The Fonds de solidarité FTQ has made a $15 million capital commitment to Genesys Ventures III, the third life sciences fund of Canadian venture capital firm Genesys Capital. The Fonds said the investment is consistent with its strategy of working with specialized funds with a market history in Québec. PE Hub Canada reported this week that Toronto-based Genesys raised $90 million in the initial close of Fund III, which is targeted to raise $125 million in total. The Fonds was one of 14 limited partners that participated in the initial close. Another was HarbourVest Canada Growth Fund.
2 min read · 18 August 2016
Aritzia Inc, a retailer of women’s apparel and accessories, has filed with securities regulatory authorities across Canada for an initial public offering of subordinate voting shares. No financial terms were disclosed. The transaction contemplates a secondary offering of shares held by Brian Hill, Aritzia's founder and CEO, and by U.S. private equity firm Berkshire Partners, which acquired a controlling stake in the company in December 2005. CIBC World Markets Inc, Merrill Lynch Canada Inc and TD Securities Inc are leading the sale. Based in Vancouver, Aritzia was established in 1984 and today has more than 75 locations in cities across Canada and the United States.
3 min read · 18 August 2016
Genesys Capital has collected most of the $125 million target set for its third venture fund, adding to the momentum felt of late in Canada’s life-sciences sector. Genesys Ventures III initially closed at $90 million in committed capital, the Toronto-based firm announced this week. That puts the fund more than 70 percent of the way to reaching its final goal, expected early next year, Managing Director Damian Lamb told PE Hub Canada.
3 min read · 16 August 2016
An affiliate of Canadian specialty foods producer Premium Brands Holdings Corp (TSX: PBH) has agreed to acquire the business and certain assets of Fletcher's Fine Foods Ltd, a U.S. protein products company serving retail and food service customers. The deal reflects a purchase price of US$5 million and is expected to closed next month. Premium Brands said the acquisition brings together three of the U.S. Pacific Northwest's "most iconic specialty packaged meat brands." Vancouver-based Premium Brands is a portfolio investment of Canadian private equity firm Pender West Capital Partners.
5 min read · 16 August 2016
Canadian private equity firm Penfund has closed an investment in Plews & Edelmann, a U.S. designer, maker and distributor of automotive and industrial replacement parts and accessories. No financial terms were released. Based in Dixon, Illinois, Plews is controlled by Eigen Capital, a U.S. private equity firm. Eigen acquired the company from Tomkins Ltd in April 2011. Toronto-based Penfund, a provider of junior capital to North American mid-market companies, is currently raising its fifth fund. PE Hub Canada reported Penfund Capital Fund V is expected to soon close above its $525 million target.
2 min read · 16 August 2016
Canadian private equity firm Penfund has led a second lien loan financing in support of Thomas H. Lee Partners' (THL) acquisition of Give and Go Prepared Foods Corp. No financial terms were disclosed. Give & Go, a Canadian maker of sweet baked goods, was bought by THL from OMERS Private Equity (OPE) earlier this month. PE Hub Canada reported that OPE tripled its investment as a result of the deal. Toronto-based Penfund, a provider of junior capital to North American mid-market companies, is currently raising its fifth fund. PE Hub Canada reported Penfund Capital Fund V is expected to soon close above its $525 million target.
3 min read · 15 August 2016
Paramount Resources Ltd (TSX: POU) has received shareholder and regulatory approvals for its previously announced sale of Alberta-based oil and gas properties to Seven Generations Energy Ltd (TSX: VII). The deal, valued at $1.9 billion, is expected to close this week. Calgary-based Seven Generations is focused on the acquisition and development of tight-rock, natural gas resource plays. It is a portfolio company of Canada Pension Plan Investment Board.
2 min read · 15 August 2016
Joliette, Québec-based Intelia Inc, an agricultural technology company, has received undisclosed financing. Canadian venture capital firm Avrio Capital, which announced its investment in May, partnered with Anges Québec and Desjardins-Innovatech in the round. Since 2013, Intelia has focused on designing, making and distributing a line of control systems and data analytics services for livestock farming. The company plans to use the funds raised to target opportunities in the global agricultural data analytics market. Intelia is led by CEO Dominic Désy and President Claude Lafleur, an Anges Québec member.
2 min read · 15 August 2016
Cubico Sustainable Investments has partnered with Plenium Partners in the acquisition of a 67 megawatt wind farm in Valencia, Spain. No financial terms were released for the deal, which saw Cubico and Plenium buy the farm from Enerfin, a wind farm developer and operator affiliated with Spain's Elecnor Renewables. Plenium holds a minority position in the asset and will act as its manager. Cubico, a London-based renewable energy business, is jointly owned by Ontario Teachers’ Pension Plan (OTPP) and Public Sector Pension Investment Board (PSP Investments). Last month, OTPP and PSP bought Banco Santander SA's interest in the company.
2 min read · 15 August 2016
The Canadian life sciences firm tells VCJ it expects to reach its goal early next year
3 min read · 15 August 2016
