Halifax-based financial technology startup The Money Finder has raised $1 million in a seed-stage financing. Canadian venture capital firm Build Ventures led the round and was joined by Innovacorp. With the deal, Build Ventures' Managing Partner Rob Barbara has joined the board. Launched in 2006 by CEO Stephanie Holmes-Winton, The Money Finder specializes in cash-flow planning training software and programs for financial professionals. It plans to use the fund raised to add more technical resources to the company's team. Build Ventures invests in technology opportunities in Atlantic Canada.
2 min read · 24 April 2017
Chorus Aviation Capital has agreed to acquire six ATR 72-600 aircraft with attached leases from Singapore's Avation PLC. No financial terms were released for the proposed acquisition, which consists of three aircraft on lease to British carrier Flybe and three to Virgin Australia Airlines. Chorus Aviation Capital, a regional aircraft leasing subsidiary of Halifax-based Chorus Aviation Inc (TSX: CHR), was launched in December. The launch was backed with a $200 million investment by Canadian holding company Fairfax Financial Holdings Ltd.
2 min read · 24 April 2017
IAM Private Debt Group has provided an undisclosed senior term loan to JMB Crushing Systems ULC, a Bonnyville, Alberta-based producer and distributor of gravel, sand, rocks and other materials to industrial projects, oilfield developments and road construction. The funds raised will be used by the company to refinance debt and fund continued growth across Western Canada and the Northwestern United States. JMB has been backed by U.S. private equity firm Westward Partners since 2011. IAM Private Debt Group is a division of Toronto-based Integrated Asset Management Corp (TSX: IAM).
2 min read · 24 April 2017
Canadian private equity firm Lynx Equity this month acquired Label Express Ltd, a Croydon, U.K.-based provider of express labelling services to a variety of niche industries. No financial terms were disclosed. The investment is Lynx's second to date in Europe. Its first, Signalhome Ltd, a London-based provider of storage for bathroom and kitchen developers, was bought earlier this year. Lynx is focused on acquiring small businesses from owners looking to retire. In 2016, PE Hub Canada profiled Brad Nathan, the Toronto investor's founder and president.
2 min read · 24 April 2017
2 min read · 21 April 2017
Zymeworks, a Vancouver biotherapeutics provider, has set the terms of its recently filed initial public offering in Canada and the United States. The event marks Canada’s first venture-backed IPO in two years. Zymeworks, backed by multiple VC and strategic investors, plans to raise as much as $110 million (US$82.8 million) from a sale of as many as 5.2 million common shares at US$13 to US$16 per unit, according to the updated prospectus. As a private company, Zymeworks has secured nearly US$150 million from investors, including the US$61.5 million raised in its Series A mezzanine financing last year.
2 min read · 21 April 2017
Hallcon Corp has acquired Overland Park, Kansas-based Transportation Certification Services Inc (TCS) and Rail Temps Inc, which together provide training, certification, consulting, regulatory compliance, and staffing for the rail and transit industries. No financial terms were released. Hallcon, an outsourced transportation services specialist, said the deal will position it for entry into new markets and geographies and add to its capabilities. Based in Toronto, Hallcon was acquired by Canadian private equity firm Novacap in mid-2015. Novacap and co-investors bought the business from U.S. private equity firm Southfield Capital.
3 min read · 21 April 2017
National Bank of Canada has agreed to make a $6 million minority investment in Nest Wealth Asset Management Inc, a Toronto-based financial technology startup. The deal forms part a strategic agreement between National Bank and Nest Wealth that will see the latter's technology used to enhance the bank's digital platforms. Founded in 2014 by CEO Randy Cass, Nest Wealth has developed an automated wealth management system that offers direct-to-investor solutions as well as advanced business solutions. The company raised $1.5 million in funding from Metroland Media Group Ltd in 2015.
3 min read · 21 April 2017
SweetIQ Analytics Corp, a Montréal location-based marketing analytics and automation company, has been acquired by Gannett Co Inc (NYSE: GCI), a U.S. media business and publisher of such journals as USA Today. No financial terms were disclosed. Gannett said the acquisition enhances its digital marketing suite for local businesses and national brands. Founded in 2010 by CEO Mohannad El-Barachi and CRO Michael Mire, SweetIQ was seeded in 2011 in a round led by Real Ventures. The company's other investors include Desjardins-Innovatech, Otimo Retail Group, Plaza Ventures and Rothenberg Ventures. Plaza led its Series A round in 2015.
4 min read · 20 April 2017
Ontario Teachers’ Pension Plan has promoted Tamara Finch to managing director, portfolio management. Finch, who joined Ontario Teachers' in 2002, will in the new role head its private capital portfolio management group, which focuses on value creation, talent management, governance, portfolio construction, analytics and sharing of best practices. Finch currently works with several portfolio companies and sits on the boards of Baybridge Seniors Housing Inc and Exal Group. Ontario Teachers' also promoted Jeff Clark to managing director, business analysis and quality assurance.
2 min read · 20 April 2017
