An affiliate of Cogeco Communications Inc, a Canadian telecommunications and media company, has closed its buy of cable systems owned by Harron Communications LP, which operates under the MetroCast brand name. The previously announced deal is valued at about $1.4 billion. It will support the growth of the Cogeco affiliate, Atlantic Broadband, across 11 states on the U.S. East Coast. Caisse de dépôt et placement du Québec invested $315 million in the acquisition, giving the pension fund a 21 percent interest in Atlantic Broadband’s holding company.
4 min read · 04 January 2018
An affiliate of Cogeco Communications Inc, a Canadian telecommunications and media company, has closed its buy of cable systems owned by Harron Communications LP, which operates under the MetroCast brand name. The previously announced deal is valued at about US$1.4 billion. It will support the growth of the Cogeco affiliate, Atlantic Broadband, across 11 states on the U.S. east coast. Caisse de dépôt et placement du Québec invested US$315 million in the acquisition, giving the pension fund a 21 percent interest in Atlantic Broadband's holding company.
4 min read · 04 January 2018
U.S. private equity firm Northlane Capital Partners has made an investment in Smart Wave Technologies Corp, a Toronto-based designer and producer of electronic and electromechanical systems for a range of end markets, including the away-from-home restroom market. Northlane invested an undisclosed sum alongside Founder Peter Zosimadis, who will remain with the company as CTO. Jack Vresics has joined as CEO. Founded in 1994, SmartWave makes components for products that require sensing, verifying or dispensing. It will use the partnership with Northlane to serve existing customers and expand into new end markets.
2 min read · 04 January 2018
AppNeta Inc, a Boston and Vancouver network performance company, has secured undisclosed growth financing from Rubicon Technology Partners, a U.S. enterprise software private equity firm. AppNeta provides application and network monitoring solutions for the distributed, cloud-connected, digital enterprise. Led by President and CEO Matt Stevens, it serves more than 1,100 businesses worldwide and analyzes more than 100 billion performance metrics daily via its software-as-a-service platform. Founded in 2011, AppNeta previously raised venture capital funding from Bain Capital, BDC Capital, Egan-Managed Capital and other investors.
3 min read · 04 January 2018
Totten Insurance Group, an affiliate of Hub International Ltd, has acquired the shares of Belyer Insurance Ltd, which operates as EasyInsure, a Windsor, Ontario-based digital insurance brokerage. No financial terms were released. Totten, a Toronto-based provider of solutions for challenging insurance accounts and specialty risks, said it intends to leverage EasyInsure's digital capabilities to better support its clients. Hub, which has its head office in Chicago, is a portfolio company of U.S. private equity firm Hellman & Friedman.
2 min read · 03 January 2018
Canadian royalty financing firm Grenville Strategic Royalty Corp has agreed to provide growth capital to Solar Brokers Canada Corp, a Toronto-based residential solar sales organization. Grenville invested an initial $1.075 million through an expandable facility. Affiliated with Green Lion Eco Group Corp, a Toronto-based provider of custom engineered solar solutions, Solar Brokers has since 2012 brokered the sale of more than 30 megawatts of solar to Ontario homeowners.
3 min read · 03 January 2018
IDI Gazeley, a U.S. investor and developer of logistics warehouses and distribution parks, has been renamed IDI Logistics with the sale of Gazeley, the company's European counterpart. Brookfield Asset Management, owner of IDI Logistics, agreed in October to sell the European business to Asia's Global Logistic Properties for US$2.8 billion. Based in Atlanta, Georgia, IDI Logistics has 33 million square feet of assets under management and additional land sites to develop another 20 million square feet of distribution facilities in North America.
2 min read · 03 January 2018
Canadian mobile app development platform Buddybuild has been acquired by U.S. technology giant Apple. No financial terms were disclosed. As a result, Buddybuild has become part of Apple's Xcode engineering group, but will continue to operate from Vancouver. Launched in 2015 by CEO Dennis Pilarinos and Engineers Christopher Stott and Johnny Ting Shi, Buddybuild was backed by Amplify Partners, Bloomberg Beta, First Round Capital and Kleiner Perkins Caufield and Byers, among others. Kleiner Perkins led the company's $10 million (US$7.6 million) Series A financing in 2016. In November, Apple bought Totem headset maker Vrvana.
1 min read · 02 January 2018
Canada’s initial public offering (IPO) market set a five-year record in 2017, with a total of $5.1 billion in proceeds raised by 38 new equity issues, according to a survey by PwC. Activity was supported by an especially strong fourth quarter that saw $1.7 billion raised, in large part due to revived mining IPOs. Private equity- and venture-backed IPOs also played a key role in 2017 trends and could continue to exert influence in 2018, PwC National IPO Leader Dean Braunsteiner said. PE Hub Canada in December estimated that a dozen private equity- and venture-backed IPOs raised $2.3 billion last year.
4 min read · 02 January 2018
Millar Western Forest Products Ltd has bought all of the shares of Spruceland Millworks Inc, an Acheson, Alberta-based maker and distributor of spruce, pine and fir wood products. No financial terms were released. Millar Western said the buy will strengthen its business by integrating the company's existing sawmill operations with Spruceland's value-adding manufacturing capabilities. Spruceland is the first acquisition disclosed by Edmonton's Millar Western since it was recapitalized last May by Atlas Holdings, a U.S. private equity firm. The deal gave Atlas a majority stake and three board seats, one of which is occupied by Managing Partner Tim Fazio.
3 min read · 02 January 2018
