Canadian alternative equity firm Alaris Royalty Corp has invested about $107.1 million (US$85 million) in Sales Benchmark Index LLC (SBI), a Dallas, Texas management consulting business focused on sales and marketing. The deal, which involves the largest capital contribution by Alaris in its 13-year history, gives the investor US$11.1 million of distributions in the first 12 months following the close. Matt Sharrers, CEO of SBI, said the funds raised will support his company's growth plans. Calgary's Alaris specializes in investing risk equity that leaves control of mid-market business partners in the hands of existing owners.
4 min read · 05 September 2017
CanWel Building Materials Group Ltd (TSX: CWX) has agreed to acquire Honsador Holding LLC, a Kapolei, Hawaii distributor of building products and electrical supplies to residential, commercial and military markets. CanWel agreed to pay about $100 million (US$80 million) in cash for the company. The seller is Grey Mountain Partners, a U.S. private equity firm. Grey Mountain bought Honsador from Cyprium Partners in 2014. Vancouver-based CanWel, a distributor of building materials and related products, said the acquisition effectively doubles its sales in the United States. It plans to fund the deal in part through a $50 million bought deal equity financing.
8 min read · 05 September 2017
Caisse de dépôt et placement du Québec has provided US$113 million in loans to Carestream Dental, an Atlanta, Georgia-based maker of imaging systems and practice management software for dental offices. The Caisse said it is collaborating in the growth financing with Clayton, Dubilier & Rice (CD&R), a U.S. private equity firm. CD&R and CareCapital Advisors, a part of Hillhouse Capital Management, struck a deal to acquire Carestream Dental from Carestream Health earlier in 2017. The deal closed this month. Carestream Health has been owned by Canadian private equity firm Onex Corp since 2007.
2 min read · 05 September 2017
Canadian private equity firm Banyan Capital Partners has acquired a majority interest in Rack Attack Products Ltd, a Vancouver-based retailer focused on the sale, installation and servicing of automotive racks and hitches. No financial terms were released for the deal, which will facilitate the retirement of Chris Sandy, owner of Rack Attack since its founding in 1996. Key executives, including Graeme Paterson, the company's new president, will also invest. Banyan Managing Director Jeff Wigle said his firm's investment will back Rack Attack's plan to grow across North America and enter new markets. Banyan is an affiliate of Connor, Clark & Lunn Financial Group.
3 min read · 05 September 2017
Education technology startup Classcraft Studios Inc has secured $2.8 million in an early-stage financing. Canadian venture capital firm Whitecap Venture Partners led the round and was joined by Brightspark Ventures, MaRS Catalyst Fund and other investors. Based in Sherbrooke, Québec and New York, Classcraft has created an online educational tool that utilizes game mechanics to improve student engagement. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, the company's tool is today used by more than 2.5 million students worldwide. It will use the funds raised to scale the platform and integrate new curriculum.
5 min read · 05 September 2017
Canadian private equity firm TorQuest Partners has acquired Amenity Health Care Inc, a Winnipeg-based operator of retail pharmacies located across Western Canada. No financial terms were disclosed. Founded four years ago by Chairman David Asper and President and CEO Dalbir Bains, Amenity owns and manages a network of 32 retail pharmacies located in mostly rural and under-serviced communities. TorQuest's Daniel Sonshine said the deal will support the company's next phase of growth. Amenity is the second platform investment of TorQuest Partners Fund IV, which last year raised $925 million. Fund IV's debut deal was Can Art Aluminum Extrusion Inc.
3 min read · 05 September 2017
Toronto insurtech platform Finaeo Inc has raised $2.25 million in a seed-stage financing. The round was led by Impression Ventures, whose founder and managing partner, Christian Lassonde, will join the board. 500 Startups, Robo Ventures and iGan Partners also invested. Founded in 2016 by CEO Aly Dhalla, COO Donald Chu and CTO Aaron Alsop, Finaeo has developed a software-as-a-service platform that automates the back-office administration of insurance advisors. It will use the funds raised to hire engineering talent to further enhance the technology. Earlier this year, Impression closed its second fund at more than $30 million.
4 min read · 05 September 2017
LookBookHQ Inc, a Toronto-based content marketing automation platform, has secured about $13.6 million (US$11 million) in a Series B financing. The round, which brings the company's total funding to about $18.8 million (US$15 million), was led by U.S. venture capital firm Edison Partners. Founded in 2012 by CEO Mark Opauszky and President and CPO Nick Edouard, LookBookHQ has created software that helps organizations accelerate sales-ready prospects. It reports realizing 2.5x recurring revenue growth since last year's Series A round, also led by Edison. LookBookHQ will use the latest funds raises to scale sales and marketing and advance product innovation.
3 min read · 05 September 2017
TimePlay Inc, a Toronto-based technology media company, has raised $8 million in the first tranche of a Series A financing. The round's backers were unidentified accredited investors, with Cranson Capital Securities acting as the agent. TimePlay specializes in interactive experiences for mobile and other second screen devices. Launched in 2006 by President and CEO Jon Hussman, the company has deployed its platform technology on more than 1,000 screens across North America. It plans to use a portion of the funds raised to continue expanding its cinema business in the United States and worldwide as well as pursue new verticals.
3 min read · 25 August 2017
Canadian royalty financing firm Royalty North Partners (RNP) has agreed to fund the management buyout of Advance Wire Products Ltd (AWP), a Surrey, British Columbia designer and maker of display fixtures and merchandising solutions. RNP agreed to provide a $6.8 million loan to an entity that will acquire the company's outstanding shares. Management and RNP will also make an equity contribution. With the deal's close, Michael McAdam will become the new president of AWP. Vancouver-based RNP provides royalty financing to private, mid-market companies.
5 min read · 24 August 2017
