Roost Inc, a Sunnyvale, California-based developer of smart home technology, has raised US$10.4 million in a Series B financing. The round included investments from insurance companies led by Aviva Ventures and was joined by Desjardins General Insurance Group, a Canadian property and casualty insurance provider, among others. Roost provides connected solutions that give early warnings of danger or property damage. Desjardins Insurance, an affiliate of Montréal-based Desjardins Group, has a partnership with the company to deploy its home telematics solution.
4 min read · 24 August 2017
The U.K. affiliate of Canada Life, a subsidiary of Great-West Lifeco Inc, has agreed to acquire Retirement Advantage Group, a London-based specialist in the British retirement income market. No financial terms were released for the deal, which is expected to close in the fourth quarter. Great-West Lifeco, a Winnipeg financial services holding company, said the acquisition will strengthen Canada Life's position as a leading U.K. insurer. Retirement Advantage was created in 2015 when TDR Capital, a British private equity firm, merged the retirement income and equity release divisions of MGM Advantage Life Ltd and Stonehaven UK Ltd.
4 min read · 24 August 2017
Tantalus Systems Corp has acquired Energate Inc, an Ottawa-based provider of interactive demand management solutions. The deal's financial terms were not disclosed. Tantalus, which has principal offices in Burnaby, British Columbia, and Raleigh, North Carolina, said the acquisition expands its smart grid application portfolio as well as its addressable market opportunity. Founded in 2004, Energate has been backed by Cycle Capital Management, among other investors. Tantalus is also venture-backed. Earlier this year, it raised $6 million in follow-on funding from several investors, including CT Innovations and Vareco Holdings.
3 min read · 24 August 2017
The Indian affiliate of U.S. venture capital firm Sequoia Capital has agreed to acquire Faces Cosmetics Inc, a Canadian cosmetics business, Reuters reported. No financial terms were released for the deal, which includes Faces' global subsidiaries and brand, the report said. Sequoia is buying the company from an affiliate of Everstone Capital, an Indian private equity firm. Established in 1974, Vaughan, Ontario-based Faces manufactures and retails colour cosmetics, makeup, skin care products and accessories for men and women.
1 min read · 23 August 2017
Canada's private equity market saw a major rebound in deal-making in the first half of 2017, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). A total of $13.9 billion was invested in 277 deals at the end of June, which already surpasses the $13.8 billion invested in the whole of 2016. Much of the activity was concentrated in Q2 2017, when $8.9 billion went to 170 deals, making it the most active quarter since Q3 2015. Exit activity was also prominent in H1 2017. The period saw 80 exits, including the GardaWorld sponsor-to-sponsor deal and initial public offering of Canada Goose, exceeding the number in each of the last four years.
4 min read · 23 August 2017
Venture capital investment in Canadian technology companies sustained a strong pace in the first half of 2017, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). VC funds invested a total of $1.6 billion in 260 financing rounds at the end of June, not far behind the $1.7 billion invested in 275 rounds in H1 2016. Activity in the second quarter was especially robust, with $913 million going to 131 rounds, up 28 percent from Q2 2016. CVCA said H1 2017 was also notable for the return of major venture-backed exits in Canada, led by the sale of Luxury Retreats to Airbnb and initial public offerings of Real Matters and Zymeworks.
4 min read · 23 August 2017
The Business Development Bank of Canada (BDC) currently provides financing or advisory services to a record 49,000 Canadian small business owners, up 17 percent from the year before. That's according to BDC’s 2016-17 annual report, released today. Montréal-based BDC, which provides entrepreneurs with risk funding through BDC Capital's venture capital, mezzanine and growth equity arms, has in the past year unveiled several new initiatives. They include a $50 million commitment to women-run technology companies and the launch of a second $135 million clean technology fund. BDC said its consolidated net income stood at $465 million last year.
4 min read · 23 August 2017
Shareholders of Nord Anglia Education Inc (NYSE: NORD) have voted in favour of the company's acquisition by Canada Pension Plan Investment Board (CPPIB) and Baring Private Equity Asia. The deal, announced in April, values Nord Anglia at US$4.3 billion, including debt. With the deal's forthcoming close, the company will be delisted from the New York Stock Exchange. Based in Hong Kong, Nord Anglia operates 46 international schools located in China, Europe, the Middle East, Southeast Asia and North America.
3 min read · 22 August 2017
Namakor Holdings, Caisse de dépôt et placement du Québec and the Québec Manufacturing Fund have acquired Gelpac Inc, a Marieville, Québec-based manufacturer and distributor that specializes in packaging solutions for industrial and consumer products. No financial terms were released. The deal, a business transfer, saw the three investors appoint Alain Robillard as Gelpac's president and general manager. Established in 1956, Gelpac has customers in North America's food, agriculture, construction, retail and pharmaceutical sectors. The Caisse invested in the company through Fonds Relève CDPQ, which backs Québec succession projects.
4 min read · 22 August 2017
Sprott Resource Holdings Inc (TSX: SRHI) has agreed to acquire 70 percent of the outstanding equity of SC Minera Tres Valles, which owns the Minera Tres Valles copper mining and refining complex in Salamanca, Chile. SRHI agreed to buy the stake from Vecchiola SA, a Chilean mining services and supply company, for US$39.9 million in cash and shares. The deal is expected to close in the fourth quarter of fiscal 2017. SRHI, a Toronto-based resource holding company, was formed earlier in 2017 as a result of the merger of Canadian private equity firm Sprott Resource Corp with Adriana Resources Inc.
5 min read · 22 August 2017
