Canadian private equity firm Roynat Equity Partners has closed its third exit inside of a month with the sale of the internet access business of NetSet Communications to Xplornet Communications Inc. The deal, the financial terms of which were not disclosed, was announced in October by Xplornet, a Canadian rural broadband service provider. It resulted in the realization of Roynat's stake in Brandon, Manitoba-based NetSet, which has been held by the investor since 2014. Last month, Roynat announced exits from Comtrad Strategic Sourcing, acquired by Ardenton Capital Corp, and SkyTrac Systems Ltd, acquired by an affiliate of Jordan Co.
3 min read · 14 November 2017
OMERS Private Equity has agreed to acquire a majority stake in Trescal SA, a Paris-based provider of calibration services for the test and measuring equipment market. The deal, which values the company at about $787 million, will see OPE partner with senior management led by CEO Olivier Delrieu. The seller is European private equity firm Ardian, which acquired Trescal in 2013. OPE is the private equity arm of the Ontario Municipal Employees Retirement System.
5 min read · 14 November 2017
What does a venture capital school have to teach Janet Bannister, general partner at Real Ventures, a former eBay executive, and founder of popular internet brand Kijiji? Plenty, Bannister tells PE Hub Canada. Last week, Bannister joined other investment pros in Vancouver at GP Academy, a program BDC Capital developed in consultation with Silicon Valley VC educator Kauffman Fellows. Launched in May, it provides a boot-camp-style learning environment that aims to buff up investors’ skills.
3 min read · 14 November 2017
3 min read · 14 November 2017
OMERS Private Equity (OPE) has agreed to acquire a majority stake in Trescal SA, a Paris-based provider of calibration services for the test and measuring equipment market. The deal, which values the company at about €670 million (US$787 million), will see OPE partner with senior management led by CEO Olivier Delrieu. The seller is European private equity firm Ardian, which acquired Trescal in 2013. Established in 1956, Trescal operates across more than 110 sites in 22 countries and serves more than 40,000 customers in a range of industries. OPE is the private equity arm of the Ontario Municipal Employees Retirement System (OMERS).
6 min read · 14 November 2017
STEP Energy Services Ltd, a Calgary coiled tubing and fracturing solutions provider, has launched a secondary offering of common shares on behalf of ARC Financial Corp, a Canadian energy private equity firm. The offering will sell about 5.3 million shares at $12.25 per unit, generating more than $65 million in gross proceeds. The offering's greenshoe option, if fully exercised, will increase the proceeds to about $75 million. ARC, which invested in STEP in 2011, will as a result see its interest reduced to about 67.9 percent of issued and outstanding shares, not including the greenshoe option. STEP went public earlier this year, raising $100 million.
4 min read · 13 November 2017
U.S. cybersecurity business Optiv Security Inc has acquired Conexsys Communications Ltd, a Mississauga, Ontario-based provider of enterprise networking and network security solutions. No financial terms were released. Optiv, which has its headquarters in Denver, Colorado, said the deal increases its ability to serve Canadian, U.S. and global customers and enhances its vertical presence in the public sector. Conexsys formed in 1997 and was bought by senior management in 2004 from Allan Crawford Associates Ltd. U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) acquired a majority stake in Optiv earlier this year.
3 min read · 13 November 2017
Canadian early-stage venture capital firm Real Ventures has promoted Sam Haffar and Isaac Souweine to the role of partner. Haffar, an entrepreneur who joined the firm in 2014, was previously a principal. Souweine came to Real Ventures last year from Frank & Oak as an entrepreneur-in-residence. General Partner John Stokes described both as "passionate and effective mentors and investment professionals." Montréal-based Real Ventures also added to its team, hiring Roula Zaarour, formerly a CBC/Radio-Canada executive, as COO, and Lauren Jane Heller, formerly a BetaKit writer, as director of communications.
4 min read · 13 November 2017
U.S. private equity firm Riverside Co has acquired Kii Naturals Inc, a Vaughan, Ontario creator and maker of all-natural artisan crisps, cereals, grains and other products. No financial terms were released for the deal, which will see Kii combined with NuStef Baking Ltd, a Mississauga, Ontario maker of pizelle waffle cookies and artisan crackers under the Reko brand. Riverside, which invested in NuStef in January, said it will help drive growth at both companies through leveraging a Canadian and U.S. distribution network, existing broker-retailer relationships, cross-selling and developing new products and flavours, among other strategies.
3 min read · 13 November 2017
EnerTech Capital has partnered with Pivotal Funds to form EnerTech Specialty Finance, a specialty finance vehicle that will target opportunities in the U.S. property assessed clean energy (PACE) market. The legislation-enabled PACE program helps commercial real estate owners secure private funding for renewable energy, energy efficiency and water conservation projects. The EnerTech PACE offering, managed by Pivotal's Howard Steinberg and Jonathan Globerman, will support a range of these projects. EnerTech, which has offices in Calgary, Montréal, Toronto and the United States, invests in energy and power technology companies.
3 min read · 13 November 2017
