Private Equity
The Catalyst Capital Group Inc plans on voting against the recently announced agreement to take Canadian retailer Hudson's Bay private by a group of shareholders led by Executive Chairman Richard Baker. Catalyst is against the deal because the Canadian private equity firm feels it's a "severely undervalued share buyback" at the expense of shareholders. As previously reported, a group of Hudson's Bay shareholders offered C$10.30 per share in cash for the 43 percent of shares it does not own in the retailer. Catalyst currently holds an approximate 28.24 percent share of HBC's total common shares.
3 min read · 31 October 2019
Eurazeo is investing US$60 million in Vancouver, British Columbia-based Herschel Supply Co, a maker of backpacks and accessories. Eurazeo is making the investment alongside a consortium comprised of Alliance Consumer Growth and HOOPP Capital Partners, the private capital arm of the Healthcare of Ontario Pension Plan.
3 min read · 31 October 2019
Eversana has agreed to acquire Burlington, Ontario-based Cornerstone Research Group Inc, a provider of health economics and outcomes research services. No financial terms were disclosed. A portfolio company of Water Street Healthcare Partners and JLL Partners, Eversana is a provider of commercial services to the life science industry.
3 min read · 31 October 2019
BDC Capital has provided $1.2 million in financing to back Sylvain Tassé and Normand Doucet's acquisition of Quadra Plast, a PVC parts manufacturer in Sainte-Thérèse, Quebec. As a result of the transaction, Quadra Plast founder Hubert Racine will remain with the company for the next three years during the transition. Quadra Plast was founded in 1991.
3 min read · 31 October 2019
Destiny Solutions, which is backed by The Riverside Company, has merged with Camarillo, California-based OmniUpdate, a web content management system provider for higher education. No financial terms were disclosed. Toronto-based Destiny Solutions is a student lifecycle management solution provider for continuing education and other non-traditional higher education students.
3 min read · 31 October 2019
Crunchbase, a provider of private-company prospecting and research solutions, has secured US$30 million in Series C funding. OMERS Ventures led the round with participation from Emergence, Mayfield, Cowboy Ventures and Verizon. In addition to the funding, Michael Yang, managing partner at OMERS Ventures, will join Crunchbase's board of directors. This round brings Crunchbase's total funding to US$56.5 million. OMERS Ventures is the venture capital investment arm of OMERS, a Canadian pension fund.
1 min read · 31 October 2019
Galvanize named Pascal Van Dooren as chief revenue officer.
3 min read · 31 October 2019
Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Fondaction and Desjardins Capital will invest $300 million in La Coop fédérée. The capital will be used to back the capital acquisition and capital investment projects of La Coop fédérée. Based in Montreal, La Coop fédérée is an agri-food business.
5 min read · 30 October 2019
CI Financial Corp is making an investment in Toronto-based fintech firm d1g1t Inc. No financial terms were disclosed. The capital will be used for product innovation and commercial expansion. Last year, d1g1t secured Series A funding from Purpose Financial, which is backed by OMERS Platform Investments.
3 min read · 30 October 2019
Canada Pension Plan Investment Board has appointed Zubaid Ahmad as U.S. senior adviser. Ahmad is founder and managing partner at Caravanserai Partners. Prior to establishing Caravanserai Partners, Ahmad was vice chairman, institutional clients group and co-head of global asset managers group, at Citigroup. He is based in New York City.
3 min read · 30 October 2019
