Georgian Partners has raised most of the US$500 million ($645 million) target set for its fourth fund, as the firm executes an ambitious plan to broaden its reach in the North American market. Georgian Partners Growth Fund IV has so far secured US$450 million ($580 million), a source told PE Hub Canada. It is expected to cross the finish line in the weeks ahead, possibly at or near its hard cap of US$550 million. If successful, the fund would be Georgian’s largest to date and one of Canada’s largest private tech partnerships on record.
4 min read · 06 April 2018
Lifting Solutions Inc, an Edmonton-based oilfield services company, has acquired all the Canadian continuous rod service assets of an unidentified multinational operating in the same sector. No financial terms were disclosed. Lifting Solutions, which specializes in artificial lift and production solutions, said the deal increases its fleet size to 320 pieces of equipment, with service units capable of pulling and running continuous rod now standing at 47. It also doubles the company's headcount. Founded in 2014, Lifting Solutions is backed by Canadian energy private equity firm ARC Financial Corp.
3 min read · 06 April 2018
U.S. video telematics provider Lytx Inc has secured US$700 million in financing in a deal that values the business at more than US$1.5 billion. A group of investors participated, including Clearlake Capital Group and Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund manager. They join the company's controlling shareholder GTCR, a U.S. private equity firm. GTCR acquired Lytx in March 2016. Based in San Diego, California, Lytx's video telematics help commercial and public sector fleets improve driver behaviour and reduce collisions and related expenses.
6 min read · 06 April 2018
U.S. private equity firm Lion Equity Partners has acquired the Canadian motor repair business of Siemens Canada Ltd. No financial terms were released for the carve-out deal, which was closed last month by Lion Equity's affiliate, the newly formed NorthPoint Technical Services ULC. NorthPoint provides new motor sales, engineering services and repair services for a range of equipment used in the oil and gas, power generation, mining, pulp and paper, infrastructure, marine and transportation industries. It has eight facilities, including at its Calgary headquarters. Lion Equity Operating Partner Tom Carney said his firm will support NorthPoint's long-term growth strategy.
3 min read · 05 April 2018
WorkFusion, a New York-based robotic process automation software company, has raised US$50 million in a Series E financing, bringing its total funding to US$118 million. The latest round was led by Hawk Equity and Declaration Partners. They were joined by existing investors, including Canadian growth equity firm Georgian Partners, which led the company's US$35 million Series D round last year, and Canadian venture capital firm iNovia Capital. WorkFusion, which reported 850 percent growth in demand for its products in 2017, said it will use the funds raised to expand global operations and further its vision.
3 min read · 05 April 2018
Vision Travel Inc has acquired Uniglobe One Travel, a Vancouver-based corporate travel solutions provider and franchise of Uniglobe Travel International LP. No financial terms were disclosed. Vision, a Toronto-based travel management company affiliated with Direct Travel Inc, said the deal continues its strategy to expand in key Canadian markets. Vision was acquired last year by Direct, a Denver, Colorado-based travel manager backed by U.S. private equity firm ABRY Partners.
2 min read · 05 April 2018
Trescal SA, recently acquired by OMERS Private Equity (OPE), has closed acquisitions of four calibration specialists. The companies acquired are Vale Balanças of Brazil, Aicher Kalibrierdienst of Germany, Atlas Copco's calibration activity in Germany, and Boston-based Massachusetts Metrology. OPE agreed to buy a majority interest in Trescal, a Paris-based provider of calibration services for the test and measuring equipment market, last November. The €670 million (US$787 million) deal closed this week.
2 min read · 05 April 2018
U.S. consumer health enterprise software company Welltok Inc has secured US$75 million in a Series E2 financing. The round saw participation from both new and existing investors, including Canadian growth equity firm Georgian Partners. Denver, Colorado-based Welltok, founded in 2009, said the funds raised will be used for product development, expansion in new market segments, and integration of acquired assets and capabilities. Last October, the company bought Tea Leaves Health, an analytics and marketing platform used by hospital systems.
3 min read · 05 April 2018
Blue Point Capital Partners has acquired and recapitalized Spector & Co, a Montréal-based supplier of writing instruments, journals and other business gifts for promotional uses. No financial terms were released for the deal, which saw Blue Point, a U.S. private equity firm, partner with management. Established in 1950, Spector's customized, branded products are supplied to advertisers and brands mostly through North American promotional product distributors. CEO Rob Spector said the partnership with Blue Point will help his business "pursue the next chapter of growth."
3 min read · 05 April 2018
U.S. wallboard distributor GMS Inc (NYSE: GMS) has agreed to acquire 100 percent of WSB Titan, a Toronto-based gypsum specialty dealer with key products including wallboard, insulation, lumber, roofing, steel framing and other building products. The deal is valued at about $800 million (US$627 million). The seller is Canadian private equity firm TorQuest Partners, which acquired Titan in 2016. Tucker, Georgia-based GMS said the buy will give it a leading position in Canada and the ability to pursue growth opportunities in a fragmented market. With the deal's close, expected in Q2 2018, Titan CEO Doug Skrepnek will become president of GMS Canada.
6 min read · 05 April 2018
