Small and medium-sized manufacturing companies in Canada that have adopted digitization in their production forecast higher growth and enjoy increased productivity and lower operating costs, according to a new study from Business Development Bank of Canada (BDC). However, the study, based on a Canada-wide business survey, found that 42 percent of small manufacturers have not yet "initiated their digital shift." Another 39 percent are currently implementing projects, while 17 percent are preparing to do so. Only 3 percent of companies have fully digitized their production.
3 min read · 29 May 2017
Angel organizations deployed more than $157.2 million across Canada in 2016, up 15 percent year over year, according to a survey published by the National Angel Capital Organization (NACO). The survey of 35 angel groups representing some 3,300 active angel investors, found disbursements went to 418 investments last year, up almost 50 percent compared to 2015. Angels were primarily active in information technology sectors, which accounted for 45 percent of total deals in 2016 and 26 percent of total dollars invested. However, the survey found angels put most of their money in life sciences sectors, which accounted for 15 percent of deals and 45 percent of dollars.
6 min read · 29 May 2017
DW Healthcare Partners (DWHP) earlier this month acquired Champion Manufacturing Inc, an Elkhart, Indiana designer and maker of patient seating solutions for healthcare environments. No financial terms were disclosed. The seller was U.S. private equity firm Levine Leichtman Capital Partners, which acquired Champion in 2013. DWHP, a Toronto-based healthcare private equity firm, said its partnership with the company will focus on "expansion opportunities into new verticals nationally and globally.” As reported by PE Hub Canada, DWHP in March raised US$295 million for this fourth fund.
2 min read · 29 May 2017
Stingray Digital Group Inc (TSX: RAY.A-B) has acquired C Music Entertainment Ltd, a London, United Kingdom-based satellite and cable television channel focused on classical and cinematic music. No financial terms were released. Stingray, a business-to-business multi-platform music company, said the deal complements its existing classical and music video offering. Montréal-based Stingray raised $180 million in an initial public offering in 2015. It continues be a portfolio company of Caisse de dépôt et placement du Québec, Novacap, Telesystem and other investors.
3 min read · 29 May 2017
Avicanna Inc, a biotechnology startup focused on the medical cannabis industry, recently secured $1.6 million in seed-stage financing. The investors in the round were not disclosed. Launched in 2016, Toronto-based Avicanna said the funds raised will allow the company to execute on its business plan, including the clinical development of its primary product line, PURA Elements, a cannabinoid delivery system. Avicanna, which is led by CEO Aras Azadian, also announced its acceptance as a resident in the Johnson & Johnson Innovation-backed JLABS incubator at MaRS Discovery District.
3 min read · 29 May 2017
Vancouver-based online event registration software company ePly has been acquired by MemberClicks, an Atlanta, Georgia-based provider of membership management software for small-staff associations. No financial terms were disclosed. Established in 2001, ePly manages event registrations for more than 600 organizations across North America. MemberClicks said it will continue to develop its product lines, as well as ePly's platform, and identify opportunities to benefit both customer bases. MemberClicks is backed by U.S. growth equity firms Five Elms Capital and Level Equity.
3 min read · 29 May 2017
Waterloo network policy control solutions provider Sandvine Corp (TSX: SVC) has agreed to be acquired by Vector Capital. The U.S. private equity firm will acquire all of the company's shares, other than certain shares held by management, for $3.80 per unit, which implies an equity value for Sandvine of about $483 million. Dave Caputo, president and CEO of Sandvine, said the partnership with Vector will allow the company to pursue a number of long-term growth opportunities "more aggressively." Founded in 2001, Sandvine provides its technology to more than 300 networks in more than 100 countries. It was venture-backed before going public in 2006.
7 min read · 28 May 2017
Jamieson Wellness Inc, a Canadian vitamin and natural health products company, has filed a preliminary prospectus with domestic securities regulators for an initial public offering of common shares. The IPO, which has not yet been priced, is expected to include a secondary offering for certain shareholders, including U.S. private equity firm CCMP Capital Advisors, which acquired Jamieson in 2014 for more than $300 million. Reuters reported last year that CCMP was planning to sell the company. BMO Capital Markets and RBC Capital Markets are the IPO's joint bookrunners. Founded in 1922, Jamieson is headquartered in Windsor, Ontario.
2 min read · 26 May 2017
U.K. private equity firm Apax Partners has closed its sale of interest held in Garda World Security Corp, a Montréal-based security services provider. No financial terms were disclosed for the deal, which was announced in March. The buyers were U.S. private equity firm Rhône Capital, which now holds a 61 percent stake, and GardaWorld's founder, Chairman and CEO Stephan Crétier. Apax led a consortium that paid $1.1 billion to acquire GardaWorld in November 2012. Crétier said the business doubled in size in terms of revenue and employees during Apax's period of ownership.
3 min read · 26 May 2017
3 min read · 26 May 2017
