Calgary-based oil and gas company Strath Resources Ltd has agreed to acquire energy assets held by Paramount Resources Ltd (TSX: POU) in the Resthaven/Jayar area of Alberta's Kakwa region. The assets, which consist of oil and gas properties and related infrastructure, are being sold for $340 million. Strath will pay $170 million in cash, funded entirely by its majority investor, Canadian energy private equity firm Waterous Energy Fund. The rest will be paid in common shares. With the deal's closing, expected in July, Paramount, a Calgary-based liquids-focused energy company, will own a 15.6 percent interest in Strath. Founded last year, Strath is led by President and CEO Steve Fagan.
3 min read · 15 June 2018
TouchBistro, a Toronto-based restaurant point-of-sale software provider, is nearing the close of new financing of more than $70 million, according to a report by the Globe and Mail. The round is being led by OMERS Ventures and U.S. financial institution JP Morgan Chase & Co, the report said. Napier Park Financial Partners, Recruit Holdings Co Ltd, Relay Ventures and BDC Capital, all existing investors, are also participating. TouchBistro, founded in 2010 by CEO Alex Barrotti and COO Geordie Konrad, has provided its technology to more than 12,000 restaurants in over 100 countries. Its last financing, a $16.3 million Series C round, closed last year.
1 min read · 14 June 2018
CVC Capital Partners has agreed to sell its interest in the Delachaux Group, a French industrial and manufacturing company focused on rail infrastructure, energy and data management systems, and chronium metal. The buyers are Caisse de dépôt et placement du Québec and the Delachaux family. No financial terms were disclosed. CVC, a European private equity firm, took Delachaux Group private in 2011 in partnership with the founding family. The company’s sale will result in the suspension of a planned initial public offering, initiated in May 2018, and consolidate the Delachaux family’s majority ownership. Delachaux Group was established in 1902.
4 min read · 14 June 2018
Fredericton-based energy storage startup Stash Energy has raised $500,000 in financing. Existing backer New Brunswick Innovation Foundation (NBIF) invested $250,000 in the round, with Island Capital Partners (ICP) accounting for the rest. Founded in 2016, Stash Energy’s storage system works with conventional residential heat pumps to thermally store energy for later use, which prevents usage during peak times. The proceeds of the round will used for the company's M1 comfort system, the second generation of an initial system, which is scheduled to launch in early 2019.
3 min read · 14 June 2018
StellarAlgo, a Calgary-based sports and entertainment data analytics company, has raised $1 million in financing. The investors included Accelerate Fund II, an angel co-investment fund managed by Yaletown Partners, and several angels, including James Lochrie. Founded in 2016 by CEO Vincent Ircandia, StellarAlgo's platform helps sports franchises to organize, analyze and leverage the business and fan data they collect. It offers the same capabilities to live audience and entertainment groups. StellarAlgo will use the funds raised to scale its sales and growth strategy, expand its customer base, and broaden its analytics offerings.
3 min read · 14 June 2018
The board of directors of Calgary-based oil and gas company Iron Bridge Resources Inc (TSX: IBR) has urged shareholders to reject an unsolicited acquisition offer from Velvet Energy Ltd. Last month, Velvet proposed to acquire all of Iron Bridge's issued and outstanding common shares in a deal that values the company at about $120 million. Iron Bridge said shareholders owning about 36 percent of shares will not support the offer, which will transfer "substantial upside" from Montney Oil play assets to Velvet. Calgary's Velvet is backed by Warburg Pincus, Trilantic Capital Partners, 1901 Partners Management and Canada Pension Plan Investment Board.
10 min read · 14 June 2018
CVC Capital Partners has agreed to sell its interest in the Delachaux Group, a French industrial and manufacturing company focused on rail infrastructure, energy and data management systems, and chronium metal. The buyers are Caisse de dépôt et placement du Québec and the Delachaux family. No financial terms were disclosed. CVC, a European private equity firm, took Delachaux Group private in 2011 in partnership with the founding family. The company's sale will result in the suspension of a planned initial public offering, initiated in May 2018, and consolidate the Delachaux family's majority ownership. Delachaux Group was established in 1902.
4 min read · 14 June 2018
GoJava, a Toronto-based provider of sustainable coffee services, has secured $500,000 in a growth financing. The round was led by Canadian real estate and venture capital firm Crux Capital Corp. Launched in 2015, GoJava provides a recycling solution for used coffee pods and other waste as well as related services to workplaces. It reports diverting more than one million coffee pods and 80,000 pounds of waste from landfill. The company, led by President Eugene Ace, one of GoJava's co-founders, is currently focused on scaling its presence in Ontario before further expansion into the rest of Canada.
3 min read · 13 June 2018
Canadian Innovation Exchange (CIX) has named Ecobee its 2018 “Innovator of the Year”. Toronto's Ecobee is the developer of a smart Wi-Fi thermostat that has won more than a third of the smart thermostat market and shown over 100 percent year-over-year growth since its founding in 2007. Earlier this year, the company closed a $127 million Series C financing, which brought its total venture capital funding to date to more than $200 million. President and CEO Stuart Lombard will accept the award and tell his company's story as the opening keynote speaker at CIX's Toronto conference on October 22.
4 min read · 13 June 2018
CentriLogic, a Toronto-based provider of managed information technology solutions, has secured an investment from TriSpan Opportunities Fund, managed by U.K. private equity firm TriSpan, and Long Point Capital, a U.S. private equity firm. No financial terms were released. Established in 2007 and led by President and CEO Robert Offley, CentriLogic provides end-to-end managed hosting, private network, and application management solutions to mid- and large-sized enterprises. The partnership with TriSpan and Long Point is intended to support the company's global growth both organically and through acquisitions.
3 min read · 13 June 2018
