Canada Goose Holdings Inc (NYSE/TSX: GOOS), which went public in March, has commenced a proposed secondary offering of a minimum of 12.5 million subordinate voting shares. The shares will be offered and sold by certain investors in the company, including U.S. private equity firm Bain Capital. The deal has not yet been priced. Bain, which acquired Canada Goose in 2013, will continue to hold a controlling interest upon the offering's completion, the prospectus said. Canada Goose, a Toronto-based maker of luxury outdoor apparel, raised $390 million in gross proceeds from its initial public offering.
4 min read · 26 June 2017
Public Sector Pension Investment Board (PSP Investments) has acquired a majority interest in Stahmann Farms Enterprises, an Australian grower, processor and marketer of pecans. No financial terms were disclosed. Based in Toowoomba, Queensland, Stahmann Farms was founded in 1971 as an Australian branch of the Stahmann family pecan farm originally established in New Mexico in 1932. It has been independent since its spin-off in 2006. Stahmann Farms said it will use its partnership with the Canadian pension fund to help increase production capacity and improve processing facilities in New South Wales and Queensland.
2 min read · 26 June 2017
Alasko Foods Inc has acquired FooDelicious Inc, a packaged frozen food company based in Ingersoll, Ontario. No financial terms were released. Alasko, a Montréal-based supplier of branded and private-label frozen fruits and vegetables, said the deal will strengthen its packing and distribution capabilities. Alasko serves food service, industrial and retail channels across Canada. It was acquired in 2010 by Catterton Partners, a U.S. consumer-focused private equity firm. Last year, the company also secured an investment from Canadian investors Avrio Capital and Fondaction CSN.
2 min read · 23 June 2017
Computational fluid dynamics (CFD) solutions provider Envenio Inc has raised $1.3 million in financing. Canadian venture capital firm Celtic House Venture Partners, Green Century Investment and New Brunswick Investment Fund (NBIF) were the round's investors. Launched in 2010, Fredericton-based Envenio is the creator of EXN/Aero, an on-demand, cloud-hosted CFD software tool that enables rapid, high-accuracy engineering and scientific computer simulations. Led by CEO Ian McLeod, it plans to use the funds raised to expand its sales and engineering teams and advance its global strategy. Celtic House Partner Tom Valis has joined the company's board.
4 min read · 23 June 2017
U.S. media intelligence services provider Meltwater has acquired Infomart, the media monitoring and analytics platform of Canadian publisher Postmedia Network Canada Corp (TSX: PNC.A/B). In a separate statement, Postmedia said the deal's purchase price is $38.25 million. It is expected to close in August. Meltwater, which is based in San Francisco, said the transaction will expand its presence and offering in North America. The company earlier this year closed a US$60 million debt financing with Silicon Valley Bank and Vector Capital to support its acquisition strategy. Postmedia in 2016 struck a deal with bondholders to reduce its debt.
3 min read · 23 June 2017
The Fonds de solidarité FTQ disclosed an investment of about $11.6 million (US$8.75 million) in Repare Therapeutics Inc, a Montréal developer of precision oncology drugs that target specific vulnerabilities of tumour cells. The investment formed part of Repare's $90 million (US$68 million) Series A financing, co-led by Versant Ventures and MPM Capital. The Fonds said the deal is part of its life sciences strategy. The strategy combines commitments to funds like Versant Venture Capital VI, which raised US$400 million earlier this year, and direct investments.
3 min read · 22 June 2017
Export Development Canada has provided a $6.5 million contract financing credit facility to Corvus Energy Inc, a Canadian designer and maker of energy storage systems and lithium-ion battery solutions for hybrid and electric marine applications. The funds raised will allow the company to fulfill export contracts, primarily for hybrid ferries in Europe. Founded in 2009, Richmond, British Columbia-based Corvus has secured financing from Statoil Technology Invest, the venture capital arm of Norwegian energy company Statoil ASA, and Green Marine Capital.
3 min read · 22 June 2017
Fairfax Africa Holdings Corp (TSX: FAH.U) has agreed to invest a minimum of US$130 million in Atlas Mara Ltd, a financial services institution focused on the region of sub-Saharan Africa. The deal will anchor a broader strategic investment in Atlas Mara and is expected to give Fairfax Africa an interest of at least 35 percent. The proceeds will be used by Atlas Mara to invest in sub-Saharan banks and other priorities. Fairfax Africa, an affiliate of Canada’s Fairfax Financial Holdings Ltd, raised US$500 million earlier this year to invest public equity, private equity and debt in African businesses.
4 min read · 22 June 2017
Toronto cloud accounting platform Hubdoc Inc has secured about $4.85 million in seed-stage financing. The round was led by Canadian venture capital firms BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors. Hubdoc is led by co-CEOs Jamie Shulman and Jamie McDonald.
3 min read · 22 June 2017
Itafos (TSX-V: IFOS), a producer of phosphate-based fertilizers and related products, recently completed a private placement transaction, raising US$34.05 million. The key investors were Zaff, a U.S. distressed private equity firm and Itafos' majority owner, Pala Investments and J.P. Morgan Asset Management. The proceeds are being used to recommission Itafos' operations in Brazil and other priorities. Itafos was acquired by Zaff last October. The company recently redomiciled from Canada to the Cayman Islands and delisted its securities from the Toronto Stock Exchange, moving them to the TSX Venture Exchange.
6 min read · 22 June 2017
