The private equity group of Brookfield Asset Management has closed its buy of an 85 percent controlling stake in Greenergy Fuels Holdings Ltd, a supplier of road fuels to consumers in the United Kingdom. The terms of the deal, announced in February, were not released; however, as PE Hub Canada has reported, Brookfield expects to invest about £210 million (US$260 million) of equity in the acquisition. London-based Greenergy is one of five major platform investments made by Brookfield Capital Partners IV, which raised US$4 billion last year. Another investment, Brazil's BRK Ambiental, closed last month.
2 min read · 11 May 2017
Invenia, a Canadian machine learning platform, has raised about $6.8 million (US$5 million) in a Series A financing. U.S. venture capital firm Zetta Venture Partners led the round. Based in Winnipeg, Invenia has developed an autonomous machine learning system that uses data and algorithms to improve electrical grid efficiency and reduce CO2 emissions. The company has built a team of researchers from universities, including the United Kingdom's Cambridge University, where it recently opened a second office. Led by CEO Matthew Hudson, Invenia will use the funds raised to scale its solution.
2 min read · 10 May 2017
Sheridan Capital Partners has acquired Canadian Orthodontic Partners (COP), a Toronto-based provider of back-office support to orthodontic practices in Canada. No financial terms were disclosed. COP, which also offers financing to support treatment for patients, currently provides management services to locations in five provinces. Dr. John McManaman, chief orthodontic officer at COP, said the partnership with Sheridan, a U.S. private equity firm, will help accelerate the company's growth across Canada.
2 min read · 10 May 2017
Canadian investment firm PenderFund Capital Management has hired Maria Pacella as senior vice president, private equity. In the role, Pacella will focus on launching a private equity fund that targets growth opportunities in the technology sector. Pacella, who has 16 years of experience of investing in emerging technology companies, joins PenderFund from Shoreline Ventures, where she served as a venture partner. She previously held senior executive roles at Beedie Capital Partners and GrowthWorks. PenderFund has its headquarters in Vancouver.
3 min read · 10 May 2017
Canadian venture capital firm Emerillon Capital and U.S. firm Sanderling Ventures have provided seed-stage financing to PreciThera Inc, a Montréal precision medicine company. No financial terms were released. Recently founded by Dr. Philippe Crine and Dr. Susan Schiavi, PreciThera is focused on designing and developing biological agents for the treatment of orphan diseases. The drug development team at Sanderling's Therillia Development Company Inc will support the company as it advances its program. Emerillon and Sanderling said the seed round will help launch PreciThera and prepare it for a Series A backed by Canadian and foreign investors.
3 min read · 10 May 2017
Austin, Texas real estate technology company Opcity has raised US$27 million in a Series A financing. The round was led by Icon Ventures with participation from Georgian Partners, a Canadian growth equity firm, and LiveOak Venture Partners. Founded in 2015, Opcity uses proprietary data sets and applied analytics to match top agents with qualified home buyers and sellers in real-time. The company plans to use the fund raised to scale its workforce and expand its footprint among real estate brokers across the United States.
4 min read · 10 May 2017
Uranium Energy Corp (NYSE: UEC) has agreed to acquire all of the issued and outstanding shares of Reno Creek Holdings Inc, a Vancouver-based uranium mining and exploration company. The deal, expected to close in July, will see UEC acquire Reno Creek and its Reno Creek in-situ recovery project in Wyoming, by issuing shares and warrants to the company's owner, Pacific Road Capital Management. Pacific Road, an Australian mining private equity firm, acquired Reno Creek and its project in 2010 and currently has a 97.27 percent ownership interest.
7 min read · 10 May 2017
Public Sector Pension Investment Board (PSP Investments) has launched its European hub via a new London-based office. The initiative is intended to increase the Canadian pension's fund's European exposure across a range of asset classes. The hub's leadership includes Simon Marc, managing director of private equity, Oliver Duff, managing director of principal debt and credit investments, and Patrick Charbonneau, managing director of infrastructure investments. PSP's recent European activity includes last month's acquisition of Paris-based Cerba HealthCare SAS, a deal done alongside Partners Group.
3 min read · 10 May 2017
Stingray Digital Group Inc (TSX: RAY.A-B) has acquired Yokee Music Ltd, an Israeli provider of three popular social music apps. No financial terms were released. Stingray, a business-to-business multi-platform music company, said the deal will provide mobile app development and optimization expertise and expand its portfolio of consumer-facing products. 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.
4 min read · 09 May 2017
Northstar Scaffold Services Inc has acquired Sky-Hi Scaffolding Ltd, a Burnaby, British Columbia provider of scaffold solutions to residential, commercial, and industrial customers. No financial terms were released. The seller was Kevin Lottis, who has owned Sky-Hi since 1993. The acquisition creates a national scaffolding service provider with six branches, according to Andover Capital, the Canadian private equity firm that backs Northstar. Established in 1967, Northstar has its headquarters in Winnipeg.
2 min read · 09 May 2017
