Datavail Corp, a U.S. managed services provider of data and database administration, has acquired Navantis Inc, a Toronto-based company focused on application development, support and systems integration across Microsoft product suites. No financial terms were disclosed. Founded in 1998, Navantis has been backed by Canadian private equity firm Hawthorn Equity Partners. Broomfield, Colorado's Datavail said the deal will expand its offerings to respond to customer requirements and challenges. It added that the acquisition was enabled by a US$47 million financing closed in 2015. The round was led by Catalyst Investors and joined by new and existing investors.
4 min read · 18 January 2017
Tokyo Smoke, a Canadian cannabis lifestyle brand, has secured $3 million in a Series A financing. The round was backed by angel investors, including W. Brett Wilson and Chuck Rifici, as well as Globalive Capital. Founded in 2015 by CEO Alan Gertner and Chairman Lorne Gertner, Toronto's Tokyo Smoke is a developer of retail spaces with coffee, clothing and designer products. It is also partnering with Aphria Inc to release four branded cannabis strains in the first quarter of 2017. The proceeds of the Series A will be used for product development, growing the management team and global expansion.
3 min read · 17 January 2017
Parkbridge Lifestyle Communities Inc has bought Nestle In Resort, Heron's Landing and Glenway Village, which are retirement, family and cottage RV resort properties located in Ontario's Kawartha region. No financial terms were released. Parkbridge said the acquisitions add to its portfolio of land lease communities. The Calgary-based company, which currently holds and operates 115 properties across Canada, is owned by British Columbia Investment Management Corp (bcIMC). It was acquired for $790 million in 2010.
3 min read · 17 January 2017
Fairfax India Holdings Corp, a platform launched in 2014 to make private equity and other investments in India, has acquired a 51 percent stake in Saurashtra Freight Private Ltd for about US$30 million. The proceeds will be used to buy the container freight station (CFS) business of Saurashtra Infra and Power Private Ltd, and for future growth. Saurashtra Infra runs the CFS at Mundra Port, India's second largest port. Fairfax India is an affiliate of Fairfax Financial Holdings Ltd, a Toronto holding company. Last month, the Ontario Municipal Employees Retirement System (OMERS) invested in the platform's US$350 million private offering.
3 min read · 17 January 2017
Canadian private equity firm Parallel49 Equity has acquired Kinetrex Energy, a supplier of liquefied natural gas (LNG) in the Midwestern United States. Terms weren't disclosed for the deal, which was done in partnership with the company's management. Established in 2013, Kinetrex operates two LNG production facilities in Indianapolis, Indiana, which allow the company to provide fueling solutions to the transportation, commercial, industrial, agricultural and power markets. It is Parallel49’s second platform investment since the firm’s launch in 2015, following a rebranding of Tricor Pacific Capital's fifth fund. Last year, Parallel49 invested in Questco LLC.
2 min read · 17 January 2017
Gamber-Johnson LLC of Stevens Point, Wisconsin has merged with Precision Mounting Technologies Ltd (PMT) of Calgary. Both companies are makers of rugged computer mounting systems that secure electronics, such as tablets, radios, cameras and laptops, in professional vehicles and other commercial settings. Brian Wagner will serve as president and CEO of both businesses. The merger deal was backed by an undisclosed investment from Main Street Capital Corp, a U.S. debt and private equity firm. Main Street invested in Gambler-Johnson last year. Founded in 1985, PMT will continue to have its headquarters in Calgary.
3 min read · 17 January 2017
U.S. real estate investment trust (REIT) American Realty Capital Hospitality Trust (ARC Hospitality) has agreed to an investment of up to US$400 million from a real estate private equity fund managed by Brookfield Asset Management. The investment, to be made in the form of convertible preferred units, is expected to close in March. With the close, ARC Hospitality, which invests in North American hotel properties, will become self-managing and change its name to Hospitality Investors Trust. Brookfield will be afforded governance and approval rights over some of the company's activities.
7 min read · 17 January 2017
U.S. private equity firm Lovell Minnick Partners has made an undisclosed investment in Engage People Inc, a Concord, Ontario-based solutions provider to the loyalty and incentive industry. The proceeds of the investment will be used to support the global growth of Engage, which will continue to be majority-owned and operated by its current management team, led by CEO Jonathan Silver. With the deal, Lovell Minnick President Steven Pierson and Partner Spencer Hoffman will join the company's board. Engage is the first Canadian investment of Lovell Minnick, which specializes in financial services and related business services.
3 min read · 17 January 2017
Canadian software growth equity firm Klass Capital has hired Dave Vu as talent acquisition manager. Vu will join the firm's talent team, headed by Jared Tessis. He will work closely with portfolio companies, providing them with recruitment and talent acquisition services. Prior to joining Klass, Vu served as the head of talent acquisition at EventMobi. Toronto-based Klass is led by Founder and Managing Director Daniel Klass. Its portfolio companies include Resolver, a risk and incident management software provider acquired by Klass in 2015.
3 min read · 17 January 2017
Ontario Capital Growth Corp (OCGC), the Ontario government's venture capital agency, has launched a search process for one or more managers to help it form and administer a proposed Cleantech Equity Fund. The fund, which will be anchored with $55 million authorized by the 2016 Ontario Budget, will focus on investing in high-growth clean technology companies located in the province. The government's anchor commitment is expected to leverage a minimum of 1.5x its weight in commitments from other investors. OCGC said it will participate in the fund on the same terms as other limited partners.
3 min read · 16 January 2017
