3 min read · 19 December 2018
3 min read · 19 December 2018
Aleafia Health Inc (TSX-V: ALEF) has agreed to acquire Emblem Corp (TSX-V: EMC), a Toronto-based cannabis company, in an all-share deal valued at about $173.2 million. Upon completion, the transaction will see Aleafia and Emblem shareholders own about 59 percent and 41 percent of Aleafia, respectively. Aleafia is a Concord, Ontario-based medical cannabis cultivator and clinic operator. Its combination with Emblem is expected to create a medical cannabis network with access to 40 clinics and education centres. Last month, Serruya Private Equity invested $10 million in Aleafia to support its entry into the adult-use space and launch retail operations.
9 min read · 19 December 2018
Espresso Capital last month provided $7 million in debt financing to ScribbleLive, a Toronto-based digital content marketing platform. Founded in 2008, ScribbleLive provides brands and enterprises with data insights and content solutions to help them improve the performance of sales and marketing initiatives. The funds raised will support the company's growth strategy. Led by CEO Efrem Ainsley, ScribbleLive has secured more than $65 million from investors, including Emerillon Capital, Georgian Partners, OpenText Enterprise Apps Fund, Rogers Ventures and Summerhill Venture Partners.
2 min read · 19 December 2018
Hub International Ltd has acquired the employee benefits practice of Rise People Inc, a Vancouver-based provider of human resources, payroll and benefits administration solutions. No financial terms were disclosed. Hub, a Chicago-based insurance brokerage, said the deal supports its Canadian employee benefits and pension consulting growth strategy. Last month, Canadian long-term private equity firm Altas Partners closed a minority investment in Hub, joining existing owner Hellman & Friedman.
2 min read · 19 December 2018
InstarAGF Asset Management has acquired jet fuel pipeline and terminal facilities serving U.S. airports from Buckeye Partners LP (NYSE: BPL). Terms weren't disclosed; however, Buckeye, a U.S. oil logistics company, said in a statement that it received cash proceeds of US$450 million. InstarAGF, a Canadian investor in mid-market infrastructure and real assets, said the pipeline and terminal facilities will continue to be operated and maintained by a Buckeye affiliate. President and CEO Gregory Smith said the deal adds "critical, high quality aviation infrastructure assets with utility-like characteristics" to InstarAGF's portfolio.
3 min read · 19 December 2018
Vantage Data Centers has agreed to acquire 4Degrees Colocation, a data centre operator with facilities in Montréal and Québec City. The deal, expected to close in the weeks ahead, reflects a purchase price of about $259 million (US$200 million). The seller is Montréal-based communications company Québecor Inc (TSX: QBR). Vantage, a Santa Clara, California-based wholesale data centre provider, said the transaction will expand its North American presence to five markets. Last year, Public Sector Pension Investment Board (PSP Investments) partnered with Digital Bridge Holdings LLC and TIAA Investments to acquire Vantage from Silver Lake Partners.
3 min read · 19 December 2018
Luxfer Holdings PLC (NYSE: LXFR) has agreed to acquire Neo Performance Materials Inc (TSX: NEO), a Toronto-based maker of rare-earth and rare-metal-based functional materials used in advanced technologies. Luxfer agreed to pay about $824 million (US$612 million) in cash and stock. U.S. distressed investor Oaktree Capital Management, Neo's largest shareholder, agreed to support the deal, which is expected to close in Q2 2019. U.K.-based Luxfer said the acquisition accelerates its strategy to become a leading global manufacturer of highly-engineered advanced materials. Neo emerged in 2016 from the bankruptcy of Molycorp Inc. Oaktree took the company public earlier this year, raising $220 million.
7 min read · 18 December 2018
AmorChem has created MyX Therapeutics Inc, a Montréal-based mucosal delivery platform technology company. Along with transferring to the startup the rights to the technology, developed at the University of Waterloo, AmorChem provided seed financing of $450,000. The funds raised will help MyX establish commercial partnerships, targeting ocular diseases in both animal and human health. MyX will be led by President and CEO Gregory White. AmorChem, a Canadian seed-stage life sciences investor, was backed last month by Ottawa's Venture Capital Catalyst Initiative (VCCI).
3 min read · 18 December 2018
Laval, Québec-based clinical-stage biopharmaceutical company Bellus Health Inc (TSX: BLU) has secured $35 million in an equity offering. The offering was led by U.S. healthcare investment firm OrbiMed. New Leaf Venture Partners, First Manhattan Co, Samsara BioCapital, Fonds de solidarité FTQ, AppleTree Partners and Amzak Health also participated. OrbiMed Partner Chau Khuong has joined the board. The proceeds will be used to advance the company's lead drug candidate, BLU-5937, for chronic cough. A Phase 2 study will be initiated in mid-2019. Bellus is led by President and CEO Roberto Bellini.
5 min read · 18 December 2018
