Alaris Royalty Corp earned almost triple the money it invested in LifeMark Health, a Canadian physiotherapy- and rehabilitation-services provider acquired by Audax Private Equity in January. Alaris, a Calgary-based alternative-equity firm, said this month it had redeemed the last of a $74 million investment in LifeMark following the sale to Audax. With that redemption, the firm counted up total proceeds of about $217 million, Alaris President and CEO Steve King told PE Hub Canada.
3 min read · 23 March 2016
The Canadian Venture Capital and Private Equity Association (CVCA) said it welcomes the federal government's Budget 2016. The CVCA said the budget showed the government "is engaged on innovation and growth and is open to listening and engaging key stakeholders." It welcomed the budget's innovation focus and commitment to address a range of related issues. The CVCA also supported the reinstatement of the labour-sponsored venture capital corporation (LSVCC) tax credit effective January 1st; spending on infrastructure and technology clusters; and its decision not to change the tax treatment of stock options.
2 min read · 23 March 2016
Canadian specialty foods producer Premium Brands Holdings Corp (TSX: PBH) has agreed to acquire C&C Packing Inc and its affiliate Premier Meat Packers (2009) Inc. The $146 million purchase price includes a $102 cash payment. Montréal-based C&C is a supplier of fresh and frozen meat products to retailers and food service distributors in central and eastern Canada. Premium Brands said the deal, expected to close in August, will allow it to create a national protein distribution and trading platform. Vancouver-based Premium Brands is a portfolio investment of Canadian family-backed private equity firm Pender West Capital Partners.
7 min read · 22 March 2016
Ontario Teachers' Pension Plan has expressed its sadness and shock concerning the terrorist bombings this week in Brussels, Belgium. Ontario Teachers holds a 39 percent interest in Brussels Airport, where one of the incidents took place. The Toronto-based pension fund manager acquired the stake in July 2011.
1 min read · 22 March 2016
Barrie, Ont.-based web presence analytics provider gShift has bought InNetwork, a Halifax-based online platform that allows marketers to connect with influencers for social media outreach campaigns. The terms of the all-stock deal were not disclosed. The combination of the two companies creates a unique technology suite for planning, optimizing, amplifying and reporting on content marketing strategies and investments, gShift said. Founded in 2009, gShift is a portfolio company of Brightspark Ventures, MaRS Investment Accelerator Fund and other investors. InNetwork was backed by Innovacorp and East Valley Ventures.
4 min read · 22 March 2016
Winnipeg-based education technology startup Permission Click Inc has secured $1.75 million in seed-stage financing. The round was led by Canadian school and trade publications producer Friesens Corp and was joined by Canadian venture capital firm Real Ventures and other investors. Founded in 2013, Permission Click has developed a cloud-based platform that helps schools and parents coordinate permission slips, forms, and payments required for student participation in school activities. Permission Click was named "Most Promising Startup of the Year" by the National Angel Capital Organization in 2014.
3 min read · 22 March 2016
Influitive, which earlier this month topped up its Series B financing round to $38 million, has acquired Triggerfox, a Toronto-based mobile relationship management application. No financial terms were disclosed. The deal, which closely follows Influitive's buy of Ironark Software, gives the company product management and development expertise in building mobile products, CEO Mark Organ said. An advocate marketing software provider, Influitive is backed by Atlas Venture, BDC Capital, Georgian Partners, Hummer Winblad Venture Partners, Leaders Fund, Relay Ventures and other investors. Triggerfox raised angel funding in 2014 and 2015, according to Crunchbase.
3 min read · 22 March 2016
Cleaver-Brooks Inc, a portfolio company of U.S. private equity firm Harbour Group, has acquired Camus Hydronics Ltd, a Canadian designer and manufacturer of hydronic boilers and water heaters for residential, commercial and industrial applications. No financial terms were released. Based in Mississauga, Ontario, Camus sells its products in North America, China and Eastern Europe. Cleaver-Brooks, a maker of condensing hydronic boilers and heaters, said the acquisition will help it to provide a more complete solution to customers. Based in Thomasville, Georgia, Cleaver-Brooks was bought by Harbour Group in December 2012.
2 min read · 22 March 2016
Kensington Hedge Fund 1, a fund managed by Kensington Capital Partners, has made a commitment to Productivity Media Income Fund I, a senior secured lender to film and television productions in Canada, the United States, and the United Kingdom. Managed by Oakville, Ont.-based Productivity Media Inc, the fund was launched in August 2012 and has generated an average annual net return of 14 percent, Kensington said. Based in Toronto, Kensington is an alternative assets manager and advisor.
2 min read · 21 March 2016
Capital régional et coopératif Desjardins (CRCD), a private equity and venture capital fund managed by Desjardins Capital de risque, has been authorized by the Québec government to undertake up to $135 million in tax-supported retail fundraising in 2016-2017. An announcement was also made concerning changes in fund governance. Among other changes, CRCD's board will in future reflect majority representation by independent directors; selection of the chair will be made by the independent directors; and term limits will be introduced. Montréal-based CRCD manages about $1.6 billion in net assets.
4 min read · 21 March 2016
