Montréal virtual health and wellness solution Dialogue has raised $4 million in seed-stage financing. The announcement confirms news previously shared by one of the startup’s Canadian investors, Diagram, which launched a $25 million debut fund in January. Diagram led the round and was joined by BDC Capital and Hacking Health Accelerator, among others. Founded last year, Dialogue offers employers a virtual platform that provides a range of employee-focused healthcare services and benefits. Led by Co-Founder and CEO Cherif Habib, the company will use the funds raised to build on its Québec launch and continue expansion in Ontario.
3 min read · 06 March 2017
Subsea Global Solutions (SGS), a portfolio company of U.S. private equity firm Lariat Partners, has acquired All-Sea Underwater Solutions, a Vancouver-based provider of underwater ship maintenance, repair and marine construction solutions. No financial terms were released. Miami, Florida's SGS said the acquisition expands its scope of services, enhances innovation, and broadens its global footprint. Established in 1978, All-Sea has locations in Canada, the United States and Asia. Lariat completed a recapitalization deal with SGS in 2013.
3 min read · 06 March 2017
Lisa Melchior, a former managing director of OMERS Private Equity, has launched a new investment firm that targets a key capital gap faced by Canada’s late-stage tech companies. Melchior, a 17-year OMERS veteran, founded VERTU Capital in November. She told PE Hub Canada the decision was inspired by her belief that many quality Canadian tech companies lack sufficient funding to leverage early commercial success. “I spent over 20 years on Bay Street in an institutional environment, much of it leading OMERS North American technology group,” Melchior said. “When I left, I felt I wanted to work with entrepreneurial teams and tech companies seeking breakout growth and needing a partner to get there.”
3 min read · 06 March 2017
Canadian private equity firm Onex Corp has wrapped up its acquisition of Parkdean Resorts UK Ltd, an owner and operator of caravan holiday parks across England, Scotland and Wales. The deal, announced in December, saw Onex buy the business for about US$1.65 billion (£1.35 billion). Onex Partners IV and co-investors made an equity investment of US$627 million. Parkdean was previously a portfolio investment of Electra Private Equity, a U.K. private equity firm.
2 min read · 06 March 2017
Plum.io, a Waterloo software startup led by CEO Caitlin MacGregor, has secured the final tranche of a $400,000 investment by BDC Capital. The money came from a fund set up by BDC Capital last November to support women founders in Canada. Launched in 2012, Plum.io has developed an SaaS platform that helps employers optimize teams and make pre-employment assessments. The company said the funding has helped it grow and attract new hires, such as former Blackberry executive Nigel Vanderlinden, who became Plum.io's CRO in January.
3 min read · 03 March 2017
Acasta Enterprises Inc (TSX: AEF), a Canadian special purpose acquisition corporation, has named Ian Kidson the firm's COO and CFO, replacing Richard Smith. Kidson previously served as managing director of TD Capital Mezzanine Partners, a role he held for more than a decade. He subsequently served as Progressive Waste Solutions Ltd's executive vice president and CFO until the company's recent sale to Waste Connections Inc. In January, Acasta closed its qualifying acquisition, buying three businesses for $1.1 billion. It also announced plans to launch as a private equity firm this year.
2 min read · 03 March 2017
Source Energy Services, a proppant-sourcing and oilfield-logistics company, is seeking to raise $300 million from its recently filed initial public offering, according to the company's updated prospectus. Source, backed by Canadian private equity firm TriWest Capital Partners, said it will price as many as 17.6 million common shares at $17 to $20 per unit. If the IPO's greenshoe option is exercised, it could raise as much as $345 million. The lion's share of the offering’s proceeds will go to Source. It will include a secondary sale by TriWest, which invested in Source in 2013, and other shareholders.
2 min read · 03 March 2017
Sept-Îles, Québec manufacturing company Métal 7 Inc has bought Enduride Canada-USA, a Québec City-based maker of rollers and idlers for power-driven or gravity conveyors. No financial terms were released. Established in 1974, Métal 7 is a designer and maker of equipment for the iron ore and aluminum industries. It said the acquisition is the first in a strategy to create a flagship value-added products and services business dedicated to the global primary industry. Métal 7 was acquired in April 2014 by a group led by NCP Investment Management and including BDC Capital, Fondaction CSN and Fonds de solidarité FTQ.
2 min read · 02 March 2017
Opsens Inc commenced trading this week on the Toronto Stock Exchange under the symbol "OPS". The company's graduation from the TSX Venture Exchange was preceded by a $14.9 million equity financing in December. Founded in 2003, Québec City-based Opsens is a developer of technology that is mainly focused on the measure of fractional flow reserve in interventional cardiology. It is a portfolio company of Canadian life sciences venture capital firm Lumira Capital and other investors.
3 min read · 02 March 2017
1 min read · 02 March 2017
