Cahill Services LLC, a portfolio company of U.S. private equity firm Pine Brook Partners, has acquired Drive Rental Corp, a Red Deer, Alberta-based specialty flameless heating rental business with operations in Canada and the United States. No financial terms were disclosed. Cahill, a Houston, Texas-based provider of specialty rental services to energy and related industries, said Drive Rental is its first acquisition since its founding last year. The Canadian company will be rebranded as Cahill Heating. Pine Brook made an initial investment in Cahill last July.
3 min read · 06 June 2016
Contract research organization (CRO) JSS Medical Research Inc has acquired Bonne Santé, a CRO based in Warsaw, Poland. No financial terms were released. Montréal-based JSS, which provides clinical research services to the pharmaceutical, biotechnology and medical device industries, said the deal will facilitate its expansion in Europe and adjacent regions. The company recently received equity financing from Capital Croissance PME (CCPME) a private equity fund affiliated with the Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins.
3 min read · 06 June 2016
The private equity group of Brookfield Asset Management has acquired additional common shares in CWC Energy Services Corp (TSX-V: CWC), a Calgary-based provider of well services to oil and natural gas exploration and production companies in Western Canada. Brookfield, which has invested in CWC since 2007, paid close to $12 million for the shares, increasing its stake from about 70 percent to about 73 percent. As reported by PE Hub Canada, Brookfield this week closed its fourth mid-market private equity fund at its hard-cap target of US$4 billion.
3 min read · 03 June 2016
Patheon, a Canadian-born drug development and manufacturing services provider, has named Michel Lagarde its president. Lagarde joins the company from JLL Partners, the U.S. private equity that helped take Patheon private for US$1.4 billion in March 2014. The deal saw the business amalgamated with a subsidiary of DPx, formed by JLL and Royal DSM. Patheon, which continues to have offices in Canada, is now based in Durham, North Carolina.
3 min read · 03 June 2016
Toronto-based ticketing solutions platform FanXchange has raised $5 million in a Series B financing. Azure Capital Partners and Plaza Ventures invested in the round alongside existing backers, including Gibraltar & Co, which led FanXchange's Series A round in May 2014. With the financing, Dan Park, principal and head of Canadian investments at San Francisco's Azure, has joined the company's board. Founded in 2009, FanXchange provides a business-to-business offering that helps consumers access tickets for major sports, concert and theater events in North America. It plans to use the funds raised to enhance products and technology available to its partners.
3 min read · 03 June 2016
Westport Innovations Inc (TSX: WPT, Nasdaq: WPRT) has closed its previously-announced merger with Fuel Systems Solutions Inc. The deal creates a new Vancouver-based business focused on the alternative fuel, engine and vehicle sector called Westport Fuel Systems Inc. Westport also announced that it has received a US$17.5 million investment from U.S. private equity firm Cartesian Capital Group. Earlier this year, Cartesian agreed to provide the non-dilutive capital as part of an overall US$71.3 million investment in the company.
5 min read · 02 June 2016
Canada's OpenText Corp (Nasdaq: OTEX, TSX: OTC) has agreed to acquire Recommind Inc, a U.S. provider of e-discovery and information analytics. The deal reflects a purchase price of US$163 million. Waterloo-based OpenText said the acquisition will complement its own enterprise information management solutions, and is expected to generate between US$70 million and US$80 million of annualized revenue. San Francisco-based Recommind was founded in 2001 and has received funding from Sapphire Ventures, Kennet Partners and Silicon Valley Bank.
3 min read · 02 June 2016
Canada's OpenText Corp (Nasdaq: OTEX, TSX: OTC) has agreed to acquire Recommind Inc, a U.S. provider of e-discovery and information analytics. The deal reflects a purchase price of US$163 million. Waterloo-based OpenText said the acquisition will complement its own enterprise information management solutions, and is expected to generate between US$70 million and US$80 million of annualized revenue. San Francisco-based Recommind was founded in 2001 and has received funding from Sapphire Ventures, Kennet Partners and Silicon Valley Bank.
3 min read · 02 June 2016
Succession Capital, the U.S. subsidiary of Canadian private equity firm Lynx Equity, has bought North American Shoe Co Inc, a distributor of men’s, women’s and children’s footwear and accessories throughout North America. Established in 1918 and based in East Providence, Rhode Island, the business is Lynx's second acquired in the footwear space. Earlier this year, PE Hub Canada profiled Lynx, a Toronto-based investor in family-owned mid-market companies, along with its Founder and President Brad Nathan.
3 min read · 02 June 2016
OMERS Ventures said it will partner with the Canadian Film Centre's Media Lab in a study of Canada's virtual reality (VR) ecosystem. The study aims to identify key players in the emerging industry and the primary workflows used to bring VR to users. It also aims to uncover areas that suggest particular growth potential. The research will be conducted by consulting firm Nordicity and will be funded by a number of public sector agencies. It will also be supported by Super Ventures, a San Francisco-based incubator and seed fund focused on augmented reality.
4 min read · 02 June 2016
