Aircraft Technical Publishers (ATP) has acquired CaseBank Technologies Inc, a Toronto-based provider of diagnostic, troubleshooting and fault detection solutions for the aviation, aerospace and defense industries. The deal's financial terms were not disclosed. ATP, which is headquartered in San Francisco, said the acquisition will enhance its information management and service offerings to customers in the aviation industry. ATP was acquired by U.S. private equity firm ParkerGale Capital in November 2015.
2 min read · 12 December 2016
Mojio Inc has secured about $19.7 million (US$15 million) in a Series A financing. The round was backed by Amazon Alexa Fund, Deutsche Telekom, BDC Capital and Relay Ventures, as well as BC Tech Fund, which announced its investment in October. Founded in 2012, Vancouver's Mojio has developed a cloud-based connected car platform that supplies apps and services to enterprise customers, including wireless operators, auto manufacturers, car dealers, insurers and fleets. Led by CEO Kenny Hawk, the company plans to use the funds raised to hire additional engineering talent in Palo Alto, Prague and Vancouver to support product launches in 2017.
4 min read · 12 December 2016
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 50 percent stake in a portfolio of office and retail properties in New Zealand from the Public Sector Pension Investment Board (PSP Investments). The interest is valued at about $545 million, with an equity investment of about $216 million. PSP Investments, which bought the assets in 2014, will continue to hold the remaining 50 percent interest. The properties, located primarily in Auckland and Wellington, are managed by AMP Capital.
2 min read · 12 December 2016
The infrastructure arm of Connor, Clark & Lunn Financial Group Ltd and Régime de rentes du Mouvement Desjardins have acquired a majority interest in South Fraser Perimeter Road (SFPR), a 40-kilometre, four-lane expressway in mainland British Columbia. Terms were not released. The interest was sold by the Canadian affiliate of Spain's ACS, Star America Infrastructure Fund and Ledcor Infrastructure Investments. ACS will retain a minority stake and an ACS-led company will provide operation and maintenance services. The SFPR project was completed in 2013 at a cost of $658 million.
3 min read · 12 December 2016
U.S. private equity firm Altamont Capital Partners has acquired Maxi Canada Inc, a manufacturer of frozen food products based in St-Lin-Laurentides, Québec. No financial terms were disclosed. With deal, Altamont's operating partner and CEO of Tall Tree Foods, Tim Bruer, will assume the role of executive chairman. Established in 1970, Maxi Canada has developed a portfolio of frozen poultry products sold across North America under the Yummy and Dino Buddies brands. The partnership with Altamont is intended to support the company's continued growth in the United States and its development of new products.
2 min read · 12 December 2016
Element AI, an Montréal artificial intelligence (AI) incubator, has received an undisclosed investment from Microsoft Ventures, the venture capital arm of U.S. technology giant Microsoft Corp. The investment, the first made by Microsoft Ventures in an AI-focused company, will support the incubator's goal of helping large corporations, entrepreneurs and researchers solve "hard problems with AI," Element AI said. Element AI was launched in October by Jean-François Gagné, Nicolas Chapados and Yoshua Bengio with the backing of Canadian early-stage venture capital firm Real Ventures.
2 min read · 12 December 2016
Toronto digital marketing startup Maropost has secured an undisclosed investment from U.S. venture capital firm Elephant Partners and European venture capital firm Highland Europe. Founded in 2011 by CEO Ross Andrew, Maropost provides e-mail and digital marketing automation solutions to help enterprises connect with customers. It placed fourth on Deloitte's 2016 Canadian Technology Fast 50, showing a five-year revenue growth rate of 3,809 percent. The company said the funds raised will allow it to continue expanding its geographic footprint and accelerate the development of new products and functionality, including machine learning.
4 min read · 12 December 2016
Investel Capital Corp has acquired all of the shares of RuralCom Corp, a Vancouver wireless operator offering services in under-served areas in Canada, from RuralCom Capital Corp. No financial terms were disclosed. Vancouver-based TNW Networks Corp, a telecommunication services provider and Investel affiliate, said RuralCom will now operate under its wireless brand. Investel, which has offices in Vancouver and Toronto, specializes in acquiring telecom companies, including distressed and underachieving companies, and developing new technologies.
3 min read · 09 December 2016
Abattis Bioceuticals Corp has agreed to receive a draw-down equity facility of up to $5 million. The investor is Alumina Partners, a U.S. private equity firm. Abattis, which is based in Vancouver, aggregates, integrates and invests in agricultural technology and biotechnology services for the emerging cannabis industry in Canada. It said it will use the proceeds of the facility to focus on growth opportunities and potential acquisitions.
4 min read · 09 December 2016
Desjardins Business Capital régional et coopératif, the private equity and venture capital arm of Desjardins Group, announced the appointment of Sylvain Dupuis as managing vice president of its investments division. Dupuis, who joined the organization in 2010, will be responsible for all investment activity in Québec. This will include overseeing a portfolio valued at nearly $1 billion and leading an investment team of about 40 professionals. Desjardins Business Capital régional et coopératif, which manages three funds, named Luc Ménard as its chief operating officer in August.
2 min read · 09 December 2016
