The industries group of Canadian private equity firm Novacap has acquired an interest in Noble Foods Nutrition Inc, a Pointe-Claire, Québec-based manufacturer of nutrition and energy bars. No financial terms were disclosed for the deal, which was done with the support of Investissement Québec. Lee Shulkin, Eric Kimmel and Alex Dehkter, who founded the company in 1999, will continue in their current roles and remain shareholders. Antoine Casimir, a Novacap principal, said his firm will help Noble Foods become the "preferred contract manufacturer in North America" by exploring acquisition and strategic opportunities that expand its production capabilities and geographic reach.
3 min read · 20 June 2018
3 min read · 19 June 2018
POTLOC, a Montréal provider of location-based consumer intelligence, has raised $2.5 million in its latest financing. The round was led by Ecofuel Fund, an affiliate of Cycle Capital Management. It was joined by new backers Desjardins Capital and CapHorn Invest, a French venture capital firm, as well as existing backers BDC Capital and Robert Dutton, the former CEO of Rona Inc. POTLOC captures consumer insights with geotargeted campaigns on social networks. Founded in 2014 by Co-CEOs Rodolphe Barrerre and Louis Delaoustre and CTO Jérémy Lagrue, the startup will use the funds raised to expand its team and further develop its technology.
3 min read · 19 June 2018
Vancouver-based enterprise commerce company Elastic Path has secured $43 million in a Series B financing, increasing its total funding to more than $63 million. The round was led by U.S. growth equity firm Sageview Capital and joined by existing Canadian investors Yaletown Partners and BDC Capital's IT Venture Fund. Founded in 2000, Elastic Path provides API-oriented commerce solutions for enterprises. It has so far helped brands generate more than $60 billion in over 170 countries. CEO Harry Chemko said the funds raised will be used for R&D addressing the B2B market and other innovations. Elastic Path is also hiring sales personnel and opening a Toronto office to recruit developers.
4 min read · 19 June 2018
Precision NanoSystems (PNI), a Vancouver-based developer of nanoparticles for use as medicines and in medical research, earlier this month raised about $7.8 million (US$6 million) in a Series B financing. The round was backed by 5AM Ventures, Telegraph Hill Partners and Rising Tide Fund, all of which backed the company's $13.4 million Series A financing in 2015. Founded in 2010 by CEO James Taylor and COO Euan Ramsay, PNI's NanoAssemblr platform enables the rapid, reproducible and scalable manufacture of nanoparticle formulations for the delivery of therapeutic and diagnostic agents to cells and tissues in the body. It will use the funds raised for new product development and global growth.
3 min read · 18 June 2018
Globalive Technology and Flexiti Financial have formed a joint venture (JV) to build and commercialize software utilizing artificial intelligence and blockchain technology. The JV will build an AI platform that analyzes consumer purchase and credit history, as well as blockchain infrastructure for loan funding, merchant supply chain management, and loyalty programs. Flexiti, a Toronto-based point-of-sale financing and payment technology company, this month bought TD Financing Services' private label credit card portfolio with the help of a $50 million investment from Globalive Capital. Globalive Technology went public in May.
3 min read · 18 June 2018
Globalfaces Direct Inc (GFD), a Toronto-based provider of outsourced multi-channel fundraising services to the not-for-profit industry, has closed an investment with Canadian private equity firm CPS Capital. No financial terms were released. Founded in 2012 and led by President and CEO Peter Hwang, GFD operates with more than 600 fundraisers across North America, providing integrated campaigns to acquire long-term monthly donors through face to face, call centre and donor analytics services. CPS Capital's Jeff Tung said his firm will support GFD's organic growth as the company looks to expand its service offerings and presence in North America and abroad.
3 min read · 18 June 2018
Canadian alternative equity firm Alaris Royalty Corp has invested US$15 million in Fleet Advantage LLC, a Fort Lauderdale, Florida-based provider of business analytics, equipment financing and asset lifecycle cost management services to transportation fleets. The deal will give Alaris an annualized distribution of US$2.1 million. It will support Fleet's continued growth and provide partial liquidity to existing shareholders. Alaris also invested US$3 million more in Accscient LLC, an Atlanta, Georgia-based provider of information technology staffing, consulting and outsourcing services. Accscient raised an initial US$20 million last year.
4 min read · 18 June 2018
Canadian private-markets investor Northleaf Capital Partners has opened a new office in Melbourne, Australia. The location will be run by Managing Director Tom Irvine, who joined Northleaf in 2015. The announcement coincides with the close of Northleaf's third infrastructure deal in Australia: the buy of a 40 percent equity interest in Lal Lal Wind Farms, two wind generation projects located near Ballarat, Victoria. Terms weren't disclosed. Northleaf acquired the stake from the project's developer Macquarie Capital. Lal Lal Wind Farms is scheduled to be fully operational by the second half of 2019 and will generate a combined output of 228 megawatts.
3 min read · 18 June 2018
The technology group of Canadian private equity firm Novacap has closed its buy of Horizon Telcom Inc, a Chillicothe, Ohio-based provider of fibre-optic bandwidth infrastructure services. The deal, announced in January, is valued at more than US$220 million, an amount that was not previously disclosed. Founded in 1895 as the Home Telephone Co, Horizon has grown its fibre network to over 4,300 route miles and nearly 550,000 fibre miles. President and CEO Bill McKell said the partnership with Novacap will help the company become the "premier provider of broadband services throughout Ohio and surrounding states."
3 min read · 18 June 2018
