Catalyst Paper Corp (TSX: CYT) said its four largest shareholders and Kejriwal Group International (KGI) have expressed an interest in acquiring the company. The shareholders, which hold or control about 79 percent of Catalyst's outstanding common shares, are: Mudrick Capital Management, Cyrus Capital Partners, Oaktree Capital Management and Stonehill Capital Management. The investor group indicated it may seek to acquire Catalyst's equity at $6 per share and exchange certain debt, with an investment by KGI of $60 million. Catalyst, a Richmond, B.C.-based pulp and paper company, said it would be "pleased to review and evaluate any proposal" that emerges from the group's expression of intent.
4 min read · 24 May 2016
Kent Thexton has been selected to head ScaleUP Ventures, a Toronto-based venture capital firm launched last year. He has assumed the role of general partner and will be responsible for overseeing the firm's early-stage investment activity in Ontario. Prior to joining ScaleUp, Thexton was a managing director at OMERS Ventures. He also spent close to 25 years as a founder and operator of a number of technology companies. ScaleUP is currently raising its debut fund, ScaleUP Ventures Fund I, which received a $25 million commitment from the Ontario government in April 2015. With Thexton's hire, the firm announced the fund's target has been increased from $50 million to $75 million.
4 min read · 24 May 2016
Kent Thexton has been selected to head ScaleUP Ventures, a Toronto-based venture capital firm launched last year. He has assumed the role of general partner and will be responsible for overseeing the firm's early-stage investment activity in Ontario. Prior to joining ScaleUp, Thexton was a managing director at OMERS Ventures. He also spent close to 25 years as a founder and operator of a number of technology companies. ScaleUP is currently raising its debut fund, ScaleUP Ventures Fund I, which received a $25 million commitment from the Ontario government in April 2015. With Thexton's hire, the firm announced the fund's target has been increased from $50 million to $75 million.
4 min read · 24 May 2016
U.S. private equity firm MidOcean Partners has acquired the assets of Holiday Group Inc, a Montréal-based licensed luggage, bag and travel accessory maker and distributor in Canada. No financial terms were released for the deal, which includes Holiday's U.S.-based affiliate Travelpro International Inc. The two companies operate together under the Travelpro Group banner. With the deal, Blake Lipham, a management affiliate of MidOcean, has assumed the role of CEO of Travelpro Group. MidOcean said it sees opportunities to continue the company's growth trajectory, including through strategic acquisitions.
4 min read · 24 May 2016
Vancouver-based Yaletown Partners in April unveiled a new $135 million fund earmarked for emerging-growth technology companies in Canada. PE Hub Canada sat down with General Partners Brad Johns and Salil Munjal to talk about the fund and its goals. We also took the opportunity to discuss the latest financing of Bit Stew Systems, a data integration platform for the industrial Internet. Bit Stew has been backed by Yaletown since 2013.
4 min read · 20 May 2016
Health QR Inc has received $250,000 in financing from Innovacorp, a Canadian venture capital firm. Based in Halifax, Nova Scotia, Health QR is a provider of medication management solutions that aim to improve health outcomes and pharmacy workflow. Patricia Ryan, the startup's president and CEO, said the round's proceeds will help it follow through with its commercialization and go-to-market plan. Established in 2012, Health QR also has operations in Hamilton, Ontario.
3 min read · 20 May 2016
Health QR Inc has received $250,000 in financing from Innovacorp, a Canadian venture capital firm. Based in Halifax, Nova Scotia, Health QR is a provider of medication management solutions that aim to improve health outcomes and pharmacy workflow. Patricia Ryan, the startup's president and CEO, said the round's proceeds will help it follow through with its commercialization and go-to-market plan. Established in 2012, Health QR also has operations in Hamilton, Ontario.
3 min read · 20 May 2016
Lowe’s Cos Inc (NYSE: LOW) has closed its buy of Rona Inc, a Boucherville, Québec-based retailer of home improvement and construction products. The deal, announced in February, was valued at $3.2 billion. U.S.-based Lowe’s said the acquisition represents a key step in its growth strategy, creating one of the largest home improvement retailers in Canada, with 539 store locations. Rona’s largest shareholder, the Caisse de dépôt et placement du Québec, supported the deal.
8 min read · 20 May 2016
Vancouver-based Yaletown Partners, backers of Bit Stew, in April unveiled a new $135 million fund earmarked for emerging-growth technology companies in Canada. Two GPs talk about the fund and its goals.
4 min read · 20 May 2016
Sprott Resource Lending Corp has raised $200 million in the initial close of its new Private Resource Lending LP. Sprott Resource, a subsidiary of Canadian asset manager Sprott Inc (TSX: SII), provides financing to mining and oil and gas companies. The firm's recent deals include last year's US$120 million secured loan facility for TMAC Resources Inc, a Toronto-based mineral exploration and development company. TMAC, which was private equity-backed, went public in August 2015.
1 min read · 20 May 2016
