RNC Minerals (TSX: RNX), also known as Royal Nickel Corp, has entered into a US$4 million convertible term debt facility with Pala Investments, a Swiss mining private equity firm. Based in Toronto, RNC is focused on acquiring, exploring and developing base metal and precious metal properties. It said it will use the facility's proceeds for the on-going ramp-up of the Beta Hunt gold mine in Western Australia and other priorities. Earlier in 2017, RNC teamed up with Canadian private equity firm Waterton Global Resource Management to buy, develop and operate undervalued nickel assets.
3 min read · 19 September 2017
Montréal-based financial technology company Mobi724 Global Solutions Inc has secured $1 million in financing from the Growth & Transition Capital division of BDC Capital. The company said it will use the proceeds to accelerate its growth, including the addition of sales and marketing resources. Founded in 2008, Mobi724 provides EMV payment, card link couponing and digital marketing solutions. It is led by CEO Marcel Vienneau. Earlier this year, BDC Capital made available $1.8 billion in fresh funding for investments by Growth & Transition Capital.
3 min read · 19 September 2017
U.S. growth equity firm Edison Partners said it has exited eSentire Inc, a Cambridge, Ontario-based managed cybersecurity solutions provider. The exit, the result of a reported US$100 million-plus investment by U.S. private equity firm Warburg Pincus, generated a "meaningful return and IRR," Edison said. Edison made an initial investment in eSentire in 2013 and co-led last year's US$19.5 million financing. While the firm was invested, eSentire showed 8x revenue growth. With the Warburg deal, scheduled to close this month, Edison said it will maintain a minority ownership position in the company.
3 min read · 19 September 2017
The European affiliate of Canadian spray foam insulation manufacturer Icynene Inc has acquired Isolat France, a French polyurethane insulation distributor. No financial terms were disclosed. Icynene said the deal reinforces its strategy to grow within the European market with direct sales to contractors. President and CEO Mark Sarvary said the company will continue to pursue growth in the regional market both organically and with targeted acquisitions. Established in 1986, Toronto-based Icynene was acquired in 2014 by U.S. private equity firm Friedman Fleischer & Lowe (FFL).
3 min read · 19 September 2017
BluEarth Renewables LP has acquired four operating renewable energy facilities from Veresen Inc, a Calgary-based energy infrastructure company. No financial terms were released for the deal, which saw BlueEarth pick up three run-of-river hydro facilities in British Columbia and one wind facility in Ontario. The company, a Calgary-based renewable power producer, said the acquisition brings its portfolio to more than $1.7 billion of facilities in operation and construction. BlueEarth is majority-owned by Ontario Teachers’ Pension Plan. In 2015, Ontario Teachers’ bought the BlueEarth stakes held by ARC Financial Corp and other investors.
2 min read · 19 September 2017
Smart playground technology platform Biba Inc has raised $1.3 million in a pre-Series A financing. U.S. investor Leonite Capital led the round and was joined by Greg Zeschuk, co-founder of BioWare Corp, and Jason Kapalka, co-founder of PopCap Games Inc. Founded in 2014 by Ryan Nadel and led by CEO Matt Toner, Vancouver-based Biba develops augmented reality games and mobile apps to encourage parents and children in playground activities. To date, 1,000 Biba playgrounds have been installed across North America. The company will use the funds raised to fuel R&D, create more games, and install more playgrounds.
3 min read · 19 September 2017
Monroe Capital LLC said it was the sole lead arranger and administrative agent on the funding of a US$26.3 million senior credit facility for American Optics Inc, a Canadian optics manufacturer. The deal helped to refinance the company's existing debt facility and finance an add-on acquisition. The buy was not disclosed; however, American Optics announced earlier this year it acquired U.S.-based Endoscopy Replacement Parts Inc. Toronto-based American Optics makes, assembles and distributes replacement components used in the repair of endoscopes. It is backed by DW Healthcare Partners (DWHP), a Canadian healthcare private equity firm.
2 min read · 19 September 2017
Landmark Cinemas Canada LP, a portfolio company of Canadian private equity firm TriWest Capital Partners, has agreed to be acquired by Kinepolis Group NV, a Ghent, Belgium-based cinema chain. No financial terms were released. Founded in 1965 with a single screen, Calgary-based Landmark currently operates 44 cinemas and a total of 303 screens throughout Western Canada, Ontario and the Yukon Territory. Acquired by TriWest in 2014, the company at the same time added to its portfolio assets bought from Empire Theatres. The latter deal, which was financed by TriWest, made Landmark Canada's second largest theatre exhibition company.
3 min read · 18 September 2017
Vancouver biotechnology company Aspect Biosystems Ltd has completed its first institutional financing. The round, the value of which was not disclosed, was led by Canadian venture capital firm Pangaea Ventures and joined by Endure Capital, Pallasite Ventures and Relentless Pursuit Partners, as well as other new and existing investors. Founded in 2013, Aspect is a developer of 3D bio-printing and tissue engineering technologies.
2 min read · 18 September 2017
A new study by Osler, Hoskin & Harcourt LLP provides an updated snapshot on the representation of women in leadership roles in corporate Canada. 2017 Diversity Disclosure Practices, which examines gender diversity at the executive and board levels of TSX-listed companies, concludes that while there is a "long journey ahead, progress is being made." Several findings attest to this, including the percentage of boards without any female representation, which fell to 37 percent in 2017 from last year's 46 percent. On the other hand, the average percentage of executive officers who are women, found to be 15 percent this year, was unchanged.
2 min read · 18 September 2017
