Canadian mid-market private equity firm Clairvest Group has invested in Right Time Heating and Air Conditioning Canada Inc, a St. Catharines, Ontario-based heating, ventilation and air-conditioning (HVAC) contractor. Terms weren't released. The deal will see Clairvest partner with Right Time's co-founders, who will continue to own 50 percent of the business. Right Time operates out of seven Ontario and Manitoba locations to provide maintenance programs, repairs and replacements to household HVAC units. Clairvest Managing Director Mitch Green said his firm will support the company's growth objectives, which include building out corporate infrastructure, expanding marketing and acquisitions.
3 min read · 28 November 2018
Caisse de dépôt et placement du Québec has invested $200 million in Plusgrade, a Montréal-based provider of ancillary revenue solutions to the global travel industry. The deal, which values Plusgrade at more than $600 million, saw the Caisse acquire a portion of the shares held by U.S. private equity firm TA Associates. TA Associates, which invested in the business in 2015, will continue to be a major shareholder. Founded in 2009 by CEO Ken Harris, Plusgrade's software platform provides upsell solutions, helping travel suppliers in more than 50 countries generate new revenue opportunities. The partnership with the Caisse will support the company's growth plan, which includes entering new markets and expanding the product suite.
4 min read · 28 November 2018
Canadian private equity firm Onex Corp has wrapped up its acquisition of KidsFoundation Holdings BV, a Dutch childcare services provider. Onex said it invested about US$172 million ($228 million) in the deal, which was announced in July. No financial terms were previously disclosed. The seller was U.S. private equity firm HIG Capital, which established KidsFoundation in 2014. Based in Almere, the Netherlands, KidsFoundation provides daycare and after-school care to more than 30,000 children.
2 min read · 28 November 2018
Corel Corp has agreed to acquire Parallels, a Bellevue, Washington-based provider of cross-platform virtualization and automation software, according to a report by TechCrunch. No financial terms were disclosed in the all-cash deal, the report said. Based in Ottawa, Corel is a graphics, productivity and digital media software provider. It is owned by U.S. private equity firm Vector Capital, which took the company private in 2003 and 2010. Founded in 1999, Parallels is backed by Bessemer Venture Partners, Insight Venture Partners, Intel Capital, Maxfield Capital and other investors.
1 min read · 27 November 2018
Canada Goose Holdings Inc (TSX, NYSE: GOOS), a Toronto-based luxury outdoor apparel business, said it intends to offer for sale 10 million subordinate voting shares. The secondary offering, which has not yet been priced, will see the shares sold by U.S. private equity firm Bain Capital and other investors. Bain acquired Canada Goose in 2013 and continued as the company's majority shareholder after last year's initial public offering. Bain will hold a 60.5 percent interest following the offering's completion, according to the preliminary prospectus.
3 min read · 27 November 2018
Feldan Therapeutics, a Québec City-based pre-clinical biotechnology company, has raised $1.3 million in financing from Asahi Kasei Corporate Venture Capital, the investment arm of Japanese conglomerate Asahi Kasei Corp. The investment increases Feldan's Series A financing to $13.8 million. In September, the company secured an initial $12.5 million led by South Korea's GC and joined by Stonebridge Ventures, Anges Québec and Anges Québec Capital. Founded in 2007, Feldan is developing a pipeline of therapeutic applications based on the Feldan Shuttle, its peptide intracellular delivery technology.
2 min read · 27 November 2018
Tacora Resources Inc has secured US$212 million ($280 million) in private equity and senior secured debt financing to restart the Scully Mine, an iron ore concentrate maker in Wabush, Newfoundland and Labrador. The equity investors included Cargill Inc. Tacora's main backer is U.S. private equity firm Proterra Investment Partners. Tacora, which acquired Scully's assets last year, previously raised US$64 million in mining equipment debt financing. The Grand Rapids, Minnesota-based company said it will now begin hiring, commercial contracts and capital projects. Tacora earlier in 2018 launched an initial public offering in Canada intended to raise up to $144 million.
5 min read · 27 November 2018
Export Development Canada (EDC) has provided $1 million in financing to EnergyGeeks, a Toronto-based online solar energy platform. Founded in 2016, EnergyGeeks has developed a solar recommendation system that allows consumers to input their needs and get customized recommendations on solar system components for their homes or businesses. The company, led by CEO Mackie Hilborn, will use the funds raised from EDC to expand across the United States and meet demand. In September, EnergyGeeks was accepted into MaRS CleanTech Accelerator.
3 min read · 27 November 2018
KEV Group Inc has acquired Technology Resource Associates Inc (TRA), a Wilmington, North Carolina-based school accounting software provider. No financial terms were disclosed. Toronto-based KEV, which operates in the same vertical, said the deal creates a K-12 school cash management and online payments company that serves 16,500 schools in North America and processes more than $3 billion in transactions annually. KEV was founded in 1996 by Evelyn Eagle and Kim Vivian-Downs. In September, the company secured a minority investment from Serent Capital, a U.S. technology and services private equity firm.
3 min read · 26 November 2018
Vancouver-based financial technology company Progressa has secured a facility to support its point-of-sale (POS) finance business, Progressa Connect. Alternative Credit Fund, a Canadian specialty credit firm, will facilitate up to a $13 million forward-flow whole loan purchase program to back the unit, which helps POS platforms and originators offer credit solutions to non-prime consumers. The deal follows Progressa's close in August of an $84 million debt and equity financing. The company, which is backed by Conconi Growth Partners, Cypress Hills Partners and others, is preparing for an initial public offering next year.
2 min read · 26 November 2018
