Caisse de depôt et placement du Québec has invested $2.5 million in Glutenberg Holding Co, a Montréal-based producer of craft beers and spirits. The Caisse, which invested through Fonds Espace CDPQ, did the deal in partnership with BDC Capital, which provided loans totalling $2.5 million. Founded in 2010 by CEO Julien Niquet and COO David Cayer, Glutenberg produces gluten-free craft beer via an in-house microbrewery. Through Oshlag and Transbroue it also makes and distributes alcoholic beverages. The deal will allow the company to expand operations in Québec, develop new markets globally, and create a financial arm, Glutenberg Capital.
3 min read · 19 December 2017
Canadian private equity firm Lynx Equity has acquired PartnerService Hver Gang ApS, a Copenhagen facility maintenance provider for office, retail and private institutional customers across Denmark. No financial terms were released. PartnerService, which was founded in 2003, provides cleaning, plant service, spring water, and fruit and vegetable supply to 217 customers in over 300 facilities each month. The investment is Lynx’s third in Europe. Earlier this year, the firm acquired U.K.-based Label Express Ltd and Signalhome Ltd. In 2016, PE Hub Canada profiled Brad Nathan, the Toronto investor’s founder and president.
3 min read · 19 December 2017
Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet manufacturer and distributor, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO has not yet been priced; however, Reuters reported the company is looking to raise about $175 million. The offering contemplates a secondary sale of shares by ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp. ONCAP acquired a majority stake in Pinnacle in 2011, investing $71 million in the deal. The IPO is being co-led by CIBC Capital Markets and RBC Capital Markets.
3 min read · 18 December 2017
ARTMS Products Inc, a Vancouver-based medical technology startup, has raised about $3.85 million (US$3 million) in financing. The investment came from a health sciences fund launched last year by Canadian venture capital firm Quark Venture and China’s GF Securities Co Ltd. Founded in 2013, ARTMS is developing novel technologies to enable the production of diagnostic imaging isotopes. Its flagship product, QUANTM Irradiation System, is a hardware and consumable system for producing Tc-99m on medical cyclotrons. Led by CEO Paul Schaffer, ARTMS will use the funds raised to set up operations and focus on partnerships, commercialization and production.
3 min read · 18 December 2017
OMERS Private Equity and Berkshire Partners have agreed to sell Husky IMS International Ltd, a Canadian supplier of injection molding equipment and services to the global plastics industry. Platinum Equity, a U.S. private equity firm, will buy the company for US$3.85 billion in a deal expected to close in Q2 2018. Bolton, Ontario-based Husky has production facilities in eight countries and service and sales offices in over 100 countries. Led by President and CEO John Galt, it was acquired by OMERS and Berkshire from Onex Corp for US$2.1 billion in 2011. Since then, Husky has grown its earnings by enhancing service, making acquisitions, and developing its product line.
4 min read · 18 December 2017
Ottawa has unveiled the details of its $400 million program to shore up venture capital supply in Canada, giving particular focus to backing late-stage tech and righting gender imbalances. The Venture Capital Catalyst Initiative, first announced in March's federal Budget 2017, was launched today by the Liberal government to channel $1.5 billion of new money into Canada’s innovation ecosystem. VCCI will do this by leveraging private commitments to VC funds, primarily through market intermediaries. Every $1 VCCI allocates through Business Development Bank of Canada must be matched by $2.25 from private sources, such as corporations, institutional investors and wealthy individuals. The matching formula, a unique feature of current Canadian public policy in the VC space, is based on one already tested in the market by VCCI’s predecessor.
3 min read · 18 December 2017
Canadian private equity firm Ironbridge Equity Partners has bought the assets of Midland Appliance Ltd, a branded home appliances dealer based in Richmond, British Columbia. No financial terms were released for the deal, which includes the affiliated BCH Transport Ltd and Innovative Appliance Distributors Ltd. Founded in 1984, Midland serves a network of developer, builder, designer and architect customers throughout Western Canada. President David Bast said the partnership with Ironbridge will support his company's "next chapter of growth." Midland is the third investment of Ironbridge Equity Partners III, which raised $238 million last year.
2 min read · 18 December 2017
Aeponyx Inc, a Montréal-based provider of micro optical switches, has raised $4.3 million in seed-stage financing. The round was led by Fonds Innovexport and Ecofuel Fund, an affiliate of Cycle Capital Management, and joined by other private investors. Founded in 2011, Aeponyx designs and makes fabless micro optical switch semiconductor chips targeted at fibre optic access to the cloud and optical switching in the cloud. Led by President and CEO Philippe Babin, the company will use the funds raised to complete the development and industrialization of its chip technology. Aeponyx has received in-kind support from U.S. incubator Silicon Catalyst.
4 min read · 18 December 2017
Tier1CRM Inc has secured about $44 million (US$34 million) in a growth equity financing. The round was led by U.S. growth equity firm Wavecrest Growth Partners and joined by the venture capital investment arms of Massachusetts Mutual Life Insurance Co and Salesforce. Founded in 2008 by CEO Mark Notten and COO Phil Dias, Toronto's Tier1CRM provides customer relationship management and engagement software to the financial services industry. The funds raised will be used by the company to accelerate product innovation, expand sales and marketing, and develop the partner ecosystem supporting ACE, Tier1CRM’s flagship product suite.
4 min read · 15 December 2017
Canadian gold producer Kirkland Lake Gold Ltd has agreed to sell all of the issued and outstanding common shares of Stawell Gold Mines Pty Ltd to Arete Capital Partners, an Australian mining private equity firm. Kirkland agreed to sell Stawell, which holds the Stawell Gold Mine located in the State of Victoria, Australia, for US$6.25 million in cash. The Toronto-based company will retain a 2.5 percent net smelter return royalty on the Stawell mine. The deal is expected to close this month.
2 min read · 15 December 2017
