Kirk Falconer

Globalive leads $1.3 mln round of U.S.-bound EnergyX Solutions

EnergyX Solutions Inc, a Toronto-based energy management software platform, has raised $1.3 million in financing. Globalive Capital, the investment firm of Anthony Lacavera, led the round. It was joined by Verstra Ventures, Armco Group of Companies and Impact Investment Partners. Founded in 2016, EnergyX is a marketing automation company that helps homes and businesses save up to 25 percent on energy bills by licensing its energy audit and marketplace app, MyEnergyXpert, to utilities and government organizations. CEO Nishaant Sangaavi said the funds raised will support EnergyX's expansion into the United States and beyond.

GIC's Andreas Köttering to lead CBRE Caledon's London office

CBRE Caledon Capital Management has hired Andreas Köttering as a partner and head of infrastructure for Europe. Köttering will be responsible for building a team, and originating, executing and managing infrastructure investments, from CBRE Caledon's new office in London. Köttering joins the firm from GIC, Singapore’s sovereign wealth fund, where he served as co-head of infrastructure, Europe. He previously held other senior infrastructure roles, including at Canada Pension Plan Investment Board. CBRE Caledon, a Toronto-based infrastructure and private equity solutions provider, formed last year with CBRE Group Inc’s acquisition of Caledon Capital Management.

CIX selects 2018’s top 20 innovative companies in Canada

Canadian Innovation Exchange (CIX) has announced this year’s roster of 20 innovative companies to be inducted into the annual CIX Top 20 program. The companies, many of them venture-backed, were selected by technology experts and investors from across Canada. The CEO of each top 20 company will present at CIX 2018 on October 22-23 in Toronto. The top 20 are Borrowell, Canvass Analytics, Clearbanc, Coconut Software, Delphia, Dialogue, eSight, inkbox, Intuitive AI, IRYStec Software, Island Water, Kiite, Klue, Myant, Roadmunk, skritswap, Smooch, Validere, Vendasta and Zighra.

Surge Energy to buy PE-backed Mount Bastion for $320 mln

Surge Energy Inc (TSX: SGY) has agreed to acquire Mount Bastion Oil and Gas Corp, a Calgary-based oil and gas explorer and producer, for $320 million in cash and stock. The deal, expected to close in October, is supported by Mount Bastion directors and officers as well as its largest shareholder, collectively representing about 70 percent of the company's shares. The acquisition by Surge, a Calgary-based oil-focused company, will provide an exit to JOG Capital, a Canadian energy private equity firm. JOG invested in Mount Bastion in 2016. Mount Bastion's Alberta assets include about 5,500 barrels of oil equivalent per day of light crude oil production.

Flexiti secures $80 mln mezzanine facility from Credit Suisse

Toronto-based point-of-sale consumer financing company Flexiti Financial has secured an $80 million mezzanine debt facility from Credit Suisse Asset Management. The loan, which follows a $300 million senior lending facility provided by Credit Suisse earlier this year, will fund future originations and support the company's merchant partners. Flexiti, founded in 2013 by CEO Peter Kalen, raised $50 million from Globalive Capital in June. The investment, which gave Globalive a controlling stake, backed Flexiti’s buy of a $250 million private-label credit card portfolio from TD Financing Services.

SkyX raises $12.5 mln in Almond Tree-led Series B round

SkyX, a Toronto-based developer of autonomous vehicles for asset monitoring and data collection, has raised about $12.5 million (US$9.5 million) in a Series B financing. The round was backed Almond Tree-SkyX LP, led by Almond Tree Enterprise, a Canadian family office. It brings total funding so far to about $20 million. Founded in 2015 by CEO Didi Horn, SkyX's drones use a variety of sensors to gather customized, high-resolution data, enabling clients to monitor long-range assets, such as oil and gas pipelines. SkyX said it will use the funds raised to execute customer contracts and pursue a go-to-market strategy targeting utilities and energy companies.

Kevin Yu recruited to Altas Partners as associate

Canadian private equity firm Altas Partners has hired Kevin Yu as an associate. Yu previously served at Lazard and before then BMO Capital Markets. Working from Toronto, he helped both firms execute mergers and acquisitions, restructurings, and capital markets transactions across a range of sectors. In July, Altas hired David Brent, formerly of Apollo Global Management, as a partner. Toronto-based Altas is currently investing from Altas Partners Holdings LP, which raised US$1 billion in 2016.

Version One Ventures' Angela Tran Kingyens promoted to GP

Canadian early-stage venture capital firm Version One Ventures has promoted Angela Tran Kingyens to general partner. Kingyens joined Version One in 2013 as an analyst and was promoted last year to principal. She was formerly a partner at Insight Data Science, a Y Combinator-backed startup that helps PhD graduates transition from academic research to industry careers. The promotion of Kingyens, who operates from Version One’s Silicon Valley office, brings the firm's general partners to two. The other is Boris Wertz, who founded Version One in 2012.

HIG Capital acquires Recochem from Swander Pace Capital

U.S. private equity firm HIG Capital has acquired Recochem Inc, a Montréal-based maker of aftermarket transportation and household fluids. Terms weren't released for the deal, which saw HIG acquire Recochem from U.S. private equity firm Swander Pace Capital. Swander Pace bought the business in 2014. Founded in 1951, Recochem's products span branded, private label and bulk offerings and include coolant, windshield wash fluid, diesel exhaust fluid and a range of household fluids and industrial chemicals. President and CEO Richard Boudreaux said the partnership with HIG will support the company's "numerous opportunities to expand globally." Recochem is Swander Pace's third exit from a Canadian portfolio company since early 2017.

Ericsson to acquire VC-backed software company CENX

Swedish telecommunications giant Ericsson (Nasdaq: ERIC) has agreed to acquire CENX, a provider of service assurance software solutions to mobile, wireline and enterprise network companies. No financial terms were disclosed. Founded in 2009 and based in Jersey City, New Jersey, CENX has its research and development facility in Ottawa. Ericsson has held a stake in CENX since 2012. The company's other investors include BDC Capital, Cross Creek Advisors, DCM Ventures, Highland Capital Partners, Mesirow Financial, Mistral Venture Partners and Verizon Ventures.