IPL Plastics Inc, a Montréal-based packaging solutions provider, has finalized the pricing of its proposed initial public offering of common shares in Canada. The company plans to sell shares at $13.50 per unit, generating proceeds of $178.2 million or as much as $204.9 million if the issue's greenshoe option is exercised in full. The IPO is expected to close on June 28, when shares will begin trading on the Toronto Stock Exchange under the symbol IPLP. IPL Plastics has been backed by Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ since 2015. As reported by PE Hub Canada earlier this month, CDPQ and the Fonds will continue to hold stakes with the IPO's close.
3 min read · 22 June 2018
Sky Aviation Leasing International LP has agreed to sell its Irish affiliate, Sky Aviation Leasing International Ltd (SALI) to Goshawk Aviation Ltd, a Dublin, Ireland-based aircraft leasing company owned by Chow Tai Fook Enterprises Ltd and NWS Holdings Ltd. The deal's financial terms were not released; however, SALI is valued at about US$3 billion. SKY Leasing, an aircraft leasing platform, was launched in 2015 with more than US$250 million in funding from Canada's Public Sector Pension Investment Board (PSP Investments) and U.S. private equity firm ATL Partners. PSP and ATL will continue to own the U.S.-based aircraft servicing operation.
4 min read · 22 June 2018
Caisse de dépôt et placement du Québec has invested $50 million in Pomerleau Inc, a Saint-Georges, Québec-based construction company specializing mainly in the building, infrastructure, civil engineering and renewable energy sectors. The deal, which gives the Caisse a minority interest, will support the company's strategic growth plan in the coming years. It will also allow Pomerleau to innovate and leverage new technologies that draw on building information modelling, virtual reality, robotics and artificial intelligence. Founded in 1966 and led by President and CEO Pierre Pomerleau, the company has more than 150 work sites across Canada.
3 min read · 21 June 2018
Kingsey Falls, Québec-based renewable energy company Boralex Inc (TSX: BLX) has agreed to acquire interests in five Québec wind farms with a total net installed capacity of 201 megawatts. Boralex will pay $215 million in cash for the stakes to Invenergy Renewables LLC, an affiliate of Chicago-based Invenergy LLC. The deal will see Boralex increase its net installed capacity to 1,820 megawatts. It plans to fund the buy through a $180 million public offering and a $45 million private placement with Caisse de dépôt et placement du Québec, an existing Boralex shareholder. The Caisse also backs Invenergy, agreeing in May to increase its interest in the company to 52.4 percent.
10 min read · 21 June 2018
Toronto-based mining company Dalradian Resources Inc (TSX: DNA) has agreed to be acquired by Orion Mine Finance, a U.S. mining private equity firm and existing investor. The buy, which values Dalradian’s equity at about $537 million, will see certain shareholders receive $1.47 in cash for each share held. The shares held by certain other investors, including senior management and Osisko Gold Royalties Ltd, will not be acquired. The deal, which reportedly has the support of top shareholder M&G Investment Management, is expected to close in Q3 2018. Dalradian, led by President and CEO Patrick Anderson, is currently developing its Curraghinalt Gold Project in Northern Ireland.
8 min read · 21 June 2018
Globalive Technology has acquired a call option to buy Globalive Capital (GC)'s control position in Flexiti Financial, a Toronto-based point-of-sale financing and payment technology company. The deal is linked to a joint venture between Globalive Technology and Flexiti, announced this week, to build and commercialize software utilizing artificial intelligence and blockchain technology for the consumer loans market. Earlier this month, GC acquired control of Flexiti as a result of a $50 million investment backing the company's buy of TD Financing Services' private label credit card portfolio. GC also controls Globalive Technology.
4 min read · 21 June 2018
Toronto-based restaurant point-of-sale software provider TouchBistro has closed a C$72 million Series D financing. The round, which brings the company’s total funding to date to C$117 million, was led by OMERS Ventures and JPMorgan Chase. They were joined by Napier Park Financial Partners, Recruit Holdings Co Ltd, BDC Capital‘s IT Venture Fund and Relay Ventures, all of which backed last year’s C$16.3 million Series C financing. With the Series D, OMERS Ventures Managing Partner Damien Steel will join the board.
3 min read · 21 June 2018
Andrew Sider has joined Canadian early-stage venture capital firm Real Ventures as an entrepreneur-in-residence. He will operate from the firm's Toronto office. Sider has in recent years served in a number of senior entrepreneurial roles, mostly recently as CEO of VarageSale, a buy-and-sell website and mobile app backed by Real and sold last year to VerticalScope. Before then, he was co-founder and CEO of Bunch, a discussion app for interest-based groups, also backed by Real and sold to VarageSale in 2014. Last November, Montréal-based Real closed its fourth early-stage fund, raising $180 million.
3 min read · 21 June 2018
Toronto-based restaurant point-of-sale software provider TouchBistro has closed a $72 million Series D financing. The round, which brings the company's total funding to date to $117 million, was led by OMERS Ventures and JPMorgan Chase. They were joined by Napier Park Financial Partners, Recruit Holdings Co Ltd, BDC Capital's IT Venture Fund and Relay Ventures, all of which backed last year's $16.3 million Series C financing. TouchBistro, founded in 2010 by CEO Alex Barrotti and COO Geordie Konrad, processes over US$6 billion in global restaurant transactions annually. The funds raised will be used for developing a new operating system and payment solutions, market growth, and new hires.
4 min read · 21 June 2018
Export Development Canada (EDC) has invested $7 million in Hortau, a Lévis, Québec-based precision agriculture business. Founded in 2002 by CEO Jocelyn Boudreau and Jean Caron, Hortau's technology allows growers to detect crop stress, optimize growth, and reduce water use, energy and environmental impact. It said the latest funds raised will help the company reach more customers. Hortau, which raised $5.9 million from Sustainable Development Technology Canada in January, is also backed by Advantage Capital Partners, Avrio Capital, BDC Capital, Capital régional et coopératif Desjardins and Telesystem.
3 min read · 20 June 2018
