Canadian specialty finance firm Crown Capital Partners has supplied an $8 million term loan to Canadian Helicopters Ltd, a provider of helicopter transportation and related support services based in Les Cèdres, Québec. The loan supported the purchase of the company's onshore operations by President and CEO Don Wall. The buy, wrapped up last month, saw HNZ Group Inc, Canadian Helicopters' parent organization, taken private and split between two buyers. Founded in 1947, Canadian Helicopters today has a network of 11 fixed bases and owns and operates 91 light, medium, and heavy lift helicopters.
3 min read · 02 January 2018
Canadian oil company PetroShale Inc (TSX-V: PSH) has agreed to receive strategic financing of about $94 million (US$75 million) from First Reserve Corp, a U.S. private equity firm. First Reserve agreed to acquire Series A preferred shares in PetroShale's U.S. subsidiary, which will give Managing Director Brooks Shughart a seat on the board. Calgary-based PetroShale said the deal, expected to close in mid-January, will accelerate its long-term plan to acquire and develop light oil interests in the North Dakota Bakken-Three Forks region. Additionally, the company expects to gain financial flexibility and a secure funding source for its 2018 drilling and completions capital program.
7 min read · 02 January 2018
Vertex Resource Group Ltd (TSX-V: VTX) has acquired the business of Sonic Oilfield Services Ltd, a Calgary environmental services company that provides pressure trucks, fluid hauling, chemical and other products. Vertex, which paid $4.5 million in cash and stock, said the deal expands its presence in Saskatchewan. Based in Sherwood Park, Alberta, Vertex provides environmental and industrial services. Last October, it closed an $85.8 million qualifying transaction on the TSX Venture Exchange with the backing of Canadian energy private equity firm 32 Degrees Capital.
3 min read · 02 January 2018
Brookfield Asset Management has raised US$885 million ($1.1 billion) in the final close of its inaugural infrastructure debt fund, exceeding by 26 percent the fund's US$700 million target. Brookfield Infrastructure Debt Fund (BID), which invests mezzanine debt in core infrastructure assets primarily located in North America, as well as South America, Australia and Europe, was backed by pension funds, financial institutions and other investors. BID has already made about US$200 million in lending commitments to a portfolio of transportation, renewable power and energy assets. Toronto-based Brookfield is an alternative asset manager.
2 min read · 02 January 2018
FindBob, a transition management platform for the financial services industry, has raised about $1.6 million (US$1.25 million) in seed-stage financing. The round was led by Grinnell Mutual Reinsurance and joined by MaRS Investment Accelerator Fund, Ames Seed Capital, Global Insurance Accelerator and angel investors. Founded three years ago by CEO Roland Chan, Toronto-based FindBob provides a digital channel to help financial professionals and their firms manage change and succession issues. It will use the funds raised to grow sales and marketing teams, expand into new U.S. markets, and execute on its product road map.
4 min read · 22 December 2017
Caisse de dépôt et placement du Québec and Public Sector Pension Investment Board (PSP Investments) have agreed to acquire minority stakes in French industrial engineering group Fives. No financial terms were disclosed; however, Reuters reported the deal values the business at about 1.5 billion euros (US$1.78 billion). The seller is French private equity firm Ardian, which bought into Fives in 2012. Ardian will continue as a minority shareholder, with control held by management. Fives designs and supplies engineered machines, process equipment and production lines. An affiliate, Fives Liné Machine Inc, is located in Granby, Québec.
6 min read · 22 December 2017
Vancouver-based metals and mining company Nevada Copper Corp (TSX: NCU) has agreed to raise US$378 million in business recapitalization and construction financing for its Pumpkin Hollow project in Nevada. The funds will be supplied by Triple Flag Mining Finance, Pala Investments, Red Kite Mine Finance, Concord Resources and other investors. Pala, a Swiss private equity firm, will as a result grow its stake in the company to 54.8 percent of outstanding shares, and 72 percent if it discharges backstop obligations under the deal's equity offering. Nevada said the deal will create a stronger balance sheet and move Pumpkin Hollow to first production in 2019.
10 min read · 22 December 2017
DW Healthcare Partners has invested in SoClean Inc, an Oxford, Massachusetts provider of sleep apnea cleaning solutions. No financial terms were disclosed. Founded in 2011, SoClean offers a direct-to-consumer in-home cleaning device for CPAP equipment that improves health outcomes for people suffering from sleep apnea and other sleep disorders.
2 min read · 21 December 2017
DW Healthcare Partners (DWHP) has invested in SoClean Inc, an Oxford, Massachusetts provider of sleep apnea cleaning solutions. No financial terms were disclosed. Founded in 2011, SoClean offers a direct-to-consumer in-home cleaning device for CPAP equipment that improves health outcomes for people suffering from sleep apnea and other sleep disorders. It will use the partnership with DWHP to pursure an "aggressive growth strategy." DWHP, a Toronto-based healthcare private equity firm, earlier this year raised US$295 million for this fourth fund.
2 min read · 21 December 2017
Eguana Technologies Inc (TSX-V: EGT) has secured about $3.8 million (US$3 million) in debt financing from Western Technology Investment, a U.S. venture debt firm. Based in Calgary, Eguana designs and manufactures high performance power electronics for residential and commercial energy storage systems. It plans to use the funds raised for general working capital. Led by CEO Justin Holland, Eguana has also raised financing from Doughty Hanson Technology Ventures.
2 min read · 21 December 2017
