Kirk Falconer

Raising $60 mln and acquiring Zeetl, Hootsuite prepares for more growth—and an IPO

When Ryan Holmes founded Hootsuite Media in 2008, he had two key objectives in mind. He wanted his startup to be a leading driver of social media innovation on a global scale. He also wanted to build it into a billion-dollar company that would stay true to its Canadian roots. Holmes and Hootsuite have made significant progress on both counts. This week, the company announced it has closed a US$60 million follow-on financing, which brings its total raise of venture capital since 2009 to a whopping US$250 million.

Birch Hill closes $50 mln acquisition of Centric Health assets

Canadian mid-market private equity firm Birch Hill Equity Partners has completed its buy of the Motion Specialties and MEDIchair retail and home medical operations of Centric Health Corp (TSX: CHH). The deal, first announced in June, was valued at $50 million. MEDIchair and Motion Specialties are providers of mobility, respiratory and home accessibility products in Canada. They operate through a network of 47 franchised and 30 corporate stores.

Strattam Capital to take majority stake in software provider Doxim

Doxim Inc, a Canadian provider of customer communications management software to the financial services industry, has agreed to a majority stake investment by Strattam Capital, a technology-focused U.S. private equity firm. The financial terms of the deal, which will be done in partnership with Doxim's management team, were not disclosed. Strattam will provide growth capital to fund the company's strategic initiatives, including expansion of its product and service offerings and extension of its geographic presence. Founded in 2002, Doxim has offices in Markham and Kitchener, Ontario, Montréal and Vancouver.

eSentire lands $14 mln in Series C funding to bring cybersecurity to new venues

Businesses and governments everywhere are being forced to grapple with escalating, stealthy and increasingly destructive cyber-attacks. One Canadian startup believes it has a solution. This week, Cambridge, Ontario-based eSentire, which has developed an active threat detection platform popular with hedge funds, secured a $14 million Series C financing from a consortium of Canadian and U.S. venture capital firms and strategic investors to promote further growth and customer diversification.

Wealthsimple launches with $1.9 mln from angels, Impression Ventures

Wealthsimple has officially launched with the support of startup funding. The company's CEO and founder Michael Katchen confirmed to peHUB Canada that the company has raised $1.9 million from Joe Canavan, Roger Martin, David Ossip, Dan Debow and Canadian venture capital firm Impression Ventures. Based in Toronto, Wealthsimple provides low-cost, technology-driven investment strategies and personalized service to investors in Canada. Impression Ventures, which is led by Bryan Kerdman and Christian Lassonde, is focused on investing in software companies in e-commerce, financial applications, SaaS, consumer applications and enterprise solutions.

Boyd Group acquires Louisiana collision repair business for $35 mln

Winnipeg's the Boyd Group (TSX: BYDUN), which has been the focus of speculation about a potential private equity buyout, has acquired Champ's Holding Co LLC, a full-service auto collision repair service provider in Louisiana. The purchase price was around US$35 million. Boyd said that the deal would expand its reach to new customers, increase its geographical footprint, and provide for new growth opportunities. In July, peHUB Canada reported that some of Boyd's top collision repair competitors have been acquired recently by private equity firms. They include Caliber Collision Centers Inc, which OMERS Private Equity bought from ONCAP last November.

BLiNQ Networks raises $15.1 mln in Series B financing round

BLiNQ Networks Inc has secured US$15.1 million in a Series B financing round. This latest round, which brings the company's total funding to date to US$32.5 million, was led by WIN Fund LP and joined by new investor Kensington Global Private Equity Fund and existing investors BDC Capital, New Venture Partners and Summerhill Venture Partners. Investment proceeds will be used to continue BLiNQ's product innovation, scale operations and accelerate global sales growth. With its headquarters in Ottawa and Plano, Texas, BLiNQ is a provider of wireless backhaul solutions that allow mobile operators to deliver mobile broadband services in high density areas. It was founded in June 2010.

TPG throws weight behind global green energy strategy of SMi-Enerpro

U.S. private equity powerhouse TPG Capital is backing the global expansion plans of a Montréal-based specialist in energy efficiency. SMi-Enerpro, a division of The SM Group International (SMi), provides customized solutions for lowering energy consumption in the real estate sector. The company's goal, in short, is smarter, greener buildings that get more out of energy dollars.

Beedie Capital commits $3.5 mln in funding to Nightingale Informatix

Canadian growth finance firm Beedie Capital Partners has agreed to extend $3.5 million in a secured term loan to Nightingale Informatix Corp (TSX-V: NGH), a provider of cloud-based electronic health record and practice management services to North American healthcare organizations. Funding proceeds will support the company in its efforts to launch a next generation platform, Nightingale EHR, and for other purposes. Based in Markham, Ontario, Nightingale also has been backed by Canadian specialty finance firm Wellington Financial and Export Development Canada. A Wellington-led deal in 2007 facilitated the company's acquisition of VantageMed Corp.

Going long: Why Altas Partners and OPTrust invested in St. George’s University

Grenada's St. George’s University (SGU) was a couple of weeks ago the focus of a US$750 million control-stake transaction involving an investor group led by Canadian private equity firm Altas Partners and a fund advised by Baring Private Equity Asia. Altas partnered with OPTrust Private Markets Group in the SGU deal, which is its second since the firm's launch in 2012 by former Onex Corp managing director Andrew Sheiner. It marks an important step for an investor that has sought to blaze a new path in PE dealmaking.