Montréal-based 3D computer vision startup Airy3D has raised more than $13 million (US$10 million) in a Series A financing. Intel Capital led the round. It was joined by CRCM Ventures, Nautilus Venture Partners, R7 Partners, Robert Bosch Venture Capital, WI Harper Group and angel investors affiliated with TandemLaunch, the incubator that spun out Airy3D, all of which backed last year's seed financing. The funds raised will advance a licensing road-map for the 2019 commercial adoption of Airy3D's DepthIQTM platform with mobile original equipment manufacturers. Founded in 2015, Airy3D is led by CEO Dan Button.
4 min read · 17 July 2018
Canadian specialty finance firm Crown Capital Partners said its special situations fund, Crown Capital Partner Funding (CCPF), has secured an additional $75 million in committed capital from institutional and other sources. The fund now oversees $300 million. CCPF initially closed in 2015 with a $300 million target. Crown said the fund's investment period has been extended to 2019, and its maximum size increased to $500 million. CCPF provides senior and subordinated loans to special situations financings originated and managed by Crown. It currently has about $207 million invested in 13 mid-market companies.
2 min read · 16 July 2018
Caisse de dépôt et placement du Québec has made a $250 million preferred investment in Avison Young, a Toronto-based provider of commercial real estate services. The proceeds will be used for Avison's growth plan, backing investments in acquisitions and the recruitment of professionals that support the expansion of the company's global footprint and service-line capabilities. They will also be used to rebuy shares held by Parallel49 Equity. Parallel49 was formed in 2015 when Tricor Pacific Capital rebranded its fifth fund. Tricor made the initial investment in Avison in 2011. Avison reports growing an initial base of 11 offices in Canada to 84 offices across North America and Europe in just under 10 years.
5 min read · 16 July 2018
Canadian private-markets investor Northleaf Capital Partners has promoted three professionals in its private equity and private credit teams. Brad Blowes was promoted to vice president, private equity. Blowes, who joined Northleaf in 2014 from CommonWealth Fund Services, will help launch the firm's New York office. Serge Koniski was also promoted to director, private equity, operating from the London office. Koniski joined Northleaf in 2012 from Bank of America Merrill Lynch. Additionally, Spencer Ross, who joined Northleaf two years ago from Catalyst Capital Group, was promoted to vice president, private credit. He will be based in the firm's Toronto headquarters.
2 min read · 16 July 2018
Fengate Real Asset Investments has appointed Omar Khalifa as a director, serving with the firm's private equity team. He will be responsible for originating, evaluating and executing private equity deal opportunities in Canada and internationally. Khalifa joins Fengate from the private markets group of OPTrust, where he worked for 10 years, most recently as a director. He served in the Canadian pension fund manager's London and Toronto offices. Toronto-based Fengate launched its private equity business in 2017.
1 min read · 16 July 2018
Vertex Resource Group Ltd (TSX-V: VTX) has acquired Three Star Trucking Ltd, an Alida, Saskatchewan-based oilfield trucking business. The acquisition reflected a purchase price of $8.9 million, consisting of cash, share issues and promissory notes. Vertex, a Sherwood Park, Alberta-based environmental and industrial services provider, said the deal adds 270 pieces of equipment to the company's fleet and strengthens its service lines in Saskatchewan and the United States. Vertex in 2017 closed an $85.8 million qualifying transaction to go public with the backing of Canadian energy private equity firm 32 Degrees Capital.
3 min read · 16 July 2018
U.S. private equity firm Southfield Capital has acquired shopper marketing solutions provider Match Marketing Group Inc, according to a report by Adweek. Terms weren't disclosed. The seller is Canadian private equity firm Beringer Capital, which has backed the Norwalk, Connecticut- and Toronto-based Match since 2011. The company will continue to be led by President and CEO Michael Dill, Adweek said. Adweek, a New York-based news source for marketing, media and advertising professionals, is a portfolio company of Beringer. The investor acquired it in 2016 from Mediabistro Holdings LLC.
1 min read · 16 July 2018
Toronto-based RL Solutions has agreed to combine with London, U.K.-based Datix Ltd to create a single provider of healthcare quality and patient safety software. No financial terms were released for the deal, which is expected to close in the next few weeks. The combined company will be led by Datix CEO Seyed Mortazavi and have more than 3,000 clients in 19 countries. RL Solutions was founded in 1997 by CEO Sanjay Malaviya. Malaviya will become executive chairman of the new entity's board. Earlier this year, Datix secured an investment from TA Associates. The U.S. private equity firm now holds a stake alongside Five Arrows Principal Investments.
4 min read · 16 July 2018
Vancouver-based clean technology company Inventys has secured an initial $14.5 million (US$11 million) for its Series C financing. The round was led by U.K.-based OGCI Climate Investments and joined by existing investors Roda Group and Chevron Technology Ventures. Inventys plans to raise additional funding for the Series C, increasing it to about $27.6 million (US$21 million). Inventys is developing a CO2 marketplace using next-generation carbon-capture technology at half the cost of conventional systems. The company will use the funds raised to back a CO₂ capture pilot plant demonstration program with Husky Energy Inc as well as its time-to-market strategy.
3 min read · 16 July 2018
Epiq, a U.S. provider of professional services and technology to the legal profession, has acquired Bruneau Group Inc, an Ottawa-based settlement administration services company. No financial terms were disclosed. Epiq said the deal will expand its global reach along with its settlement administration capabilities in Canada. Bruneau Group was founded in 2003 by President Laura Bruneau. Based in Atlanta, Georgia, Epiq was acquired in 2016 by OMERS Private Equity and Harvest Partners for US$1 billion. Epiq was at the same time merged with U.S. legal processing outsourcing company DTI, backed by OMERS since 2014.
3 min read · 13 July 2018
