Ottawa compliance software and data management solutions provider Assent Compliance Inc has secured $40 million in a Series B financing, according to a report by TechCrunch. The round was led by U.S. venture capital firm Greenspring Associates. It was joined by Volition Capital, OpenText Enterprise Application Fund, BDC Capital, National Research Council of Canada, Royal Bank of Canada and other investors that backed the company's $20 million Series A round last year. Founded in 2005, Assent provides data-focused modular solutions to enhance corporate social responsibility, product compliance and vendor management programs, along with compliance training and education. It plans to use the funds raised for expanding sales and marketing efforts, TechCrunch said. Assent is led by CEO Andrew Waitman, formerly a managing partner at Canadian venture capital firm Celtic House Venture Partners.
1 min read · 14 July 2017
Resolver Inc has acquired Global AlertLink, a Charleston, West Virginia-based software company focused on incident management, emergency notification and risk management. No financial terms were released. Resolver, a Toronto-based provider of risk and incident management software, said the deal expands its emergency notification, business continuity and disaster recovery capabilities. It was backed by a $20 million financing raised last month. The investors included the company's majority owner, Canadian private equity firm Klass Capital. In 2016, Resolver bought assets from New Zealand’s Wynyard Group Ltd.
3 min read · 13 July 2017
Toronto aesthetic technology company Venus Concept Ltd has raised $38 million in an equity investment. The transaction was led by EW Healthcare Partners and joined by HealthQuest Capital and Madryn Asset Management. As a result, EW Healthcare and HealthQuest will each receive one seat on the board. Founded in 2009, Venus Concept develops and makes non-invasive devices for the global medical aesthetics market. Led by CEO Domenic Serafino, it will use the funds raised to grow its subscription-based business model and continue to develop its products. The company secured $10 million from Longitude Capital in 2014.
3 min read · 13 July 2017
Champion Iron Ltd (TSX: CIA) has secured about $230 million (US$180 million) in conditional debt financing commitments from Caisse de dépôt et placement du Québec and Sprott Resource Lending Corp. Of this amount, US$100 million will be provided by the Caisse in the form of a subordinated loan. Shareholders will vote on the deal in August. Champion intends to use the funds raised to resume operations at its Bloom Lake iron ore mine in Québec. It acquired the mine and related assets last year with the help of $30 million in financing from Wynnchurch Capital, Resource Capital Funds and other investors.
7 min read · 13 July 2017
Canadian telecommunication network services provider Telecon Inc has closed a $70 million equity financing. The deal was led by Clearspring Capital Partners, a Canadian private equity firm. As a result, Clearspring will hold a 35 percent interest in the company and Managing Director Lawrence Stevenson will become board chairman. Caisse de dépôt et placement du Québec, which owns a 30 percent interest, and Telecon management, led by President and CEO André Héroux, also invested. Montréal's Telecon, which is also backed by Capital régional et coopératif Desjardins, said the funds raised will allow it to grow its Canadian footprint and strengthen the capital structure.
5 min read · 13 July 2017
Rover.com, a Seattle, Washington network of pet sitters and dog walkers, has secured US$65 million in funding. The round was led by Spark Capital and joined by new and existing investors, including Canadian venture capital firm OMERS Ventures. Earlier this year, Rover.com acquired DogVacay, a U.S. online care service for pet owners that was previously backed by OMERS Ventures. Founded in 2011, Rover.com said it expects to see a 200 percent increase in net revenue in 2017. It will use the funds raised for global expansion, brand awareness and to launch new services.
4 min read · 13 July 2017
Alpenglow Rail LLC, a U.S. freight rail company, has acquired VIP Rail LLC, a short line rail business located in Sarnia, Ontario's chemical valley. No financial terms were disclosed for the acquisition, Alpenglow's first with the backing of Stonecourt Capital, a U.S. private equity firm. Jon McEachran, president of VIP Rail, said the deal will create growth opportunities for his company, which currently accesses markets in Ontario, Québec and the United States. Denver, Colorado's Alpenglow Rail is seeking acquisitions of and partnerships with other short line railroads and transportation businesses.
3 min read · 13 July 2017
Canadian private-markets investor Northleaf Capital Partners has hired Robert Weiss as a Chicago-based senior advisor to its private credit team. Prior to joining the firm, Weiss was recently retired from Sankaty Advisors, now Bain Capital Credit, where he served as managing director and head of the Chicago office, and was responsible for deal activity related to the firm's mid-market direct lending business. Last November, Toronto-based Northleaf raised more than US$1.4 billion for its global private credit program and acquired a stake in Antares Holdings.
1 min read · 12 July 2017
Aquatic Informatics Inc has amalgamated with WaterTrax and Linko Technology, both software providers to water and wastewater utilities and agencies. No financial terms were disclosed. Aquatic Informatics, a Vancouver-based company in the same vertical, said the merger creates a complete suite of software solutions for managing water resources, water and wastewater compliance. The deal was backed by XPV Water Partners, a Canadian water-focused private equity firm. XPV acquired the majority stake held in Aquatic Informatics by Canadian impact venture capital firm Renewal Funds, an investor since 2010. The company is led by President and CEO Ed Quilty.
4 min read · 12 July 2017
Digital Map Products Inc has acquired DMTI Spatial Inc, a Markham, Ontario provider of location-based big data, data visualization and analytics solutions, from Neopost Canada. No financial terms were released. DMP, a geospatial mapping technology and intelligence company, said the deal supports the expansion of its geographic footprint, broadens its suite of solutions, and strengthens its client base. Based in Irvine, California, DMP was recapitalized last year with the help of a $36.3 million investment led by Silversmith Capital Partners, a growth equity firm.
4 min read · 12 July 2017
