Gateway Casinos & Entertainment Ltd, a Vancouver-based gaming and entertainment company, has filed a draft registration with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common shares. The IPO, which has not yet been priced, is expected to commence following the SEC's review and subject to market and other conditions. Founded in 1992, Gateway operates 25 gaming properties with more than 280 tables, over 9,600 slots, 68 restaurants and bars and 272 hotel rooms. It recently expanded operations in Ontario. Gateway was acquired in 2010 by Canadian private equity firm Catalyst Capital Group, which restructured the business.
2 min read · 25 September 2018
Trait Biosciences Inc, a Vancouver-based cannabis biotechnology company, has closed a seed-stage financing of $12.3 million. The round was led by incoming Trait senior managers, Joseph del Moral, Hannan Fleiman and Ronan Levy, and joined by Green Acre Capital, CannaIncome Fund and industry executives. Trait is developing enhanced cannabinoids, including water-soluble cannabinoids. It is also is developing technologies to increase plant yields and safety. The funds raised will be used for research and patent creation, as well as the construction of a second laboratory in Toronto.
4 min read · 25 September 2018
MindBeacon Group, the Toronto-based developer and operator of digital therapy platform Beacon, has closed a Series A financing, bringing its total funding to more than $20 million. The investors included Telus Ventures, Manulife, Elkland Capital and Strauss Interests. Beacon was introduced in 2016 in CBT Associates clinics. Last year, it was launched as a provider of digitally-delivered therapy for people with mental health concerns, such as depression, anxiety, panic and post-traumatic stress disorder. MindBeacon Chair and CEO Sam Duboc said the funds raised will help his company enhance its offerings and increase its reach in Canada.
3 min read · 25 September 2018
Sustainable Power Group (sPower), a Salt Lake City, Utah-based owner and operator of U.S. solar and wind assets, has acquired the 55 megawatt direct current Idaho Solar 1 project. No financial terms were disclosed. Located in Kuna County, Idaho, and placed in service in 2016, the system will continue to operate and sell all output to Idaho Power Co. The acquisition is sPower's first since it was bought last year by AES Corp and Alberta Investment Management Corp (AIMCo) for US$853 million.
2 min read · 25 September 2018
Koios Beverage Corp, a Vancouver-based developer of beverage products, including cannabis-infused beverages, has secured a draw-down equity facility of up to $28 million. The investor is Alumina Partners, a U.S. private equity firm. Under the deal’s terms, Koios will be able to draw down capital as needed to support its North American growth strategy. Alumina Managing Member Adi Nahmani said cannabinoid beverages reflect the "most rapidly expanding and evolving markets" in the regulated cannabis space.
4 min read · 25 September 2018
Smart Employee Benefits Inc (TSX-V: SEB) has agreed to sell Paradigm Consulting Group Inc to Golden Opportunities Fund, a retail fund managed by Canadian private equity and venture capital firm Westcap Management. The deal, scheduled to close on November 30, includes a cash payment, cancellation of a $3 million preferred investment made by Golden Opportunities earlier in 2018, and a working capital adjustment. Mississauga, Ontario-based SEB is a provider of technology solutions and services for managing benefit and healthcare claims processing. It said it will retain a partnership with Regina-based Paradigm for deployment of SEB solutions and services in Saskatchewan and Manitoba.
2 min read · 25 September 2018
Shareholders of Enercare Inc (TSX: ECI), a Canadian home and commercial services and energy solutions provider, have voted in favour of the company's acquisition by Brookfield Infrastructure. The deal, announced in August, would see Brookfield acquire Enercare for $29 per share. It is valued at about $4.3 billion, including debt, and expected to close in Q4 2018. Based in Markham, Ontario, Enercare provides water heaters, water treatment, furnaces, air conditioners and other HVAC rental products, plumbing services, protection plans and related services. It serves about 1.6 million Canadian and U.S. customers annually.
3 min read · 24 September 2018
Digital Realty (NYSE: DLR ) has agreed to acquire Ascenty, a Brazilian data centre business, from U.S. private equity firm Great Hill Partners. The deal, expected to close in Q4 2018, is valued at about US$1.8 billion. Brookfield Infrastructure has agreed to commit half of the required initial equity investment, estimated at about US$613 million. As a result, Brookfield would secure a 49 percent stake in the entity that owns Ascenty. San Francisco-based Digital Realty said the acquisition will establish it as Latin America's leading data centre provider.
7 min read · 24 September 2018
Canada Pension Plan Investment Board (CPPIB) has agreed to invest US$285 million in a new vehicle that will purchase equity in the collateralized loan obligations (CLOs) of Sound Point Capital Management. The purchases will be made over the next several years by CPPIB Credit Investments. CPPIB said the partnership with Sound Point, a U.S. credit-focused asset manager, will be the first of several involving CLO specialists. John Graham, CPPIB global head of credit investments, said CLO equity enables his group to broaden and diversify its portfolio and provides a "compelling source of risk-adjusted returns" to the pension fund.
4 min read · 24 September 2018
Array Canada Inc has agreed to acquire Willson & Brown, a Warsaw, Poland-based designer, creator, installer and supporter of point-of-sale programs in the cosmetics, beverage, consumer goods and consumer electronics sectors. No financial terms were released for the deal, which is expected to close on October 15. Array, a Toronto-based provider of in-store merchandising services, said the acquisition will bring in new customers and resources and enhance its capacity across Europe and the Middle East. Array was acquired in December 2015 by U.S. private equity firm Carlyle Group from Canadian private equity firm TorQuest Partners.
3 min read · 24 September 2018
