Artis Exploration Ltd, a Calgary-based oil and gas exploration and production company, has closed a $180 million growth investment with U.S. private equity firm Warburg Pincus. As a result, Warburg joins existing Canadian private equity investors in the company: Annapolis Capital, Lex Capital and 32 Degrees Capital. Founded in 2015 and led by President and CEO Darryl Metcalfe, Artis is focused on the Duvernay East Shale Basin of Western Canada, where it holds a contiguous acreage position of more than 260,000 net acres. Warburg Managing Director David Krieger said his firm sees "many compelling opportunities for future growth and development" in the Alberta basin.
4 min read · 29 May 2018
Vancouver-based lumber products manufacturer Conifex Timber Inc (TSX: CFF) has launched an offering of subscription receipts intended to generate about $65 million to $72 million (US$50 million to US$55 million). The proceeds will be used to help finance the company's acquisition of BW Group, which holds interests in the Suwannee sawmill in Cross City, Florida and the Caddo River sawmill in Glenwood, Arkansas. The $258 million cash-and-stock deal, announced earlier this month, will see BW Group's majority owner, Blue Wolf Capital Partners, become an investor in Conifex.
3 min read · 28 May 2018
Clarius Mobile Health Inc, a Burnaby, British Columbia-based developer of ultrasound scanners, has raised $6.3 million in financing. PenderFund Capital Management's mid-stage technology fund led the round and was joined by Export Development Canada (EDC) and others. As a result, Pender's Maria Pacella has joined the board. Launched in 2014, Clarius makes handheld scanners that can connect to devices for portable, wireless ultrasound imaging. It will use the funds raised to support growth, sales and marketing, and product development. As reported by Buyouts, Clarius is the debut deal of Pender Technology Inflection Fund I, launched earlier this year.
3 min read · 28 May 2018
U.S. private equity firm ESW Capital has acquired ResponseTek Networks Corp, a Vancouver-based provider of enterprise customer experience management (CEM) software solutions. No financial terms were disclosed. Founded in 1999, ResponseTek today operates in more than 30 countries in North America, Europe, Oceania and Asia. It has been backed by BDC Capital, Beedie Capital Partners, GrowthWorks and MMV Capital Partners, raising its most recent disclosed financing in 2014. ResponseTek joins ESW Capital's family of more than 75 enterprise software companies and will be led by CEO Kyle Ford, an executive with ESW Capital.
2 min read · 28 May 2018
U.S. private equity firm Wincove Private Holdings earlier in May recapitalized Nordock Inc, a Bowmanville, Ontario-based maker and distributor of a full line of loading dock, safety and lift equipment. No financial terms were released. Wincove said Nordock will join U.S.-based Bluff Manufacturing Inc and Wesco Industrial Products Inc to form a platform serving the material handling and warehouse safety products market. Nordock will continue to be led by its current management team, headed by President and CEO Denis Gleason, which founded the company in 2001. Wincove acquired Wesco and joined it with Bluff in January.
3 min read · 28 May 2018
PepsiCo Inc (Nasdaq: PEP) has agreed to acquire Bare Foods Co, which does business as Bare Snacks, a U.S. maker of baked fruit and vegetable snacks. No financial terms were disclosed. Founded in 2001, San Francisco-based Bare Snacks offers a range of real fruit baked snacks, such as crunchy apple chips, coconut chips and banana chips. Pepsi said the deal will expand nutritional options in its snacking portfolio. Bare Snacks is backed by Canadian venture capital firm Avrio Capital and U.S. firms NGEN Partners and Silas Capital, all of which invested in the company's US$$9.25 million financing in 2013.
4 min read · 25 May 2018
Globalive Technology Partners (GTP) has acquired a 51 percent stake in the software development arm of Business Instincts Group (BIG), a Calgary venture creation firm led by CEO Cameron Chell. No financial terms were released for the deal, which launches a joint venture called Globalive BIGDEV, a blockchain and machine learning software development and commercialization shop. It has six projects in development, five focused on blockchain and one on artificial intelligence. GTP, unveiled in January by Globalive Capital and the founders of Mundo Inc and VRG Capital, earlier this week announced its going public transaction and $30 million financing.
3 min read · 25 May 2018
3 min read · 25 May 2018
3 min read · 25 May 2018
Blackstone Property Partners (BPP) and Ivanhoé Cambridge have closed their acquisition of Pure Industrial Real Estate Trust (TSX: AAR.UN), a Vancouver-based owner and operator of industrial properties. The all-cash transaction, announced in January, is valued at $3.8 billion, including debt. It gives BPP and Ivanhoé ownership of 62 percent and 38 percent of the business respectively. Pure, which holds 168 properties across North America, will cease trading on the Toronto Stock Exchange today. BPP and Ivanhoé are respectively the real estate investment arms of Blackstone Group and Caisse de dépôt et placement du Québec.
3 min read · 25 May 2018
