GHGSat, a Montréal-based provider of global emissions monitoring services, has raised nearly $13 million (US$10 million) in a Series A2 financing. The round was led by U.K.-based OGCI Climate Investments. Other investors included Schlumberger, Space Angels and Business Development Bank of Canada (BDC). Founded in 2011 by CEO Stéphane Germain, GHGSat is focused on remote sensing of greenhouse gas and air quality gas emissions from industrial sites using satellite technology. The company, which has so far raised more than $26 million (US$20 million), including government financing, will use the latest funds raised to accelerate commercialization, expand its custom analytics services, and launch an additional satellite.
3 min read · 24 September 2018
Athletica Sport Systems Inc has acquired Cascadia Sport Systems Inc, a Port Moody, British Columbia-based provider of gymnasium and arena products for sport and multi-use entertainment facilities worldwide. Terms weren't released for the deal, which will see Cascadia continue to operate separately. Athletica, a Waterloo, Ontario-based designer and maker of dasher board systems for hockey arenas and multi-sport facilities, said the acquisition will expand its geographic footprint, with new offices in Vancouver and Beijing, and its offering. Athletica was acquired earlier this year by Canadian private equity firm Fulcrum Capital Partners.
3 min read · 24 September 2018
U.S. private equity firm Hidden Harbor Capital Partners has acquired Anchor Danly Fabrications and AWC Manufacturing, a Windsor, Ontario-based maker and distributor of industrial tooling and related components and provider of metal fabrication services. Terms weren't released for the deal, which closed last week. Anchor Danly and AWC, which have production locations in Canada and the United States, serve tool and mould companies and other industrial original equipment manufacturers. The business is led by President Mike Hayton. Hidden Harbor Founding Partner Chris Paldino said his firm will help Anchor Danly and AWC scale their operations.
3 min read · 24 September 2018
Canadian venture capital firm Information Venture Partners (Information VP) has brought on Marc Altshuller as an entrepreneur in residence (EIR). Altshuller, the Toronto-based firm's first EIR, will help mentor portfolio companies and support investment activity. Altshuller joins Information VP from U.S. tech giant IBM, where he served for over six years, most recently as general manager for the business analytics division. He also co-founded Varicent Software Inc, a Toronto-based compensation and sales performance management analytics provider acquired by IBM in 2012. Varicent was backed by Information VP's predecessor, RBC Venture Partners.
3 min read · 21 September 2018
ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, has acquired a majority stake in Walter Surface Technologies, a Pointe-Claire, Québec-based provider of solutions for the metal working industry. Terms weren't disclosed. The seller is Canadian family office Walter Group of Cos, which will retain a minority interest. Walter was established in 1952. It provides abrasives, power tools, tooling, chemical solutions and environmental solutions to a range of end markets and has a presence in seven countries in North America, South America and Europe. Marc-André Aubé, Walter's newly-appointed CEO, said ONCAP will support Walter's growth organically and through add-on acquisitions.
4 min read · 21 September 2018
Canada House Wellness Group Inc, a Toronto-based medical cannabis company, has secured a draw-down equity facility of up to $25 million. The investor is Alumina Partners, a U.S. private equity firm. Established in 2016, Canada House provides patient-specific cannabinoid therapy products and services through its clinics and licensed producer. The company will use the facility's proceeds for its expansion strategy, which includes adding new patients, completing and expanding an indoor grow facility, and other production priorities.
3 min read · 20 September 2018
Ivanhoé Cambridge has acquired Callahan Capital Properties, a Chicago-based real estate private equity firm. No financial terms were released. Founded in 2006, Callahan focused on acquiring and managing office properties in major U.S. cities. Ivanhoé has partnered with the firm since 2012, helping to expand office property assets to more than US$10 billion. Ivanhoé, the real estate investment arm of Caisse de dépôt et placement du Québec, said bringing on Callahan's team of professionals will support next steps in its U.S. office strategy.
2 min read · 20 September 2018
Beanworks, a Vancouver-based accounts payable automation company, has secured $10.1 million in a Series B financing. The round was led by U.S. venture capital firm FINTOP Capital alongside BDC Capital’s Women in Technology Venture Fund. They were joined by new and existing investors. As a result, BDC Capital's Michelle Scarborough and FINTOP's Joe Maxwell joined the board. Founded in 2012, Beanworks' cloud-based solution helps businesses streamline invoice-to-payment strategies by eliminating paperwork and reducing processing costs. Led by CEO Catherine Dahl, Beanworks will use the funds raised to enhance its platform, release an expense module, and expand into new markets.
3 min read · 20 September 2018
Ovivo Inc has acquired FilterBoxx Water & Environmental Corp, a Calgary-based designer and supplier of modular water and wastewater solutions for industrial customers. Terms weren't disclosed. Ovivo, a Montréal-based provider of water and wastewater treatment equipment, technology and systems, said the deal will help it grow its industrial footprint in North America. Led by President and CEO Kevin Slough, who co-founded the company in 2001, FilterBoxx was backed by EnerTech Capital, XPV Water Partners and other investors. Ovivo was acquired in 2016 by German family office SKion GmbH and Caisse de dépôt et placement du Québec for $185 million.
3 min read · 20 September 2018
Toronto-based gold producer TMAC Resources Inc (TSX: TMR) has launched a $90 million offering that includes a $66.5 million private placement transaction. The private placement will be backed by the company's largest shareholders, U.S. mining private equity firm Resource Capital Funds (RCF), Newmont Mining Corp and an investment affiliate of U.S. asset manager BlackRock. TMAC, backed by RCF and Newmont when it went public in 2015, holds a 100 percent stake in the Hope Bay Property, a gold deposit located in Nunavut. It will use the offering's proceeds for debt repayment and Hope Bay-related exploration and capital expenditures.
4 min read · 20 September 2018
