Laval, Québec-based biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has secured a $100 million (US$80 million) line of credit from an affiliate of Thomvest Asset Management, the investment vehicle of Canadian billionaire Peter Thomson. The company, which specializes in bioseparation and the development of plasma-derived and small-molecule therapeutics, said the facility's proceeds will support it prior to the expected flow of revenues from sales of plasminogen and other monetization events. Led by President and CEO Pierre Laurin, ProMetic earlier this year raised funding from both Thomvest and California Capital Equity.
4 min read · 23 October 2017
Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison’s total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.
6 min read · 20 October 2017
Canadian private equity firm Ardenton Capital Corp has invested in Comtrad Strategic Sourcing, a Toronto-based sourcing and logistics company. No financial terms were released for the deal, Ardenton’s fourth in Canada in the past twelve months. Established in 1977, Comtrad specializes in sourcing products from Asian suppliers to original equipment manufacturers and distributors with operations in North America. Comtrad President and CEO Jim Long said the partnership with Ardenton will help the company expand its product and service offerings.
2 min read · 20 October 2017
Toronto digital solutions provider Bluerush Media Group Corp (TSX-V: BTV) has closed a private placement deal, generating proceeds of $1.3 million. Round13 Capital Founders Fund, an affiliate of Canadian venture capital firm Round13 Capital, invested $750,000. As a result, the fund acquired about 25 percent of issued and outstanding shares and is entitled to nominate a board member. Founded in 2004, Bluerush provides marketing and sales software that helps organizations engage with their customers. It will use the funds raised to ramp up sales and R&D activities that support the company's development "toward a recurring revenue model."
5 min read · 20 October 2017
Avison Young Inc has agreed to buy WHR Property Consultants LLP, a commercial property consultancy business based in Manchester, United Kingdom. No financial terms were released for the deal, which is expected to close within 30 days. The acquisition will bring Avison's total offices in North America and Europe to 81, compared to 11 nine years ago. Avison, a Toronto-based provider of commercial real estate services, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by Parallel49’s predecessor, Tricor Pacific Capital.
6 min read · 20 October 2017
Revival Gold Inc (TSX-V: RVG), a Toronto-based gold exploration and development company, has completed a private placement financing, raising about $9 million in gross proceeds. Orion Mine Finance Group, a U.S. mining private equity firm, invested in the deal. Additionally, Orion has agreed to become the company's investment partner, providing debt, equity or metal-streaming funding for acquisition and development initiatives valued at US$25 million or greater. Revival holds interests in Idaho's Beartrack Gold Project and Arnett Creek Gold Project and Utah's Diamond Mountain Phosphate Project.
6 min read · 20 October 2017
Vertex Resource Group Ltd, a Sherwood Park, Alberta-based provider of environmental and industrial services, has completed an $85.8 million qualifying transaction on the TSX Venture Exchange. The deal, which saw Vertex amalgamate with capital pool company Vier Capital Corp, allowed Vertex to begin trading on the exchange this week. Canadian private equity firm 32 Degrees Capital acquired about 19.41 percent of issued and outstanding shares as part of the qualifying transaction. Founded in 1976, Vertex provides a range of project services to oil and gas, utilities, telecommunications, forestry, agriculture and other industries.
6 min read · 19 October 2017
AdHawk Microsystems Inc, a maker of advanced micro-systems for human-computer interaction, has raised about $5.7 million (US$4.6 million) in a Series A financing. The round was led by Intel Capital, a U.S. venture capital firm, with participation from Canadian firm Brightspark Ventures. Founded in 2015, AdHawk has developed a camera-free eye-tracking system that enables precise, high-speed tracking in headsets and other wearable devices. Led by CEO Neil Sarkar, one of the Kitchener, Ontario-based startup's co-founders, it plans to use the funds raised to commercialize its technology for consumer virtual reality-augmented reality devices.
5 min read · 19 October 2017
Meituan-Dianping, a Chinese service-focused e-commerce platform, has raised $4 billion in Series C financing. The round was led by China’s Tencent Holdings, with participation from the Priceline Group and a global syndicate of investors that includes Canada Pension Plan Investment Board. The deal values the company at $30 billion, Reuters reported. Founded in 2003, Meituan-Dianping connects more than 280 million users with roughly 5 million local merchants.
6 min read · 19 October 2017
Canadian private equity firm Bonnefield Financial has secured an additional $70 million commitment for its fourth farmland fund. The money came from a large Canadian pension plan and brings capital committed to Bonnefield Canadian Farmland IV to $130 million in total. Fund IV, which will continue raising capital, provides Canadian producers with sale-leaseback solutions to grow, reduce debt, and help transition their farm to the next generation, Bonnefield CEO Tom Eisenhauer said. Toronto-based Bonnefield, which now oversees more than $500 million in assets, has a coast-to-coast portfolio that reflects about 100,000 acres, worked by 70 farm families.
2 min read · 19 October 2017
