HOOPP Capital Partners (HCP) has made a minority investment in Chobani, a Norwich, New York-based Greek Yogurt brand. No financial terms were disclosed for the deal, which resulted in the exit of U.S. private equity firm TPG, which invested US$750 million in the company in 2014. HCP, the private capital arm of the Healthcare of Ontario Pension Plan (HOOPP), will take a seat on Chobani's board. Managing Partner Jim Walker said HCP will support the company in its next phase of global growth. Established in 2005, Chobani accounts for a close to 20 percent share of the U.S. yogurt market, according to Nielsen.
4 min read · 28 June 2018
Dumur Industries has acquired the assets of Dellcom Aerospace Inc, a Concord, Ontario-based precision machining and sub-assembly provider to original equipment manufacturers and aerospace customers. No financial terms were released. Dumur, a White City, Saskatchewan-based precision metal fabrication and machining business, said the deal strengthens its service offering to primary customers in the aerospace and defence sectors. Dumur, founded in 1987, is backed by Ironbridge Equity Partners, a Canadian mid-market private equity firm. Ironbridge invested in the company in 2015, when it acquired the affiliated Advance Engineered Products Ltd.
2 min read · 28 June 2018
OMERS Private Equity (OPE) has made an investment in Premise Health Inc, a Brentwood, Tennessee-based direct health care access company. No financial terms were disclosed. The seller is U.S. private equity firm Water Street Healthcare Partners. Water Street established Premise in 2014 when it merged Take Care Employer Solutions, a Walgreen Co subsidiary, with CHS Health Services. Premise today oversees more than 600 employer-sponsored health and wellness centres in 44 U.S. states, Guam and Puerto Rico. OPE is the private equity arm of the Ontario Municipal Employees Retirement System (OMERS).
4 min read · 28 June 2018
Darin Brock has been named board chair of the Association for Corporate Growth Toronto (ACG), a Canadian private equity and M&A industry association. Brock, who has been an ACG board member for nine years, leads business development at Canadian private equity firm TorQuest Partners. Before joining TorQuest in 2006, he was the manager of business development at U.S. private equity firm Platinum Equity. Founded in 1971, ACG Toronto is the 3rd longest operating chapter in the global ACG network. The chapter's day-to-day operations are overseen by President and CEO Mike Fenton, who joined ACG Toronto in 2015.
3 min read · 27 June 2018
Tricon Capital Group has entered into a joint venture agreement to create a portfolio of single-family rental homes to be acquired and managed by its U.S. affiliate Tricon American Homes (TAH). The initiative will be capitalized with equity of $750 million, enabling buys of about 10,000 to 12,000 rental homes with an expected value of about $2 billion. Tricon, a Canadian real estate private equity firm, said it is partnering with a sovereign wealth fund and U.S. state pension plan. Acquisitions by TAH, which will be mostly located in the U.S. Sun Belt, are expected to grow its residential properties to as much as 30,000 over the next three years.
4 min read · 27 June 2018
Canadian alternative equity firm Alaris Royalty Corp has wrapped up its repurchase of units in Labstat International ULC, a Kitchener, Ontario-based analytical laboratory specializing in testing of nicotine-containing products. The repurchase and repayment of debt owed to Alaris by the company resulted from Labstat's sale this week to U.S. private equity firm Warburg Pincus. No financial terms were released. Alaris, which originally invested in 2012, said it received proceeds of $69.5 million with the exit, a total return on its Labstat units of about $57 million, and an internal rate of return of about 19 percent. Founded in 1976 by Executive Chairman William Rickert, Labstat was before 2012 backed by Huron Capital.
3 min read · 27 June 2018
The federal government's Venture Capital Catalyst Initiative (VCCI) has completed its first round of investments, backing five funds-of-funds managers. They include managers backed by VCCI’s predecessor, the Venture Capital Action Plan. They are: HarbourVest Partners, Kensington Capital Partners, Northleaf Capital Partners and Teralys Capital. U.S.-based manager Hamilton Lane also secured a commitment. Funds-of-funds commitments, totalling $350 million of VCCI's $400 million pool, mark the program's Stream 1, which focuses on capitalizing Canadian venture capital funds, including those investing in late-stage opportunities. Stream 2 will commit $50 million to key market gaps.
5 min read · 26 June 2018
Atomic Reach, an artificial intelligence-based content optimization platform, has closed a $3.4 million bridge financing. The company's existing backers, angel investors and Fidelity Investments Canada ULC joined the round. Founded in 2012 by CEO Bradley Silver, Atomic Reach gives marketers and advertisers insights and tools to improve the performance of their content marketing, communications and digital programs. The Toronto-based company, which has previously raising funding from Genwealth Ventures and MaRS Investment Accelerator Fund, will use the bridge round's proceeds to accelerate growth, innovate, and to expand strategic partnerships and market reach.
3 min read · 26 June 2018
Ontario Teachers' Pension Plan has appointed Ziad Hindo as CIO, effective immediately. Hindo, who joined Ontario Teachers' in 2000 and previously led its capital markets division, replaces Bjarne Graven Larsen, who resigned earlier in 2018 after serving as CIO for two years. In the new job, Hindo will oversee the investments division and the overall portfolio. Ontario Teachers' also promoted Jo Taylor to the newly-created role of executive managing director, global development. Taylor previously ran the pension fund's global investment operations out of London and Hong Kong.
2 min read · 26 June 2018
Fonds de solidarité FTQ and Fonds régionaux de solidarité FTQ have invested $70 million in EBI, a Berthierville, Québec-based waste management and renewable energy production company. Founded in 1960, the family-owned EBI collects, transports, manages, processes and disposes of material from the municipal, industrial, commercial and institutional sectors. It is also engaged in the use and distribution of natural gas in Québec's transportation industry. Led by President and CEO Pierre Sylvestre, the company plans to expand across the Americas and around the world.
4 min read · 26 June 2018
