Cubico Sustainable Investments has acquired ten U.K. operational solar projects totaling 65 megawatts from British Solar Renewables. Financing of eight of the parks was arranged in a facility with National Australia Bank. The other parks are expected to enter the facility shortly, taking total debt for the acquired assets to £60 million. With the deal, Cubico’s portfolio now comprises 29 wind, solar and water infrastructure assets located in eight countries. Cubico was launched in May 2015 with the backing of Canada's Ontario Teachers’ Pension Plan (OTPP) and PSP Investments in partnership with Banco Santander SA.
3 min read · 30 June 2016
Brookfield Global Integrated Solutions has agreed to acquire the Canadian real estate facilities management business of SNC-Lavalin (TSX: SNC). No financial terms were disclosed for the deal, which is expected to wrap up by the end of 2016. The SNC-Lavalin unit manages multi-million square feet and employs more than 1,000 team members. Its proposed acquisition is the second this month for Brookfield GIS, coming on the heels of the company's announcement to buy McKinstry FMS. Markham, Ontario-based Brookfield GIS is backed by the fourth private equity fund of Brookfield Asset Management, which recently closed at US$4 billion.
3 min read · 30 June 2016
AT&T Inc (NYSE: T) has closed its acquisition of Quickplay Media Inc, a Canadian portfolio company of U.S. private equity firm Madison Dearborn Partners. No financial terms were disclosed for the deal, which was announced in May. Toronto-based Quickplay, a managed video platform that powers video over all networks and devices, was acquired by Madison Dearborn for US$100 million in July 2012. The company also received funding from Orix Ventures and Difference Capital Financial.
3 min read · 30 June 2016
Caisse de dépôt et placement du Québec (CDPQ) has invested about $289 million (€$200 million) in Eurofins Scientific SE, a provider of clinical diagnostic testing headquartered in Luxembourg. Eurofins, which went public in 1997, operates more than 225 laboratories across 39 countries to test food, environment and pharmaceutical products. Its sales have increased by 37 percent each year, to reach over €1.9 billion in 2015, Eurofins reported. The proceeds of the private placement deal will enable the company to continue making acquisitions in an industry that remains fragmented, CDPQ said.
3 min read · 30 June 2016
Kitchener, Ontario-based Mappedin, a provider of indoor search software, has raised an extension to its seed-stage financing, bringing its total funding to $3.5 million. Green Century Investments led the round, with participation by Amolino and several local angel investors. Founded in 2011, Mappedin reported revenue growth of more than 500 percent last year and is forecasting a tripling of revenue by the end of 2016. The startup said it used the funds raised to hire sales and marketing personnel, and is now positioned to respond to increasing demand for its technology from malls, REITs, and retailers.
3 min read · 30 June 2016
The government of Nova Scotia has made a $25 million commitment to a new venture capital fund. The fund, which will be private sector-led, aims to increase the amount of financing available to high-growth Nova Scotia startups. Innovacorp will lead a process to find an experienced business leader or firm to administer the fund and attract additional private investment. This process will be assisted by Rob Barbara, a general partner at Build Ventures; Charles Baxter, a vice-president at Innovacorp; Dominique Belanger, a managing director at BDC Capital; and Gilles Duruflé, a consultant.
3 min read · 29 June 2016
Intelex Technologies Inc has acquired Ecocion, a U.S. software company focused on environmental management information systems. No financial terms were disclosed. Toronto-based Intelex said the deal is one of several "key strategic actions" taken as part of the $160 million investment it received from U.S. growth equity firm JMI Equity and HarbourVest Partners in August 2015. It said the acquisition will extend the company's reach as a vendor of cloud-based software in the environmental, health, safety and quality management space. Intelex added that it plans to invest to grow capacity in Ecocion's Denver, Colorado location.
3 min read · 29 June 2016
Australia's Nextgen Group has agreed to sell its network assets to Vocus Communications Ltd. No financial terms were released; Reuters reported, however, the deal was valued at as much as US$640 million. The acquired assets will include Nextgen's North West Cable system and the planned Australia Singapore Cable. Melbourne-based Nextgen is owned by the Ontario Teachers' Pension Plan (71 percent) and CIMIC Group Ltd (29 percent). Ontario Teachers', which acquired the company in June 2013, will retain ownership of the group in partnership with CIMIC following the sale.
3 min read · 29 June 2016
Domtar Corp (NYSE, TSX: UFS) has bought the assets of Butterfly Health Inc, a Los Gatos, California-based provider of a personal hygiene solution for accidental bowel leakage. No financial terms were released. Domtar, a Canadian manufacturer of fibre-based products, made the acquisition via its personal care division. It said it would leverage its global footprint to expand commercialization of Butterfly's product in new healthcare markets. Founded in 2012, Butterfly was backed by a number of investors, including Canaan Partners and HealthTech Capital.
2 min read · 29 June 2016
Bridon, a U.K.-based portfolio company of Ontario Teachers’ Pension Plan (OTPP), has closed its merger with the rope business of Belgium’s Bekaert. No financial terms were disclosed for the deal, which was announced in December. The new ropes and advanced-cords company, Bridon-Bekaert Ropes Group, will be jointly owned by Bekaert and OTPP. It will have operations in some 17 countries. Teachers’ Private Capital, the private equity arm of OTPP, acquired Bridon in October 2014.
2 min read · 29 June 2016
