Harvest Urban Wood Recycling Ltd, the Canadian affiliate of Harvest Power Inc, has merged with Smithers Enterprises Inc of Vancouver. No financial terms were released. Harvest, a Waltham, Massachusetts-based organic materials management specialist, said the deal would expand and enhance its wood recycling services in the Vancouver region. Founded in 2008, Harvest is backed by True North Venture Partners, Industry Ventures, Generation Investment Management and other investors.
2 min read · 11 July 2016
GFL Environmental Inc has bought Envirotec Services Inc, a provider of waste management services in Saskatchewan, including emergency response. No financial terms were disclosed. GFL, a diversified environmental services company based in Vaughan, Ontario, said it expects to leverage Envirotec's capabilities in liquid waste operations. Envirotec is the latest in a series of GFL acquisitions, including February's buy of Matrec Services Inc for $800 million. As reported by PE Hub Canada, that deal was backed by $458 million in funding from Macquarie Group, Highbridge Principal Strategies and other investors.
2 min read · 08 July 2016
U.S. hedge fund Cyrus Capital Partners has partnered with SSA Marine Inc and Melford International Terminal Inc in an investment in the Melford Atlantic Gateway Project. No financial terms were released. The project will focus on construction of a 315-acre marine container terminal at the Strait of Canso, Nova Scotia. Once built, the facility is expected to be the closest North American port on the Great Circle Route to Europe and Asia via the Suez Canal. Cyrus holds a majority interest in Melford International, a Halifax-based development company.
4 min read · 07 July 2016
Polystyvert Inc, an Anjou, Québec-based polystyrene recycling company, has secured a $4.9 million round of financing. The investors included members of Anges Québec, Anges Québec Capital Fund, Cycle Capital Management, BDC Capital and Sustainable Development Technology Canada. Founded in 2011, Polystyvert has developed technology to recycle polystyrene, a.k.a. Styrofoam, and reduce is transportation costs. The company said it plans to use the funds raised to scale-up equipment and facilities to meet demand. A new Polystyvert plant is slated to open in the fall of 2016.
6 min read · 07 July 2016
Oxford Networks, a U.S. fibre-optic bandwidth infrastructure services provider, has agreed to be bought by Oak Hill Capital Partners. No financial terms were released. The sellers are Canadian private equity firm Novacap, which acquired a majority interest in Oxford in 2014, and Bank Street Capital Partners (BSCP). Upon the deal's closing, expected in the fourth quarter, Oak Hill will merge the company with FirstLight Fiber, which Oak Hill is buying from Riverside Partners. Novacap, BSCP and Riverside are expected to be minority investors in the combined entity, which will operate a high-capacity fibre-optic network and 10 data centers located across New York and New England.
6 min read · 07 July 2016
U.S. private equity firm Vista Equity Partners said it will invest additional capital in Lone Wolf Real Estate Technologies Inc, a Cambridge, Ontario-based residential real estate software company. No financial terms were released. Vista, which has backed Lone Wolf since March 2015, plans to support the company as it expands its offerings and customer base. The statement was made concurrently with Lone Wolf's appointment of Patrick Arkeveld as its new CEO, replacing Lorne Wallace, the company's founder. Earlier this year, Lone Wolf acquired WhereToLive.com Inc.
4 min read · 07 July 2016
Laborie Medical Technologies Inc, a portfolio company of U.S. private equity firm Audax Group, has made a strategic investment in Medi-Tate Ltd, an Akiva, Israel-based medical device company. No financial terms were disclosed. Founded in 2007, Medi-Tate is the developer of iTind, a procedure to treat the symptoms of enlarged prostate in men. Medi-Tate said the partnership with Laborie will help it to deliver the solution to over 500 million patients. Laborie, a Toronto-based provider of urodynamic testing equipment and consumables, was bought by Audax in July 2012.
2 min read · 07 July 2016
An affiliate of Canada's Brookfield Asset Management has closed its buy of Rouse Properties Inc (NYSE: RSE), a real estate investment trust (REIT) that owns and manages regional malls and retail centres in the United States. The deal, announced earlier this year, valued the company at US$1.06 billion. As a result, New York-based Rouse will see its common stock delisted from the New York Stock Exchange. As reported by Reuters in February, Brookfield was Rouse's largest shareholder prior to the acquisition.
2 min read · 06 July 2016
Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman, has acquired HSBI Benefits Inc. No financial terms were disclosed. Based in Toronto, HSBI Benefits specializes in employee benefits insurance solutions. Its senior executives will join Hub Ontario. Hub, a Chicago-based insurance brokerage with significant operations in Canada, was acquired by Hellman & Friedman for about US$4.4 billion in October 2013.
2 min read · 06 July 2016
Convergint Technologies LLC, a portfolio company of U.S. private equity firm KRG Capital Partners, has acquired Thermo Automation Canada (TACanada), a producer of systems that integrate heating, cooling, access control, ventilation, security and lighting in buildings. No financial terms were released. Convergint said the acquisition of Mississauga, Ontario-based TACanada strengthens its presence in the region and gives it access to several key vertical markets. The deal follows the company's buy of Canada's H&E Comfort Controls Ltd in April.
2 min read · 06 July 2016
