H-D Advanced Manufacturing Co has acquired Numeric Machine Inc, an Edmonton-based manufacturer of tools and equipment for the oil and gas and mining industries. The deal's financial terms were not released. H-D, a Pittsburgh, Pennsylvania-based components supplier to industrial companies, said Numeric will be added to its engineered solutions group. H-D was formed in December 2012 by U.S. private equity firms Riverside Co, Hicks Equity Partners and Weinberg Capital Group. Numeric is the company's ninth add-on acquisition.
2 min read · 21 July 2016
Canadian private equity firm Walter Capital Partners, which launched last December with a $100 million commitment, has made a debut investment in Bonlook, a Montréal-based optical products company. No financial terms were disclosed. Founded in 2010, Bonlook specializes in providing fashionable, affordable eyeglasses and sunglasses to customers online and via a network of stores. Led by Co-founder and President Sophie Boulanger, Bonlook plans to use the initial and subsequent rounds of financing from Walter Capital to accelerate the brand's expansion and develop a new omnichannel shopping platform.
3 min read · 21 July 2016
Temporary tattoo platform Inkbox has secured $1 million in seed-stage financing. The round was led by U.S. venture capital firm KGC Capital and was joined by several angel investors, including Jeff Probst, host of reality television show Survivor and actress Alison Sweeney. Founded early last year by Tyler Handley and Braden Handley, Toronto-based Inkbox is the creator of a two-week temporary tattoo made from an organic, fruit-based formula. It has to date shipped over 50,000 tattoos to customers in over 100 countries. Inkbox will use the funds raised to grow sales channels, develop its technology, and expand partnerships with artists.
4 min read · 21 July 2016
Caprion Biosciences Inc has been recapitalized and acquired by GHO Capital Partners, a European healthcare investment firm. No financial terms were released. The seller in the deal is Chicago Growth Partners, a U.S. private equity firm that led the buyout of Caprion in mid-2012. Montréal-based Caprion is a provider of immunology and proteomics analytical laboratory services to pharmaceutical and biotechnology companies. It said the new partnership with GHO will support further broadening of the company's customer base and expansion in Europe and elsewhere around the globe.
4 min read · 21 July 2016
DiversiTech Corp, a portfolio company of U.S. private equity firm Jordan Co, has acquired Alltemp Products Co Ltd, a Pickering, Ontario-based supplier of heating, ventilating, air conditioning, and refrigeration (HVACR) parts in Canada. No financial terms were disclosed. Duluth, Georgia's DiversiTech, a manufacturer and supplier of HVACR parts and accessories, said the deal expands its Canadian channel and offers customers in that market a more diverse line of products. DiversiTech was acquired by Jordan in May 2015.
3 min read · 21 July 2016
Biotechnology startup SyntBioLab Inc has secured undisclosed funding from a member of Anges Québec, an angel network that invests in innovative Québec companies. Founded in 2014, SyntBioLab specializes in genetic procedures that optimize industrial production in various industries, such as agri-food. The investment, provided by Sébastien A. Guay, will support the Lévis, Québec-based company's continued global growth through upgrades of its production capacity and distribution networks.
2 min read · 18 July 2016
Alloycorp Mining Inc (TSX-V: AVT) earlier this month agreed to be taken private by U.S. private equity firm Resource Capital Funds (RCF), the company's largest creditor and shareholder. The initiative was triggered by Alloycorp's debt burden, of which RCF has provided US$126 million since 2008. RCF recently converted debt secured by Alloycorp's assets to equity, giving the investor about 90 percent of outstanding common shares. It is offering other shareholders $0.05 per share, which will be subject to a vote on August 8th. Toronto-based Alloycorp is the owner of the Kitsault molybdenum mining project, located north of Prince Rupert, British Columbia.
7 min read · 18 July 2016
MedCurrent Corp, a Toronto-based provider of clinical decision support systems, has raised up to $2.8 million in funding. The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) invested $800,000, with most the balance expected to come from undisclosed angel investors. The round's proceeds will be used by MedCurrent to develop and market its technology, which enables physicians to determine the most appropriate imaging procedures for patients. The company has previously been backed by BDC Capital and MaRS Investment Accelerator Fund.
3 min read · 18 July 2016
Toronto-based specialty lending platform Callidus Capital Corp (TSX: CBL), a portfolio company of Canadian private equity firm Catalyst Capital Group, has announced a new securitization facility. Expected to be initiated at $165 million, the facility is intended to serve as the company's main senior growth-financing vehicle. Newton Glassman, chairman and CEO of Callidus, and a Catalyst managing partner, said the facility diversifies the company's funding and "will become an increasingly larger portion of our capital structure." Callidus, which went public in April 2014, is majority owned by Catalyst.
4 min read · 18 July 2016
Canadian private equity firm Fulcrum Capital Partners has made an equity investment in Canstar Restorations of Coquitlam, British Columbia. No financial terms were disclosed for the deal, which was done in partnership with the company's management team. Canstar is a full-service property restoration company serving both the residential and commercial-institutional markets. Fulcrum said its investment is intended to support the company's continued growth. Canstar is the fourth platform investment of Vancouver-based Fulcrum's fifth mid-market fund. Fulcrum Capital Partners V closed at $344 million in July 2015.
2 min read · 18 July 2016
