Entertainment One (eOne) has acquired Round Room Entertainment, a New York-based live music production company. No financial terms were released. EOne, a Toronto-based entertainment content studio, said Round Room will join its global family of companies and expand its offering to artists and brands. Stephen Shaw, who founded Round Room in 2016, and Jonathan Linden will lead the affiliate. EOne is backed by Canada Pension Plan Investment Board (CPPIB). CPPIB bought a minority stake in 2015 from Marwyn Investment Management for $290 million.
3 min read · 28 March 2018
Roynat Equity Partners, Fonds de solidarité FTQ and Fonds régionaux de solidarité FTQ have together invested in Groupe Stageline Inc, a L'Assomption, Québec-based designer, maker, distributor and renter of mobile stages. No financial terms were disclosed for the deal, which was also backed by members of senior management. It will support the company's growth initiatives and internal succession from the founder, CEO Yvan Miron. The mobile stages of the 31-year old Stageline are used every year in more than 20,000 events in 48 countries. The Fonds has previously invested in the company, as has Caisse de dépôt et placement du Québec.
5 min read · 28 March 2018
McAfee Inc earlier this month acquired TunnelBear Inc, a Toronto-based virtual private network service provider. No financial terms were disclosed. TunnelBear was founded in 2011 by CEO Ryan Dochuk and CTO Daniel Kaldor. McAfee, a U.S. device-to-cloud cybersecurity company, said the acquisition represents a strategic investment in its consumer business. Last April, U.S. private equity firm TPG Capital acquired a majority stake in McAfee from Intel Corp, a deal that valued the former company at US$4.2 billion. Thoma Bravo joined as a minority investor.
3 min read · 27 March 2018
HIVE Blockchain Technologies Ltd (TSX-V: HIVE) has agreed to buy the issued and outstanding shares of Kolos Norway AS, a Ballangen, Norway-based data centre property powered by renewable energy. The deal, scheduled to close within 60 days, reflects a total consideration of US$9.9 million, 4.75 million common shares and 1.25 million warrants. HIVE, a Vancouver-based developer of blockchain infrastructure, said Kolos will be its flagship data centre project in the years ahead. The company, which also has assets in Iceland and Sweden, last October raised $7 million in a deal with strategic investor Genesis Mining Ltd.
5 min read · 27 March 2018
World Energy LLC, a Boston-based advanced biofuel supplier, has secured US$345 million from an investor group led by CFFI Ventures, the investment affiliate of Canadian family-owned holding company Clearwater Fine Foods Inc. Other investors included the family office of Bob Beamish, founder of Canadian foam products maker Woodbridge Group, and Tim Haig, founder of Canadian biodiesel fuel producer Biox Corp. With the deal, World Energy merged with Hamilton, Ontario's Biox, which was taken private by CFFI last September. Between 2006 and 2016, Biox was a portfolio company of Birch Hill Equity Partners.
3 min read · 26 March 2018
U.S. private equity firm Hammond, Kennedy, Whitney & Co (HKW) has exited Specialized Desanders Inc (SDI), a Calgary-based oilfield equipment company specializing in sand management solutions. The exit resulted from the previously announced investment in SDI by Morgan Stanley Energy Partners. No financial terms were released. HKW, which first invested in SDI in 2013, supported the company in "numerous initiatives," CEO Chris Hemstock said, including expanding it internationally.
2 min read · 26 March 2018
AppRiver LLC has acquired Roaring Penguin Software Inc, an Ottawa-based provider of anti-spam and anti-virus e-mail filtering software products. No financial terms were disclosed. Roaring Penguin was founded in 1999 by CEO Dianne Skoll and Vice President Marketing and Sales Bill White. AppRiver, a Gulf Breeze, Florida-based provider of cloud cybersecurity and productivity software and services, said the deal will increase its footprint in Canada, add to its global customer base, and enhance its technology platform. AppRiver was acquired last October by U.S. private equity firm Marlin Equity Partners.
4 min read · 26 March 2018
Ceridian HCM Holding Inc, a U.S. human resources software and service solutions provider, has filed with the U.S. Securities and Exchange Commission for an initial public offering of its common stock. The company, which intends to list on both the New York Stock Exchange and Toronto Stock Exchange, did not disclose the IPO's pricing; however, the Globe and Mail reported Ceridian is seeking US$200 million. Minneapolis, Minnesota-based Ceridian is led by David Ossip, a Canadian entrepreneur. The company was acquired in 2007 for US$5.3 billion by Thomas H. Lee Partners and Fidelity National Financial.
2 min read · 26 March 2018
Ottawa-based mining company Orezone Gold Corp (TSX-V: ORE) has launched a private offering of common shares intended to raise about $44.9 million. Resource Capital Funds (RCF), a U.S. mining private equity firm, has agreed to invest, as has Coris Capital SA, a Mauritius investment firm. With the deal's close, scheduled for early April, RCF will own about 19.99 percent of the company's issued and outstanding shares and have the right to nominate two board members. Orezone said it will use the proceeds to develop its 90 percent-owned Bomboré Gold Project located in West Africa's Burkina Faso, and other priorities.
5 min read · 26 March 2018
Canadian private equity firm Catalyst Capital Group has made a statement disputing a recent Reuters article that discussed the firm's investments and track record. Catalyst said it was "singularly disappointed" with Reuters and noted that the actions of reporters reflected an "intentional disregard of the facts." Catalyst said Reuters has proven to be "unobservant to the nature of private equity" and the firm's achievements in "rebuilding broken companies and making them leading players in their sector." Catalyst cited several examples, including Gateway Casinos & Entertainment Ltd, which has "already returned over $300 million to shareholders."
3 min read · 26 March 2018
