U.S. private investment firm Oaktree Capital Management has increased its ownership of common shares in SunOpta Inc (Nasdaq: STKL, TSX: SOY), a Canadian specialty foods producer. In May, Oaktree acquired about 1.4 million shares at US$8 per unit, growing its total interest in the business to approximately 16.16 percent of outstanding shares. Last year, Oaktree invested $85 million in the form of exchangeable preferred shares in Toronto-based SunOpta, which was intended to help reduce the company's second lien debt and enhance flexibility.
4 min read · 22 June 2017
Canadian private equity firm Lynx Equity has acquired G&W Commercial Interiors, a Seattle, Washington provider of commercial flooring products, installation and related services in the U.S. Pacific Northwest. No financial terms were released. With the deal, Steve Woodman, the company's vice president, has assumed the role of president. The investment is Lynx's second in the U.S. flooring products industry. Toronto-based Lynx is focused on acquiring small businesses from owners looking to retire. Last year, PE Hub Canada profiled Brad Nathan, the investor’s founder and president.
3 min read · 22 June 2017
Canada’s life sciences sector is on a roll. Current levels of venture capital investment are unprecedented. This week another major deal was announced, with Repare Therapeutics, a Montréal developer of precision oncology drugs, securing about $90 million in a Series A financing. One of the sector’s other big stories is the IPO of biotherapeutics provider Zymeworks. The company, which last month raised about $86 million on the Toronto and New York exchanges, is now being talked about as Canada’s next biotech anchor company.
4 min read · 22 June 2017
4 min read · 22 June 2017
Mediagrif Interactive Technologies Inc (TSX: MDF) has agreed to acquire substantially all of the assets of Orckestra Inc, a Montréal provider of digital unified and omnichannel commerce solutions for the retail and manufacturing industry. No financial terms were disclosed for the deal, which is expected to close this month. Mediagrif, a Canadian information technology business, said the acquisition will help it gain a footprint in the digital retail sector. Founded in 2006, Orckestra is backed by Fonds de solidarité FTQ, Fondaction CSN and W Investments. Including its Series B financing, closed in 2015, the company raised about $20 million.
3 min read · 21 June 2017
Calgary biotechnology company Resverlogix Corp (TSX: RVX) has closed a $10 million equity offering. Eastern Capital and Shenzhen Hepalink Pharmaceutical Co Ltd, existing investors in the company, accounted for most of the funding. The deal increases Eastern's stake to up to 26.3 percent of outstanding shares, and Hepalink's stake to up to 14.9 percent. The offering's proceeds will be used by Resverlogix to fund research and clinical trial activities related to its treatments for cardiovascular disease and other conditions, among other priorities. Founded in 2001, the company is also backed by U.S. venture capital firm NGN Capital.
5 min read · 21 June 2017
Toronto cloud accounting platform Hubdoc Inc has secured about $6.4 million (US$4.85 million) in a 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. Founded in 2011, Hubdoc has developed an accounting application that uses cloud computing and machine learning to collect and analyze documents for financial reporting, reconciliation and audit proofing. It will use the funds raised to scale growth globally, accelerate innovation and hire new team members. Hubdoc is led by co-CEOs Jamie Shulman and Jamie McDonald.
3 min read · 21 June 2017
U.S. private equity firm Sverica Capital Management has acquired iWave Information Systems Inc, a Charlottetown, Prince Edward Island prospect research software company that provides fundraising intelligence to healthcare, education, and non-profit organizations. No financial terms were disclosed. Sverica partnered with Ross Beattie and iWave CEO Gerry Lawless in buying the company from Jamie Hill, iWave's former top executive. Beattie, formerly CEO of HGS Canada Inc, will join the company as executive director and vice chairman. Established in 1991, iWave currently serves more than 2,000 client organizations worldwide.
3 min read · 21 June 2017
Canadian online alternative investment platform Crowdmatrix Inc said it will provide investors with access to private technology companies through a partnership with Plaza Ventures, a Canadian venture capital firm. The partnership will see accredited investors use Crowdmatrix's platform to invest in companies via Plaza Ventures Fund IV. Plaza is currently raising the micro-fund. By offering Plaza and other private equity funds on its site, Crowdmatrix said it hopes to open up the asset class to small investors. One of Plaza's portfolio companies, SweetIQ Analytics Corp, was acquired earlier this year.
2 min read · 20 June 2017
Ottawa fraud detection solution MindBridge Analytics Inc recently secured $4.3 million in a seed-stage financing, according to report by the Globe and Mail. The round was backed by Canadian venture capital firm Real Ventures and U.S. firm 8VC, the report said. MaRS Investment Accelerator Fund is among the company's other investors. Founded in 2015, MindBridge provides advanced anomaly detection solutions. Its flagship product, Ai Auditor, acquires and analyzes financial data to pinpoint unusual activity using a combination of machine learning, data science and artificial intelligence technologies.
1 min read · 20 June 2017
