Intellectual Technology Inc (ITI) has acquired Solutions Thru Software, a Medicine Hat, Alberta- and Henderson, Nevada-based provider of driver’s license knowledge testing software. No financial terms were disclosed. ITI said the deal expands its product offering and distribution capabilities for motor vehicle agencies and broadens its overall automated solutions offering. Based in Carlsbad, California, ITI was acquired by U.S. private equity firm Vicente Capital Partners in 2012.
3 min read · 22 January 2018
Hortau Inc, a Lévis, Québec-based provider of precision irrigation management services for agriculture, has received an investment of $5.9 million from Sustainable Development Technology Canada (SDTC). The funds raised will support Hortau's platform, consisting of hardware, software and communication systems, which help farmers better manage irrigation and reduce water consumption and pesticide use. Founded in 2002, Hortau is backed by Advantage Capital Partners, Avrio Capital, BDC Capital, Capital régional et coopératif Desjardins, Telesystem and other investors.
4 min read · 22 January 2018
Napec Inc (TSX: NPC), which in December agreed to be bought by Oaktree Capital Management, has agreed to acquire the assets of H.T. Sweeney & Son Inc (HTS), a Brookhaven, Pennsylvania-based heavy civil construction business. The deal, expected to close next month, will see Napec buy HTS for US$18 million, subject to adjustments. Napec, a Drummondville, Québec-based provider of construction and maintenance services to the public utility and heavy industrial markets, said the acquisition will allow it to vertically integrate its heavy civil services. Oaktree said it would buy Napec for about $320 million. The deal expected to close in Q1 2018.
3 min read · 22 January 2018
For Canada’s private equity market, 2017 was the most active year in a decade. While the vast majority of deals were mid-market in nature, the headlines focused on a handful of large-caps. They included last year’s proposed buy of Husky IMS International by Platinum Equity and the completed buy of DH Corp by Vista Equity Partners, the two biggest Canadian PE deals since 2014. They helped Canada’s top 10 private-equity deals in 2017 together account for disclosed values of more than $22 billion. That's up 88 percent from the $11.7 billion captured by the top 10 deals in 2016.
3 min read · 22 January 2018
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 6.3 percent stake in ReNew Power Ventures Pvt Ltd, an Indian renewable energy developer and operator. The interest is being bought by CPPIB from Asian Development Bank for US$144 million. Founded in 2011 and based in Gurgaon, ReNew Power has capacity diversified across wind, utility-scale solar and rooftop solar power-producing assets. As of September 2017, CPPIB had $6.1 billion invested in India.
3 min read · 22 January 2018
Enerkem Inc, a Montréal-based producer of biofuels and renewable chemicals from waste, has struck a $125 million strategic partnership with China's Sinobioway Group. The deal includes equity funding for Enerkem, future licenses, equipment manufacturing and sales, and a joint venture to construct more than 100 Enerkem biofuel facilities in China by 2035. The company said the partnership will help grow its commercial footprint and help China achieve its climate change goals. Enerkem's investors include Braemar Energy Ventures, Cycle Capital Management, Fondaction CSN, Fonds de solidarité FTQ, Rho Capital Partners, Waste Management and Westly Group.
3 min read · 22 January 2018
Bridging Finance has officially launched a private debt fund earmarked for infrastructure and consolidation deal opportunities in the cannabis sector. Beginning today, Bridging Infrastructure Fund LP will be marketed to retail and institutional investors. Bridging also said that it has entered into a partnership with MJardin Group, a U.S. cannabis consulting and management firm, to act as a strategic operating partner, assisting potential borrowers and managing fund investments. Based in Toronto, Bridging is a provider of alternative financing to mid-market companies.
3 min read · 19 January 2018
GrafTech International Ltd, an Independence, Ohio-based producer of graphite material solutions, has registered with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The IPO, which has not yet been priced, will allow Brookfield Business Partners (BBP), GrafTech's sole shareholder, to sell shares. BBP is the listed affiliate of Toronto-based Brookfield Asset Management's private equity group, which acquired GrafTech for about US$840 million in 2015.
2 min read · 19 January 2018
Vention, a Montréal-based digital manufacturing platform dedicated to machine design, has secured C$3.5 million in seed-stage financing. White Star Capital led the round with participation from Bolt, Real Ventures and several technology executives. Founded in 2016 by CEO Etienne Lacroix and CTO Max Windisch, Vention with the round announced the first public launch of its free, cloud-based 3D MachineBuilder, which with a modular component library allows users to design and assemble custom industrial equipment directly from a web browser in a short time.
4 min read · 19 January 2018
Mountain View, California-based energy management company Bidgely has raised US$27 million in a Series C financing, bringing its total funding to US$51 million. Georgian Partners, a Canadian growth equity firm, led the round. It was joined by existing investors, including Khosla Ventures, E.ON and innogy. Founded in 2011, Bidgely's software-as-a-service platform applies machine learning to utility meter data to itemize the amount and cost of energy used by customers. Led by CEO Abhay Gupta, the company plans to use the proceeds of the Series C to advance its growth opportunities in the utility analytics space.
3 min read · 19 January 2018
