Malabar Super Spice Co Ltd, a Burlington, Ontario-based maker of custom seasonings and a distributor of food ingredients, spices and sausage casings, has been sold to an unidentified Canadian private investment group. No financial terms were disclosed for the deal, which was announced by U.S. advisory firm Generational Equity. Founded in 1982, Malabar distributes its products to the meat and poultry industry, as well as food processors, in Canada. The company's investor was looking to enter the food industry through the deal, Generational Equity said.
2 min read · 26 April 2017
Canadian social media management company Hootsuite has unveiled the Hootsuite Integration Fund, a $5 million fund to support developers building enterprise integrations and applications for the Hootsuite platform. Development initiatives enabled by the fund and a partner portal will add to the company's ecosystem, which consists of hundreds of applications in its App Directory, and over 2.5 million app installs. Vancouver-based Hootsuite is backed by several investors, including Accel Partners, Insight Venture Partners and OMERS Ventures.
3 min read · 26 April 2017
3 min read · 26 April 2017
Calgary oilfield service company STEP Energy Services Inc has revised its recently filed initial public offering. STEP, backed by Canadian energy private equity firm ARC Financial Corp, said it will sell 10 million common shares at $10 per unit, generating about $100 million in proceeds. That amount may increase to $115 million if a greenshoe option is exercised. STEP originally priced the offering to raise as much as $230 million. ARC, which invested in the company in 2011, will sell shares as part of the IPO. Upon its completion, ARC will remain STEP's majority shareholder, the final prospectus shows. STEP provides coiled tubing and fracturing solutions.
4 min read · 26 April 2017
Business Development Bank of Canada has topped up resources in its private capital operation to address intensifying small-business demand for risk financing. BDC Capital, the bank’s investment arm, today announced $1.8 billion in fresh funding. It will be invested over the next five years in established companies in Canada seeking long-term financing options to back their growth and transition strategies. The commitment, to be overseen by BDC’s Growth and Transition Capital division, represents a 50 percent increase over the $1.2 billion deployed in the past five years.
3 min read · 26 April 2017
IAM Private Debt Group has provided an undisclosed senior term loan to SaltWire Network Inc, a Halifax media company and publisher of newspapers. The funds raised will support the company's working capital needs and recent acquisition of Transcontinental Inc's portfolio of newspapers and web-related products in Atlantic Canada. IAM Private Debt Group is a division of Integrated Asset Management Corp (TSX: IAM), a Toronto alternative investments manager.
2 min read · 25 April 2017
Canadian precious metals producer Montan Mining Corp (TSX-V: MNY) has agreed to receive a funding package of up to US$10 million from the royalty financing affiliate of Cartesian Capital Group, a U.S. private equity firm. Vancouver-based Montan, which is focused on monetizing gold mining assets in Peru, said the funds raised will be used to support its recent buy of Kairos Capital Peru SAC and M&S Transportes y Servicios Generales SRL from Pacific Alliance Capital Group Ltd. It will also give priority to bringing the company's Cerro Dorado processing plant into production and increase its capacity.
5 min read · 25 April 2017
GSC Technologies, a Montréal-based producer of kayaks and watersports equipment that was recapitalized by U.S. private equity firm New Water Capital Partners earlier this month, has been combined with KL Outdoor. No financial terms were disclosed. Muskegon, Michigan-based KL Outdoor, which also manufactures kayaks, has been backed by New Water since December. The merger "will create the largest kayak company in the world," New Water Partner Mark Becker said. The businesses will immediately begin offering their combined product portfolios and manufacturing capacity to customers.
3 min read · 25 April 2017
C100 and the Royal Bank of Canada (RBC) have launched a joint strategy to promote Canadian entrepreneurs and startups at home and abroad. The initiative, which also saw RBC become C100's first charter sponsor, is aimed at "giving a voice to the hundreds of diverse tech success stories, innovative ideas and ground-breaking advancements that help shape Canada's future." Beginning this year, C100 and RBC will develop and distribute content for individuals and organizations wanting to learn more about Canada's technology ecosystem. C100 is a Silicon Valley nonprofit established to support innovative companies in Canada.
4 min read · 25 April 2017
Caisse de dépôt et placement du Québec has created a $125 million fund to invest in Québec's agri-food industry. The fund, Fonds agroalimentaire CDPQ, will invest directly and via fund partners across the industry's value chain, including agricultural production, food processing, and food distribution and marketing. It will also target key production areas, such as maple syrup, pork, veal, milk, dairy products, grain, and fruit and vegetables. Opportunities of interest will include existing owners of family farms, young farmers and entrepreneurs, technological transitions, and growth strategies focused on regional and global markets.
4 min read · 24 April 2017
