OMERS Private Equity tripled its investment in Give & Go Prepared Foods with the recent sale of the Canadian baked-goods maker to Thomas H. Lee Partners. Terms weren’t disclosed for the deal, which closed earlier this month. Reuters previously reported Give & Go's sale could fetch as much as $1 billion (US$800 million).
2 min read · 15 August 2016
ONCAP, the mid-market private equity arm of Onex Corp, has confirmed its previously announced agreement to acquire Tecta America Corp, a Rosemont, Illinois-based provider of commercial roofing services, including installation, replacement and repair services. The deal, valued at US$280 million in total, will see ONCAP and its partners invest US$130 million. ONCAP is acquiring Tecta from U.S. private equity firm Oaktree Capital Management, which bought the company in mid-2013. The deal, expected to close in the third quarter, is being made by ONCAP III. Tecta is expected to be the fund's last investment, Toronto-based ONCAP said.
4 min read · 15 August 2016
ONCAP, the mid-market private equity arm of Onex Corp, has made its first new investment in a year, agreeing to acquire commercial roofing company Tecta America for about US$130 million. The deal was struck this month by ONCAP III in partnership with other investors and the company’s management team. The seller is Oaktree Capital Management, a U.S. private equity firm. Oaktree bought Tecta for an undisclosed sum in July 2013.
2 min read · 11 August 2016
Canadian real estate technology platform Spark has secured $1 million in a first round of financing. The investors were not disclosed. Based in Vancouver, Spark develops software for selling, marketing and managing new development real estate, from pre-sale condos and single family homes to master-planned communities. It tracks and manages close to $10 billion of inventory. Founded in 2012 by CEO Simeon Garratt and COO-CPO Cody Curley, Spark plans to use the funds raised to expand internationally, focus on research and development, and acquire new talent.
3 min read · 11 August 2016
Canadian merger and acquisition (M&A) activity at home and abroad in the second quarter of 2016 reached its highest level since Q3 2014, despite a substantial drop in deal values, Crosbie & Co reported. Figures developed from Capital IQ and other sources showed 709 deals capturing $47.9 billion in Q2 2016, compared to 652 deals worth $75 billion a year ago. Domestic M&A activity saw year-over-year gains in both volume and dollars invested between April and June, with 482 deals valued at $19.8 billion. Crosbie said the overall increase in M&A transactions was driven in resource sectors, which are experiencing the effects of more stable commodity prices.
3 min read · 11 August 2016
Aurora Cannabis Inc (CSE: ACB) has agreed to acquire CanvasRx Holdings Inc, a Toronto-based medical cannabis patient outreach service. Under the terms of the deal, Vancouver's Aurora, a medical marijuana producer, will buy all of CanvasRx's issued and outstanding shares for up to $37.5 million. The company also announced its close of a private placement transaction, generating gross proceeds of $23 million, which will help fund the acquisition. Earlier this year, Aurora secured an equity facility of up to $5 million from Alumina Partners, a U.S. private equity firm.
4 min read · 10 August 2016
New York-based education-to-employment specialist General Assembly (GA) has acquired Bitmaker Labs, a Canadian provider of education in computer programming and technology. No financial terms were disclosed. GA said Toronto-based Bitmaker's team, including CEO and Founder Andrew Mawer, will continue to lead the company's growth as a subsidiary. Founded in 2012, Bitmaker raised funding in November 2014 in a round led by Russell Square Partners. GA has raised close to US$120 million in venture capital since its launch in 2011. Its backers include Advance Publications, GSV Capital, IVP, Learn Capital, Maveron and Wellington Management.
4 min read · 10 August 2016
Kira Talent Inc has raised $5 million in a Series A financing, bringing its total funding so far to $8 million. The startup's existing backers contributed to the latest round. They include Canadian venture capital investors Relay Ventures and BDC Capital IT Venture Fund, as well as Globalive Capital and Roger Martin. Founded in 2012, Toronto-based Kira has developed video admissions and talent assessment technology for post-secondary institutions. The company reports that more than 250,000 students from more than 110 countries are expected to use its platform this year. Kira plans to use the funds raised to develop new product offerings and expand its client base.
3 min read · 10 August 2016
TIP Trailer Services Group has acquired Train Trailer Rental Ltd, a Canadian provider of trailer rentals, leasing and storage. No financial terms were released. TIP Trailer Services, a European transport equipment leasing, rental and service solutions company based in Amsterdam, said the deal will help it expand into the Canadian market. The business, formerly a subsidiary of GE Capital, was bought in October 2013 by China's HNA Group Co Ltd and Bravia Capital, a Hong Kong private equity firm.
2 min read · 09 August 2016
Taxelco, a transportation holding company founded by Canadian growth equity firm XPND Capital, has acquired Taxi Diamond, the largest taxi fleet in Montréal. No financial terms were disclosed for the deal, which will see Taxi Diamond's existing management team remain in place. Taxi Diamond will join two other Taxelco brands: Taxi Hochelaga, acquired last year; and Téo Taxi, an electric taxi service that recently secured financing from XPND. The brands currently manage a combined fleet of 1,720 vehicles. XPND is led by Managing Partner Alexandre Taillefer. The firm closed its second fund, XPNDCroissance Fund, at $75 million in March.
3 min read · 09 August 2016
