Toronto luxury outdoor apparel maker Canada Goose Holdings Inc (NYSE/TSX: GOOS) has priced its previously announced secondary offering of subordinate voting shares at US$20.75 per unit. At this price the offering, which is being made by certain investors in the company, including U.S. private equity firm Bain Capital, will generate as much as US$298.3 million in proceeds. Bain, which acquired Canada Goose in 2013, will continue to hold a controlling interest following the sale, the prospectus said. Canada Goose raised $390 million from its initial pubic offering earlier this year.
3 min read · 28 June 2017
Canadian specialty finance firm Crown Capital Partners has provided a $25 million term loan to Ferus Inc, a Calgary supplier of energized fluids (liquid nitrogen and liquid carbon dioxide) and related logistical and operational services to the oil and gas industry. Founded in 2002, Ferus operates six production plants and maintains a logistics fleet as well as wellsite storage units to facilitate delivery of fracturing inputs. The company will use the funds raised to repay an existing senior credit facility and support growth. Earlier in 2017, Crown provided $30 million in funding to Marquee Energy Ltd and $15 million to Solo Liquor Holdings Ltd.
3 min read · 28 June 2017
500 Startups Canada has invested in the seed-stage financing of Fluent.ai Inc, a Montréal-based artificial intelligence startup focused on developing speech recognition technology. The round, announced in May, was increased to $2 million as a result. Its other investors include BDC Capital, Danhua Capital, Creative Destruction Lab and Maple Leaf Angels. Fluent.ai also announced that British AI entrepreneur William Tunstall-Pedoe has joined its advisory board. Tunstall-Pedoe founded Evi Technologies, acquired by Amazon in 2012. He also contributed to Fluent.ai's seed round.
3 min read · 28 June 2017
Canadian educational publisher Nelson Education Ltd has agreed to acquire the technology assets of Edusight Inc, a Toronto developer of an analytics and digital portfolio product used as a resource in educational settings. No financial terms were released. Nelson said the strategic deal represents its first purely digital acquisition and will help build its ecosystem of learning content and tools. Founded in 2013 by President Garros Li, CEO Vikram Somasundaram and CTO Qiming Weng, Edusight was funded by Y Combinator's Imagine K12.
3 min read · 28 June 2017
Canadian alternative equity firm Alaris Royalty Corp has invested US$20 million in Accscient LLC, an Atlanta, Georgia-based provider of information technology staffing, consulting and outsourcing services. The deal gives Alaris an annualized distribution of US$3 million and will allow Accscient to pay down debt and access working capital. Alaris also said it received $9.8 million in proceeds from KMH LP, a Toronto-based healthcare services provider, following the sale of most of the company's Canadian clinics to a third party. A negotiated deal will allow Alaris to conclude the partnership and collect amounts outstanding.
6 min read · 28 June 2017
Glooko, a U.S. diabetes data management platform, has secured $35 million in Series C financing. The round was led by Canadian growth equity firm Georgian Partners and joined by new and existing investors, including Canaan Partners, Medtronic and Social Capital. Founded in 2010, Glooko is a developer of remote patient monitoring technology.
3 min read · 28 June 2017
Canada Pension Plan Investment Board (CPPIB) has partnered with Encino Energy LLC to form Encino Acquisition Partners (EAP), a platform for making acquisitions of oil and gas assets in the United States. The Canadian pension fund has committed up to US$1 billion to the platform, while Houston-based Encino has committed US$25 million. The latter will originate, evaluate and execute deal opportunities, as well as manage the assets owned by EAP. It will target large, high-quality assets with an established base of production in mature U.S. basins.
3 min read · 28 June 2017
Flashstock Technologies Inc, a Toronto developer of custom visual content for marketers, has agreed to be acquired by Shutterstock Inc (NYSE: SSTK). The deal, expected to close next month, will see Shutterstock pay about $66 million (US$50 million) in cash for the company. Shutterstock, a U.S. online marketplace for digital images, videos and music, said the deal will help it offer a high-quality custom content product to its 1.7 million customers. Founded in 2013 and led by CEO Grant Munro, Flashstock raised most of its funding from angel investors, many of them senior business executives.
3 min read · 28 June 2017
Glooko, a U.S. diabetes data management platform, has secured US$35 million in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners and joined by new and existing investors, including Canaan Partners, Medtronic and Social Capital. Founded in 2010, Glooko is a developer of remote patient monitoring technology. It currently helps more than one million patients served by 6,000 providers in 27 countries. The Mountain View, California-based company plans to use the funds raised to expand market access and deepen its expertise in data analytics.
3 min read · 27 June 2017
Canadian big data warehouse company PHEMI Inc has raised $10 million in follow-on financing. CTI Life Sciences Fund, BDC Capital and Yaletown Partners, which participated in PHEMI’s $12.2 million Series A financing in 2015, co-led the latest round. They were joined by new investors Quark Venture and GF Securities Co Ltd. Founded in 2013, PHEMI helps data-driven businesses in life sciences and other sectors to unlock and share information without compromising privacy.
3 min read · 27 June 2017
