Kirk Falconer

Park Lawn closes $123 mln buy of JMH's Signature Group

Park Lawn Corp (TSX: PLC) has closed its acquisition of Signature Funeral and Cemetery Investments LLC, a Houston-based funeral and cemetery company, for about US$123 million in cash. PLC, a Toronto-based deathcare services provider, said the deal adds 9 cemeteries, 21 funeral homes and 5 crematoria across the United States to its portfolio. Signature Group's Brad Green, PLC's incoming president, said he is expecting further growth opportunities "both internally through integration and externally through acquisitions." Founded in 2011, Signature Group was acquired in 2013 by U.S. private equity firm JMH Capital Partners.

H&F’s Hub International acquires The dElta Group

Hub International Ltd has acquired the shares of Les Avantages Sociaux Delta Inc, operating as The dElta Group, a Montréal-based brokerage that provides support and actuarial services for group insurance and retirement plans, as well as human resources and disability management. No financial terms were disclosed. The dElta Group, founded in 1998 by Chairman Roger d'Eschambault, will join Hub Québec as a result. Hub, a Chicago-based insurance brokerage, was bought by U.S. private equity firm Hellman & Friedman (H&F) for about US$4.4 billion in 2013.

Axium Infrastructure to buy Brooklyn Navy Yard from Ares

Canadian infrastructure investment firm Axium Infrastructure recently agreed to acquire Brooklyn Navy Yard Cogeneration Partners LP, owner of the Brooklyn Navy Yard cogeneration facility located in Brooklyn, New York. No financial terms were released. The seller is a power and energy infrastructure fund affiliated with Ares Management, a U.S. private equity firm. The Brooklyn Navy Yard facility is a 286 megawatt operating project that supplies electricity and steam to New York City. Based in Montréal, Axium has invested, or committed to invest, in a portfolio of more than 100 North American infrastructure assets since 2010.

Lynx Equity acquires B.C.'s Blind Bay Village Grocers

Canadian private equity firm Lynx Equity has acquired Blind Bay Village Grocers, a Blind Bay, British Columbia-based retail destination providing fuel, liquor and groceries. No financial terms were disclosed for the deal, which includes more than 2.5 acres of land on which the 21-year-old store is located. Lynx bought the business from Annette and Colby Woodhead, who will remain with Blind Bay for a transitional period. James Inglis, Doug Nakano and Steve McNair will continue to lead the management team. Last week, Lynx said it acquired U.S. flooring contractor Flooring Solutions Inc.

PE-backed IPL Plastics files to go public in Canada

IPL Plastics plc, a Dublin-based packaging solutions provider, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The offering has not yet been priced; however, the Irish Times earlier reported the company is looking to raise about $200 million (€125 million). IPL, formerly known as One51 plc, three years ago acquired Saint-Damien Québec-based IPL Inc, a maker of injected moulded plastic products, from Novacap for about $280 million. The company has since been backed by Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ.

Golden Ventures raises $57.5 mln for third seed fund

Canadian venture capital firm Golden Ventures has raised $57.5 million in committed capital for its third seed-stage fund, according to a blog post. Golden Ventures III, the firm’s largest fund to date, was backed by a range of new and returning limited partners. They include: Cendana Capital, Foundry Group Next, HarbourVest Partners, Kensington Capital Partners, Northleaf Capital Partners, Teralys Capital and Venture Investment Associates. It will invest in 20 to 25 early-stage technology companies in Canada and the United States. With Fund III’s close, Golden said it promoted Jamie Rosenblatt to principal and hired Marianne Bulger to head the firm’s people and platform team.

Smart traffic platform Miovision wins $15 mln in follow-on VC

Smart traffic intersection technology provider Miovision has secured a $15 million convertible note, which it said is a precursor to a "significantly larger" financing. MacKinnon, Bennett & Co, Miovision's largest shareholder, co-led the note with McRock Capital. BDC Capital and HarbourVest Partners also invested. McRock Managing Partner Whitney Rockley has joined the board as a result. Founded in 2005, Kitchener, Ontario-based Miovision develops traffic intersection solutions that enable real-time adaptive traffic control and infrastructure communication with connected cars, other vehicles and pedestrians. It will use the funds raised to accelerate global growth.

Harte Gold to raise $90 mln debt facility from Sprott, Appian

Toronto-based mining company Harte Gold Corp (TSX: HRT) has agreed to receive a $90 million (US$70 million) debt financing package to support construction of its Sugar Zone Project. Sprott Private Resource Lending, an affiliate of Canadian asset manager Sprott Inc, will contribute US$50 million of senior secured debt to the package, while Appian Natural Resources Fund, a metals and mining private equity fund managed by U.K.-based Appian Capital Advisory, will account for a US$20 million subordinated loan. Harte Gold owns 100 percent of its Sugar Zone gold property, located in White River, Ontario.

Golden Ventures raises $72 mln for third seed fund

Canadian venture capital firm Golden Ventures has raised $72 million in committed capital for its third seed-stage fund. Golden Ventures III, the firm's largest fund to date, was backed by a range of new and returning limited partners. They include: Cendana Capital, Foundry Group Next, HarbourVest Partners, Kensington Capital Partners, Northleaf Capital Partners, Teralys Capital and Venture Investment Associates. It will invest in 20 to 25 early-stage technology companies in Canada and the United States. With Fund III's close, Golden said it promoted Jamie Rosenblatt to principal and hired Marianne Bulger to head the firm's people and platform team.

Avrio Capital leads $13 mln growth funding of Sol Cuisine

Sol Cuisine Inc, a Toronto-based alternative protein brand, has secured $13 million in growth financing led by Avrio Capital, a Canadian food and agriculture technology investor. Export Development Canada (EDC) and Investeco Capital partnered in the deal. Avrio Senior Associate Jonathan Goodkey and an EDC representative will join the board as a result. Sol Cuisine, founded in 1980 by CEO Dror Balshine, caters to retail and restaurant consumers in search of plant-based proteins made on a gourmet vegan, non-GMO, and wheat- and gluten-free basis. Avrio Managing Partner Aki Georgacacos said his firm's investment attests to growth prospects in the protein vertical.