Teranet Inc has agreed to acquire D+H Collateral Management Corp, a search and lien registration services affiliate of U.K. financial technology company Finastra Holdings Inc. No financial terms were released for the deal, which is expected to close next month. Toronto-based Teranet said the buy, which is being undertaken by the affiliated CM Solutions Inc, will expand its commercial and registry business in Canada. Founded in 1991, Teranet has been owned since 2008 by OMERS Infrastructure. Finastra was formed last year with Vista Equity Partners' $4.8 billion acquisition of Toronto financial technology solutions provider DH Corp, and the company's subsequent merger with Misys.
4 min read · 25 June 2018
CoLab Software, a St. John’s, Newfoundland and Labrador cloud-based issue and design management platform, has raised $600,000 in a pre-seed financing. Canadian investors, including Pelorus Venture Capital, Killick Capital and Panache Ventures, backed the round. Founded last year by CEO Adam Keating and CTO Jeremy Andrews, CoLab's technology allows engineering teams to view 3D designs, gather feedback, track issues and manage projects more efficiently in a shared cloud environment. The company will use the funds raised to grow its team in advance of the launch of a full-scale enterprise solution, scheduled for Q1 2019.
2 min read · 25 June 2018
ESI Technologies, a Montréal-based information technology enterprise solutions provider, has secured nearly $10 million from Fondaction, a Canadian private equity and venture capital firm. Founded in 1994, ESI helps businesses manage, protect and transform their data into relevant information by modernizing their IT systems. Led by President and CEO Greg Rokos, the company will use the investment's proceeds for its global growth strategy and to invest in new solutions, including data creation and advanced analytics.
2 min read · 25 June 2018
U.S. private equity firm Inventiv Capital Management has agreed to provide about $132 million (US$100 million) to support the projects of Pond Technologies Inc (TSX.V: POND), the Toronto-based developer of an algae-based emissions abatement solution. The deal will see development of a portfolio of projects implementing the company's technology, to be co-located next to industrial emitters of greenhouse gases, such as power plants and refineries. Founded in 2008 and led by CEO Steve Martin, Pond has previously raised financing from MaRS Investment Accelerator Fund, Pyfera Growth Capital and other investors.
3 min read · 25 June 2018
Canadian healthcare private equity firm DW Healthcare Partners (DWHP) has made an investment in Aequor Healthcare Services, a Piscataway, New Jersey-based healthcare personnel provider that specializes in staffing physicians, therapists, nurses, technologists and related professionals. No financial terms were disclosed. Established in 2001, Aequor provides its services to a range of U.S. hospital systems, nursing homes, home care providers, clinics, schools, laboratories and life sciences organizations. The company is the sixth platform investment of DW Healthcare Partners Fund IV, which raised US$295 million last year.
2 min read · 25 June 2018
Ottawa-based software company Corel Corp has acquired Gravit Designer, a cross-platform, web-based vector graphic design application and the flagship product of Germany's Gravit GmbH. No financial terms were disclosed for the deal, which saw Corel buy all assets previously owned by Gravit. Corel said it plans to accelerate the Gravit product line roadmap, expanding Gravit Designer’s reach to new markets and regions. Founded three years ago, Gravit was backed by German venture capital firm High-Tech Gründerfonds. Corel was taken private in 2003 and 2010 by U.S. private equity firm Vector Capital.
3 min read · 25 June 2018
Canadian private equity firm Lynx Equity has acquired Safe-Tech Training Inc, a Bolton, Ontario-based industrial safety specialist, providing training and certification programs at more than 1,000 client locations in Ontario and elsewhere across North America. No financial terms were disclosed. The company's sellers, CEO Dan Duckoff, who founded Safe-Tech in 1989, and COO Kathy Dukoff, will remain for up to three years to support the transition to new ownership. Safe-Tech is Lynx's fourth deal to date in 2018. Other recent acquisitions include Blind Bay Village Grocers, a Blind Bay, British Columbia-based retail destination.
3 min read · 25 June 2018
Canadian private equity firm Fulcrum Capital Partners has acquired National Logistics Services (NLS), a Toronto-based provider of third-party logistics for the apparel, footwear and action wear markets in North America. No financial terms were disclosed. Established in 1967 and led by President Terry Vukosa, NLS’ services extend to distributed brand retailers and retail chains alike, along with e-commerce and omni-channel solutions. Fulcrum Partner Lindsay Wilson said his firm will support the current management team in continuing to grow the business. NLS is the ninth platform investment of Fulcrum Capital Partners V, which raised $344 million in 2015.
3 min read · 25 June 2018
Canadian private equity firm Banyan Capital Partners has hired Michael Hendrie as a vice president. Hendrie has spent the last eight years working in mid-market private equity investment analysis and execution roles, including as a senior associate at Canadian family office Holcan Investments. Other recent additions to the team include David Beaumont and Lisa Sartor, both as senior analysts. Founded in 1998, Banyan is today an affiliate of Connor, Clark & Lunn Financial Group. The firm's seven portfolio companies include Rack Attack Products Ltd, acquired last September.
3 min read · 22 June 2018
The Government of Nova Scotia plans to commit $15 million to a new venture capital fund that will invest in early-stage technology companies in the province and elsewhere in Atlantic Canada. The new vehicle will be led by Patrick Hankinson, an entrepreneur and investor who co-founded Tether.com and Compilr. According to Entrevestor, Hankinson is expected to raise additional commitments, potentially increasing the fund's capital base to approximately $17.5 million to $20 million. It will operate in tandem with a late-stage fund launched in 2017 with a $15 million commitment. That fund is managed by Canadian venture capital firm Build Ventures.
4 min read · 22 June 2018
