Georgian Partners, which only weeks ago closed its fourth fund, is backing a software provider that aims to rid the global marketplace of counterfeit drugs. TraceLink, a Boston pharmaceuticals-tracking platform, said today that it raised a US$93 million financing led by the Canadian growth equity firm. Georgian Partner Tyson Baber joined the board. Founded in 2009, TraceLink provides a network for drugmakers and other stakeholders in the global life-sciences supply chain to connect and share information in real time. Along with leading its round, Georgian will support the company's artificial intelligence and machine learning strategy.
2 min read · 21 August 2018
3 min read · 21 August 2018
Verifone Systems Inc, a U.S. payments and commerce solutions provider, said it has been acquired by an investor group led by U.S. private equity firm Francisco Partners and joined by British Columbia Investment Management Corp (BCI). The deal, announced in April and closed today, saw Verifone taken private for US$23.04 per share in cash, representing a total consideration of about US$3.4 billion, including net debt. Going forward, the San Jose, California-based company will be led by CEO Mike Pulli.
3 min read · 20 August 2018
Canadian water-focused growth equity firm XPV Water Partners has invested in Mobiltex Data Ltd, a Calgary-based engineer, designer and maker of industrial mobile data systems. The investment's value was not disclosed. Founded in 1985 by Jerry Chilibecki and Dale Poloway, Mobiltex's internet-of-things products and services help monitor corrosion protection in pipelines and other distribution and storage infrastructure assets. XPV Partner Khalil Maalouf said his firm's investment will help the company scale up its geographic presence and expand its offering. Based in Toronto, XPV oversees more than $400 million in committed institutional capital.
3 min read · 20 August 2018
Canadian healthcare private equity firm DW Healthcare Partners (DWHP) has invested in California Psychcare (CPC), a Van Nuys, California-based provider of behavioural services for children and adults with an autism spectrum disorder and other developmental disabilities. Terms weren't disclosed for the deal, which will see CPC rebranded as 360 Behavioral Health. DWHP Managing Director and Partner Aly Champsi said his firm will support 360's continued growth. This will be achieved in part by expansion into other geographies and helping the company become a fully integrated, holistic provider of behavioural health services.
3 min read · 20 August 2018
Canadian healthcare private equity firm Persistence Capital Partners (PCP) has sold Medisys Health Group Inc, a Montréal-based provider of corporate health and wellness services. Terms weren't disclosed. The buyer was Canadian telecommunications provider Telus Corp (TSX: T). As a result, Medisys will join Telus Health, the digital healthcare solutions affiliate of Telus. Medisys was established in 1987 by PCP Founding Partner Sheldon Elman. The company went public in 2002 and was returned to private ownership in 2008 by PCP. Medisys was the investor's first platform deal. Telus said the acquisition will help it accelerate the delivery of employee-centered care.
2 min read · 20 August 2018
Alignvest Student Housing Real Estate Investment Trust (ASH REIT) has acquired an 18-storey, 455-bed student residence located near the University of Waterloo and Wilfred Laurier University. Terms weren't disclosed. The Waterloo property acquisition is the first deal of ASH REIT, which last month raised $65 million to invest in Canada's purpose-built student accommodation real estate sector. ASH REIT is managed by Alignvest Student Housing, an affiliate of Canadian alternative investment manager Alignvest Management Corp. Alignvest Student Housing said it will introduce amenities and services to the building over the next few months.
3 min read · 17 August 2018
BDC Capital has added to the bench strength of its growth equity group to make further inroads in Canada’s lower-mid market and deploy a $250 million fund. BDC recently hired three seasoned investment pros for offices in Vancouver, Toronto and Montréal. They include Jean Bédard and Loren Rafeson, who will serve as directors. Claude Miron, vice president and head of growth equity, said the recruits bring fresh capabilities to the team, extend its reach, and will help introduce BDC’s minority-capital offering to small businesses.
3 min read · 17 August 2018
Vancouver Founder Fund (VFF) has closed its second seed-stage venture capital fund to invest in technology companies in the Pacific Northwest. VFF said Fund II raised more than twice the committed capital of Fund I, which raised $14 million in 2016. According to a report by BetaKit, the amount secured was $31 million. BDC Capital was Fund II's sole institutional investor, the report said. Fund II's debut investment was real estate marketing software platform AvenueHQ, which earlier in 2018 raised $4.5 million in a seed round. Vancouver-based VFF was founded in 2015 by Managing Partner Fraser Hall and Partner Dan Eisenhardt, who together formerly led Recon Instruments, and Partner Jay Rhind.
3 min read · 16 August 2018
Northleaf Capital Partners has hired Matthew Russell as a senior associate, private equity. Operating from the firm's London office, Russell will assume a role in all private equity investment activity, with a focus on origination, evaluation and monitoring. He joins Northleaf from European private equity firm Partners Group, where he was a member of the secondaries team. Previously, he was a sell-side M&A advisor at Cavendish Corporate Finance. Toronto-based Northleaf is a global private equity, infrastructure and private credit manager, overseeing more than $10 billion in capital commitments.
1 min read · 16 August 2018
