Private Equity
In 2006, David Rogers left his job as the head of the private equity group at Ontario Municipal Employees Retirement System to pursue a long-cherished ambition. The result was Caledon Capital Management, a Canadian portfolio management and advisory firm that provides institutional investors with new ways of accessing private equity and infrastructure. Seven years on, Caledon has emerged as a major player on the global institutional LP landscape, overseeing client assets of more than $5 billion.
3 min read · 06 October 2014
Canadian specialty pharmaceutical company Knight Therapeutics Inc (TSX: GUD) has agreed to commit EUR 19.5 million ($27.5 million) to the third life sciences fund managed by Dutch venture capital firm Forbion Capital Partners. The commitment, which follows an earlier commitment to a life sciences fund managed by Sectoral Asset Management, expands Knight's product sourcing strategy for the Canadian market, the company said. Knight plans to commit up to $130 million to this strategy. Forbion this month announced a first close of Forbion Capital Fund III CV at EUR 92 million ($129.6 million).
4 min read · 03 October 2014
Zafin, a provider of relationship banking software to the financial services industry, has received US$15 million in funding from U.S. private growth equity investor Kayne Partners. Proceeds of the deal will enable Zafin to expand its international sales and marketing efforts, as well as accelerate its product roadmap. Based in Vancouver, the company was founded by CEO Al Karim Somjii in 2002. Zafin is also a portfolio investment of Canadian growth finance firm Beedie Capital Partners, which provided $5 million in convertible debt and standby facilities to the company last December. Kayne Partners is a subsidiary of Kayne Anderson Capital Advisors.
4 min read · 02 October 2014
Contract research organization JSS Medical Research Inc has secured an undisclosed equity investment from Capital Croissance PME (CCPME), a fund affiliate of the Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins. Proceeds will be used to support the company's consolidation in Latin America and Canada and help advance its expansion into the emerging markets. Based in Montréal, JSS Medical offers comprehensive clinical trial management services, from study design to publication of results, in Phase I-IV trials across a broad range of therapeutic areas. CCPME II was capitalized at $230 million in April 2013.
3 min read · 02 October 2014
Imperial Capital Group has invested in MRO Corp, a U.S. disclosure management and health information exchange. The Toronto-based mid-market private equity firm has of late found particular success in the North American healthcare industry. In fact, MRO is the firm’s sixth investment in this space in the last six years, and its fourth since early 2013.
2 min read · 01 October 2014
Oil and gas company Bellatrix Exploration Ltd (TSX, NYSE: BXE) has received a $250 million commitment from Canadian Non-Operated Resources Corp (CNOR). The commitment is part of a new multi-year joint venture arrangement with CNOR, which is managed by Grafton Asset Management. CNOR last month received a $675 million equity investment from a consortium led by U.S. private equity firm Riverstone Holdings. That deal was intended to facilitate collaborations with other energy businesses. Calgary-based Bellatrix, which will use funds to accelerate development of its Western Canadian land holdings, said with the latest commitment contributes to a total of $500 million secured in its long-term partnership with Grafton.
4 min read · 30 September 2014
Canada Pension Plan Investment Board (CPPIB) has invested US$325 million in 21st Century Oncology Holdings Inc, a U.S.-based operator of a global network of cancer treatment centres and affiliated physician practices. The deal, which will be done through a series of convertible preferred shares, entitles CPPIB to nominate two directors to the company's board of directors. 21st Century Oncology, a majority-owned portfolio company of U.S. private equity firm Vestar Capital Partners since 2008, said the new investment will result in substantial de-leveraging, stronger liquidity and significant capital for continued business expansion.
2 min read · 26 September 2014
Agrisoma Biosciences Inc has secured $8 million in a Series A financing. The round was led by Canadian clean technology venture capital firm Cycle Capital Management and was joined by BDC Capital, which has invested in the company since 2002. An agricultural technology company, the Gatineau, Québec-based Agrisoma has commercialized carinata, a non-food oilseed crop designed for the sustainable production of biofuels. It plans to use proceeds of the latest round to promote further commercialization and expand into new areas of production. As a result of the deal, Cycle founder and managing partner Andrée-Lise Méthothas joined Agrisoma's board of directors.
4 min read · 26 September 2014
Kilmer Van Nostrand Co. Ltd, a Canadian investment holding company affiliated with mid-market private equity firm Kilmer Capital Partners, has bought English Bay Batter Inc, a bakery company producing premium gourmet cookies and frozen and refrigerated dough. The value of the acquisition was not disclosed. Founded in 1983, the Vancouver-based English Bay is an established wholesale bakery business serving the in-store bakery, grocery, restaurant and food service channels across North America. The company said the partnership with Kilmer will help it execute its strategic plan to become a much larger North American bakery business.
3 min read · 25 September 2014
With $60 million in new capital and another acquisition, Hootsuite founder Ryan Holmes predicts company will double its revenue in next 12 months, cites "a lot of interest in an IPO."
4 min read · 25 September 2014
