Investissement Québec (IQ) and Fonds de solidarité FTQ have acquired a 60 percent stake in Plastique Micron, a Sainte-Claire, Québec-based plastic container manufacturer. No financial terms were disclosed for the deal, which will see the balance of the company's interest held by two managing shareholders. Founded in 1971, Plastique Micron makes products designed for the pharmaceutical, cosmetics and food industries, as well as for industrial uses. Bernard Poitras, the company's president, said the partnership with IQ and Fonds de solidarité FTQ will support new investments in additional production lines and acquisitions.
3 min read · 08 December 2016
Goddess Garden Organics, a U.S. provider of natural, certified-organic sunscreen products, has secured an undisclosed amount in a Series A financing. The round was led by Renewal Funds, a Canadian impact venture capital firm. Founded in 2004 by Nova Covington, Boulder, Colorado's Goddess Garden has a suncare line that is carried in close to 10,000 stores in the United States and Canada. The company's partnership with Renewal Funds is intended to accelerate its environmental mission.
3 min read · 08 December 2016
Canadian specialty food products company Premium Brands Holdings Corp (TSX: PBH) has acquired Diana's Seafood, a supplier of fresh and frozen seafood products to retail and foodservice customers in the Greater Toronto Area. No financial terms were released. The deal, which comes on the heels of the company's buy of Island City Baking earlier this month, will help it build "Canada's only national seafood distribution network," Premium Brands said. Based in Vancouver, Premium Brands has been a portfolio investment of Canadian private equity firm Pender West Capital Partners since 2005.
3 min read · 08 December 2016
Resolver Inc has acquired the risk management product suite of Wynyard Group Ltd, a security software company based in Auckland, New Zealand. No financial terms were disclosed. The deal took place after Wynyard's placement into voluntary administration. Resolver, a Toronto provider of risk and incident management software, said the acquisition increases it global footprint through additional offices and adds more than 150 customers. Resolver was acquired by Canadian private equity firm Klass Capital last year. In March, Klass invested an additional $4 million in the business.
3 min read · 08 December 2016
TruLeaf Sustainable Agriculture Ltd, a Bible Hill, Nova Scotia indoor farming company, has closed an $8.5 million equity financing. Mike Durland, a former Scotiabank executive, led the round and was joined by a group of Canadian investors. With the deal, Durand and Neil Murdoch, a former Connor, Clark and Lunn Financial Group executive, will join the company's board. Founded in 2011, TruLeaf has developed a vertical farming technology system to grow nutrient-rich, pesticide-free produce. It will use the funds raised to expand its product offerings and enter new markets. TruLeaf is also backed by Innovacorp.
4 min read · 08 December 2016
Beagle Inc has secured an undisclosed investment from Nextlaw Labs, a legal technology venture development firm launched by law firm Dentons. Based in Kitchener, Beagle has developed technology that utilizes artificial intelligence to read contracts, highlight key information and provide understanding. Dan Jansen, CEO of Nextlaw Labs, said his firm invested to "transpose Beagle's self-service contract review model to fit within a big law client environment like Dentons." Founded in 2013 by Cian O'Sullivan, Beagle is Nextlaw Labs' second Canadian deal.
3 min read · 08 December 2016
Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), and Ontario Teachers’ Pension Plan announced they are undertaking a strategic review of their ownership of HS1 Ltd, the owner and operator of High Speed 1, a U.K. high-speed rail system. The review has been prompted by investment inquiries from third parties, Borealis and Ontario Teachers' said. The pension funds acquired the 30-year concession for the HS1 network for £2.1 billion ($3.5 billion) in 2010. The network comprises the 109 kilometre rail line and stations between London and the Channel Tunnel.
3 min read · 08 December 2016
Calgary financial technology startup Symend Inc has raised $1 million in a seed-stage financing. The round's backers included the company's founding partners as well as several undisclosed angel investors. Launched this year by CEO Hanif Joshaghani and CMO Tiffany Kaminsky, Symend is developing software that combines automation, predictive analytics, and expanded treatments to reduce debt delinquency and promote transparency in the collection process. It plans to use the funds raised to build out the prototype and launch a pilot platform in the first half of 2017.
5 min read · 08 December 2016
Delta-Q Technologies Corp, a Vancouver provider of battery charging solutions for electric vehicles and industrial machines, has been bought by Italy's Zapi SpA. No financial terms were released for the acquisition, which included shares held by Canadian growth equity firm Tandem Expansion Fund. Zapi, a specialist in motion control for battery and hybrid-powered vehicles, said it will support Delta-Q's growth plans under the existing brand name. Delta-Q, which is led by Co-Founder and CEO Ken Fielding, has been backed by Tandem since 2010. In that year, Tandem invested $17 million in the company.
3 min read · 07 December 2016
Breather, a Canadian provider of on-demand meeting rooms and workspaces, has raised about $53 million (US$40 million) in a Series C financing, bringing its total funding so far to nearly $100 million (US$73 million). The round was led by U.S. venture capital firm Menlo Ventures and joined by existing backers Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures. Founded by CEO Julien Smith and CCO Caterina Rizzi in 2012, Breather operates a network of more than 300 spaces across 10 global markets, including New York, San Francisco and London. The Montréal company reports tripling its footprint this year and plans to continue its expansion into new markets in 2017.
3 min read · 07 December 2016
