Cobalt 27 Capital Corp (TSX-V: KBLT) has acquired a 1.75 percent net smelter return royalty on all future nickel and cobalt production from the Dumont project in Québec. The deal is valued at US$70 million. The Dumont project is jointly owned by RNC Minerals Corp and Waterton Global Resource Management, a Canadian mining private equity firm. Production, which will turn out materials used in electric vehicle and grid storage batteries, is expected to begin in 2020. Cobalt 27, a Toronto cobalt investor backed by Swiss mining private equity firm Pala Investments, said it is negotiating additional cobalt streaming and royalty deals.
6 min read · 22 February 2018
3 min read · 22 February 2018
Brightspark Ventures is generating market buzz with a sophisticated and fast-growing funding model that taps into the wealth of a once overlooked capital source. Brightspark, a nearly 20-year investor in North American early-stage tech companies, since 2014 has capitalized its deals by drawing on the resources of a network of accredited investors and family offices. The firm’s strategy, adopted as an alternative to raising a third institutional fund, is dubbed “democratic” because it relies on a large population of small investors, most them new to the venture market, Managing Partner Sophie Forest told PE Hub Canada.
3 min read · 22 February 2018
Canadian Solar Inc (NASDAQ: CSIQ) has sold a 142 megawatt peak solar portfolio to an affiliate of Greencoat Capital, a U.K. wind infrastructure, solar infrastructure and private equity firm. The portfolio, consisting of 24 operational solar power plants located across England, Wales and Scotland, is valued at about US$267.7 million, net of distributions. The 24 plants will generate about 142,000 megawatt hours of energy annually, sufficient for about 46,000 British households. Canadian Solar, a Guelph, Ontario-based solar power company, will provide operations and maintenance services.
3 min read · 22 February 2018
GFL Environmental Inc, a Toronto-based environmental services company, said it plans to commence a private offering of US$400 million in senior unsecured notes. The company will use the proceeds for repayment of outstanding borrowings under its senior secured revolving credit facility and other priorities, including financing acquisitions and organic growth initiatives. GFL, which is backed by HPS Investment Partners, Macquarie Group and Hawthorn Equity Partners, is reportedly preparing for a $1-billion initial public offering this year.
3 min read · 21 February 2018
Canadian private equity firm Penfund has invested $55 million in CBI Health Group, a Toronto-based provider of outpatient rehabilitation and home health services. The investment was the lead order for a new $70 million subordinated credit facility to support a dividend recapitalization of CBI. Penfund also acted as sole underwriter and agent of the facility. CBI, which operates more than 250 facilities across Canada, is a portfolio company of OMERS Private Equity (OPE). OPE acquired it in 2011 from Clearspring Capital Partners. Penfund, a junior capital provider to mid-market companies, is currently investing from Penfund Capital Fund V, which raised $724 million in 2016.
2 min read · 21 February 2018
Caisse de dépôt et placement du Québec said it earned an average return of 9.3 percent in 2017 and an annualized average return of 10.2 percent over five years, exceeding benchmarks. This performance, reported by the Caisse as part of its year-end financial results, contributed to growth in net assets, which reached a total of $299 billion at the end of December, up from $271 billion in 2016. The Caisse said its overall investment strategy is benefiting from such factors as an increased global presence and focus on less-liquid assets, including private equity, which returned 13 percent in 2017, and infrastructure, which returned 10.1 percent.
9 min read · 21 February 2018
Accedian, a Montréal-based end-to-end network performance company, has acquired Performance Vision, a French provider of network and application performance management solutions. No financial terms were released. Accedian said the deal unifies capabilities that are typically distributed in different products and will support its plans to expand into new markets and business segments in 2018. Founded in 2005 by CEO Patrick Ostiguy, Accedian last year secured a majority investment from Bridge Growth Partners, a U.S. private equity firm. The company was previously venture-backed.
4 min read · 21 February 2018
Braingrid Corp, a Toronto-based data platform for cannabis growers, has secured close to $2.6 million in its latest financing. The investors in the round included several venture capital firms, among them Quinsam Capital Corp, a Canadian cannabis merchant bank. Launched in 2012 by CEO Michael Kadonoff, Braingrid has developed a sensor system, called Sentroller, that captures real-time data needed by cannabis growers to increase revenue and reduce costs and risks. The company will use the funds raised to expand research, further execute its strategy, and support marketing related to lead generation and customer acquisition.
3 min read · 21 February 2018
U.S. software major Oracle Corp has acquired Zenedge, an Aventura, Florida-based cybersecurity solutions provider. No financial terms were disclosed. Redwood Shores, California-based Oracle said the acquisition gives it cloud-based network and infrastructure security capabilities to help protect enterprise customers from digital threats. Founded in 2014, Zenedge was backed by a number of venture capital firms, including Telus Ventures, a strategic investment arm of Canadian telecommunications company Telus Corp.
2 min read · 20 February 2018
