Eventbase Technology Inc, a Vancouver-based event technology platform, has raised $6.5 million in follow-on financing. The round, which brings the company’s total funding to about $14.5 million, was backed by existing investor Madrona Venture Group and new investor BC Tech Fund, managed by Kensington Capital Partners. Eventbase said it also recently received additional financing from Silicon Valley Bank and Espresso Capital. Founded in 2009 by CEO Jeff Sinclair and CPO Ben West, Eventbase provides mobile apps for conferences and other events organized by enterprises.
3 min read · 13 July 2018
Eventbase Technology Inc, a Vancouver-based event technology platform, has raised more than $8.5 million (US$6.5 million) in follow-on financing. The round, which brings the company's total funding to about $19 million (US$14.5 million), was backed by existing investor Madrona Venture Group and new investor BC Tech Fund, managed by Kensington Capital Partners. Founded in 2009 by CEO Jeff Sinclair and CPO Ben West, Eventbase provides mobile apps for conferences and other events organized by enterprises. It will use the funds raised to accelerate growth and launch its new event data product, Data Stream.
3 min read · 12 July 2018
Caisse de dépôt et placement du Québec (CDPQ) has provided $150 million to support an acquisition of concentrated solar power (CSP) assets by ContourGlobal plc. ContourGlobal, a U.K.-based owner and operator of power generation businesses, in February agreed to acquire a portfolio of CSP assets from Spanish infrastructure and renewable energy company Acciona SA. The 250-megawatt portfolio consists of five operating assets located in the south-west region of Spain.
2 min read · 12 July 2018
French tire maker Michelin has agreed to acquire Camso Inc, a Magog, Québec-based designer, manufacturer and marketer of off-the-road (OTR) tires and rubber tracks, for US$1.45 billion. Michelin said it will combine its OTR operations with Camso's in a new Québec-headquartered division. The division will be a leader in the global OTR sector, the company added. Camso Executive Chairman Pierre Marcouiller said the deal is backed by all of the company's shareholders. Camso's investors include Caisse de dépôt et placement du Québec. The Caisse listed the company as a top Québec private equity investment in its 2017 annual report.
5 min read · 12 July 2018
3 min read · 12 July 2018
Canada’s venture capital market showed no signs of slowing in Q2. The market’s top 10 second-quarter VC financings raised $562 million from investors. That’s on par with the $561 million drawn by the top 10 deals a year earlier. The estimate is based on PE Hub Canada’s list of the largest rounds announced from April through June, supplemented by Thomson Reuters data. It suggests that VC investment activity this year is continuing to keep pace with the robust trend lines of 2016-2017. In fact, preliminary data point to growth in dollars flowing to technology sectors in the first half of 2018.
3 min read · 12 July 2018
Vision Travel Inc, an affiliate of Direct Travel Inc, has acquired Voyages Cortravco Inc, a Montréal-based international corporate travel management agency specializing in small to medium-sized clients. No financial terms were disclosed. The sellers were President Kit Sawhney and Vice President Sarita Sawhney, who founded Cortravco in 1990. Vision Travel, a Toronto-based travel management business, was acquired last year by Denver, Colorado's Direct Travel, a portfolio company of U.S. private equity firm ABRY Partners.
2 min read · 12 July 2018
Convene, a U.S. technology-enabled meeting, event and workspace provider, has raised US$152 million in a Series D financing, bringing its total funding to US$260 million. ArrowMark Partners led the round. It was joined by new investors, including QuadReal Property Group, the real estate affiliate of British Columbia Investment Management Corp, as well as existing investors, including Brookfield Asset Management. Brookfield co-led New York-based Convene's US$68 million Series C financing, closed last year.
3 min read · 11 July 2018
OMERS Private Equity has wrapped up its acquisition of Premise Health Inc, a Brentwood, Tennessee-based direct healthcare access company. No financial terms were disclosed for the deal, which saw OMERS buy Premise from U.S. private equity firm Water Street Healthcare Partners and Walgreens Boots Alliance. Established in 2014 through a Water Street-led merger, Premise serves more than 275 clients via a network of 600-plus employer-sponsored health and wellness centres in the United States.
4 min read · 11 July 2018
Germany's Jenoptik AG has agreed to acquire Prodomax Automation Ltd, a Barrie, Ontario-based specialized engineering company that designs and builds flexible automation systems for the automotive industry. Terms weren't disclosed for the deal, which is expected to close in the next few weeks. Jenoptik, an operating technology group, said the acquisition will help it tap into new opportunities in advanced manufacturing. The private equity group of Kensington Capital Partners acquired Prodomax in 2015, partnering with management to support growth and facilitate an ownership transition. BDC Capital's growth equity group invested in the same year.
4 min read · 11 July 2018
