Endotronix Inc, a Woodridge, Illinois-based digital health solutions provider, has raised a US$32 million Series C financing. Several new investors joined the round, including Canadian life sciences venture capital firm Lumira Capital. As a result, Lumira and other firms will join existing investors on the board of directors. Endotronix is developing a platform of health management tools for patients suffering from advanced heart failure. The funds raised will back the company's clinical program, including commercialization of its outpatient management system, and a study for its implantable wireless pulmonary artery sensor.
3 min read · 14 July 2016
New York-based meal delivery service Freshly Inc has secured US$21 million in a Series B financing. Insight Venture Partners led the round, with participation from existing investors, including White Star Capital, a venture capital firm founded by Canada's Eric Martineau-Fortin. Launched in early 2015, Freshly currently ships close to 250,000 meals per month. It plans to use the funds raised to increase hiring and expand distribution across the United States. White Star, which has offices in Montréal, New York and London, closed its debut fund at US$70 million last November.
3 min read · 14 July 2016
Colabor Group Inc has proposed a recapitalization strategy to reduce its debt and enhance its capital structure. The related deals include a $50 million rights offering fully backstopped by several investors, including Z-Holdings North ULC, Caisse de dépôt et placement du Québec (CDPQ), Fonds de solidarité FTQ and Investissement Québec. The proceeds of the rights offering will allow the company to reduce its indebtedness by about $47.5 million. Boucherville, Québec-based Colabor is a wholesaler and distributor of food and non-food products to markets in Canada.
10 min read · 14 July 2016
Canadian private equity firm Regimen Equity Partners has made an undisclosed equity investment in Plastifab Industries of Montréal. Founded in 1975, Plastifab is a manufacturer of extruded thermoplastic rod, tube, profile and other shapes for a wide range of industrial and consumer end-uses. It is led by President and CEO Rick Phillips. Regimen said the company is positioned to take advantage of growth opportunities in the fragmented plastics extrusion industry. Earlier this year, Regimen invested in Central Technology Services Corp, a customized financial solutions provider.
2 min read · 14 July 2016
Online freight marketplace Freightera Inc has raised $2.1 million in a financing round. The investors, which are expected to this year invest up to $5 million more, include Robson Capital and Ted Snider Financial. They also include a number of undisclosed U.S. angel investors, among them some early backers of Facebook and Twitter, the company said. Vancouver's Freightera has created a business-to-business online freight service that assists over 2,000 manufacturers, wholesalers and distributors shipping throughout North America. Founded in 2014, the company reports revenue growth of about 300 percent per year.
4 min read · 14 July 2016
Wolf Midstream Inc has agreed to acquire a 50 percent ownership interest in Access Pipeline, a system of pipelines that transport blended bitumen and diluent across Alberta, for $1.4 billion. The seller is Devon Energy Corp. The deal follows Wolf's partnership with Canada Pension Plan Investment Board, announced last September, to establish a midstream investment vehicle focused on opportunities in Western Canada. The Access Pipeline acquisition, expected to close in the third quarter, will be backed by a CPPIB investment of $825 million and third-party debt financing. Access Pipeline is one of three recent deals involving Canadian energy companies backed by CPPIB.
2 min read · 14 July 2016
A consortium led by Canadian infrastructure investment firm Axium Infrastructure has agreed to acquire a 50 percent ownership interest in the Slate Creek Wind Project. No financial terms were released. The 150 megawatt Slate Creek Wind Project, located in Sumner County, Kansas, began operation in December. With the deal's close, the Axium-led group will co-own the asset with its developer and operator, EDF Renewable Energy. Axium manages dedicated infrastructure funds with $1.5 billion in assets, as well as over $900 million in co-investments.
4 min read · 13 July 2016
Angel investors invested $134 million in Canadian startups in 2015, according to a new report by the National Angel Capital Organization (NACO). The report, based on a survey of 32 Canadian angel groups, found dollar flows to some 283 investments up 48 percent relative to 2014. The average deal size was over $1 million. NACO said 2015 is the third year of substantially increased angel investment activity in Canada. It attributed much of last year's growth to increased follow-on deal activity, which more than doubled compared to the year before.
5 min read · 13 July 2016
Joliette, Québec-based Signature Passion, a maker of artisan breads and rolls, has entered into a partnership with Pragma Capital, a Canadian family office. No financial terms were disclosed. With the deal, Marc-André Pouliot, managing partner of Pragma, has been named the company's president. Additionally, Tom Kaneb, formerly a managing director at Avrio Capital, has been appointed chair of the board. Signature Passion, which was founded in 1982, will use the partnership with Pragma to advance its North American growth plan by accelerating product development and expanding manufacturing capacity.
2 min read · 13 July 2016
Canadian water treatment company Ovivo Inc (TSX: OVI.A, OVI.B) has agreed to be acquired by an affiliate of German family office SKion GmbH in partnership with the Caisse de dépôt et placement du Québec (CDPQ). The deal, which will take the company private, has an enterprise value of about $185 million, including debt. Upon the acquisition's close, expected in September, SKion will own a 70 percent interest in Ovivo, and CDPQ, a 30 percent interest. The Verreault family, Fonds de solidarité FTQ and other shareholders have agreed to support the deal. Montréal-based Ovivo said the partnership with SKion and CDPQ will support investments in innovation, acquisitions and other priorities.
10 min read · 13 July 2016
