Fairfax Financial Holdings has closed its acquisition of Toys "R" Us (Canada) Ltd, a Concord, Ontario-based specialty retailer of toys and baby products. The deal is valued at more than $300 million (US$237 million), according to a report by Reuters. Established in 1983, Toys "R" Us Canada and its affiliate Babies "R" Us Canada operate through more than 80 stores located coast to coast. The company's former U.S.-based parent filed for bankruptcy last September and announced its liquidation in March. In April, U.S. and Canadian courts authorized the sale of the domestic business to Fairfax, a Toronto-based holding company led by billionaire Prem Watsa.
4 min read · 01 June 2018
PetalMD Solutions has acquired Xacte, a Québec City-based company specializing in web solutions for medical billing. No financial terms were disclosed. The deal was backed by the Growth and Transition Capital division of BDC Capital as part of its investment in PetalMD's Canadian and European growth strategy. PetalMD, a Québec City-based provider of web and mobile productivity tools to healthcare professionals, said the Xacte buy will add more value to its products. Founded in 2009 by CEO Patrice Gilbert, the company currently serves more than 37,000 physician users in over 150 healthcare institutions and 1,400 hospital departments.
3 min read · 01 June 2018
Sustainable Development Technology Canada (SDTC) has invested $26.3 million in four Western Canadian companies, three of them venture capital-backed. The latter are D-Wave Systems Inc, a Vancouver quantum computing systems developer, which received $10 million; MineSense Technologies Ltd, a Vancouver sensor-based ore data and sorting solutions provider, which received $4 million, and; Ionomr Innovations Inc, a Vancouver maker of advanced ion-exchange membranes, which received $2.3 million. Calgary's MEG Energy Corp also took $10 million to improve oil sands bitumen recovery while reducing emissions and water consumption.
3 min read · 31 May 2018
Trader Corp has acquired DealerBreacher, a Montréal-based digital advertising solutions provider to the automotive industry, for an undisclosed sum. Trader, a Toronto-based digital automotive marketplace and software solutions provider, said the deal will support the company's "future plans focused on speed of innovation" linked to Canadian dealer and consumer needs. Founded in 2015 by Frederic Binette and Benoit Laforce, DealerBreacher will continue to operate independently and under the same leadership team. Trader was acquired in 2016 by U.S. private equity firm Thoma Bravo from U.K. private equity firm Apax Partners. The deal was valued at about $1.57 billion.
3 min read · 31 May 2018
Honest Buildings, a New York-based project management and procurement platform for real estate owners, has increased its Series B financing to US$30 million. The additional investment of US$5 million was led by First Capital Realty Inc, a Canadian owner, developer and manager of grocery-anchored retail urban properties. It joins the company's existing investors. They include Brookfield Property Partners, GreenSoil Building Innovation Fund, Oxford Properties Group, the real estate investment arm of OMERS, and QuadReal Property Group, owned by British Columbia Investment Management Corp.
3 min read · 31 May 2018
Canadian private equity firm Mosaic Capital Corp announced that CEO Mark Gardhouse has assumed the additional role of president. He replaces Harold Kunik, a Mosaic co-founder, who will continue to serve on the board. Gardhouse and George Flemming, president and CEO of oil and industrial services company Plains Environmental Inc, were also appointed directors. Gardhouse joined Mosaic, a Calgary-based investor in established, mid-market Canadian businesses, in mid-2016. His prior private equity career includes leading CA Bancorp and the mid-market buyout group at Roynat Capital.
3 min read · 31 May 2018
Toronto innovation hub MaRS Discovery District has appointed Annette Verschuren as chair of its board of directors, effective today. Verschuren replaces Gord Nixon, who will remain on the board. Verschuren, a Canadian entrepreneur, is currently chair and CEO of NRStor Inc, a Toronto-based clean technology company specializing in energy storage project development. Her previous executive roles include president of The Home Depot Canada and Asia and president and co-owner of Michaels of Canada. Last September, MaRS appointed NFQ Ventures' Yung Wu as its CEO.
3 min read · 31 May 2018
Ecobee Inc has secured an additional $47 million investment led by Caisse de dépôt et placement du Québec, AGL Energy Ltd and Business Development Bank of Canada (BDC). The deal adds to the $80 million Series C financing raised by the company earlier this year, bringing the total to over $127 million. As a result, Ecobee, a Toronto-based developer of a smart Wi-Fi thermostat, has raised total funding of more than $200 million. President and CEO Stuart Lombard said the funds raised will accelerate the company's growth, in part through additions to management, including Jackie Poriadjian-Asch as chief marketing and revenue officer, Scott Cleaver as COO and David Brennan as CFO.
5 min read · 31 May 2018
Fairfax Financial Holdings has agreed to invest an additional US$500 million in Seaspan Corp (NYSE: SSW), a Hong Kong-based provider of container shipping liners. The transaction, which will increase Fairfax's total investment to US$1 billion, will be accomplished through the exercise of 77 million warrants. Seaspan Chairman David Sokol said the deal supports the company's strategy to drive consolidation in the global containership sector and leverage other opportunities in the shipping sector and "beyond it." Fairfax, a Toronto-based holding company, is led by Canadian billionaire Prem Watsa.
5 min read · 31 May 2018
Construction technology provider Katerra has acquired Michael Green Architecture Inc (MGA), a Vancouver-based specialist in architecture designs, including mass timber construction projects. No financial terms were disclosed. Menlo Park-based Katerra said the deal will facilitate "more sustainable, cost effective and elegant architecture options" to North American and global markets. MGA will continue to be run by existing management, led by President and CEO Michael Green, who founded the company in 2012. Venture-backed Katerra earlier this year announced the close of a US$865 million Series D financing led by Japan's SoftBank Vision Fund.
3 min read · 30 May 2018
