Canadian smart materials and photonics company Metamaterial Technologies Inc (MTI) has bought Rolith Inc, a provider of nanostructured coatings and devices based in Pleasanton, California. The deal's financial terms were not disclosed. Halifax-based MTI said the acquisition is strategic and will accelerate its ability to develop large-scale optical metamaterial products for aerospace, defense, healthcare and energy industries. Founded in 2011, MTI has raised venture capital funding from Innovacorp, First Angel Network, and other investors. Rolith has been backed by VTB Capital and Asahi Glass Co.
3 min read · 27 May 2016
Canadian enterprise software company Enghouse Systems Ltd (TSX: ESL) has acquired the assets of NetBoss Technologies Inc, a Sebastian, Florida-based provider of network management assurance software and services. The purchase price was about $9.3 million. Toronto-based Enghouse said the deal expands its portfolio of network operator solutions. NetBoss was launched in September 2010 as a result of a spin-out from Aviat Networks Inc. U.S. private equity firm Eureka Growth Capital facilitated the event through its acquisition of the business in partnership with management.
3 min read · 27 May 2016
BlackSquare Inc, an e-commerce platform for the wine and spirits industry, has closed a follow-on financing round. The investment's value was not disclosed. The backers included the Accelerate Fund, an angel co-investment fund managed by AVAC, and several angel investors. Founded in 2009, Calgary-based BlackSquare has created technology to help global wine producers handle regulatory and compliance reporting, and support customer engagement and revenue streams. The funds raised will enable it to expand and develop its global wine database. BlackSquare previously received financing from HorizonOne Asset Management.
3 min read · 26 May 2016
Vancouver-based Thinkingbox has received an undisclosed investment from Stern Partners, a Canadian private equity firm. Founded in 2010 by CEO Amir Sahba, Thinkingbox is a creative and digital production studio servicing agencies and brands in multiple sectors. The investment is intended to help the company expand its service offering, grow its network of global offices, and make strategic hires. It will also support Thinkingbox's acquisitions of similar businesses. Stern Partners, which currently owns 20 independently-managed companies across a range of industries, acquired Canadian clothing chain Comark last July. As reported by PE Hub Canada, Comark was previously owned by KarpReilly.
3 min read · 26 May 2016
Avrio Capital and Novacap are the 2016 recipients of the Canadian Venture Capital & Private Equity Association's (CVCA) “Deal of the Year” awards. Calgary-based Avrio won in the venture capital category for last year’s sale of Fresh Hemp Foods Ltd, a natural foods producer, to U.S. private equity firm The Compass Group. The deal, profiled last July by PE Hub Canada, gave Avrio almost 8.67 times its invested capital and an internal rate of return of 48.24 percent. Montréal-based Novacap won in the private equity category for last year’s public sale of Stingray Digital Group, a music provider and media platform. The sale, profiled last June by PE Hub Canada, gave Novacap about 7.9 times its invested capital and an internal rate of return of 33.8 percent.
4 min read · 26 May 2016
Toronto-based vehicle communications platform Siyata Mobile Inc (TSX-V: SIM) announced it plans to raise gross proceeds of $2 million from a private placement. It said it expects about 25 percent of the transaction will be subscribed for by Shamrock Private Equity. Founded in 2010, Siyata is a provider of cellular connected devices for trucks, commercial vehicles and fleets. The company will use the funds raised for its growth strategy in North America and general working capital.
3 min read · 26 May 2016
Canadian specialty finance firm Crown Capital Partners has closed a $15 million, five-year term loan agreement with Bill Gosling Outsourcing Holding Corp (BGO), a Newmarket, Ont.-based supplier of accounts receivable management services and call centre solutions to global customers. Crown Capital President and CEO Chris Johnson said the debt funding will support the company's continued growth, which is benefiting from "the ongoing shift to business process outsourcing." Founded in 1955, BGO was formerly known as Allied Global Holdings Inc. It has been a portfolio investment of Canadian private equity firm Fulcrum Capital Partners since January 2007.
3 min read · 26 May 2016
Montréal-based portable sound system AmpMe has secured about $10 million (US$8 million) in a Series A financing. The round was led by Canadian mobile venture capital firm Relay Ventures with participation from Investissement Québec, Slaight Music, OMERS Ventures, Townsgate Media and Real Ventures. AmpMe provides a mobile app that syncs streaming music across devices to create a sound system and shared experience. Founded last year, the free app has achieved more than 2 million downloads. It recently added YouTube as a music-streaming source. Led by Founder and CEO Martin-Luc Archambault, AmpMe previously raised $2.5 million from angel investors.
4 min read · 26 May 2016
7shifts, a provider of employee scheduling software for restaurants, has received $1.2 million in seed-stage financing. Canadian mobile venture capital firm Relay Ventures led the round. It was joined by Globalive Capital and by existing investors Boost VC and Tim Draper, founding partner of DFJ. Launched in 2011, Saskatoon-based 7shifts is currently used by more than 1,900 restaurants in North America, Scandinavia, the Middle East, and Australia. The company said it planned to use the funds raised to expand its sales team, add new features and functionality to its scheduling software, and to implement new marketing programs.
3 min read · 26 May 2016
7shifts, a provider of employee scheduling software for restaurants, has received $1.2 million in seed-stage financing. Canadian mobile venture capital firm Relay Ventures led the round. It was joined by Globalive Capital and by existing investors Boost VC and Tim Draper, founding partner of DFJ. Launched in 2011, Saskatoon-based 7shifts is currently used by more than 1,900 restaurants in North America, Scandinavia, the Middle East, and Australia. The company said it planned to use the funds raised to expand its sales team, add new features and functionality to its scheduling software, and to implement new marketing programs.
3 min read · 26 May 2016
