has launched Sagard Healthcare Royalty Partners, a life sciences royalty investment platform. Focused on investing in pharmaceutical intellectual property, Toronto-based SHRP will be led by Partner David MacNaughtan, formerly a senior principal in the credit investments group of Canadian Pension Plan Investment Board. Before joining CPPIB in 2010, MacNaughtan was co-head of the Royalty Monetization Fund of DRI Capital, a Canadian healthcare private equity firm.
3 min read · 07 January 2019
Calgary-based oil and gas companies Blackbird Energy Inc (TSX-V: BBI) and Pipestone Oil Corp have completed their merger, creating Pipestone Energy Corp. The deal, announced in October, included $310 million in equity and debt financings. Pipestone Oil was an affiliate of Canadian Non-Operated Resources LP (CNOR), which is backed by U.S. energy private equity firm Riverstone Holdings and other investors. CNOR will own about 54.7 percent of Pipestone Energy shares, with former Blackbird shareholders holding the rest. Pipestone Energy, led by President and CEO Paul Wanklyn, is expected to begin trading this week on the TSX Venture Exchange under the symbol PIPE.
8 min read · 07 January 2019
The Canadian Venture Capital and Private Equity Association (CVCA) has appointed Kim Furlong as its new CEO. Furlong joins CVCA from Toronto-based biotechnology company Amgen Canada, where for more than a decade she served as director of federal government affairs. Before then, she was vice president, federal government relations, at the Retail Council of Canada. Furlong replaces Mike Woollatt, who served as CVCA CEO between 2014 and 2018. Last September, Woollatt left the organization to become director of strategic partnerships at OMERS Platform Investments. Founded in 1974, Toronto-based CVCA is the professional association for Canada's venture capital and private equity industry.
3 min read · 07 January 2019
Sagard Holdings, an affiliate of Canada’s Power Corp, has launched Sagard Healthcare Royalty Partners (SHRP), a life sciences royalty investment platform. Focused on investing in pharmaceutical intellectual property, Toronto-based SHRP will be led by Partner David MacNaughtan, formerly a senior principal in the credit investments group of Canadian Pension Plan Investment Board (CPPIB). Before joining CPPIB in 2010, MacNaughtan was co-head of the Royalty Monetization Fund of DRI Capital, a Canadian healthcare private equity firm. SHRP plans to raise a fund in the “several-hundred-million” range, MacNaughtan told the Globe and Mail.
3 min read · 07 January 2019
Verily Life Sciences, a life sciences research and engineering organization held by Alphabet Inc, the parent company of Google, has raised US$1 billion in financing. The round was led by U.S. technology private equity firm Silver Lake Partners. It was joined by other new investors, including Ontario Teachers’ Pension Plan. South San Francisco-based Verily develops tools and platforms that collect and organize health data to help improve healthcare delivery and clinical outcomes. The company will use the funds raised to support growth in key areas, including investments in strategic partnerships, global business development opportunities, and potential acquisitions.
3 min read · 04 January 2019
Activity in Canada’s initial public offering (IPO) market had a "respectable" finish in 2018 despite volatility and uncertainty, according to a survey by PwC Canada. In all, 54 new equity issues on Canadian exchanges raised $2.2 billion last year, PwC found. That is less than half of the $5.1 billion generated by 37 IPOs in 2017. Last year's largest IPO was the US$462 million Canada-U.S. listing of Ceridian HCM Holding Inc, a human-resources-software provider backed by Thomas H. Lee Partners and Cannae Investors. In second spot was the $242 million IPO of Marc Anthony Cosmetics Inc, a beauty specialist backed by TA Associates.
4 min read · 03 January 2019
National Seating & Mobility Inc (NSM) has acquired SelfCare Home Health Products Ltd, a Vancouver-based provider of multi-site mobility equipment and home accessibility services. Terms weren't disclosed. The sellers were General Manager Darryl Mackie and Finance and Marketing Director Kim Mackie, who have owned SelfCare since its founding in 1993. They will continue to hold leadership positions in the company. NSM, a Franklin, Tennessee-based provider of complex rehabilitation, mobility and accessibility solutions, said the acquisition is its first in Canada. U.S. private equity firm Court Square Capital Partners acquired NSM in 2016 from Wellspring Capital Management.
2 min read · 03 January 2019
Lex Capital Management has secured $127.5 million in committed capital in the first close of its fourth energy private equity fund. Lex Energy Partners LP IV, targeted at $200 million, was backed by a range of North American limited partners, according to a news release. They included individuals, foundations, family offices and institutional investors. Fund IV will maintain Regina-based Lex's strategy of providing seed, growth or acquisition capital to private early-stage oil and gas companies operating in Western Canada. Since its inception in 2009, the firm has raised more than $417 million across four energy funds and one diversified fund.
2 min read · 03 January 2019
Ostara Nutrient Recovery Technologies Inc, a Vancouver-based provider of nutrient management solutions, has raised a preferred equity financing of more than $15 million (US$11 million). The round was led by U.K.-based Wheatsheaf Group Ltd and U.S. energy venture capital firm VantagePoint Capital. They were joined by other returning investors. Founded in 2005, Ostara's technology recovers phosphorus and nitrogen from industrial, agricultural and municipal water treatment facilities and converts them into sustainable fertilizer. Led by President and CEO Dan Parmar, the company will use the funds raised to accelerate scaling of fertilizer production, support global growth, and hire new talent.
3 min read · 03 January 2019
