Clairvest Group has invested US$73.7 million in Head InfoTech India Pvt Ltd, a Hyderabad, India gaming business. Established in 2005 by CEO Deepak Gullapalli, Head InfoTech is the operator of Ace2Three, an online skill-based gaming platform in India that provides Rummy experiences to more than 8 million customers. Clairvest's Michael Wagman said the deal will support the company's growth strategy. Head InfoTech is the Canadian private equity firm's 11th investment in the global gaming industry. In January, PE Hub Canada reported on Clairvest realizations from the sale of Cieslok Media Ltd and the refinancing of Rivers Casino.
2 min read · 28 April 2017
Kensington Capital Partners and the Canadian affiliate of German manufacturing and electronics company Siemens have agreed to partner in commercializing clean technology energy solutions in Canada. The partnership will focus on projects in a wide variety of areas, including energy storage, transmission and distribution, combined heat and power plants, power generation, smart grid, micro grid and biomass. Kensington and Siemens said their collaboration will also include pursuit of infrastructure projects. Toronto-based Kensington is an alternative assets firm with $1.1 billion under management.
3 min read · 28 April 2017
Emerald Expositions Events Inc, a U.S. operator of business-to-business trade shows, has announced the pricing of its recently filed initial public offering. The company, which expects to begin trading today on the New York Stock Exchange under the symbol EEX, is looking to raise as much as US$356.5 million from the IPO, according to a U.S. regulatory filing. The offering includes a secondary sale by Emerald backer Onex Corp, a Canadian private equity firm. Onex, which acquired Emerald in 2013, said it expects to see about US$85 million in proceeds. The investor continues to hold a 78 percent economic interest in the company.
3 min read · 28 April 2017
Exiger, a firm that helps businesses monitor compliances such as money laundering regulations, has agreed to buy OutsideIQ, a Canadian startup that specializes in technology that helps businesses assess and manage risk. The deal, reported earlier by Reuters, is for $30 million, according to a source. Toronto-based OutsideIQ uses cognitive computing processes to automate and analyze a portion of time-consuming, error-prone data research. It raised financing from Canadian venture debt firm Espresso Capital and angel investors.
2 min read · 27 April 2017
2 min read · 27 April 2017
Real Matters, a real estate technology platform, has priced its recently filed initial public offering in Canada. The Toronto company, backed by a mix of private and public investors, expects to raise as much as $132 million from a sale of common shares at $12 to $13 per unit, according to the updated prospectus. Earlier this week, Bloomberg said Real Matters is seeking a $1.1 billion valuation with the issue. That’s well up from the $653 million value reported for the business a year ago.
2 min read · 27 April 2017
Dane Creek Capital Corp, a Canadian merchant banking venture firm, has upped its interest in Midgard Insect Farm Inc, a Halifax producer of insect-based powder. Dane Creek, which acquired a 48 percent stake in the company last November, increased the stake to 65 percent. Terms were not disclosed. The funds raised will be used for research into crickets as a protein source for dog and cat food products, research into mealworms for the same purpose and cricket manure as an agricultural soil amendment, and other priorities. Midgard was founded last year by President Joy Hillier.
5 min read · 27 April 2017
Canam Group Inc (TSX: CAM), a Saint-Georges, Québec designer and fabricator of customized products for the construction industry, has agreed to be taken private by a consortium of the Dutil family and American Industrial Partners (AIP), a U.S. private equity firm. The deal, which is valued at $875 million, including debt, will see the consortium acquire all of the company's common shares, except shares currently owned by the Dutil family, which will be rolled over. Existing shareholders Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ are also expected to participate. Upon the transaction's completion later this year, AIP will hold a majority stake in Canam.
9 min read · 27 April 2017
Canadian royalty financing firm Grenville Strategic Royalty Corp has led a $250,000 royalty investment in Fixt Wireless Inc, a Toronto-based provider of wireless device repair services. Grenville partnered in the funding deal with Foregrowth Holdco Inc and Darwin Strategic Royalty Corp. Grenville established a joint venture with Foregrowth, an affiliate of Gravitas Ilium Corp, and Darwin last year. Established in 2015, Fixt is building a brand in a Canadian market "where one or two dominant firms will emerge over the next few years," Grenville said.
2 min read · 26 April 2017
Brookfield Business Partners (BPP) and institutional clients of Brookfield Asset Management have closed their acquisition of a 70 percent stake in Odebrecht Ambiental, a Brazilian water distribution, collection and treatment company. The deal, announced in October, reflects a total investment of US$908 million. Brazil's FI-FGTS continues to own a 30 percent interest in the business, which will be renamed BRK Ambiental. BRK is one of the first platform investments of Brookfield Capital Partners IV, which raised US$4 billion last year. BPP, a listed vehicle, was launched in 2016 to participate in Toronto-based Brookfield's private equity deals.
3 min read · 26 April 2017
