Xpertdoc Technologies Inc has bought the assets of XperiDo, a document generation software business, through a share purchase agreement. No financial terms were disclosed for the deal, which saw XperiDo sold by its Belgian developer and marketer Invenso Bvba. Xpertdoc, a Terrebonne, Québec-based document and customer communication solutions specialist, said the acquisition will expand its reach into global markets. Last year, Xpertdoc raised funding from BDC Capital‘s Growth and Transition Capital and Capital régional et coopératif Desjardins.
3 min read · 15 February 2018
Canadian private equity firm Onex Corp has promoted Tate Abols to managing director in the investor relations and fund development team. Abols previously served as a principal with the firm's investment team, focusing on deals in healthcare, building products and business services. He joined Onex in 2006 from the mergers and acquisitions group at RBC Capital Markets. Onex wrapped up its fifth flagship fund, Onex Partners V, last November, securing US$7.15 billion in committed capital.
2 min read · 15 February 2018
Island Water Technologies Inc (IWT), a Montague, Prince Edward Island wastewater treatment company, has raised $500,000 in seed-stage financing. Island Capital Partners, launched last year to invest in startups in Prince Edward Island, invested in the round with Natural Products Canada. Founded in 2013 by CEO Patrick Kiely, IWT is developing solutions that combine systems engineering, automation, precision manufacturing and new technologies for wastewater treatment, sensing and control. It will use the funds raised to commercialize the solutions and bring them to global customers.
3 min read · 15 February 2018
Waterloo, Ontario-based enterprise information management company OpenText Corp has acquired Hightail Inc, a Campbell, California-based cloud service for file sharing and creative collaboration. No financial terms were disclosed. OpenText said the deal reinforces its commitment to solutions that help marketers and creative professionals to share, produce and securely collaborate on digital content. Founded in 2004, Hightail raised more than $90 million in financing from several venture capital firms, including Adams Street Partners, Emergence Capital, Sigma Partners and Western Digital Capital.
2 min read · 15 February 2018
BDC Capital and Export Development Canada (EDC) have provided $5 million in mezzanine financing to GSM Project, a Montréal multidisciplinary designer and producer of visitor experiences. Founded in 1958, GSM partners with diverse clients, such as cultural institutions, consumer brands, real estate developers and governments. Led by CEO Annie Derome, the company plans to use the loan's proceeds to support its global growth and prepare for upcoming opportunities in the Middle East and Eastern Asia. BDC invested through its Growth and Transition Capital division. GSM is also a portfolio investment of XPND Capital.
3 min read · 15 February 2018
Canadian private equity firm Novacap has acquired an interest in Mailhot Industries, a Saint-Jacques, Québec-based maker of hydraulic cylinders. No financial terms were disclosed. Established in 1956 by Gilles Mailhot, Mailhot produces a complete line of single-stage and telescopic hydraulic cylinders used in a wide range of applications. President and CEO Charles Massicotte will continue in that role and remain a shareholder. Novacap Senior Partner Frédérick Perrault said the partnership will support Mailhot's growth to "become the North American leader in its industry segment" by exploring strategic opportunities in new markets.
3 min read · 15 February 2018
U.S. alternative investment firm Oaktree Capital Management has closed its acquisition of Napec Inc (TSX: NPC), a Drummondville, Québec-based provider of construction and maintenance services to the public utility and heavy industrial markets. The previously announced deal, valued at $320 million, was supported by Fonds de solidarité FTQ, the company’s largest shareholder. As a result, Napec will be de-listed on or about February 16. Founded in 1978, Napec's Canadian and U.S. operational affiliates are, respectively, Thirau Inc and Riggs Distler & Co Inc.
3 min read · 14 February 2018
Caisse de dépôt et placement du Québec and Agropur Cooperative, a Longueuil, Québec-based dairy cooperative, said they will set up a joint dairy-focused investment platform. The platform will commit $40 million to companies specializing in dairy-related products and technologies. Robert Coallier, CEO of Agropur, said the strategy will help anticipate the "needs of our customers and consumers and create the dairy products of tomorrow." In 2016, Agropur raised financing from the Caisse, Fonds de solidarité FTQ, Capital régional et coopératif Desjardins, Fondaction CSN and other investors.
3 min read · 14 February 2018
Ottawa-based cybersecurity software company inBay Technologies Inc has raised an additional $1 million in the second tranche of its pre-Series A financing, bringing the total to more than $2 million. Japanese consulting and business alliance company Global Alliance Inc led the second tranche. It joins Ramphastos Investments and Tongda One Partners, which co-led the round's initial tranche. Shane Young, president and CEO of inBay, said the latest funds raised will help commercialize the company's password-less authentication solution for enterprises, idQ TaaS, and create new market opportunities in Japan.
3 min read · 14 February 2018
Loopio Inc, a Toronto-based provider of requests-for-proposals response software, has raised $9 million in a Series A financing. The round was led by OpenView, whose partner, Ricky Pelletier, will join the board. Founded in 2014, Loopio has developed a solution that helps enterprises to streamline RFPs, requests for information and security questionnaires.
3 min read · 14 February 2018
