Cannon Services, acquired earlier this year by Canadian private equity firm Birch Hill Equity Partners, has bought Sani-Service, a provider of commercial washroom hygiene services and chemical services. No financial terms were disclosed. The seller in the deal was Serruya Private Equity, which acquired Markham, Ontario's Sani-Service in August 2015. Cannon, a Toronto-based provider of washroom hygiene, pest control and life safety services for commercial facilities, is led by Peter Farrell. Farrell said the acquisition of Sani-Service supports the company' growth strategy, enhances its service offering, and expands its market presence across Canada.
3 min read · 22 September 2016
Canadian private markets investor Northleaf Capital Partners has added to its private credit team with the hires of Brett Lauber as a director and Daniel Gardiner as an associate. Lauber, formerly a senior executive at Fifth Street Asset Management, will operate from Northleaf's Chicago office, while Gardiner, formerly a member of Citigroup's leveraged finance team, will be based in London. Earlier this month, Northleaf announced it had appointed David Ross, Alex Jackson and Daniel Nguyen to the team. Ross will serve in London as managing director and head of private credit.
2 min read · 22 September 2016
Vancouver-based ELIX, a wireless charging technology provider, has secured US$5 million in Series A funding. Chongqing Zongshen Power Machinery Co Ltd, an affiliate of China's Zongshen Group, led the round. Founded in 2013 as a spin-out from the University of British Columbia, ELIX produces a wireless power transfer technology using magneto-dynamic coupling. The product is targeted to a wide range of industries. ELIX said the funds raised, and its partnership with Zongshen, will back development and manufacturing of its wireless chargers for Chinese and North American markets.
4 min read · 20 September 2016
The Kenan Advantage Group Inc, a portfolio company of OMERS Private Equity, has acquired Agri-Carriers Group Inc (ACG), a Jackson, Illinois-based provider of food-grade transportation services. The deal, the terms of which were not disclosed, includes ACG's two trucking operations, Landes Trucking and Charles G. Lawson Trucking. Kenan, a tank truck transporter and logistics specialist, said the acquisition is a strategic fit that doubles the size its food transportation business. North Canton, Ohio-based Kenan was bought by OMERS from Goldman Sachs Capital Partners and Centerbridge Partners last year.
2 min read · 20 September 2016
Farmers Edge Inc, which secured $58 million in follow-on financing in January, announced an $18.3 million investment. Sustainable Development Technology Canada (SDTC) provided $6.1 million, with $12.2 million coming from unidentified internal sources and consortium partners. Winnipeg-based Farmers Edge is a provider of precision agriculture and independent data management solutions. It said the funds raised will be used to develop a next generation of environmentally sustainable agronomic decision support systems. The company's investors include Avrio Capital and Kleiner Perkins Caufield & Byers.
3 min read · 20 September 2016
Fewer Canadian small and mid-sized enterprises (SMEs) are scaling up today relative to 15 years ago, according to a new study by the Business Development Bank of Canada (BDC). BDC found only "a tiny fraction" of small businesses (0.10 percent, or one in 1,000) grew past the 100-employee mark, down 40 percent from 2001. Additionally, mid-sized companies made up 0.93 percent of the total number of Canadian companies in 2013, down from 1.04 percent in 2001. BDC said the study's findings reinforce the importance of financing and advisory services to help more SMEs to scale up.
3 min read · 20 September 2016
Calgary energy producer InPlay Oil Corp, a portfolio company of Canadian private equity firms JOG Capital and Sprott Resource Corp, has agreed to combine with Anderson Energy Inc (TSX: AND). The deal will entitle InPlay and Anderson shareholders to receive equity in the new company, also called InPlay Oil Corp. With the deal's closing, JOG's Donald Cowie, Sprott Resource's Steve Yuzpe and other investor representatives will serve on the new board. InPlay also announced its buy of Cardium light oil assets in Alberta's Pembina region for $47 million. It plans to use the proceeds of a $70 million private placement offering to fund the acquisition and other priorities.
10 min read · 20 September 2016
Toronto-based food technology company Chefs Plate has raised $6 million in follow-on funding. German venture capital firm Acton Capital Partners led the round. It was joined by Emil Capital and BrandProject, which led the company's $2 million financing in October 2015. Founded in 2014, Chefs Plate delivers pre-portioned, locally-sourced fresh ingredients and recipes to homes. Originally focused on the Ontario market, the company has expanded into British Columbia, Alberta and Manitoba. Chefs Plate will use the funds raised to grow its e-commerce team, continue expansion across Canada, and advance local supplier partnerships.
4 min read · 20 September 2016
DarkVision Technologies Inc has secured $5 million in a Series A financing. The round was co-led by Canadian venture capital firm BDC Capital and Evok Innovations, a $100 million clean technology fund launched earlier this year. With the round, BDC Partner Geoff Catherwood and Evok CEO Marty Reed joined the company's board. Vancouver-based DarkVision has developed ultrasound-based imaging technology for use inside of oil and gas wells. It allows energy companies to reduce operating costs, increase production efficiency, and minimize environmental impacts. DarkVision said it is planning for initial customer deployments later in 2016.
3 min read · 20 September 2016
Enthusiast Gaming Inc (EG) has raised $600,000 in seed-stage financing. Angel investors, including York Angel Investors and Spark Angel Network, backed the round. Toronto-based EG is a media company focused on the video gaming veritical. Since its inception three years ago, it has expanded its community of gamers across digital properties, community forums and live events, including the recently launched "Enthusiast" social media platform. EG plans to use the funds raised to continue growing its gaming network and increase ad serving and monetization capabilities.
3 min read · 19 September 2016
