Jamieson Laboratories Ltd has acquired Body Plus, a Toronto maker and marketer of natural health and sports nutrition supplements across Canada. No financial terms were disclosed. Jamieson, a Windsor, Ontario-based vitamins maker, said the deal strengthens its product portfolio and expands its reach into sports nutrition and specialty retail channels. Jamieson has since 2014 been a portfolio company of U.S. private equity firm CCMP Capital Advisors. Last May, Reuters reported CCMP was planning to sell the business for between US$600 million and US$700 million.
2 min read · 03 February 2017
France's Trescal SA has acquired Digital Measurement Metrology Inc (DMM), a Brampton, Ontario provider of installation, sales, service, training and calibration of precision measuring instruments. No financial terms were disclosed. Ardian, a European private equity firm that acquired Trescal in 2013, supported the acquisition. Calibration specialist Trescal said the deal will consolidate its geographical footprint and technical coverage in Canada. DMM's founder, Bassant Gobin, will continue to lead the business. Trescal said it is now targeting opportunities on Canada's west coast.
2 min read · 02 February 2017
Canadian Equipment Rentals Corp (TSX-V: CFL) has agreed to sell the assets of its wholly-owned subsidiary, 4-Way Equipment Rentals Corp, to Cooper Equipment Rentals, a Toronto-based construction equipment rental company. Cooper will pay $8.5 million in cash for 4-Way in a deal expected to close this month. Cooper, which serves contractors in Ontario and Québec, is a portfolio company of Canadian private equity firm SeaFort Capital. SeaFort acquired a majority interest in the business in 2013.
2 min read · 02 February 2017
Agropur Cooperative has acquired the assets of Scotsburn Cooperative Services Ltd, a Truro, Nova Scotia-based frozen ice cream and novelties business. The deal, the terms of which were not disclosed, covers Scotman's plants in Truro and Lachute, Québec. Agropur, a Longueuil, Québec-based dairy cooperative, said the acquisition strengthens its presence in the ice cream market. Agropur has recently secured financing from several Québec investors, including Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Capital régional et coopératif Desjardins and Fondaction CSN.
2 min read · 02 February 2017
Canadian tech private equity firm Klass Capital has won a bet it made on a decade-long investment in Freshii, a health-food restaurant chain that went public this week. Freshii closed its initial public offering on the TSX at the upper end of the price range. It raised more than $125 million, a sum that could increase to $144 million if a greenshoe option is exercised. The IPO is 2017’s first involving a Canadian company backed by a major private investor. And it may herald more to come.
3 min read · 02 February 2017
Fengate Real Asset Investments has closed its acquisition of three operating, fully-contracted solar assets from Canadian Solar Inc for an undisclosed amount. The acquired assets are solar farms located in Sault Ste. Marie, Ontario with a combined capacity of 59.8 MWac. Fengate, a Toronto investment firm focused on infrastructure, real estate and private equity opportunities, said the deal represents its largest power investment to date. The firm has a renewable energy portfolio that includes solar, wind, hydro and biomass projects in North America and the United Kingdom.
3 min read · 02 February 2017
Canadian private equity firm Novacap has sold its interest in Metro Supply Chain Group (Metro SCG), a third-party provider of logistics services in North America and Europe. No financial terms were released. Novacap sold the stake to LDC Logistics Holdings Inc, a diversified holding company and existing investor in Metro SCG. Novacap invested in Montréal-based Metro SCG in late 2005. Managing Partner Jacques Foisy said Novacap supported the company's growth with strategic, operational and financial contributions. He said his firm will explore co-investment opportunities with LDC in the future. Last year, Novacap closed its fourth industries fund at $470 million.
4 min read · 02 February 2017
Aveda Transportation and Energy Services Inc (TSX-V: AVE) has priced its previously-announced public offering of common shares, which is targeted to raise gross proceeds of $20 million to $25 million. Werklund Capital Corp, a Canadian private equity family office, has agreed to subscribe for up to $5 million. Calgary-based Aveda, a provider of oilfield hauling services and equipment rentals to the energy industry, said the offering's proceeds will be used for debt reduction, working capital and other priorities. Werklund invested in the company in 2010 and is its largest shareholder.
4 min read · 02 February 2017
Vectio Technologies Inc, a Canadian developer of software solutions for trucking operations management, has raised a pre-seed financing from angel investors. The round's value and backers were not disclosed. Toronto-based Vectio, which was founded in 2016, said the funds raised will be used to support ongoing development of its lead product, Vectio, which helps small and medium-sized trucking companies increase operational efficiency. Led by CEO Fil Marinkovic, Vectio is targeting growth opportunities across North America.
2 min read · 02 February 2017
Toronto healthcare software company PointClickCare Technologies has raised about $111 million (US$85 million) in a follow-on financing. The round was led by Dragoneer Investment Group and joined by JMI Equity, which acquired a minority stake in the company in 2011. PointClickCare is a provider of cloud-based software and services for the long-term post-acute care and senior living markets. It said the funds raised will help accelerate a focus on delivering solutions to customers and end markets. In 2015, PointClickCare launched an initial public offering that was expected to raise about US$100 million. CEO Mike Wessinger said the company has not ruled out a public sale in the future.
4 min read · 01 February 2017
