Montréal-based restaurant franchising business Foodtastic Inc has secured a $47 million investment from Restaurant Royalty Partners (RRP). RRP is a joint venture of U.S. private investment firms Oaktree Capital Management and JHR Capital. Founded in 2011 by CEO Peter Mammas, CDO Lawrence Mammas and COO and CMO Jacques Gaspo, Foodtastic is a franchisor of several restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels and Bacaro. The company said the partnership with Oaktree and JHR will accelerate its acquisition strategy and support organic growth, which includes a plan for opening 18 new restaurants in 2019.
2 min read · 20 November 2018
Trufan, a Vancouver-based fan engagement software provider, has raised $500,000 in a pre-seed financing. The round was backed by angel investors, including Manny Padda, managing partner of New Avenue Capital, Andrew D'Souza and Michele Romanow, co-founders of Clearbanc, Jason Robins, CEO of DraftKings and Eagle Rock Wealth Management. Trufan was founded this year by CEO Swish Goswami and COO Aanikh Kler to help influencers, brands and agencies discover, engage and reward their top fans. It will use the funds raised to launch its web platform and expand across Canada and the United States.
4 min read · 19 November 2018
Canada Pension Plan Investment Board (CPPIB) and British Columbia Investment Management Corp (BCI) have agreed to partner with GLP in a new investment vehicle focused on modern logistics facilities in Europe. GLP Continental Europe Development Partners I, which is expected to reach €2 billion (US$2.3 billion) in managed assets, will receive US$1.1 billion of equity from the partners. CPPIB will commit US$510 million. BCI is participating through its real estate investment arm QuadReal Property Group. Last year, GLP, a Singapore-based logistics solutions provider, acquired Europe's Gazeley from Brookfield Asset Management for US$2.8 billion.
5 min read · 19 November 2018
Investment Management Corp of Ontario (IMCO) has appointed Nicole Musicco as senior managing director, private markets. Based in Toronto, Musicco will be responsible for advancing IMCO's private markets' strategy, establishing partnerships, and sourcing investment opportunities. She joins IMCO from Ontario Teachers’ Pension Plan (OTPP), where she most recently served as a senior managing director and head of public equities. Before then, Musicco was a managing director in OTPP's private equity group, a role that included her heading Asia-Pacific operations. Launched in 2017, IMCO oversees $61.6 billion in assets on behalf of Ontario public-sector institutional investors.
2 min read · 19 November 2018
The Luminaires Group (TLG) has acquired Luminaire Led Inc, an Edison, New Jersey-based manufacturer of durable and vandal resistant LED lighting solutions. No financial terms were disclosed. TLG, a Montréal-based developer, maker and distributor of specification-grade and architectural lighting fixtures, said Luminaire Led's product offering will complement its portfolio of niche brands. Established in 1987, TLG was recapitalized two years ago by U.S. mid-market private equity firm Sentinel Capital Partners.
3 min read · 19 November 2018
Ampersand Capital Partners has acquired Pacific Biomarkers, a Seattle, Washington-based provider of biomarker development and central laboratory testing services. No financial terms were disclosed for the deal, which will see Pacific Biomarkers merge with Neomed-Labs, a Laval, Québec-based provider of clinical immunology laboratory services. Earlier this year, Ampersand, a U.S. private equity firm, invested in the management buyout of Neomed-Labs. Neomed-Labs President and CEO Benoit Bouche, who will head the combined entity, said the merger of the two bioanalytical contract research organizations creates an expanded business with a broad set of capabilities.
4 min read · 19 November 2018
Precision OS Technology, a Vancouver-based provider of virtual reality (VR) orthopaedic software, has raised $2.3 million in a Series A financing. The round was led by AO Invest, a Swiss medical technology venture capital firm, and joined by other investors. Led by CEO Danny Goel, who co-founded the company last year, Precision OS' software allows surgeons to perform simulated procedures in a digital operating room and offers feedback to help improve techniques. The round's proceeds will be used to develop distribution partnerships, create content for trainees, and craft VR education and preoperative planning tools.
4 min read · 19 November 2018
ISARA Corp, a Waterloo-based quantum-safe security software company, has raised about $13.2 million (US$10 million) in a Series A financing. The round was led by Shasta Ventures, a U.S. venture capital firm. It follows an earlier $15.1 million (US$11.5 million) financing by Mike Lazaridis' Quantum Valley Investments. Additional investors will be announced in the weeks ahead. Founded in 2015 by CEO Scott Totzke and CTO Mike Brown, ISARA develops agile quantum-safe technology solutions to help corporate and government organizations address emerging security threats posed by quantum computing. It plans to use the funds raised for global growth.
4 min read · 19 November 2018
Canadian mid-market private equity firm CAI Capital Partners has agreed to sell its majority interest in GeoStabilization International LLC (GSI), a Grand Junction, Colorado-based provider of geotechnical maintenance services. No financial terms were released for the deal, which is expected to close this year. The buyer is Kohlberg Kravis Roberts & Co (KKR). Founded in 2002, GSI specializes in landslide repair and rockfall mitigation services in North America, developing and implementing solutions that protect from and remediate geohazards in order to restore the safe operability of impacted infrastructure. CAI acquired its stake in 2012. Led by President and CEO Colby Barrett, GSI also has an office in Vancouver.
4 min read · 19 November 2018
Canadian mid-market private equity firm CAI Capital Partners has acquired Ansan Traffic Group Ltd, a Richmond, British Columbia-based provider of traffic management and control services. Terms weren't disclosed. CAI partnered in the deal with BDC Capital, Roynat Equity Partners and Frind Group of Co. Founded in 1978, Ansan provides traffic control personnel, lane closure services, traffic permits and management plans, road maintenance and landscaping-vegetation management services. CAI Managing Partner Tracey McVicar said her firm will invest in Ansan to help it become the "clear leader in Canada" and consider acquisitions to expand service lines and geographic presence.
4 min read · 16 November 2018
