Private Equity
Canadian solar energy technology company Morgan Solar Inc has entered into an undisclosed strategic investment and partnership agreement with Kuwait-based EnerTech Holding Company KSCC. Under the agreement, EnerTech will invest in the company and transfer technology and know-how to Kuwait and the region by establishing local manufacturing and assembling facilities for Morgan Solar's platform. Founded in 2007, the Toronto-based Morgan Solar is backed by a number of energy businesses, including Enbridge Inc, and private equity and venture capital firms, including U.S.-based Turnstone Capital Management. EnerTech was formed recently by the Kuwait Investment Authority to invest in and develop clean technologies.
4 min read · 01 May 2014
Canadian private equity firm Ironbridge Equity Partners has completed the final close of its second fund, Ironbridge Equity Partners II LP, raising $154 million in total. The partnership was oversubscribed after less than 10 months of marketing, with the result that Ironbridge Fund II raised 23% more than its original target of $125 million. The firm's managing partner Alan Sellery said that more than 60% of the fund's institutional backers were international. Elm Capital acted as the placement agent. Based in Toronto, Ironbridge invests in lower middle-market businesses operating in a range of industries including manufacturing, distribution and consumer and business products and services.
2 min read · 28 April 2014
This week, Clairvest is expected to announce the first close of CEP V, raising at least 75% of the partnership’s $600 million hard-cap target.
3 min read · 28 April 2014
A fresh breeze has been blowing in North America’s PE fund-raising market of late, bringing relief to many investors with new offerings. But it takes more than that to explain the success that Canadian private equity firm Clairvest Group has recently had marketing its fifth fund, Clairvest Equity Partners V LP (CEP V). This week, Clairvest expects to announce the first close of CEP V, raising at least 75% of the partnership’s $600 million hard-cap target. What’s more, it will have managed this feat in less than three months on the fundraising trail.
4 min read · 28 April 2014
Canadian mid-market private equity firm Kilmer Capital Partners has sold for an undisclosed amount its majority position in Coalision Inc to a group of private equity and other investors led by Bernard Mariette, the company's president and CEO. Other members of the consortium included Pelican Investment Funds LP, Simon Equity Partners, André Desmarais, members of the Hermès family and the Fonds de solidarité des travailleurs du Québec FTQ. The deal will enable the global growth of the Longueuil, Québec-based Coalision and its activewear apparel brand Lolë, the company said. Kilmer invested in Coalision in December 2008 and will retain a minority stake in the company going forward.
4 min read · 24 April 2014
Canadian private equity firm NCP Investment Management has led an investor group to buy specialized manufacturer Métal 7 Inc. The acquisition price was not disclosed. Joining NCP in the deal was the Business Development Bank of Canada, Fondaction CSN, Fonds de solidarité des travailleurs du Québec FTQ and other minority investors. Proceeds of the transaction will support Metal 7's further expansion as a designer and producer of high-performance equipment for primary industries. Founded in 1974, the company is based in Sept-Îles, Québec. With offices in Montréal, Québec City and Victoria, British Columbia, NCP makes private equity investments in partnership with companies to improve operations and scale platforms.
4 min read · 11 April 2014
Wattpad, also known as WP Technology Inc, has secured $46 million in a Series C financing round led by OMERS Ventures, the venture investment arm of the Ontario Municipal Employees Retirement System. The round was also joined by August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, as well as existing investors Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures. Based in Toronto, Wattpad is a social platform that creates direct connections between readers and writers. The company said it will use its latest funding to expand its Toronto team and to support product development and platform growth.
3 min read · 08 April 2014
Wattpad, also known as WP Technology Inc, has secured $46 million in a Series C financing round led by OMERS Ventures, the venture investment arm of the Ontario Municipal Employees Retirement System. The round was also joined by August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, as well as existing investors Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures. Based in Toronto, Wattpad is a social platform that creates direct connections between readers and writers. The company said it will use its latest funding to expand its Toronto team and to support product development and platform growth.
3 min read · 08 April 2014
Canadian growth investor Beedie Capital Partners has provided undisclosed debt financing to Syscon Justice Systems Ltd. The transaction is intended to support the company's expansion and to refinance a portion of its existing debt. Based in Richmond, British Columbia, Syscon provides information technology management software and services to law enforcement and criminal justice agencies. It is a portfolio investment of U.S. private equity firm Sverica International, which bought the company from Securus Technologies Inc in 2010. The Syscon deal is Beedie's third done so far in 2014. Last month, the firm invested in Elastic Path Software Inc, and in January, it invested in ResponseTek Networks Corp.
3 min read · 08 April 2014
Canadian private equity firm Waterton Global Resource Management has raised just over $1 billion for its second fund focused on the metals and mining industry, handily beating its $750 million target.
3 min read · 07 April 2014
