ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, has completed its sale of Tecta America Corp, a Rosemont, Illinois-based provider of commercial roofing services in the United States. No financial terms were disclosed for the deal, which was announced last month. The buyer was Altas Partners, a Canadian long-term private equity firm. ONCAP acquired a majority interest in Tecta two years ago from U.S. private equity firm Oaktree Capital Management. The deal, valued at US$280 million, saw ONCAP invest US$124 million.
2 min read · 21 November 2018
San Antonio, Texas-based audio company iHeartMedia has agreed to acquire Jelli Inc, a San Mateo, California-based cloud advertising platform for the global radio market. No financial terms were released. IHeartMedia said the deal will allow it to leverage Jelli’s assets to create for brands a digital-compatible buying platform for broadcast radio. Founded in 2008, Jelli raised more than US$40 million in financing, according to Crunchbase. Its investors include Canadian mobile venture capital firm Relay Ventures.
5 min read · 21 November 2018
Alaris Royalty Corp has invested US$46 million in GlobalWide Media (GWM Holdings Inc), a Los Angeles-based provider of data-driven digital marketing solutions. The deal's proceeds facilitated a management buyout of an existing sponsor. GWM has been backed since 2012 by Endeavour Capital, a U.S. mid-market private equity firm. The investment entitles Alaris, a Canadian alternative equity firm, to an annualized cash distribution of US$5.58 million. Established in 2006, GWM manages performance and branding campaigns for global advertisers across all forms of digital media.
4 min read · 21 November 2018
Environmental 360 Solutions Inc (E3602), a Toronto-based environmental waste management company founded by President and CEO Danny Ardellini, has officially launched. The launch was backed by Canadian private equity firm Almada, retired hockey player Paul Coffey and others. Terms weren't disclosed; however, the Globe and Mail reported the investors will commit up to $100 million. E360S, which plans to grow partly through acquisitions, also announced its purchase of Can Pak Environmental Inc, an Alix, Alberta-based provider of waste collection services to residential, commercial and industrial customers. Ardellini previously served as co-CEO of Toronto-based environmental services provider GFL Environmental Inc.
3 min read · 21 November 2018
Cova Software, a Denver, Colorado-based cannabis retail software platform, has raised US$8 million in an initial financing. The investor was Golden Opportunities Fund, a retail fund managed by Canadian private equity and venture capital firm Westcap Management. Cova provides point-of-sale solutions to cannabis retailers, including automated compliance, inventory management, reporting dashboards and a checkout app. It will use the funds raised for product development and to expand its North American footprint. Founded in 2016, Cova has its Canadian headquarters in Vancouver along with offices in Regina and Winnipeg.
3 min read · 21 November 2018
Backyard Axe Throwing League (BATL), a Toronto-based urban axe throwing company, has raised an undisclosed Series A financing. The round, which brings BATL's total funding to more than $10 million, was arranged by Canadian investment bank FirePower Capital. The investors were not disclosed. Founded in 2006 by CEO Matt Wilson, BATL operates 14 venues across North America for the sport of axe throwing. To date, it has hosted more than 1.25 million visitors in leagues and private events. The company plans to expand its retail footprint to more than 100 locations by 2023.
3 min read · 21 November 2018
OSG Billing Services has acquired Formost mediaOne, a Brampton, Ontario-based outsourced billing, document and services company. No financial terms were disclosed. Led by CEO John Gaudet, Formost mediaOne was established in 1981 and a subsequent merger. OSG, a Ridgefield Park, New Jersey-based provider of billing and payment solutions and customer communications management, said the buy marks its entry into the Canadian market. OSG was acquired in 2017 by U.S. private equity firm Aquiline Capital Partners.
2 min read · 21 November 2018
PayPal Holdings Inc (Nasdaq: PYPL) has wrapped up its acquisition of Hyperwallet, a Vancouver-based mass payments solutions provider, for about US$400 million. The deal was announced in June. PayPal said the buy will strengthen its payout capabilities and enhance its ability to provide an integrated suite of payment solutions to e-commerce platforms and marketplaces. Hyperwallet was founded in 2000 by Lisa Shields, who served as CEO until 2015. It has since been led by Brent Warrington. Hyperwallet was a portfolio company of U.S. private equity firm Primus Capital. Primus invested in the company's growth strategy in 2014.
3 min read · 20 November 2018
Communo, a Calgary-based community of marketing and digital service professionals and agencies, has acquired LocalSolo, a Vancouver-based online network for freelancers. Terms weren't disclosed. Communo said the deal grows its footprint and increases its member-based community. Founded in 2017 by CEO Ryan Gill and COO Chris Kneeland, Communo helps members to share work, talent, resources and knowledge through a digital platform and co-working spaces. Earlier this year, Communo was backed by Canadian seed-stage venture capital firm Panache Ventures. It said it is preparing for a Series A financing expected to close next month.
4 min read · 20 November 2018
Chalmers Group of Companies has acquired Primus Sterilizer Co LLC, an Omaha, Nebraska-based maker of steam sterilizers used in laboratories, hospitals and pharmaceutical companies. No financial terms were released for the deal, which closed earlier this month. In a separate release, Chalmers, a Mississauga, Ontario-based products supplier to the medical and transportation equipment industries, said Primus will be added to its affiliates Scientek and CSI Jewett. The transaction provided an exit to U.S. private equity firm Blue Sage Capital, which invested in Primus in 2006.
2 min read · 20 November 2018
