Caisse de dépôt et placement du Québec will invest more than US$400 million in Hyperion Insurance Group, a London, U.K.-based insurance business. The deal gives the Caisse a "significant" minority interest in the company alongside U.S. private equity firm General Atlantic (GA), which invested in 2013. Hyperion management and employees remain the largest shareholders. The funds raised from the Caisse will provide liquidity to existing investors and, along with a proposed debt refinancing, supply Hyperion with more than US$300 million for its global growth strategy.
5 min read · 04 December 2017
Canadian zinc mining company Adventus Zinc Corp (TSX-V: ADZN) has launched a bought-deal private placement offering to raise as much as $11.5 million. It is expected that the company's strategic investors, Canadian mining royalty firm Altius Minerals Corp, U.K. private equity firm Greenstone Resources and U.S. private equity firm Resource Capital Funds (RCF), will participate in the deal. The three shareholders provided Adventus with $8 million in seed financing last year. Toronto-based Adventus said it will use the offering's proceeds to fund the Curipamba polymetallic project in Ecuador and for other priorities.
3 min read · 04 December 2017
Well.ca, an online health, wellness, natural and baby products store, has been acquired by McKesson Canada. No financial terms were disclosed. Founded in 2008 by former CEO Ali Asaria, Well.ca sells more than 40,000 products to online shoppers. McKesson, a distributor of pharmaceutical and medical supplies, said the deal will increase digital opportunities for its customers. Well.ca, which will continue to operate as a distinct brand within McKesson and remain based in Guelph, Ontario, has been backed since its founding by iNovia Capital. Its other investors have included Extreme Venture Partners, Hero Ventures and Thunder Road Capital.
3 min read · 04 December 2017
Arterra Wines Canada Inc, formerly known as Constellation Brands Canada, has agreed to acquire Laughing Stock Vineyards Ltd, a Penticton, British Columbia-based boutique winery. No financial terms were released. David Enns and Cynthia Enns, who founded Laughing Stock in 2003, will continue to play a leadership role in the company. Mississauga, Ontario-based Arterra is an owner and distributor of more than 100 wine brands. It was acquired last year by Ontario Teachers’ Pension Plan from Constellation Brands Inc in a deal valued at $1.03 billion.
4 min read · 04 December 2017
Canadian molecular diagnostics company Qvella has secured about $25.5 million (US$20 million) in a Series B financing. The round was co-led by RA Capital, Whitecap Venture Partners, Hatteras Ventures and Sands Capital, all of which backed Qvella’s Series A financing in 2015. They were joined by new strategic investor bioMérieux, a French in vitro diagnostics specialist. Founded in 2009, Toronto-headquartered Qvella has developed technology that helps reduce the time to results in the diagnosis of infections. Led by President and CEO Tino Alavie, the company will use the funds raised to support clinical trials, research, team expansion and manufacturing scale-up.
3 min read · 04 December 2017
New Flyer Industries Inc (TSX: NFI) has bought 100 percent of the interests in ARBOC Specialty Vehicles LLC, a Middlebury, Indiana-based producer of specialty vehicles targeting the low-floor, small and mid-size bus markets. New Flyer's U.S. affiliate paid US$95 million for ARBOC, which was sold by U.S. private equity firm HIG Capital. New Flyer, a Winnipeg-based transit bus and motor coach manufacturer and parts distributor, said the deal provides it with complementary product lines and an opportunity for growth and diversification. Founded in 1930, New Flyer was formerly backed by Harvest Partners and Lightyear Capital.
5 min read · 01 December 2017
InnovaSea Systems Inc has acquired Amirix Systems Inc, a Bedford, Nova Scotia-based designer and maker of electronic systems for underwater acoustic telemetry, aquatic animal tracking, positioning, and data logging. No financial terms were disclosed. Founded in 1981, Amirix operates through a family of companies, including Vemco, HTI-Vemco USA and Realtime Aquaculture. InnovaSea, a Boston-based producer of open-ocean fish farming systems, said the combination of the businesses will create an "integrated solution for monitoring aquaculture farms." InnovaSea is owned by Cuna del Mar, a U.S. aquaculture private equity firm.
3 min read · 01 December 2017
West Face Capital said Black Cube has contacted current and former employees, as well as a retired Ontario Superior Court judge, concerning a claim launched against the firm by Catalyst Capital Group and dismissed by the judge last year. Black Cube, an Israeli intelligence company, reportedly worked for Hollywood producer Harvey Weinstein to gather information about women accusing him of sexual abuse. West Face, a Toronto-based alternative investment firm, said it is "appalled" by Black Cube's activities in relation to the Catalyst claim, which alleged that West Face misused confidential data when buying a stake in Wind Mobile Corp in 2014.
2 min read · 30 November 2017
Mojio Inc has raised $30 million in a Series B financing. The round was led by Kensington Capital Partners. It was joined by Trend Forward Capital and innogy Ventures, both new investors, and Amazon Alexa Fund, BDC Capital's IT Venture Fund, Deutsche Telekom and Relay Ventures, which invested in last year's Series A round. Founded in 2012, Vancouver-based Mojio is a provider of carrier-grade connected car solutions. It operates in five countries and has to date connected more than 500,000 vehicles. Led by CEO Kenny Hawk, Mojio will use the funds raised for roll-outs with network operators and product innovation, including machine-learning initiatives.
5 min read · 30 November 2017
4 min read · 30 November 2017
