Gentherm (Nasdaq-GS: THRM) has acquired Etratech Enterprises Inc, a Burlington, Ontario-based designer, developer and maker of advanced electronic controls and control systems for the automotive, recreational vehicle and marine, security, medical and other industries. Gentherm, a U.S. thermal management technologies company, paid about $82 million (US$64 million) in cash for the company to diversify its product portfolio and capabilities. The deal provides an exit to the Shotgun Fund of Canadian private equity firm Argosy Partners, which invested in 2000. Etratech was founded in 1989 by President and CEO Michael Desnoyers.
3 min read · 02 November 2017
Web.com Group Inc (Nasdaq: WEB) has acquired the assets of Acquisio Inc, a Brossard, Québec-based provider of software that facilitates customer acquisition using advertising platforms. No financial terms were released. Web.com, a U.S. internet services company, said the deal gives it access to "award-winning artificial intelligence technology" that Acquisio has made available to small businesses. Acquisio was founded in 2003 by CEO Marc Poirier and CTO Richard Couture. It has been backed by Canadian investors, including Emerillon Capital, Fonds de solidarité FTQ, Tandem Expansion Fund and Wellington Financial.
3 min read · 01 November 2017
Caisse de dépôt et placement du Québec has provided a US$40 million ($50.4 million) loan to Sunrun Inc, a San Francisco-based developer, installer, marketer and operator of residential photovoltaic solar energy systems. The loan formed part of a US$234.5-million senior secured credit facility that is related to a solar energy portfolio originated by the company. The Caisse said the deal marks its entrance into the U.S. residential solar energy sector.
3 min read · 01 November 2017
3 min read · 01 November 2017
Wherever you look in Canada’s technology sectors, from the pre-revenue startup to the Bay Street boardroom, you find too few women in leadership roles. That’s the main message of a new report on the state of gender disparity in innovation. Where’s the Dial Now?, co-authored by MoveTheDial, PwC Canada and MaRS Discovery District, draws on numerous sources, including data for some 933 tech businesses, to produce a comprehensive study of female representation in the ranks of tech executives, founders and boards.
3 min read · 01 November 2017
Canadian private equity firm Mosaic Capital Corp has acquired a 75 percent interest in Circle 5 Tool & Mold Inc, a Windsor, Ontario-based supplier of molding solutions to automotive parts manufacturers. Mosaic bought the stake for $27 million in cash. Saylo Lam, Circle 5's president and operating shareholder, who will hold the remaining 25 percent interest, said the deal will support organic and acquisition growth opportunities. Founded in 1987, Circle 5 has a global customer base that includes such automotive brands as BMW, Ford, Volkswagen, General Motors, Toyota, Daimler and Tesla. It operates from a 50,000 square-foot facility in Windsor.
3 min read · 01 November 2017
Bridgit, a Kitchener, Ontario mobile construction manager, has raised $2 million in follow-on financing. The round was led by StandUp Ventures Fund I, a women-focused fund formed earlier in 2017, and MaRS IAF. Launched in 2014, Bridgit provides software that simplifies communication and site management for developers, general contractors and subcontractors. The platform is used by hundreds of contractors across North America. Bridgit will deploy the funds raised to product development and growth in new markets. Last year, Bridgit raised $2.2 million in a seed round led by Hyde Park Venture Partners and joined by Vanedge Capital.
2 min read · 01 November 2017
Montréal-based transportation app Netlift has secured $3.2 million in financing, adding to the $1.3 million in seed-stage funding raised last year. Investissement Québec, Fonds InnovExport and Real Ventures backed the latest round. They were joined by existing investors, which include BDC Capital, Cycle Capital Management and SDTC. Founded in 2012, Netlift has created a mobile solution that combines carpooling and taxi travel to help ensure a more efficient and environmentally sustainable commute. It will use the funds raised to accelerate commercialization of the app, which will see its initial roll out in Montréal.
2 min read · 31 October 2017
Vistara Capital Partners has made an undisclosed investment in Blueprint Software Systems Inc, a Toronto-based provider of solutions that accelerate and de-risk the digital transformation of large organizations. The funds raised will be used to accelerate Blueprint’s direct and channel-based sales and marketing. Founded in 2004, Blueprint helps enterprise software teams build better applications. It serves hundreds of customers in financial services, healthcare and other industries. Blueprint has raised close to $60 million from BDC Capital, Centana Growth Partners, Tandem Expansion Fund, Walsingham Growth Partners and other investors.
3 min read · 31 October 2017
Ontario Teachers' Pension Plan has agreed to sell 30 percent of its stakes in Bristol Airport and Birmingham Airport, both U.K. regional airports. The stakes will be sold to Australia's New South Wales Treasury Corp (TCorp) and Sunsuper Superannuation Fund for an undisclosed sum. With the deal's close, expected next month, Ontario Teachers', TCorp and Sunsuper will own 70 percent, 15 percent and 15 percent of Bristol Airport, and 33.8 percent, 7.2 percent and 7.2 percent of Birmingham Airport, respectively. Ontario Teachers', an investor in the two U.K. airports since 2001, also has holdings in three other major European freehold airports.
4 min read · 31 October 2017
