Agrisolutions has bought Trinity Logistics Corp, a U.S. provider of fasteners and other components to producers of machinery for the agricultural and construction end markets. Terms weren't disclosed. Agrisolutions, an agricultural wear components maker affiliated with Venanpri Group, said the buy will give its customers efficient inventory management and timely sourcing throughout the supply chain. Hamilton, Ontario-based Venanpri, which also has a hand tools unit, in 2015 secured a minority investment from ONCAP, the mid-market arm of Canadian private equity firm Onex Corp. The company was then called Ingersoll Tillage Group Inc.
3 min read · 26 March 2018
U.S. private equity firm LaSalle Capital has sold United American Security (UAS), a Raleigh, North Carolina-based provider of security guard services in the United States, to Canada's Garda World Security Corp. No financial terms were disclosed. LaSalle initially invested in UAS in 2010. UAS CEO Stephen Levine will continue to lead the business as a subsidiary of Garda World, a Montréal-based security services provider. Garda World was acquired last year by U.S. private equity firm Rhône Capital in partnership with Stephan Crétier, the company's founder, chairman and CEO.
2 min read · 26 March 2018
Vancouver-based home-improvement technology provider BuildDirect has raised about $55 million (US$43 million), about $36 million of which is new with the rest converted from interim financing obtained during the company's recent creditor protection. Mohr Davidow Ventures led the round. It was joined by new and existing investors, including Fidelity Investments Canada, Pelecanus Investments, Lyra Growth Partners and Beedie Capital. The fundraising, which wraps up BuildDirect's restructuring, and the company's exit from creditor protection this month, leave a "newly energized and well capitalized business poised for success," CEO Dan Park said.
4 min read · 26 March 2018
3 min read · 23 March 2018
Cargill Inc has agreed to sell grain and crop inputs retail assets in Ontario to La Coop fédérée. No financial terms were disclosed for the sale, which includes 13 grain and crop inputs retail assets and Cargill's 50 percent stake in South West Ag Partners, which includes nine facilities. The deal is expected to close in Q2 2018. La Coop fédérée, an agri-food enterprise and collective, said the buy will complement its existing Ontario operations. Last year, the Montréal-based company raised a $200 million investment from National Bank of Canada, Fonds de solidarité FTQ, Fondaction CSN and Capital régional et coopératif Desjardins.
4 min read · 23 March 2018
Moncton, New Brunswick-based gaming economics startup Itavio has secured undisclosed financing from New Brunswick Innovation Foundation (NBIF), an existing investor. The company also announced it has taken New York office space with HearstLabs, an accelerator and Itavio investor. Founded in 2014 by CEO Melani Flanagan and CTO Matt Pichette, Itavio's technology connects parents, kids and their gaming devices while helping gaming companies grow revenue and retain players. It will use the funds raised from NBIF to expand sales and marketing and enhance the platform.
4 min read · 23 March 2018
Montréal-based biotechnology startup SemaThera Inc has raised about $2.6 million (US$2 million) in its latest financing. The round was backed by Japan's Senju Pharmaceutical Co Ltd and Canadian life sciences seed-stage investor AmorChem, which spun out and funded SemaThera last year. The proceeds will be used to prepare the company's lead drug, ST-102, for clinical trials as an intravitreal injection in diabetic macular edema. SemaThera also struck a licensing deal with Senju to develop and market ST-102 in China and Japan. In December, AmorChem launched its second fund at an initial capitalization of $44.2 million.
3 min read · 23 March 2018
Calgary-based energy infrastructure company Wolf Midstream Inc has closed its acquisition of MEG Energy Corp's 50 percent interest in Access Pipeline and 100 percent interest in the Stonefell Terminal. The deal, announced in February, reflected a value of $1.61 billion. Canada Pension Plan Investment Board, which has partnered with Wolf since 2015, invested $703 million. As a result of the deal, Wolf gained full ownership of Access, operator of a heavy oil transportation pipeline network servicing facilities in Alberta. Two years ago, the company acquired a 50 percent stake in Access from Devon Energy Corp for $1.4 billion.
2 min read · 23 March 2018
Caisse de dépôt et placement du Québec, one of the world’s biggest investors in private equity, is increasing its capital deployments by doing more direct deals with a select group of partners. The strategy was on display in 2017, when the pension system closed more than $7.6 billion in transactions. Stephane Etroy, CDPQ executive vice president and head of private equity, told PE Hub Canada that about 70 percent of the total went to co-sponsorships and co-investments.
3 min read · 23 March 2018
3 min read · 23 March 2018
