Canada Pension Plan Investment Board has agreed to acquire a 48 percent stake in GlobalLogic Inc, a U.S. provider of digital product development services, from British private equity firm Apax Partners. No financial terms were released for the deal, which will see Apax retain an equal interest alongside CPPIB. San Jose, California-based GlobalLogic reports achieving a 20 percent-plus compound annual growth rate in the past three years. CPPIB Head of Direct Private Equity Ryan Selwood said the pension fund will help back the company's next phase of growth in the global software engineering services market. Apax acquired GlobalLogic in 2013.
5 min read · 11 January 2017
South East Construction, a.k.a Secon Holdings LP, has acquired Tundra Mechanical and Millwrighting Ltd, a Warman, Saskatchewan-based provider of mechanical and millwrighting services to several industries, including water treatment, waste management and agriculture. No financial terms were disclosed. The deal will give Secon, a multi-trade industrial and commercial construction company, access to a new Saskatchewan market segment. Esterhazy, Saskatchewan's Secon is majority-owned by Canadian private equity firm Mosaic Capital Corp. Mosaic acquired the company for $15.2 million in late 2014.
2 min read · 10 January 2017
Canadian private equity firm Ardenton Capital Corp has closed an equity investment in Combat Networks Inc, an Ottawa-based network solutions integrator for enterprise, government and defense infrastructures. No financial terms were disclosed for the deal, which was announced by Osprey Capital Partners, an advisor to Combat. In a late 2016 release, James Livingstone, Ardenton's CEO, said the focus of the firm's partnership with Combat will be "to identify and pursue new opportunities to service and support the Canadian unified communications market." Combat was founded in 2001 and currently serves more than 200 customers.
2 min read · 10 January 2017
Canadian private equity firm Onex Corp has promoted Amir Motamedi to managing director. Motamedi joined Onex in 2006 and has focused on the firm's private equity investments in the business services sector. He has worked on numerous deals, including last October's US$3.55 billion acquisition of Clarivate Analytics. In his new position, Motamedi will be responsible for acquisitions and investment oversight from the firm's office in New York. Before joining Onex, Motamedi worked in the investment banking division of Goldman, Sachs & Co.
2 min read · 10 January 2017
3 min read · 10 January 2017
The Fonds de solidarité FTQ has reported a six-month return of 4.0 percent and a 12-month return of 7.5 percent for the period ending November 30, 2016. Comprehensive income for the six-month period totaled $470 million, increasing net assets to $12.2 billion. The Fonds, which makes private equity and venture capital investments in Québec companies, also said it deployed $287 million to deals during this period. Its recent deals include an $8 million investment in District M and a role in Sterinova Inc's $70 million financing.
3 min read · 09 January 2017
Xplornet Communications Inc has acquired YourLink, a provider of high-speed wireless Internet to rural and remote communities in Saskatchewan, from Vecima Networks Inc. Financial terms were not disclosed. Xplornet, a pan-Canadian rural Internet service company, said the deal will expand its fixed wireless broadband footprint in Saskatchewan. Based in Woodstock, New Brunswick, Xplornet has been a portfolio company of U.S. private equity firm Catalyst Investors and Canadian firm Werklund Capital Corp since 2010.
2 min read · 09 January 2017
Toronto private investment firm Green Acre Capital has unveiled its Green Acre Capital Fund, which will invest in Canada's legal cannabis industry. The fund, the size of which was not disclosed, has secured lead commitments from York Plains Investment Corp and Aphria Inc (TSX-V: APH). Led by Managing Directors Matt Shalhoub and Tyler Stuart, Green Acre will target private investment opportunities across verticals in the Canadian medical and recreational cannabis industry. It will also consider additional opportunities abroad.
2 min read · 09 January 2017
Blue Pillar Inc, a U.S. energy internet-of-things company, has raised US$10 million in a follow-on financing. The round was backed by new investors GXP Investments and Elevate Ventures alongside of existing investors. The latter include EnerTech Capital, which led the company's US$14 million round in March 2015. Based in Frederick, Maryland, Blue Pillar is a provider of power management software solutions that connect, control and centralize critical and complex facilities. EnerTech, an investor in energy and power sectors, has offices in Calgary, Toronto, Montréal and in the United States.
3 min read · 09 January 2017
Canadian private equity firm Fulcrum Capital Partners has made an equity investment in Vitalus Nutrition Inc, an Abbotsford, British Columbia supplier of specialty cream and milk protein ingredients for the food, beverage, and nutraceutical industries. No financial terms were released. Fulcrum said the deal will support key growth initiatives. They include expansion of the company's milk protein concentrate production capabilities, development of a process to produce a proprietary prebiotic fibre, and construction of a Winnipeg facility for production of dairy ingredients. Vitalus is the sixth platform deal of Fulcrum Capital Partners V, which raised $344 million in 2015.
2 min read · 09 January 2017
