The Caisse de dépôt et placement du Québec has appointed Jean Michel as executive vice president, advisory services to depositors and strategic analysis. In this role, Michel will manage client relationships and develop an extensive advisory service offering. He will also be responsible for strategic analysis and oversight of the Caisse's investment strategies in collaboration with the CIO and chief risk officer. Prior to joining the Caisse, Michel was president of the $17.5-billion Air Canada Pension Investments. Based in Montréal, the Caisse held $248 billion in net assets at the end of December.
3 min read · 03 March 2016
Toronto-based investment firm Kensington Capital Partners has exceeded the target it set for Kensington Venture Fund (KVF) in the fund of funds’ final close. KVF, the second fund closed in partnership with Ottawa’s Venture Capital Action Plan, raised $306 million, with most recent commitments coming from a mix of family offices, individual investors, private foundations and wealth managers.
3 min read · 03 March 2016
Toronto-based venture FoF also invests in Vanedge II
4 min read · 03 March 2016
Ecotex Healthcare Linen Service Inc and Fengate Capital Management have agreed to buy Booth Centennial Healthcare Linen Services, a Mississauga, Ont.-based provider of healthcare linen, laundry and surgical sterilization services. No financial terms were released. The sellers in the deal are 22 hospitals and healthcare institutions that currently own the not-for-profit Booth. Ecotex and Fengate said they expect to assume ownership of the business in June. Toronto-based Fengate is an infrastructure and real estate investment firm. Last December, it acquired two British solar parks for $110 million.
3 min read · 02 March 2016
Montréal-based private equity firm XPND Capital has closed its second fund, XPNDCroissance Fund, at $75 million in committed capital. Fund II, which initially closed last year with the backing of the Caisse de dépôt et placement du Québec and Investissement Québec (IQ), secured further commitments from Fonds de solidarité FTQ and Fondaction CSN, and increased support from IQ. XPNDCroissance Fund plans to invest in Québec companies active in multiple sectors, including sustainable transportation, innovative industries, and technology, media and entertainment. It has already invested in Téo Taxi, an electric taxi service, and Lion Bus, a maker of electric school buses.
5 min read · 02 March 2016
RentMoola Payment Solutions Inc has secured $5 million in funding from a group of strategic, accredited and retail investors. The round was led by strategic investor Conservice LLC and principals of Wyse Meter Solutions Inc. Based in Vancouver, RentMoola is an online payment network that allows tenants and owners to pay rent and other payments. Founded in 2013, the company said it will use the investment's proceeds to execute on its growth strategy in key markets, including Canada, the United States and Europe. RentMoola also plans to pursue strategic and venture capital financing opportunities this year.
3 min read · 02 March 2016
Shaw Communications Inc (TSX: SJR.B) has closed its previously announced buy of the parent of Wind Mobile Corp, a Toronto-based wireless services company, for about $1.6 billion. Shaw said the acquisition will allow it to become "a leading pure-play connectivity provider." The deal also provides an exit to Wind's Canadian and U.S. private equity investors, which helped to finance Globalive Capital's purchase of Vimpelcom Ltd‘s stake in the company in 2014. They include LG Capital Investors, Serruya Private Equity, Tennenbaum Capital Partners and West Face Capital.
3 min read · 02 March 2016
The JET Group, a Canadian supplier of tools, equipment and safety products, has rebranded as SureWerx. The Vancouver-based company said the new name is designed to tie together its product brands, including Sellstrom Manufacturing Co, which was bought last November. SureWerx said the initiative opens the door to further global growth and allows the company "to look beyond its traditional geographical markets." SureWerx is a portfolio investment of Canadian private equity firm Penfund, which acquired it in 2012.
2 min read · 01 March 2016
Mama Earth Organics, a direct-to-home organic food delivery company in the Greater Toronto Area, has secured undisclosed funding from Canadian investors InvestEco Capital and Renewal Funds. As part of the deal, Mama Earth will be combined with Farms & Forks, a direct-to-home organic food retailer that also serves the Toronto region. As of June, Farms & Forks CEO Michael Bernstein will lead the combined business, which will operate under the Mama Earth banner. InvestEco, a Toronto-based investor in the sustainable food and agriculture sectors, will name a director to the new company's board, as will Renewal Funds, a Vancouver-based mission venture capital firm.
2 min read · 29 February 2016
Vertafore, a portfolio company of U.S. private equity firm TPG Capital, has agreed to buy Keal Technology, a Concord, Ontario-based software applications developer focused on the Canadian insurance brokerage industry. No financial terms were released for the deal, which is expected to close by the end of March. Vertafore, an insurance software and services provider, said the acquisition will expand its portfolio of companies into Canada. Keal, which has over 16,000 broker users, will as a result of the deal be supported in its growth under its existing brand. Based in Bothell, Washington, Vertafore was acquired by TPG from Hellman & Friedman and JMI Equity for US$1.4 billion in 2010.
3 min read · 29 February 2016
