Pure Alumina Ltd has entered into negotiations to acquire Polar Sapphire Ltd, a Toronto-based maker of high-purity alumina (HPA). The parties are working to agree on the formal terms of a potential deal on or before January 31, 2019. Founded in 2013 by CEO Scott Nichol, Polar's low-cost HPA product is used in LED lighting, lithium batteries for electric vehicles, and other applications. The company's backers include ArcTern Ventures, Crux Capital Corp, MaRS Investment Accelerator Fund and Sustainable Development Technology Canada. Based in Melbourne, Australia, Pure Alumina is an HPA supplier.
3 min read · 10 December 2018
Brookfield Asset Management has completed its acquisition of Forest City Realty Trust Inc, a Cleveland, Ohio-based owner, developer and manager of commercial, residential and mixed-use real estate in markets across the United States. The deal, announced in July, reflected a purchase price of US$11.4 billion. As a result, Forest City’s common stock was delisted from the New York Stock Exchange. Its portfolio is now managed by Brookfield Properties. Last week, Reuters reported Brookfield would become the largest single commercial real estate owner in New York City following the close of the Forest City acquisition.
2 min read · 10 December 2018
Braslyn Ltd has submitted a non-binding proposal to acquire the outstanding shares of Toronto-based specialty lender Callidus Capital Corp (TSX: CBL) not already held by it and Catalyst Capital Group. Braslyn proposes to buy the shares for $2 per unit. A Globe and Mail report said this values Callidus at about $114 million, excluding debt. Braslyn is an affiliate of Bahamian private investment firm Tavistock Group. It said Callidus' board has not been successful in privatizing the company and that operations and the stock price have deteriorated. Catalyst said in a statement it does not intend to tender shares to the offer. The Canadian private equity firm owns a 72 percent interest in Callidus.
2 min read · 07 December 2018
Family office Serruya Private Equity partnered with Lion Capital in acquiring the owner of Great American Cookies, Round Table Pizza and other retail food brands. Last month, Lion and SPE acquired Global Franchise Group from Levine Leichtman Capital Partners. Based in Atlanta, GFG owns several major brands in the U.S. quick-service restaurant industry. That puts it right in the wheelhouse of SPE, which invests on behalf of a Canadian family that made its name and fortune by building and buying food ventures. Brothers Michael and Aaron Serruya, both SPE managing directors, began their careers in the 1980s as the founders of frozen yogurt retailer Yogen Früz.
3 min read · 07 December 2018
Contentful, a Berlin, Germany-based based provider of content infrastructure for digital teams, has raised US$33.5 million in a Series D financing. The round was led by Sapphire Ventures and joined by new and existing investors, including OMERS Ventures. Founded in 2013, Contentful provides content infrastructure for digital products and experiences, making content accessible via APIs and editable in a web app. It will use the funds raised for expanding strategic partnerships, enhancing the platform, and improving the practitioner experience.
3 min read · 06 December 2018
Caisse de dépôt et placement du Québec (CDPQ) has provided a loan of up to $150 million to SSQ Insurance, a Québec City-based provider of insurance and financial services. The deal will help SSQ optimize its capital structure and execute its strategic plan, which includes a focus on innovation and development in the Canadian market. Overseeing assets of $12 billion, SSQ offers group, individual life, health and general insurance products as well as a range of investment products. CDPQ has invested in the company since the early 2000s. SSQ is also backed by Fonds de solidarité FTQ.
3 min read · 06 December 2018
Ryan LLC has acquired Economics Partners LLC, a Denver, Colorado-based provider of transfer pricing advisory, controversy and business valuation services. No financial terms were disclosed. Ryan, a Dallas-based tax services and software provider, said the deal enhances its international tax practice capabilities. The acquisition is the first announced by Ryan since Canadian private equity firm Onex Corp acquired a 42 percent interest in the company in October. Onex paid US$317 million for the stake.
3 min read · 06 December 2018
BIOS, a Cambridge, U.K.-based neural engineering startup, has raised a US$4.5 million seed-stage financing backed by Canadian early-stage venture capital firm Real Ventures. Real, AME Cloud Ventures and Ariel Poler, founder of the human augmentation syndicate on AngelList, led the round, according to TechCrunch. BIOS will also be opening an R&D office in Montréal, Montréal International and Investissement Québec said. Founded in 2015, BIOS is developing technology to enable artificial intelligence-based healthcare treatments on human organs and nerve systems.
6 min read · 06 December 2018
Canaccord Genuity Group Inc has made an undisclosed investment in Family Office Networks (FON), a West Palm Beach, Florida-based hub for family offices. Founded in 2013, FON helps family offices share information and intelligence, including about investment opportunities in such areas as real estate, venture capital, private equity and hedge funds. The deal will help FON to enhance its service platform and provide Canaccord Genuity with increased access to the global family office industry. Based in Toronto, Canaccord Genuity is an investment banking and financial services firm.
3 min read · 05 December 2018
3 min read · 05 December 2018
