Performance marketing software provider Acquisio Inc has secured undisclosed funding from Wellington Financial, a Canadian specialty finance firm. The investment was made by Wellington Financial Fund V, which raised $300 million last November. Headquartered in Brossard, Québec, Acquisio has developed technology that enables digital marketers to optimize the results of their search, social, mobile and display marketing programs. It said the partnership with Wellington will help the company scale and deliver more differentiated products. Founded in 2003, Acquisio is backed by Canadian venture capital firms Emerillon Capital, Fonds de solidarité FTQ and Tandem Expansion Fund.
3 min read · 29 April 2016
Canadian enterprise software company OpenText Corp (Nasdaq: OTEX, TSX: OTC) has agreed to acquire ANXeBusiness Corp of Southfield, Michigan, a provider of cloud-based information exchange services to the U.S. automotive and healthcare industries. The deal is valued at about US$100 million and is expected to close later this year. Waterloo-based OpenText said the acquired company will complement its business-to-business integration solutions and strengthen its presence in the automotive and healthcare spaces. ANXeBusiness was bought by U.S. private equity firm One Equity Partners (OEP) in October 2006.
3 min read · 29 April 2016
OMERS Private Equity (OPE) has agreed to sell Give and Go Prepared Foods Corp (Give & Go) to Thomas H. Lee Partners, a U.S. private equity firm. No financial terms were released; however, Reuters recently reported that Thomas H. Lee was close to acquiring Give & Go for a sum approaching US$800 million. Based in Toronto, Give & Go is a maker of branded and private-label baked goods. OPE bought the company from Kilmer Capital Partners in 2007. Michael Graham, OPE's senior managing director, North America, said the deal marks the firm's seventh exit in the last three years. He added that OPE has seen about three times its original investment in Give & Go.
4 min read · 29 April 2016
Canadian private equity firm Onex Corp has closed its sale of German plastics processing machinery maker KraussMaffei Group to a consortium led by China National Chemical Corp (ChemChina). Announced in January, the deal was valued at about US$1 billion (€925 million). Onex, which acquired KraussMaffei from Madison Capital in December 2012, said it received proceeds of US$747 million on a US$358 million investment. This result gave the firm a gross multiple of invested capital of 2.1 times and a 24 percent gross rate of return, Onex reported.
2 min read · 29 April 2016
OMERS Ventures has made an undisclosed investment in Digital Currency Group (DCG), a New York-based builder, incubator and funder of bitcoin and blockchain technology-related companies. According to a Wall Street Journal report, OMERS Ventures was part of a financing round that included multiple other investors, including HCM International Co, Prudential Financial Inc, and Western Union Co. DCG was founded last year by CEO Barry Silbert. OMERS Ventures, an investment arm of the Ontario Municipal Employees Retirement System, said it is backing DCG because it addresses "a large and rapidly growing market" that is "set to disrupt global financial services."
2 min read · 28 April 2016
Clearspring Capital Partners has secured $260 million for its third private equity fund, Clearspring Capital Partners III, earmarked for investments in mid-market companies in Canada. It is the largest fund in the Toronto-based firm’s 14-year history, bringing total assets under management to more than $500 million.
3 min read · 28 April 2016
Canadian renewable chemicals company BioAmber Inc (NYSE: BIOA) has secured a $10 million loan from BDC Capital. The loan, which does not contain any convertible features or warrants, will provide working capital for the company's bio-based succinic acid plant in Sarnia, Ontario. The plant, which opened last year, is a joint venture with Mitsui & Co. Founded in 2008, Montréal-based Bioamber was venture-backed before going public in 2013.
4 min read · 27 April 2016
Urban Select Capital Corp has agreed to acquire a 51 percent interest in Luxy Easy Travel Ltd, a Vancouver-based marketplace for members to discover vacation homes, theme tours and customized travel services. Urban Select will acquire the stake in exchange for $100,000 and company shares valued at $665,000. Based in Vancouver, Urban Select is a provider of growth capital to private and public companies in a range of industries.
3 min read · 27 April 2016
Shopify Inc (NYSE: SHOP) (TSX: SH) has unveiled Shopify Capital, a merchant cash advance product to help entrepreneurs secure growth financing. The product, which will be offered initially in the United States, tailors cash advances to a merchant's needs based on data processed through Shopify's platform. In a pilot program, merchants used Shopify Capital to buy equipment and inventory, launch new products, hire more employees, and add new channels and products, the company said. Ottawa-based Shopify, an e-commerce and retail software company, went public in May 2015.
3 min read · 27 April 2016
Capital croissance PME has invested $4.125 million in Masdel Inc, a Montréal-based developer of health and wellness products. The funding supported the company's acquisition by Ken Labelle. Founded in 1977, Masdel manufactures and distributes Magic Bag, a thermotherapeutic compress that helps with healing and health maintenance. It also imports personal care, beauty and baby health products. Capital croissance PME II is a private equity fund sponsored by Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec.
2 min read · 26 April 2016
