Lightspeed and Kik head up the list of top venture fundings for Canadian companies in 2015
3 min read · 07 January 2016
Canadian private equity firm Novacap has sold its portfolio company Fibrenoire, a fibre optic connectivity services provider, to Vidéotron for $125 million. In a separate release, Vidéotron, a subsidiary of Québecor, said it made the acquisition to meet growing demand from its business customers for fibre optic connectivity. Based in Montréal, Fibrenoire has been backed by Novacap since April 2013. Over the past three years, the company has more than doubled its revenue and profitability, Novacap reported, in part due to acquisitions supported by the investor. In December, Cegid Group acquired Novacap-backed Technomedia, a cloud-based talent management software provider.
3 min read · 07 January 2016
Luma has acquired Nodal Industries, an Internet of Things security startup based in Mountain View, California. No financial terms were released. Atlanta, Georgia-based Luma said it plans to integrate Nodal's technology into its intelligent WIFI system, which is designed to bring speed, safety and security to the home WiFi network. Luma was launched in late 2015 with venture capital investment provided by several firms, including Canada's Relay Ventures and Silcon Valley's Felicis Ventures. With the deal, 500 Startups, which previously backed Nodal, becomes a Luma investor.
4 min read · 07 January 2016
Fleet Complete, a Canadian provider of fleet telematics and mobile workforce technology, has acquired ITmobile, a Dutch fleet telematics business. No financial terms were disclosed. The deal was funded through an equity investment from the management teams of the two companies as well as U.S. private equity firm Madison Dearborn Partners, which bought majority control of Fleet Complete in September 2014. Fleet Complete, which is headquartered in Markham, Ontario, said the acquisition will serve as a base for its growth in Europe. ITmobile is the company's second add-on deal since Madison Dearborn's initial investment. Last year, it acquired FieldWorker Technology Solutions.
3 min read · 07 January 2016
SterlingBackcheck has agreed to combine with another background screening company, Bothell, Washington-based TalentWise. No financial terms were disclosed. Headquartered in New York, SterlingBackcheck is backed by the Caisse de dépôt et placement du Québec and Goldman Sachs’ Merchant Banking Division. The Caisse and Goldman Sachs jointly bought the company in June 2015. Late last year, SterlingBackcheck acquired EmployeeScreenIQ.
4 min read · 06 January 2016
An investor group formed to acquire Pineville, Louisiana-based utility Cleco Corp (NYSE: CNL) for US$4.7 billion has agreed to an enhanced commitment package for Cleco customers and local communities. British Columbia Investment Management Corp (bcIMC), Macquarie Infrastructure and Real Assets and the other investors have offered to increase customer rate credits to US$125 million over 15 years. This and other initiatives will result in total customer savings of about US$143 million over the same period. The acquisition deal, announced in October 2014, remains subject to the approval of state regulators.
8 min read · 06 January 2016
Lendful, a Vancouver-based lending technology startup, has secured $15 million in funding from Alterna Bank, a subsidiary of Canadian credit union Alterna Savings. Founded early last year by CEO Alex Benjamin, Director Mike Benna and Head of Credit John van Oosterhout, Lendful is an online lending marketplace that provides Canadians with up to $35,000 in loans at interest rates that can save borrowers as much as 30 per cent when refinancing. Since approving its first loan last September, Lendful has seen $20 million in loan applications, the company reported. It is also backed by Stanley Park Ventures and Ferst Capital Partners.
3 min read · 06 January 2016
Noront Resources Ltd (TSX-V: NOT) has amended an agreement with its largest investor, U.S. private equity firm Resource Capital Funds (RCF), that extends a US$15 million convertible debenture. Additionally, the company has agreed to sell RCF a royalty equal to one percent of the net smelter returns from the sale of all metals and minerals derived from its Eagle’s Nest deposit for US$2.5 million. The sale's proceeds will be used in part to satisfy the repayment of a bridge loan with RCF. Toronto-based Noront acquires, explores and develops mineral properties with a focus on the Ring of Fire in Northwestern Ontario.
4 min read · 05 January 2016
Cott Corp (NYSE: COT) (TSX: BCB) has closed its previously announced acquisition of Aquaterra Corp, a Canadian direct-to-consumer home and office water delivery business, for about $62 million (US$45 million). Cott said the deal will extend its Canadian beverage portfolio into new and growing markets, and give it more than 70,000 new customers. Founded in 1882 as Laurentian Water Co, Mississauga, Ontario-based Aquaterra has been a portfolio investment of Canadian private equity firm Birch Hill Equity Partners since 2006.
4 min read · 05 January 2016
Gateway Casinos & Entertainment Ltd, a diversified Canadian gaming company, has acquired Playtime Gaming Inc. No financial terms were released. Based in Surrey, British Columbia, Playtime owns and operates six gaming facilities in the province. Gateway said the deal increases its gaming property holdings to 18 in total, and extends its distribution into four new markets, including the Lower Mainland and Vancouver Island. Founded in 1992, Burnaby, British Columbia-based Gateway is a portfolio investment of Canadian private equity firm Catalyst Capital Group. In October, Catalyst raised $2 billion in the close of its fifth distressed-for-control fund, Catalyst Fund LP V.
3 min read · 23 December 2015
