A consortium led by European private equity firm BC Partners has agreed to acquire CeramTec Group, a Plochingen, Germany-based supplier of advanced ceramic products. Canadian pension funds Public Sector Pension Investment Board (PSP Investments) and Ontario Teachers' Pension Plan hold a stake in the consortium. The deal's financial terms were not disclosed; however, a source told Reuters it values the company at 2.6 billion euros (US$3.1 billion), including debt. CeramTec is being sold by Cinven, which acquired it in 2013. BC Partners' Stefan Zuschke said the consortium sees potential in growing CeramTech organically and through acquisitions.
5 min read · 11 October 2017
City Wide Towing & Recovery Service Ltd recently acquired Capital Towing and Recovery Inc, a Sherwood Park, Alberta-based provider of towing and recovery services. No financial terms were released for deal, which saw Devon Poole, founder of Capital Towing, join City Wide. The add-on, which follows the March acquisition of Key Towing & Storage (Alberta) Ltd, represents a next step in City Wide becoming a "leading national company," CEO Rob Voelk said. Calgary's City Wide is backed by Canadian private equity firm Signal Hill Equity Partners. Signal Hill Equity Partners III, which raised $142 million in 2015, invested in the same year.
2 min read · 11 October 2017
HIVE Blockchain Technologies Ltd (TSX-V: HIVE) has secured $7 million in a private placement deal with Genesis Mining Ltd, an existing strategic investor. The round was closed concurrently with a $30 million bought deal financing. HIVE, a Vancouver-based developer of blockchain infrastructure, said it used some of the funds raised to acquire a second data centre in Reykjanes, Iceland. The company acquired the asset from Genesis, a cryptocurrency mining business, for $5 million, the issuance of 2 million common shares, and fees. Founded in 2012, HIVE describes its goal as "building a bridge from the blockchain sector to traditional capital markets."
4 min read · 11 October 2017
Accelerate Fund II, an Alberta early-stage angel co-investment fund, has invested an undisclosed amount in Visio Media Inc, an Edmonton digital out-of-home advertising network. Founded in 2011, Visio uses software called Elev8 in the elevators of high-rise commercial and residential properties to help advertisers reach their target audiences. Its network currently broadcasts to 200 elevators in Edmonton and Vancouver high-rises. Visio, which is led by CEO Fouad El-Masri, will use the funds raised to expand into other Canadian urban centres. Accelerate Fund II is managed by Canadian growth equity firm Yaletown Partners.
3 min read · 10 October 2017
Caisse de dépôt et placement du Québec has partnered with CKD Infraestructura México (CKD IM) to acquire 80 percent of a portfolio of eight wind and solar assets in Mexico owned by Enel Green Power SpA. The deal is valued at US$1.35 billion. It will see Enel, an Italian renewable energy business, continue to operate the portfolio and hold a 20 percent interest. The acquisition is one in a series undertaken since 2015 by the Caisse in partnership with CKD IM, a consortium of Mexican pension and infrastructure fund managers.
5 min read · 10 October 2017
Toronto-based mining company Dalradian Resources Inc (TSX: DNA) has struck a private placement and warrant exercise agreement that will generate about $84.75 million in funding. Of the total amount, $50 million will be invested by Orion Mine Finance Group, a U.S. mining-focused private equity firm. With the transaction's completion, Orion will own about 9.75 percent of the company's issued and outstanding shares. Dalradian, which is focused on developing its Curraghinalt Gold Project in Northern Ireland, said it will use the proceeds for working capital purposes.
4 min read · 10 October 2017
Toronto-based financial technology startup Payment Rails has closed a seed-stage financing, bringing its total funding to $1.1 million. The seed round was backed by angel investors, including financial executives like Scott Thompson, the former president of PayPal. With the deal, Thompson joins the company as a board advisor. Founded in 2015 by President Ferhan Patel and CEO Tim Nixon, Payment Rails has developed an API-first payouts platform that enables companies to send payments to on-demand workers, employees and suppliers globally. It is currently in public beta, with an official launch scheduled for next month.
4 min read · 10 October 2017
Toronto-based millennial-focused rewards program Drop has secured $5.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Sierra Ventures with participation from White Star Capital, ff Venture Capital, Power Corp's Portag3 Ventures and HOF Capital. Founded in 2015 by CEO Derrick Fung, Drop provides a free mobile rewards app that allows millennials to earn rewards while shopping. It at the same time helps brands gain knowledge about new consumers. Drop plans to use the funds raised to launch its technology platform in the United States.
3 min read · 10 October 2017
Canadian pension funds Public Sector Pension Investment Board (PSP Investments) and Alberta Investment Management Corp (AIMCo) have partnered with Starlight Investments to buy Parkhouse Apartment Homes, a 465-unit, multi-family property located in Denver, Colorado. No financial terms were released. The deal represents the first in a joint US$1.3 billion program of acquisitions of multi-family communities located in select markets across the United States. Starlight is a Toronto-based real estate investment and asset management firm.
4 min read · 10 October 2017
AQTWM Inc, or Aqua Terra Water Management LP, has filed a preliminary prospectus with domestic securities regulatory authorities for an initial public offering of its common shares. The IPO, which has not yet been priced, will be made through a syndicate of underwriters co-led by TD Securities Inc, Canaccord Genuity Corp and RBC Capital Markets Inc. Aqua Terra was launched in 2013 by Bregal Partners, a U.S. private equity firm, to provide oilfield water management and logistics services. It acquired multiple Canadian companies, beginning with Four Winds Energy Services Ltd (2013). Aqua Terra's Canadian office is in Calgary.
3 min read · 10 October 2017
