Aritzia Inc (TSX: ATZ), a Vancouver-based women’s fashion brand, said U.S. private equity firm Berkshire Partners and another investor will sell subordinate voting shares for $16.55 per unit. The secondary offering is expected to generate proceeds of more than $100 million or more than $115 million if the greenshoe option is exercised in full. Upon completion of the offering, and assuming no exercise of the greenshoe option, Berkshire will hold about 22.4 percent of issued and outstanding shares and about 45.1 percent of the voting power attached to all of the shares. Aritzia went public in 2016, raising $460 million. Berkshire acquired the company in 2005.
4 min read · 18 July 2018
Slack, a cloud-based collaboration software provider, has acquired Missions, an app that automates processes and tasks in Slack. The seller was Robots & Pencils, a Calgary-based digital innovation agency. No financial terms were disclosed. Slack said it will build on Missions' technology to help enterprise teams streamline routine tasks, freeing them to do more creative and strategic work. Led CEO Stewart Butterfield, a Canadian entrepreneur, San Francisco-based Slack last year raised US$250 million from SoftBank Group, Accel Partners and other investors. Founded in 2009, Robots & Pencils is backed by U.S. investors Next Sparc and Zanite Ventures.
3 min read · 18 July 2018
Armored Things has raised $5.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Glasswing Ventures and Canadian firm iNovia Capital and joined by new and existing investors. As a result, Todd Simpson, an iNovia partner, will join the board. Based in Boston, Armored Things uses Internet-of-Things devices and their data to provide safety to large venues, such as schools, stadiums and streets.
2 min read · 18 July 2018
Armored Things has raised US$5.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Glasswing Ventures and Canadian firm iNovia Capital and joined by new and existing investors. As a result, Todd Simpson, an iNovia partner, will join the board. Based in Boston, Armored Things uses Internet-of-Things devices and their data to provide safety to large venues, such as schools, stadiums and streets. The company will use the funds raised for platform development and sales and marketing in advance of an initial product release next year.
3 min read · 18 July 2018
Nutrien Ltd (TSX, NYSE: NTR), a Saskatoon-based crop inputs and services provider, has agreed to acquire Agrible Inc, a U.S. provider of predictive analytics tools that deliver field-specific data and forecasts to growers and other companies. Nutrien agreed to pay US$63 million for Agrible. The deal is expected to close this month. Nutrien, formed in January by the merger of Agrium Inc and Potash Corp, said the acquisition will provide it with digital capabilities that support the growth of its retail business. Founded in 2012, Agrible was backed by Archer Daniels Midland Co, Flyover Capital, Maumee Ventures, Serra Ventures and other investors.
4 min read · 18 July 2018
Vancouver-based gaming company Gateway Casinos & Entertainment Ltd has struck a deal with Ontario Lottery and Gaming Corp (OLG) to acquire the assets of OLG's Central Gaming Bundle. Terms weren't disclosed. As a result, Gateway entered into leases for Casino Rama Resort on Chippewas of Rama First Nation lands and OLG Slots at Georgian Downs in Innisfil. Gateway, which was awarded bundles in Northern Ontario and Southwestern Ontario last year, now operates 11 gaming properties in the province. The deal increases its properties in Canada to 27. Gateway has been owned since 2010 by Canadian private equity firm Catalyst Capital Group.
5 min read · 18 July 2018
Edmonton-based insurance services provider SCM Insurance Services has acquired Affirmative Risk Management (ARM), a Little Rock, Arkansas-based claims settlements company. Terms weren't disclosed. ARM is focused on third-party administration to the Lloyd’s of London marketplace with a specialization in trucking-cargo and liability claims. SCM, which entered the United States last year with its buy of Nixon & Co Inc, said the deal supports further expansion in that market. Founded in 1986, SCM has been backed since 2010 by Canadian private equity firm TorQuest Partners. Last August, TorQuest sold a portion of its stake, facilitating a majority investment by Warburg Pincus.
3 min read · 18 July 2018
WeWork Property Advisors LLC (WPA), a joint venture of Rhône Capital and WeWork Cos Inc, has acquired about 50 percent of the interest in a Rhône affiliate that holds the U.S. private equity firm's preferred investment in Canadian retailer Hudson’s Bay Co ((TSX: HBC). WPA paid about $326 million (US$248 million) for the interest. Rhône said the deal was contemplated last year when it agreed to invest about $632 million (US$500 million) in HBC. SoftBank-backed WeWork, a U.S. co-working space provider, at the same time agreed to buy HBC's Lord & Taylor building for US$850 million.
4 min read · 17 July 2018
Caesars Entertainment Corp (Nasdaq: CZR) has closed its buy of Centaur Holdings LLC, an Indianapolis, Indiana owner and operator of the Hoosier Park Racing and Casino and the Indiana Grand Racing and Casino. The deal, announced last year, reflected a purchase price of US$1.7 billion. It provided exits to Canadian private equity firm Clairvest Group and Canadian hedge fund manager West Face Capital, which jointly invested in 2010. Clairvest said Clairvest Equity Partners IV received sale proceeds of about US$415 million at closing and is entitled to US$22 million in deferred consideration. This represents a more than 14x multiple on the fund's investment (C$).
3 min read · 17 July 2018
Inkbox, a Toronto-based semi-permanent tattoo platform, has secured more than $17 million (US$13 million) in a Series A financing. The round was led by Maveron and joined by Founders Fund, Cassius, Golden Ventures, KDWC Capital, Flight Ventures and Novel TMT. Silicon Valley Bank also contributed US$3 million of venture debt. Founded in 2015 by CEO Tyler Handley and Braden Handley, Inkbox closed a $1 million seed financing in 2016. It has since grown 1,000 percent and sold 450,000 tattoos worldwide. Inkbox will use the Series A's proceeds to expand its artist marketplace, develop new tattoo technologies, strengthen its brand, and scale operations through strategic hires.
4 min read · 17 July 2018
