Meal-kit delivery startup Chefs Plate has closed a second tranche of its Series B financing with an investment from InvestEco Capital's second sustainable food fund. Terms were disclosed. InvestEco joined existing backers Acton Capital Partners, Emil Capital and BrandProject, which jointly invested $6 million in the company in September. Founded in 2014, Toronto's Chefs Plate delivers pre-portioned, locally-sourced fresh ingredients and recipes to homes. It will use the proceeds of the over-subscribed Series B round to further enhance its Canadian supplier network.
3 min read · 14 December 2016
Canadian private equity firm Regimen Equity Partners has invested in All Gold Imports Inc, a Markham, Ontario importer and distributor of more than 100 specialty food ingredients, including a variety of nuts, seeds and fruits. The terms of the platform deal, the fourth of Regimen's inaugural fund, were not disclosed. Founded in 1990, All Gold supplies industrial food manufacturers and snack re-packers across North America and Australia. Louis Pillemer, the company's CEO, said the partnership with Regimen will help it grow internationally. In July, Regimen invested in Montréal's Plastifab Industries.
3 min read · 14 December 2016
Canadian specialty finance firm Wellington Financial has provided US$8.5 million in growth funding to Conversica, a Foster City, California provider of artificial intelligence (AI)-powered business conversations. Wellington's investment was part of the company's US$34 million Series B financing, led by Providence Equity Partners. Founded in 2007, Conversica supports sales and marketing activity with AI-enabled software that engages leads in two-way human conversations via e-mail. It plans to use the funds raised to expand sales and marketing, support ongoing product development, and continue growth of its operations.
4 min read · 14 December 2016
U.S. consumer private equity firm Brentwood Associates has invested nearly $50 million in SAXX Underwear, a Vancouver designer of men’s underwear brands. Founded in 2006 by Trent Kitsch, SAXX was acquired in 2010 by private investors, who remain the majority shareholders. The company reports showing revenue growth of more than 75 percent annually since 2012. Brentwood said it plans to build on this growth by helping broaden SAXX's product portfolio, enhance its digital presence, and expand its international distribution. SAXX is led by CEO Tim Bartels and chaired by Terry Holland, head of Canadian private equity firm Krystal Financial Corp.
4 min read · 14 December 2016
Acasta Enterprises Inc (TSX: AEF) said it has raised more than $100 million in a private placement in connection with its proposed acquisitions. Last month, Acasta said it will acquire Apollo Health & Beauty Care, JemPak Corp and Stellwagen Finance Co, which together have an estimated enterprise value of about $1.1 billion. The amounts raised include $70 million from new and existing shareholders. Acasta said it also received a proposal for a $160 million credit facility. The Toronto special purpose acquisition corporation (SPAC) is also planning to launch as a private equity firm.
4 min read · 13 December 2016
Vancouver gaming company Gateway Casinos & Entertainment Ltd has been selected by the Ontario Lottery and Gaming Corp (OLG) as the service provider for gaming operations in Ontario's northern and southwestern regions. As a result, Gateway will add eleven Ontario properties to its portfolio, joining existing properties in British Columbia and Alberta. Gateway said the deal marks the latest step in its evolution since 2010, when Canadian private equity firm Catalyst Capital Group took it under management to restructure the company. With the Ontario expansion, Gateway's total properties will total 29.
4 min read · 13 December 2016
Sweden's IFS has agreed to acquire Mxi Technologies Ltd, an Ottawa provider of maintenance software for the global aviation industry. No financial terms were released for the deal, which is expected to close in Q1 2017. IFS, an enterprise applications company, said the deal makes it "a world leading provider" of software solutions to defense and commercial aviation operators, maintenance, repair, and overhaul companies, and original equipment manufacturers. IFS was acquired by European private equity firm EQT in late 2015.
4 min read · 13 December 2016
U.S. private equity firm Edgewater Capital Partners has acquired Fiber Materials Inc from GrafTech International Holdings Ltd, a portfolio company of Brookfield Asset Management's private equity group. The deal's financial terms were not disclosed. Biddeford, Maine-based Fiber Materials is a designer and maker of advanced composite materials used in aerospace, defense and industrial applications. Independence, Ohio's GrafTech, acquired last year by Brookfield Capital Partners IV, said the sale will allow it to focus on its core graphite electrode and related businesses.
3 min read · 13 December 2016
Canadian financial services firm Equitable Group Inc (TSX: EQB) has entered into a private placement deal with the Ontario Municipal Employees Retirement System (OMERS). The deal will see OMERS acquire common shares of the firm that generate total proceeds of up to $50 million. As a result, the pension fund will hold about 4.9 percent of Equitable's issued and outstanding shares. Equitable intends to use the net proceeds to invest in its subsidiary, Equitable Bank, a Toronto-based provider of residential lending, commercial lending and savings solutions across Canada.
3 min read · 13 December 2016
Match Marketing Group (Match MG) has acquired Trisect, a creative agency headquartered in Chicago. No financial terms were disclosed. Match MG, a shopper activation and consumer engagement agency based in Norwalk, Connecticut and Toronto, said the deal further enhances its portfolio of services. Match MG has been a portfolio company of Canadian private equity firm Beringer Capital since 2011. Earlier this year, Beringer acquired Adweek from Mediabistro Holdings LLC.
3 min read · 12 December 2016
