Authentic Web Inc has raised a financing led by MaRS Investment Accelerator Fund (IAF) and joined by a group of angel investors. The round's value was not disclosed. Launched in 2013, Toronto-based Authentic Web provides SaaS technology to help enterprises control and drive brand domain identity performance improvements and innovation. It plans to use the funds raised to build out its technology and expand the customer base. Led by its founder, CEO Peter Lamantia, Authentic Web also has operations in the United Kingdom. MaRS IAF invests in early-stage companies in Ontario.
3 min read · 08 March 2017
An affiliate of Gaz Métro LP has agreed to buy Standard Solar Inc, a Rockville, Maryland developer, installer and funder of commercial solar electric systems in the United States. No financial terms were disclosed for the deal, which is expected to close in the weeks ahead. Gaz Métro, a Canadian natural gas distribution company, said the acquisition will expand its presence in the U.S. solar energy industry and creates opportunities for combining solar with other energy sources. Montréal-based Gaz Métro is owned by Valener Inc, Enbridge Inc and a group of investors, including Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ.
4 min read · 07 March 2017
Tokyo Smoke has partnered with Chuck Rifici and Ian Rapsey of Nesta Holding Co, a Canadian cannabis private equity firm, to form Nesta Brand Co, a brand house that will license cannabis brands for distribution. Led by Rapsey as CEO, Nesta Brand Co will build global partnerships to license existing products on sale in Europe, America and elsewhere for distribution in the Canadian market. Tokyo Smoke, a Toronto cannabis lifestyle brand and developer of retail spaces, raised a $3 million Series A financing in January. The round's backers included Globalive Capital.
4 min read · 07 March 2017
Caisse de dépôt et de placement du Québec has agreed to provide $90 million in term-loan financing to help construct the Mont Sainte-Marguerite wind farm project in Québec's Chaudière-Appalaches region. Pattern Energy Group LP, a portfolio investment of U.S. private equity firm Riverstone Holdings, is developing the project in partnership with local municipalities. It will include a wind farm of 46 wind turbines that, once operational, will have a capacity of 147 megawatts. The power generated will be sold to Hydro-Québec under a 25-year agreement.
2 min read · 07 March 2017
GESCO Holdings, a portfolio company of U.S. private equity firm Blue Point Capital Partners, has acquired Savoia Canada Inc, a Toronto distributor of ceramic, porcelain and stone surfaces for floor and wall applications. No financial terms were released for the add-on deal, GESCO's second since it was bought by Blue Point in 2013. Founded over 50 years ago, Savoia is the domestic distribution arm of GranitiFiandre-Stonepeak. Its acquisition by GESCO, a Brampton, Ontario flooring and multi-surface distribution company, will strengthen the latter's presence in the ceramic distribution market and enhance its offerings, Blue Point's Jon Pressnell said.
3 min read · 07 March 2017
Oil and gas company TimberRock Energy Corp has closed a $39 million financing led by Azimuth Capital Management, a Canadian energy private equity firm. Azimuth was joined in the deal by co-investors and U.S. energy asset manager Tudor Pickering Holt & Co Asset Management. Calgary-based TimberRock said the funds raised will be used to continue developing its Glauconite drilling program at Garrington, Alberta, where it has land tied up under farm-in agreements. Azimuth, formerly known as KERN Partners, has backed TimberRock since 2012. The company is also a portfolio investment of Edgestone Capital Partners' energy fund.
1 min read · 06 March 2017
Vancouver cannabis company Alliance Growers Corp has secured access to a $5 million equity facility from an undisclosed U.S. private equity firm. The company will have the option to increase its access to $10 million, the proceeds of which will be used for project development. Founded in 2014, Alliance Growers has formed a partnership to develop and operate a 40,000 square-foot facility to support a DNA botany lab, extraction and tissue-culture plantlet production. The facility is intended to serve the cannabis and agriculture industries.
3 min read · 06 March 2017
Mill Street & Co has acquired a stake in Tuque Inc, a Canadian personal and commercial insurance technology startup. No financial terms were disclosed. Founded last year by President Shaun Bagchi, Toronto-based Tuque plans to introduce "innovative insurance products" to the domestic market following the company's official launch in the first quarter of 2017. Mill Street is a Canadian private investment firm.
2 min read · 06 March 2017
Caisse de dépôt et placement du Québec (CDPQ) has acquired 8.7 million shares in 5N Plus Inc, a Montréal maker of metal and chemical products used in advanced pharmaceutical, electronic and industrial applications, for $14.8 million. The additional share purchase, made on the secondary market, increases the Canadian pension fund's ownership interest in the company to 18.93 percent. Founded in 2000, 5N Plus operates manufacturing facilities and sales offices in locations in Europe, the Americas and Asia.
3 min read · 06 March 2017
White Owl Family Office has acquired and recapitalized Olon Industries, a Georgetown, Ontario designer and maker of woodworking components for the North American furniture and cabinet-making industries. No financial terms were disclosed for the deal, which was done in partnership with Olon's executive team. The team is led by President and CEO Don Hambly. Founded in 1981, Olon has completed two add-on acquisitions since 2007, when it received an investment from U.S. private equity firm Huron Capital Partners. Based in Toronto, White Owl invests in mid-market companies on behalf of the McArthur and Carrick families.
2 min read · 06 March 2017
