Vancouver-based copper mining company Coro Mining Corp (TSX: COP) has launched a $46.7 million financing plan that includes a $13.2 million investment by Tembo Capital, a U.K. mining private equity firm. Tempo has also agreed to provide a stand-by guarantee for a forthcoming $33.6 million rights offering. Additionally, Greenstone Resources, a U.K. mining private equity firm and Coro's majority shareholder, will convert a US$2 million loan into equity. Coro said the proceeds will be used to repay debt and acquire properties and fund exploration and expansion at its flagship Marimaca copper project in Chile.
7 min read · 08 August 2018
MineSense Technologies, a Vancouver-based digital mining solutions provider, has secured $23.5 million (US$18 million) in its latest financing. The round was led by Prelude Ventures and joined by strategic investors Caterpillar Inc, Mitsubishi Corp and new backer ABB Technology Ventures, the venture capital arm of Europe's ABB Group. Existing investors Aurus Ventures, Chrysalix Venture Capital and Cycle Capital Management also participated. MineSense, founded in 2008, provides real-time, sensor-based ore data and sorting solutions for large-scale mines. CEO Jeff More said the funds raised will accelerate the commercialization of the company's digital offering.
3 min read · 08 August 2018
IS5 Communications Inc, a Toronto-based provider of cyber-secure industrial platforms, has closed C$22 million financing. The deal was led by Phoenix Contact Innovation Ventures, the venture capital arm of Germany’s Phoenix Contact Group, and joined by U.S. venture capital firm ClearSky and other investors. Representatives of Phoenix and ClearSky have joined the board. Founded in 2012 by President and CEO Clive Dias, iS5Com provides integrated services and solutions, and makes intelligent industrial Ethernet products, for a range of sectors.
3 min read · 08 August 2018
Public Sector Pension Investment Board (PSP Investments) and Bahrain's Investcorp have acquired a minority interest in United Talent Agency (UTA), a Beverly Hills, California-based talent and entertainment company. Terms weren't released; however, Bloomberg reported the deal values UTA at about US$800 million. Founded in 1991, UTA represents artists and content creators in motion pictures, television, music, digital, broadcast news, books, theatre, video games, fine art and live entertainment. PSP Investments Head of Private Equity Simon Marc said UTA is "uniquely positioned to benefit" from transformative trends in the global entertainment and media industry.
6 min read · 07 August 2018
2 min read · 07 August 2018
ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, has acquired Precision Global, a Greenville, South Carolina-based maker of dispensing solutions. Terms weren't disclosed. The seller was Peak Rock Capital, which acquired the company in 2015. Founded in 1949, Precision produces aerosol valves, custom actuators and other dispensing solutions for a range of end markets, including personal care, household, food and beverage, industrial and pharmaceutical. ONCAP IV, which raised US$1.1 billion in 2016, invested about US$111 million in the deal. ONCAP said it will support management efforts to grow Precision organically and through acquisitions.
3 min read · 07 August 2018
2 min read · 07 August 2018
IS5 Communications Inc, a Toronto-based provider of cyber-secure industrial platforms, has closed a $22 million financing. The deal was led by Phoenix Contact Innovation Ventures, the venture capital arm of Germany's Phoenix Contact Group, and joined by U.S. venture capital firm ClearSky and other investors. Founded in 2012 by President and CEO Clive Dias, iS5Com provides integrated services and solutions, and makes intelligent industrial Ethernet products, for a range of sectors. The company will use the funds raised to further enhance its RAPTOR platform and develop solutions for securing critical infrastructure communications and networks.
4 min read · 07 August 2018
AlayaCare, a cloud-based home healthcare software provider, has secured $13.8 million in a Series B financing. Canadian venture capital firm iNovia Capital led the round. As a result, iNovia Principal Magaly Charbonneau will join the board. Other investors in the deal included Chrysalis and Fonds Innovexport. Founded in 2014 by CEO Adrian Schauer, AlayaCare’s platform offers support to home and community care providers, including back office, client and family portals, remote patient monitoring, telehealth and mobile care worker functionality. The Toronto- and Montréal-based company will use the funds raised to continue expanding in the U.S. market and further develop its technology.
3 min read · 07 August 2018
Maibec Inc, a Lévis, Québec-based manufacturer and marketer of wood products, has sold its lumber mills in Saint-Pamphile, Québec and Masardis, Maine to Groupe Lebel Inc. No financial terms were released. Based in Rivière-du-Loup, Québec, Groupe Lebel is a family-owned forest products company. Maibec President François Tardif said his company will now focus on its pre-stained exterior siding's systems business. A family-owned company established in 1946, Maibec has been backed since 2013 by Fonds de solidarité FTQ.
2 min read · 07 August 2018
