Premium Brands Holdings Corp (TSX: PBH) has agreed to acquire Ready Seafood Co, a Portland, Maine-based processor, distributor and marketer of lobsters in the United States. Terms weren't released for the deal, which is expected to close within the next four weeks. Premium Brands, a Vancouver-based specialty food products company, said the transaction gives its seafood platform a foothold in the U.S. market, enabling additional acquisitions. Premium Brands is a portfolio investment of Canadian family office Pender West Capital Partners.
3 min read · 05 September 2018
CIBC Innovation Banking has provided $22.5 million of debt financing to TigerConnect, a Santa Monica, California-based clinical communication solutions platform. Founded in 2010, TigerConnect helps physicians, nurses and other staff in over 4,000 healthcare organizations communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. The company’s investors include Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.
3 min read · 05 September 2018
U.S. private equity firm Wynnchurch Capital has acquired select assets of Uponor Infra Ltd, the Canadian affiliate of Finland's Uponor Corp. Terms weren't disclosed for the deal, which will see the business rebranded as Infra Pipe Solutions Ltd, a Mississauga, Ontario-based maker of large-diameter, high-density polyethylene pipe. Infra Pipe, led by CEO Sandeep Dhillon, sells pipe for use in water infrastructure, mining, industrial processes, oil and gas distribution, and other applications. The company is Wynnchurch’s eleventh investment in Canada. Last month, it acquired Logistik Unicorp Inc, a Saint-Jean-sur-Richelieu, Québec-based uniform solutions provider.
3 min read · 05 September 2018
CIBC Innovation Banking has provided US$22.5 million of debt financing to TigerConnect, a Santa Monica, California-based clinical communication solutions platform. Founded in 2010, TigerConnect helps physicians, nurses and other staff in over 4,000 healthcare organizations communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. Its investors include Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.
3 min read · 05 September 2018
BCE Inc (Bell Canada) (TSX, NYSE: BCE) has wrapped up its acquisition of Axia NetMedia Corp, a Calgary-based services provider on fibre communications infrastructure. No financial terms were disclosed for the deal, which was announced in July. The seller was European private equity firm Partners Group, which acquired Axia two years ago in a $272 million take-private transaction. Axia is the operator of SuperNet, a broadband network launched in 2005 to connect government and public organizations, business users and internet providers in Alberta.
3 min read · 05 September 2018
Kira Systems, a Toronto-based artificial intelligence-enabled contract analytics software vendor, has raised $50 million in a Series A financing. The round was backed by U.S. venture capital firm Insight Venture Partners. As a result, Insight Managing Director Peter Sobiloff will join the board. Founded in 2011 by CEO Noah Waisberg and CTO Alexander Hudek, Kira’s platform leverages machine learning technology to automatically identify and extract relevant information from contracts and related documents.
4 min read · 05 September 2018
Penfund, a Canadian provider of junior capital to mid-market companies in North America, has hired Joe Mattina as a partner and head of origination, according to a news release. Mattina joins Penfund from New York alternative-asset manager Apollo Global Management. He was recruited by Apollo in 2013 to establish its Canadian office in Toronto. Mattina has since been responsible for the firm's credit origination locally along with certain coverage roles in the United States. Previously, Mattina was head of leveraged finance and sponsor coverage at Macquarie Canada, a managing director at Fortress Investment Group and a vice president at GE Capital.
1 min read · 05 September 2018
Penfund, a Canadian provider of junior capital to mid-market companies in North America, has hired Joe Mattina as a partner and head of origination, according to a news release. Mattina joins Penfund from New York alternative-asset manager Apollo Global Management. He was recruited by Apollo in 2013 to establish its Canadian office in Toronto. Mattina has since been responsible for the firm's credit origination locally along with certain coverage roles in the United States. Previously, Mattina was head of leveraged finance and sponsor coverage at Macquarie Canada, a managing director at Fortress Investment Group and a vice president at GE Capital.
1 min read · 05 September 2018
Kira Systems, a Toronto-based artificial intelligence-enabled contract analytics software vendor, has raised about $66 million (US$50 million) in a Series A financing. The round was backed by U.S. venture capital firm Insight Venture Partners. Insight Managing Director Peter Sobiloff will join the board. Founded in 2011 by CEO Noah Waisberg and CTO Alexander Hudek, Kira's platform leverages machine learning technology to automatically identify and extract information from contracts and related documents. Its clients include law firms, as well as other professional services firms and businesses. Kira will use the funds raised to further enhance its software and expand its global customer base.
4 min read · 05 September 2018
Ontario Teachers' Pension Plan has agreed to acquire Kanetix Ltd, a Toronto-based insurance and financial technology company. No financial terms were disclosed. Founded in 1999, Kanetix operates a digital customer acquisition platform and marketplace that provides quote comparison search tools for insurance and other financial products. Ontario Teachers' also announced Igal Mayer will become the new president and CEO of Kanetix, replacing Andrew Lo. Kanetix was formerly a portfolio investment of U.S. private equity firm Monitor Clipper Partners (MCP). MCP acquired the business in September 2011.
2 min read · 04 September 2018
