Clearpath Robotics Inc has secured about $39.5 million (US$30 million) in follow-on funding, adding to the $14 million raised in the company's Series A financing in early 2015. The latest round was led by Canadian venture capital firm iNovia Capital, with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank. Founded in 2009, Kitchener, Ontario-based Clearpath is a provider of self-driving vehicle solutions to over 500 brands around the globe. Last year, it launched OTTO Motors to focus on vehicles for material transport inside manufacturing and warehouse operations. It plans to used the funds raised to grow the division.
4 min read · 05 October 2016
3 min read · 05 October 2016
The Canadian branch of PNC Bank N.A. has provided a $17.1 million financing package to Doxim Solutions ULC, a Markham, Ontario-based provider of SaaS customer engagement solutions for banks, credit unions and wealth management firms. The package included a $1.9 million senior secured revolver with a $15.2 million senior secured term loan. The company will use the funds to refinance existing debt and for working capital. Doxim has been majority-owned by U.S. private equity firm Strattam Capital since late 2014.
2 min read · 04 October 2016
Kinderhook Industries has sold its interest in Rizzo Environmental Services Inc to GFL Environmental Inc. The undisclosed deal, previously announced by Toronto-based GFL, saw Rizzo folded into GFL's U.S. subsidiary. Sterling Heights, Michigan's Rizzo is a specialist in municipal, commercial and industrial solid waste collection and in commercial recycling processing and brokerage. Kinderhook, a U.S. private equity firm, acquired the company in September 2012. GFL, an environmental services company, is backed by several investors, including U.S. private equity firm HPS Investment Partners.
3 min read · 04 October 2016
Ranir LLC has acquired Toronto's BrushPoint Innovations Inc, a maker of manual and power toothbrushes. No financial terms were released. Ranir, a Grand Rapids, Michigan-based maker of store-brand, private-label consumer oral care products, said the combination of the two companies provides for a more robust offering of products and services, enhanced manufacturing capabilities, and a broader distribution reach. Ranir is backed by U.S. private equity firms Beringea, Camden Partners and Linden, as well as other investors.
3 min read · 04 October 2016
Canadian alternative equity firm Alaris Royalty Corp has repurchased its investment in Solowave Designs LP, a Mount Forest, Ontario-based designer and maker of outdoor living products. The repurchase, which provided Alaris with proceeds of $44.6 million, resulted after Solowave sold its children's play division, which represents most of its earnings. Alaris, which has backed Solowave since late 2010, said it earned a total return of $33.5 million, and an internal rate of return of about 17 percent. Earlier this year, PE Hub Canada reported on Alaris' exit from LifeMark Health.
8 min read · 04 October 2016
Northleaf Capital Partners has appointed Jon McKeown to the newly created role of director, investment solutions and distribution. McKeown will develop solutions to support the Toronto-based firm's global private markets investment strategies through new distribution channels, with a focus on pension funds, asset managers and financial institutions. McKeown joined Northleaf from asset manager Värde Partners, where he served as global head of strategy, risk and analytics. Prior to then, he was a principal with Bain & Co.
1 min read · 04 October 2016
The Ontario Securities Commission (OSC) has appointed Jeff Kehoe as enforcement director, effective October 11th. Kehoe was formerly a managing partner and general counsel at Difference Capital Financial, a Canadian specialty finance firm. He currently chairs the Ontario Capital Growth Corp, a government agency that oversees the Ontario Emerging Technologies Fund and provincial interests in Ontario Venture Capital Fund and Northleaf Venture Catalyst Fund.
2 min read · 04 October 2016
Canadian women’s fashion retailer Aritzia Inc (TSX: ATZ), a portfolio company of U.S. private equity firm Berkshire Partners, has completed its initial public offering (IPO). Aritzia sold 25 million subordinate voting shares, raising total gross proceeds of $400 million. An additional $60 million may be raised if an over-allotment option granted to underwriters is exercised. The IPO's proceeds will go to selling shareholders, including Berkshire, which acquired Vancouver-based Aritzia in late 2005.
5 min read · 04 October 2016
Australia’s Macquarie Group and U.S. private equity firm HPS Investment Partners have invested $225 million in GFL Environmental Inc, a Toronto-based environmental services company. The funds raised will used in part to redeem $247 million of senior unsecured notes. GFL also announced its buy of Rizzo Environmental Services Inc, a U.S. provider of solid waste collection and recycling processing and brokerage, and its acquisition of Enviro-Smart Organics Ltd and West Coast Lawns, a Canadian waste processing facility and turf farm. In February, GFL raised $458 million from private equity investors to support its buy of Matrec Services Inc.
4 min read · 03 October 2016
