Private Equity
Carrier Corp has made a minority investment in ecobee Inc, a Toronto-based provider of energy conservation solutions. The equity investment, the value of which was not disclosed, expands the strategic relationship formed between Carrier and ecobee, which has recently focused on the latter's digital programmable thermostat technology. The Farmington, Connecticut-based Carrier is a specialist in heating, ventilating and air-conditioning systems. Founded in 2007, ecobee is backed by a number of Canadian venture capital firms, including Relay Ventures, Tech Capital Partners and the Ontario Emerging Technologies Fund.
3 min read · 26 January 2015
Fairfax India Holdings Corp, a vehicle launched last November by Canada's Fairfax Financial Holdings to make private equity and other investments in Indian businesses, is expected to raise gross proceeds of approximately US$1 billion. Commitments will be generated by an initial public offering of subordinate voting shares, priced to raise gross proceeds of US$500 million, and by private placements. The offering is expected to close at the end of this month.
4 min read · 26 January 2015
Montréal-based enGene Inc has raised $13.5 million in Series B financing. The round was backed by an international venture capital syndicate led by Dutch firm Forbion Capital Partners and joined by Québec's Fonds de solidarité FTQ and Russian investor group Pharmstandard International S.A. Existing investor Merck Lumira Biosciences Fund, which is managed by Lumira Capital, also participated in the deal, which brings enGene's total financing to date to over $30 million. The company, which develops novel DNA-based therapeutics, said that it will use the new funds to advance its platform technology for delivering genes to cells lining the gastrointestinal tract.
6 min read · 26 January 2015
Two Canadian private equity firms expect to see windfall earnings from Killick Aerospace's forthcoming sale of four aviation support businesses to VSE Corp. The deal promises an especially strong return to Killick Aerospace’s majority investor, Killick Capital, a private equity firm based in St. John’s, Newfoundland and Labrador that was founded by former CHC Helicopter chairman Mark Dobbin.
3 min read · 26 January 2015
Brookfield Asset Management has agreed to purchase the other 50 percent of its Canadian and Australian facilities management companies from partner Johnson Controls Inc. The acquisition price is about US$200 million. The deal will facilitate a merger with Brookfield subsidiaries as part of a broader plan to create a global facilities management business. Brookfield said that it will immediately launch a related platform in the United States and Europe. Update: The Toronto-based firm added that it also has plans to launch an infrastructure-focused facilities management operation.
3 min read · 23 January 2015
SceneDoc Inc, a law enforcement and public safety software provider, has secured $4 million in Series A financing. The round was led by Canadian venture capital firm iGan Partners and was joined by U.S. firm Motorola Solutions Venture Capital and a group of angel investors. The Toronto-based SceneDoc said it will use the new funds to expand sales and marketing efforts, bring its investigation and field documentation platform to new global markets, and accelerate product development. The company, which was co-founded in 2011 by CEO Alex Kottoor and CTO Adrian Bubalo, received $1.35 million in seed funding last year from MaRS Investment Accelerator Fund.
3 min read · 22 January 2015
Imaginea Energy has completed its first disclosed add-on acquisition, picking up West Valley Energy from two U.S. private equity firms. According to data provided by Thomson Reuters, Calgary's Imaginea, which last year received a sizeable equity commitment from Lime Rock Partners, bought West Valley in December 2014.
2 min read · 19 January 2015
Private equity firm Pacific Road Capital Management has made an additional US$3.25 million investment in Reno Creek Holdings Inc, a uranium mining company based in Vancouver. A portion of the funds were advanced as a demand loan on behalf of Bayswater Uranium Corp. As a result of the deal, Pacific Road now owns approximately 89.6 percent of the company. Based in Sydney, Australia, Pacific Road also operates from an office in Vancouver.
5 min read · 16 January 2015
OMERS Private Equity has completed its previously announced sale of the Canadian operations of Logibec Inc to U.S. private equity firm GI Partners. The financial terms of the deal were not published. OMERS, which acquired the Montréal-based healthcare information technology company in 2010, will continue to own its former U.S. subsidiary MatrixCare, an electronic health record provider that was recently spun out as an independent business. OMERS said the Logibec sale is its fifth successful realization in the past two years.
3 min read · 16 January 2015
The Canadian firm has secured C$134 million (US$112 million) in an initial close to invest in biotherapeutics and other life sciences
3 min read · 15 January 2015
