ECi Software Solutions Inc has acquired Print Audit, a Calgary-based provider of office document, device and print management solutions. No financial terms were disclosed. Launched in 1999 by CEO John MacInnes, Print Audit serves both dealers and users. ECi, a Forth Worth, Texas-based provider of business management software and services, said the deal adds print rule and document management capabilities to its offerings for the office equipment industry. ECi was acquired last year by U.K. private equity firm Apax Partners from Carlyle Group and Level Equity.
3 min read · 05 December 2018
U.S. private equity firm Wynnchurch Capital has acquired Buchanan Rubber Ltd, a Toronto-based distributor of industrial hoses, couplings and sheet rubber with about 8,000 SKUs. Terms weren't disclosed. Founded in 1986, Buchanan distributes products to a range of end-markets, including petrochemical-energy, construction, mining, water handling-agriculture, food and beverage, and general industrial. Wynnchurch said Buchanan will be part of a North American distribution platform that includes Anderson Metals LLC and Midland Metal Mfg, both of Kansas City, Missouri. The acquisition gives the platform access to the Canadian market and new product offerings.
3 min read · 05 December 2018
OMERS Private Equity has agreed to sell its majority interest in Caliber Collision Centers, a Lewisville, Texas-based auto collision repair operator in the United States. Terms weren't released for the deal, which is expected to close early in 2019. The buyer is U.S. private equity firm Hellman & Friedman (H&F), which will merge Caliber with Abra Auto Body Repair of America, a portfolio company since 2014. The combined collision repair provider will have more than 1,000 centres across 37 states. OMERS acquired Caliber in 2013 from ONCAP. Leonard Green & Partners (LGP) acquired a minority stake last year. Both OMERS and LGP will be minority shareholders in the combined business.
3 min read · 05 December 2018
TPC Wire & Cable Corp has acquired Milrail Inc, a Pointe-Claire, Québec-based specialty supplier of wire, cable, interconnect devices and grounding systems. No financial terms were disclosed. Established in 1990, Milrail serves the marine, military, rail and transit industries. TPC, a Macedonia, Ohio-based supplier of wire, cable, connectors, assemblies and accessories used in harsh industrial environments, said the acquisition will strengthen its wire and cable offering. TPC was acquired in 2015 by U.S. private equity firm Audax Group from Pfingsten Partners.
3 min read · 04 December 2018
Fengate Asset Management and Longroad Energy Partners LLC have unveiled a co-development and financing partnership to build the 72.6-megawatt Weaver wind project in Hancock County, Maine. No financial terms were released. Fengate and Longroad, a U.S. renewable energy company, agreed to co-fund the development and construction of Weaver, a late-stage project expected to be commercially operational in Maine by 2020. Fengate is a Canadian investor in infrastructure, private equity and real estate. The Weaver deal marks its fourth clean energy co-development partnership investment in North America.
3 min read · 04 December 2018
Toronto-based lifestyle therapy brand Myodetox has secured $2 million in financing from an undisclosed group of angel investors. Founded three years ago by CEO Scott Marcaccio and Chief Creative Officer Vinh Pham, Myodetox has developed a system of manual therapy and movement programming. Built around a personalized treatment framework, the system focuses on proactive and reactive body care, injury prevention, recovery and mobility. Myodetox, which also has an office in Vancouver, will use the round's proceeds to enter the U.S. market, beginning with a new clinic located in Los Angeles.
3 min read · 04 December 2018
AGT Food and Ingredients Inc (TSX: AGT), a Regina-based supplier of pulses, staple foods and food ingredients, has agreed to go private in a deal that values the company at about $432 million. A group of investors led by President and CEO Murad Al-Katib, and including Fairfax Financial Holdings and Point North Capital, will acquire all issued and outstanding common shares not already held by it for $18.00 per unit in cash. Fairfax, the holding company of Canadian billionaire Prem Watsa, agreed to provide financing. AGT's board of directors is recommending that shareholders vote in favour of the deal. It is expected to close in the first quarter of 2019.
7 min read · 04 December 2018
Alberta Enterprise Corp and BDC Capital have committed capital to the inaugural fund of Builders VC, a U.S. venture capital firm with an office in Calgary. The size of the commitments was not disclosed. Builders VC has reportedly targeted US$200 million for Fund I. Founded in 2016 by General Partners Jim Kim and Paul Lee, Builders VC invests in early-stage companies with technologies capable of disrupting healthcare, agriculture, industrial and real estate industries. The Calgary office is led by Partner Mark Blackwell. Builder VC's Canadian investments include Calgary-based artificial lift optimization solution Ambyint and Calgary-based capital project delivery platform Veerum.
4 min read · 04 December 2018
Nasdaq has acquired Quandl Inc, a Toronto-based provider of alternative and core financial data to investment professionals. No financial terms were disclosed. Founded in 2012 by CEO Tammer Kamel and CDO Abraham Thomas, Quandl provides a database of alternative, financial and public data that is currently tapped by more than 30,000 active monthly users. Nasdaq said the acquisition will maximize its opportunities as a technology and analytics provider to capital markets. Quandl raised more than $20 million from venture capital firms, most recently in a 2016 Series B financing. Its backers included August Capital, iGan Partners and Nexus Venture Partners.
4 min read · 04 December 2018
Toronto-based hotel booking service SnapTravel has closed its Series A financing at about $28 million (US$21.2 million). The round's US$13.2 million second tranche, which added to an initial US$8 million raised last year, was backed by Telstra Ventures, the investment arm of Australia's Telstra Corp Ltd, and NBA player Stephen Curry. Founded in 2016 by CEO Hussein Fazal and CTO Henry Shi, SnapTravel uses machine learning and natural language processing to help consumers book hotels through conversations with a travel assistant. To date, it has facilitated conversations with more than 2 million consumers in over 150 countries. The funds raised will be used by SnapTravel to enhance its technology.
4 min read · 04 December 2018
