Private Equity
Tricor Pacific Founders Capital, a new private equity firm launched in late 2014, has made its debut investment in Presteve Foods Ltd, a Wheatley, Ontario-based harvester, processor and distributor of wild freshwater fish from the Great Lakes. The transaction's value was not disclosed. Tricor Pacific Founders will hold the investment and subsequent seafood-related investments through Purewater Foods Inc. Founded by Tricor Pacific Capital's Rod Senft and Trevor Johnstone, Richard Harris, and Pender West Capital Partners' Derek Senft, Tricor Pacific Founders is a family firm platform that is focused on making control investments in North American food and other consumer packaged goods businesses.
3 min read · 04 May 2015
Ormat Technologies Inc (NYSE: ORA) has completed its previously announced joint venture deal with Canadian private equity and infrastructure investor Northleaf Capital Partners. Northleaf paid US$162.3 million for a 36.75 percent equity interest in a subsidiary company that holds Ormat's Puna geothermal power plant in Hawaii, the Don A. Campbell geothermal power plant in Nevada, and other assets. Ormat, a Reno, Nevada-based alternative and renewable energy technology business, said the purchase price implies a total transaction value of about US$442 million.
3 min read · 04 May 2015
Canadian mid-market private equity firm Signal Hill Equity Partners has raised a total of $142 million for its third fund, Signal Hill Equity Partners III LP. Capital commitments, which came from a mix of Canadian and international limited partners, including family offices, high net-worth investors and institutional investors, exceeded by 42 percent the original $100 million target set for Fund III. With offices in Toronto and Calgary, Signal Hill is managed by 15 professionals, who have completed over 100 transactions. The firm's deal making is focused on five key verticals: business and consumer services, specialty manufacturing, building products, food and consumer products and resource services.
2 min read · 04 May 2015
Real Matters Inc has secured an additional US$60 million to finance organic and acquisition-based growth. The company, which operates a cloud-based technology platform that provides property intelligence to the real estate lending and insurance markets, said the new funds came from its existing investor syndicate. Real Matters' backers include Canadian venture capital firm Whitecap Venture Partners, which last week raised an initial $70 million for its third fund, Radar Capital, Wellington Financial, and other investors. The Markham, Ontario-based company also announced that it has acquired U.S. home equity service provider Southwest Financial Services Ltd for an undisclosed price.
3 min read · 04 May 2015
The Caisse de dépôt et placement du Québec plans to commit billions of dollars more to direct deals in the years ahead, signalling a continuing shift in strategy for one of the world’s largest private equity investors.
3 min read · 04 May 2015
U.S. private equity firm Arbor Investments has sold portfolio company Gold Standard Baking to Canadian private equity firm Tricor Pacific Capital. The deal's financial terms were not released. Headquartered in Chicago, Illinois, Gold Standard is a manufacturer of frozen laminated dough products sold through grocery retailers, food service distributors, restaurant chains, commissaries and convenience stores across North America. Arbor invested in the company in 2008. The acquisition of Gold Standard by Tricor marks the firm's second disclosed platform investment in 2015. In April, Tricor bought U.S. recycling and waste solutions services provider Certified Recycling.
3 min read · 01 May 2015
The private equity group of Brookfield Asset Management has intensified an already active deal pace with its plans to invest in a Canadian infrastructure company and a U.S. graphite electrode producer. This week the Toronto-based firm agreed to recapitalize Armtec Infrastructure and GrafTech International in a pair of transactions with a potential combined value of US$950 million.
3 min read · 30 April 2015
Flybits Inc has completed the second close of its Series A financing round, which was reported as having raised $3.75 million in August 2014. The second close, which brought the round's value to $4.75 million in total, was led by Vodafone Ventures, the venture capital investment arm of British mobile carrier Vodafone Group plc. Based in Toronto, Flybits is a software-as-a-service provider that allows consumer-focused enterprises to manage mobile experiences that deliver targeted content and services. Founded in 2012, the company is also backed by Robert Bosch Venture Capital, Trellis Capital Corp and MaRS Investment Accelerator Fund, among other investors.
4 min read · 30 April 2015
Voices.com, an online marketplace that connects businesses with professional voice actors, has secured $2 million in working capital. The investment was made by Growth and Transition Capital, a division of BDC Capital. Voices.com, which has its headquarters in London, Ontario, said the capital will be used to acquire additional space and tools, and to hire more staff to support its continued growth. Founded in 2004 by David Ciccarelli and Stephanie Ciccarelli, the company today serves 125,000 voice professionals and the 125,000 businesses that hire them. Last November, peHUB Canada reported on Growth and Transition Capital's investment strategy and recent deals.
2 min read · 30 April 2015
Northern Biologics Inc, a Canadian biotechnology company founded last year with an investment by U.S. venture capital firm Versant Ventures, has entered into a strategic collaboration with Celgene Corp. As part of the collaboration, Northern Biologics received US$30 million in funding to advance the discovery and development of antibody therapeutics that benefit patients with cancer and fibrosis. Under the deal's terms, the company will have the right to receive additional payments, while Celgene will have options to in-license drug candidates and the right to acquire Northern Biologics upon conclusion of the partnership. Northern Biologics is located in the MaRS Discovery District in Toronto.
3 min read · 29 April 2015
