Edlio has acquired Scholantis, a Vancouver-based provider of custom-designed websites and user-driven portals to Canadian schools. No financial terms were disclosed. Edlio, a Los Angeles-based provider of communication platforms for K-12 schools and districts, said the deal expands the company's education technology capabilities and will allow it to serve the market in Canada. Scholantis was founded in 2007 by President and CEO Drew Carmichael. Launched in 2011, Edlio last year raised a US$40 million investment from L Squared Capital Partners, a U.S. growth equity firm.
4 min read · 20 December 2017
Canadian private equity firm Walter Capital Partners has received a $100 million capital commitment from its family-owned parent, Walter Financial, adding to an initial $100 million investment made went the firm was launched two years ago. The new money was supplied with Walter Capital's deployment of more than half of the original amount to such investments as Bonlook, a fashion eyewear company, and SPUD.ca, an omnichannel grocery company, both of which were financed last month. Led by Managing Partners Pierre Fitzgibbon and Éric Phaneuf, Walter Capital will continue to back the growth strategies of small and medium-sized businesses.
4 min read · 20 December 2017
U.S. private equity firm TA Associates has agreed to invest in Flexera Software LLC, an Itasca, Illinois-based software supply chain specialist. No financial terms were released for the deal, which is expected to close early next year. As a result, TA Associates will acquire equity from existing shareholders and join lead investor Ontario Teachers’ Pension Plan. The Canadian pension fund bought a majority stake in Flexera from U.S. private equity firm Thoma Bravo in 2011. The new partnership will support the company's continued organic and acquisition-led growth.
5 min read · 19 December 2017
Canadian alternative equity firm Alaris Royalty Corp has committed an additional US$13.5 million to Federal Resources Supply Co, a Stevensville, Maryland provider of mission-critical solutions to defense, first-responder, homeland security and maritime end-users. It also committed an additional US$7 million to Sandbox Group LLC, a Chicago marketing and advertising services specialist. The proceeds of the investments will support acquisitions. Alaris also expects to close a US$15 million contribution to a new partner this month. The latest deal will bring the firm's total deployments in 2017 to a record $195 million.
5 min read · 19 December 2017
Hong Kong lifestyle brand Pure Group has secured an investment from FountainVest Partners, a Chinese private equity firm, and Ontario Teachers' Pension Plan. No financial terms were released; however, Bloomberg reported earlier this year that FountainVest was planning to acquire the business for more than US$400 million. Founded in 2002, Pure Group operates yoga, fitness and dining facilities, serving about 80,000 clients. Ontario Teachers' Senior Managing Director, International, Jo Taylor said the deal will tap "strong growth opportunities in Asia's premium fitness market."
6 min read · 19 December 2017
Ontario Teachers' Pension Plan has agreed to sell Metronode, an Australian data centre provider, to Equinix Inc. The all-cash deal is valued at A$1.035 billion (US$791 million) and is expected to close in the first half of next year. Ontario Teachers' acquired a 70 percent stake in Metronode as part of a June 2013 investment in its parent company, Nextgen Group Pty Ltd. Last year, the pension fund acquired the remaining interest from CIMIC Group Ltd. Over this period, Ontario Teachers' invested A$300 million to construct and expand Metronode's facilities, increasing fitted capacity to 21 mega-watts.
2 min read · 19 December 2017
U.K. childcare provider Busy Bees Holdings Ltd has agreed to receive an undisclosed strategic investment from Singapore sovereign wealth fund Temasek Holdings. The deal, expected to close before the end of 2017, will give Temasek a minority stake in Busy Bees, which has been majority owned by Ontario Teachers' Pension Plan since 2013. It will also allow the company to continue expanding, particularly in Asia, Ontario Teachers' Senior Managing Director, International, Jo Taylor said. Earlier this year, Busy Bees acquired Calgary's BrightPath Early Learning Inc for about $145 million.
3 min read · 19 December 2017
ACL Services Ltd, a Vancouver-based governance, risk management and compliance software company, has secured a $50 million strategic minority investment from the growth equity team of U.S. firm Norwest Venture Partners. The investment, ACL's first, will back a consolidation strategy for the "massive and under-served market for risk and performance management software," Laurie Schultz, the company's president and CEO, said. Founded in 1987, ACL works with more than 7,000 existing government and business customers in 140 countries to manage risk, detect fraud, identify operational waste, and efficiently comply with industry regulation.
4 min read · 19 December 2017
A vehicle held by Great Canadian Gaming Corp (TSX: GC) and Clairvest Group, a Canadian private equity firm, has been selected to run and develop four Ontario Lottery and Gaming Corp (OLG) gaming facilities in West Toronto. No financial terms were disclosed for the deal, which is expected to close next year. It will see Great Canadian and Clairvest hold 55 percent and 45 percent, respectively, of the partnership operating the facilities, which include over 2,500 slot machines and about 60 table games, and generated revenue of about $450 million in fiscal 2017. Great Canadian joined Brookfield Asset Management in acquiring OLG gaming assets in August.
5 min read · 19 December 2017
U.S. private investment firm Oaktree Capital Management has increased its equity interest in SunOpta Inc (TSX: SOY, Nasdaq: STKL), a Canadian producer of organic and specialty foods. Last week, Oaktree acquired 3.7 million common shares at US$7.50 per unit, growing its stake to about 19.81 percent of outstanding shares. In October 2016, Oaktree agreed to invest $85 million in exchangeable preferred shares in Toronto-based SunOpta to help the company reduce its second lien debt and increase flexibility. The deal limited Oaktree's total investment to 19.99 percent.
3 min read · 19 December 2017
