South Africa's Dimension Data has acquired Ceryx Inc, a Canadian managed information technology services company focused on cloud-based messaging and collaboration solutions primarily for North American enterprises. The deal's financial terms were not disclosed. Dimension Data said the combination of its and Ceryx's end-user computing suite of services will accelerate the company's time to market and support the migration of customers to cloud services. Based in Toronto, Ceryx has been a portfolio company of Canadian growth investor Eventi Capital Partners since 2004.
2 min read · 04 April 2016
The Fonds de solidarité FTQ has provided a $50 million unsecured loan to Canam Group Inc (TSX: CAM), a St-Georges, Québec-based designer and fabricator of customized products for the North American construction industry. Founded in 1960, Canam each year participates in approximately 10,000 building, structural steel and bridge projects. Its partnership with the Fonds is intended to support the company's continued growth in domestic and foreign markets.
3 min read · 04 April 2016
Birch Communications Inc has closed its previously announced acquisition of select assets and customers of Primus Telecommunications Canada Inc, an Etobicoke, Ont.-based telecommunications and cloud service provider. The deal's financial terms were not disclosed. Primus Canada, a portfolio company of U.S. private equity firm York Capital Management since 2013, obtained creditor protection earlier this year.
4 min read · 04 April 2016
U.S. private equity firm OpenGate Capital has closed its acquisition of the Window and Door division of Canada's Royal Building Products from Axiall Corp (NYSE: AXLL). No financial terms were released for the deal, which was announced earlier this year. OpenGate said it has renamed the entity Energi Fenestration Solutions Ltd and will focus on transitioning it into a stand-alone maker of vinyl window profiles and patio doors. The company, which has offices in Woodbridge, Ontario and Terrebonne, Québec, will continue to be led by CEO Jesse Hawthorne.
3 min read · 04 April 2016
Vista Outdoor Inc has closed its acquisition of BRG Sports Inc's action sports division. The US$400 million deal, announced in February, gives Vista some of BRG's leading market brands. Scotts Valley, Calif.-based BRG, a designer, developer and marketer of sports equipment and accessories, is backed by Fenway Partners and Ontario Teachers’ Pension Plan (OTPP).
4 min read · 04 April 2016
Senstar Corp, an affiliate of Magal Security Systems Ltd (NASDAQ GM: MAGS), has acquired Aimetis Corp, a Waterloo, Ont.-based intelligent video management software company. The deal valued Aimetis at US$14 million ($18.3 million). Magal, an Israeli provider of solutions for physical and cyber security, safety and site management, said the acquisition adds to Sentar's portfolio of perimeter intrusion detection systems. Magal has been backed by Israeli private equity firm FIMI Opportunity Funds since 2014. Aimetis has received funding from Canadian venture capital firm Covington Capital Corp and other investors.
3 min read · 04 April 2016
Amphora Canada Gas Storage ULC, an affiliate of U.S. private equity firm ArcLight Capital Partners, has bought Chevron Alberta Gas Storage ULC from Chevron Canada Properties Ltd. The deal, the value of which was not disclosed, gives ArcLight a 43 percent interest in Alberta Hub Gas Storage. The remaining interest is held by Iberdrola Canada Energy Services Ltd, which operates the Peers, Alberta-based facility. ArcLight said the facility is positioned to benefit from "the increasing storage spreads driven by broadly rising demand for natural gas in North America and LNG (liquefied natural gas) export."
2 min read · 04 April 2016
Canadian real estate technology platform Real Matters Inc has secured an additional $100 million in a private placement deal and equity issue. The raise values the company at $653 million. The investors were not disclosed; however, Urbana Corp (TSX: URB, URB.A) has subsequently announced an increased investment in the company. Backers of prior Real Matters' rounds include Whitecap Venture Partners, Radar Capital and Wellington Financial. Markham, Ontario-based Real Matters also announced that an affiliate of the company has bought U.S.-based title search specialist Linear Title & Closing Ltd for up to US$96 million. With the acquisition, Real Matters reports it generates 95 percent of its revenue in the United States.
3 min read · 04 April 2016
Toronto-based Relay Ventures is one of North America’s most active investors in mobile technologies. Led by Co-founders and Managing Partners John Albright and Kevin Talbot, the firm is currently investing from its US$150 million second fund and is in the process of raising a third. PE Hub Canada sat down with Albright to discuss Relay’s deals, a recent run of lucrative portfolio exits, and emerging trends in the mobile space.
3 min read · 03 April 2016
TierPoint LLC has closed its buy of Cosentry Inc, a provider of cloud, colocation and managed services based in Omaha, Nebraska. No financial terms were released. As noted at the time of the acquisition's announcement in January, TA Associates, Cosentry's prior owner, has joined TierPoint's investor group. The latter includes Ontario Teachers’ Pension Plan, which invested in the U.S. data centre services provider in December 2014.
2 min read · 01 April 2016
