The growth equity fund is twice the size of its predecessor
3 min read · 27 August 2016
Georgian Partners has secured US$375 million ($485 million) for its third growth equity fund, winning limited partners over to an investment strategy that adds to the firm’s pioneering focus on applied analytics. The Toronto-based firm announced the close of Georgian Partners Growth Fund III this week. It finished with more than twice the committed capital of its predecessor, which raised $200 million in April 2015. Georgian’s Fund III is one of Canada’s largest private tech partnerships on record, according to Thomson Reuters.
3 min read · 26 August 2016
Montréal-based education technology provider GradeSlam has raised $1.6 million in seed-stage financing. The round was led by U.S. venture capital firm Birchmere Ventures, with participation from Canadian firms BDC Capital, Anges Québec and Real Ventures, as well as angels investors and Founder and CEO Philip Cutler. GradeSlam has developed a chat-based learning platform that enables one-to-one support to students at a lower cost than traditional tutoring solutions. Since its launch last year, the platform has seen over 350,000 tutoring sessions in over 80 countries. GradeSlam will use the funds raised to continue growing its user base.
3 min read · 26 August 2016
San Antonio, Texas-based managed cloud company Rackspace (NYSE: RAX) has agreed to be acquired by U.S. private equity firm Apollo Global Management. The deal, valued at US$4.3 billion, is expected to take the company private in the fourth quarter. As part of the transaction, Searchlight Capital Partners, a firm co-founded in 2010 by Erol Uzumeri, formerly the head of Ontario Teachers' Pension Plan's private equity group, made an undisclosed equity investment. Searchlight, which as offices in New York, London and Toronto, acquired Roots Canada Ltd in late 2015.
9 min read · 26 August 2016
U.S. private equity firm Guardian Capital Partners has confirmed its acquisition of Carson-Dellosa Publishing LLC, a Greensboro, North Carolina-based provider of K-8 supplemental education content for parents, teachers and students. No financial terms were disclosed for the deal, which was announced earlier this month by investment bank Lincoln International. The acquisition closed in July, Guardian said. The seller was Canadian private equity firm Birch Hill Equity Partners. Carson-Dellosa was previously an affiliate of Canadian entertainment and education company Cookie Jar Group.
3 min read · 26 August 2016
CDPQ Infra, the infrastructure investment arm of the Caisse de dépôt et placement du Québec, has agreed to acquire assets from Canadian National Railway Co (CN) as part of its Réseau électrique métropolitain (REM) project. The deal, the terms of which were not disclosed, will see CDPQ Infra acquire the aerial structure leading to Montréal's Central Station, along with adjacent land, infrastructure, and other assets. In April, the Caisse said it would commit $3 billion to the REM project, which will create an electrified rail network in the Greater Montréal area.
3 min read · 25 August 2016
Thorasys Thoracic Medical Systems Inc has secured $1.3 million in financing from members of angel investor network Anges Québec. Based in Montréal, Thorasys is a designer and maker of pulmonary function test equipment for the diagnosis and monitoring of lung diseases, such as asthma and COPD. The funds raised will help the company to commercialize its airwave oscillometry technology, a portable device that measures lung functions without patient effort. Thorasys is led by President and CEO Thomas Schuessler.
3 min read · 25 August 2016
The Canadian affiliate of Safway Group Holding LLC has acquired Dalco Services Inc, a Red Deer, Alberta-based provider of full-service lining, coating and abrasive blasting solutions throughout Western Canada. No financial terms were released. With the deal, Dalco will begin operating as an independent business under the Safway Group Canada umbrella. Safway Group Canada said the acquisition will provide expanded coating services to its customers. Waukesha, Wisconsin-based Safway Group, a scaffolding equipment provider, has been backed by U.S. private equity firm Odyssey Investment Partners since late 2009.
3 min read · 25 August 2016
CIMIC Group Ltd has agreed to sell its 29 percent interest in Australian network connectivity provider Nextgen Group Pty Ltd to Ontario Teachers' Pension Plan. CIMIC said it expects to receive net proceeds of about US$190 million to US$210 million from the exit. Ontario Teachers', which acquired a majority stake in Nextgen in June 2013, will as a result of the transaction have 100 percent ownership of the company. CIMIC said the agreement with the Canadian pension fund is subject to the close of Nextgen's sale of network assets to Vocus Communications Ltd. The sale was announced by Nextgen, Ontario Teachers' and CIMIC in June.
2 min read · 25 August 2016
ProMetic Life Sciences Inc (TSX: PLI) has agreed to acquire Telesta Therapeutics Inc (TSX: TST), a Montréal-based company focused on the acquisition and development of therapeutics that treat cancer and other diseases. The deal, expected to close in November, will see ProMetic acquire Telesta's share capital at a price of $0.14 payable in ProMetic common shares. ProMetic, a Laval, Québec-based biopharmaceutical company, said the acquisition provides several strategic benefits. Founded in 1999, Telesta raised US$28.6 million from U.S. venture capital investors last year. ProMetic has secured funding from Thomvest Seed Capital.
5 min read · 24 August 2016
