Canadian private equity firm Onex Corp has hired Sam Camens as a managing director responsible for health and benefits (H&B). Operating from New York, Camens will work with the investor's North American portfolio companies to drive enhanced outcomes for employee health and benefits programs. He will also support related due diligence activity. Camens joins Onex from Alterity Group, where he served as a managing director, advising private equity firms and their portfolio companies about overseeing health and benefits.
3 min read · 19 April 2018
Inocucor Corp, a developer of biological inputs for high-value produce and row crops, has raised an additional $20 million (US$15.9 million) for its Series B financing. The final tranche, which brings the round to about $68.6 million (US$54.4 million) in total, was backed by existing investors Cycle Capital Management, Desjardins Innovatech, TPG ART and Pontifax AgTech. Concurrently, Pontifax AgTech's Ben Belldegrun has joined the board. Founded in 2007 in Montréal, Inocucor is preparing to occupy its U.S. headquarters. Earlier this week, the company announced its buy of ATP Nutrition, a Canadian plant nutrients supplier.
3 min read · 19 April 2018
Canadian private equity firm TriWest Capital Partners has invested in HPC Energy Services Ltd, a Calgary-based oil and gas product and service company. No financial terms were disclosed for the deal, which saw TriWest partner with HPC's management team, led by President and CEO Tyler Armstrong, and existing shareholders. Founded in 1998, HPC designs, develops, makes and sells primary cell and battery pack technology solutions that support drilling activity. TriWest Senior Managing Director Jeff Belford said the company is positioned to broaden its offering to enhance market share as well as explore opportunities to enter new markets outside the energy space.
3 min read · 19 April 2018
West Face Capital welcomed the dismissal of a second lawsuit alleging the firm misused confidential information when purchasing a stake in Canadian wireless company Wind Mobile Corp in 2014 as part of a $300 million deal. The $1.3 billion lawsuit, launched by Catalyst Capital Group, was dismissed by an Ontario judge, who called it an “an abuse of process,” the Globe and Mail reported. West Face CEO and Co-CIO Greg Boland said the decision "is yet another independent confirmation of lack of merit to the serial litigation being pursued by Catalyst against West Face for almost four years."
3 min read · 18 April 2018
Canadian energy private equity firm Resource Merchant Capital (RMC) has supplied convertible debenture financing to Snubco Group Inc, a Nisku, Alberta-based provider of pressure control services to the oil and gas industry. No financial terms were disclosed. Founded in 1996, Snubco provides snubbing, well servicing, well control and freeze-hot tapping services to customers in Canada, Europe, the Middle East and North Africa. John Taskinen, Snubco’s president and majority shareholder, said the funds raised will support his company's growth initiatives, including the manufacture of a thermal heavy oil rod-stripping unit.
3 min read · 18 April 2018
Caisse de dépôt et placement du Québec has made an undisclosed investment in Metro Supply Chain Group (Metro SCG), a Montréal-based provider of third-party logistics services and supply chain solutions in North America and Europe. Established in 1974 by CEO Chiko Nanji, Metro SCG serves customers with a presence in the consumer-packaged goods, retail, automotive, fashion and e-commerce industries. It will use the partnership with the Caisse to pursue growth, notably through business acquisitions. Last year, Canadian private equity firm Novacap sold its interest in Metro SCG to LDC Logistics Holdings Inc, an existing shareholder.
3 min read · 18 April 2018
An affiliate of Canadian private equity firm Equicapita has acquired Smitty's Canada, a Calgary-based family restaurant chain. No financial terms were released for the deal, which closed earlier this month. Founded in 1960 by Walter Chan, Smitty's has 85 franchise and corporate locations across Canada. Recently led by President Chris Chan, the company will in the future be managed by Steven Fee as president and Eric Metzler as CFO. Equicapita is focused on acquiring private Canadian businesses with enterprise values of $5 million to $50 million-plus. Smitty's is the Calgary firm's seventh portfolio investment.
3 min read · 18 April 2018
Sotera Health LLC has agreed to sell the medical isotopes unit of its Nordion business to BWX Technologies Inc (BWXT), a U.S. supplier of nuclear components and fuel. No financial terms were disclosed for the deal, which includes Nordion's radiochemical operation and contract manufacturing services in Ottawa and the medical isotope operation in Vancouver. As a result, Nordion, bought in 2014 by Sotera for US$826 million, will focus on growing its gamma technologies division. Sotera, a Broadview Heights, Ohio-based contract sterilization company, is owned by U.S. private equity firms Warburg Pincus and GTCR.
3 min read · 18 April 2018
Inocucor Corp has acquired ATP Nutrition, a supplier of science-based plant nutrients located in Oak Bluff, Manitoba. No financial terms were disclosed. Inocucor, a Canadian developer and producer of biological crop inputs, said the deal will help spawn a suite of all-in-one crop treatments to maximize yields in broadacre crops. It will also support profitability in the near term. Founded in 2007 in Montréal, Inocucor earlier this year closed a $50.9 million Series B financing backed by new and existing investors, including TPG ART and Pontifax AgTech. In May, the company will occupy its new U.S. headquarters and commercialization office in Centennial, Colorado.
4 min read · 17 April 2018
XpertSea, a Québec City-based developer of aquaculture technologies, has secured $10 million in a Series A financing. The round was led by Obvious Ventures and Aqua-Spark, as well as Real Ventures, which contributed to the company's seed funding. Launched in 2012, XpertSea uses artificial intelligence, computer vision and machine learning to help hatcheries, farms and research centres track and manage aquatic populations with greater speed, accuracy and insight. Led by CEO Valérie Robitaille, the company plans to use the proceeds of the Series A to expand its technology offerings and further build its team. XpertSea's other backers include edō Capital.
4 min read · 17 April 2018
