Private Equity
3 min read · 09 October 2019
Voyager Capital, a Seattle, Washington-based venture capital firm, has raised US$100 million for its fifth fund. The fund, which will make first-round investments in B2B startups in cloud infrastructure, software-as-a-service and other verticals, plans to focus in part on opportunities in Western Canada. The fund's investors include BC Tech Fund, managed by Kensington Capital Partners, according to a report by Business in Vancouver.
3 min read · 09 October 2019
Champlain Financial Corp has partnered with Claridge, a Canadian family office, in the acquisition of Captain Dan’s Seafood, a Dieppe, New Brunswick-based seafood processor that specializes in lobster and snow crab products. Terms weren't disclosed. The deal was done by the Champlain Seafood platform, formed in 2017 with the Canadian private equity firm's acquisitions of Cheticamp Fisheries and Riverside Lobster. Founded in 1994, Captain Dan’s serves corporate customers in North America, Europe and Asia.
3 min read · 09 October 2019
Ontario Power Generation has closed its previously announced buyout of Cube Hydro Partners, a Bethesda, Maryland-based operator of small and medium-sized hydropower facilities in the northeast and southeast U.S. The seller was I Squared Capital. No financial terms were disclosed; however, a previous news item on this transaction pegged the value of the deal at $1.48 billion. Goldman Sachs was financial adviser to OPG on the transaction while Centerview Partners did likewise for I Squared Capital.
3 min read · 08 October 2019
Avison Young, which is backed by Caisse de dépôt et placement du Québec, has acquired Phoenix-based Strategic Retail Group, a retail brokerage practice. No financial terms were disclosed. Avison is a Toronto-based commercial real estate services provider. SRG is rebranded as Avison Young with nine SRG staffers joining Avison Young in Phoenix.
5 min read · 08 October 2019
3 min read · 08 October 2019
Hub International Limited, a global insurance brokerage, has acquired Toronto-based PDF Financial Group Inc, an independent brokerage offering consulting and outsourcing services for employee benefit programs, human resources and related financial advice. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.
2 min read · 08 October 2019
MaRS Catalyst Fund, a Toronto-based early-stage impact fund created in collaboration with MaRS Discovery District, has rebranded as Amplify Capital and launched a new fund. The fund has a target size of $30 million and is seeking an initial close by early 2020. MaRS Catalyst Fund was launched in 2016 with the backing of Virgin Unite, as well as other investors, including Chawkers Foundation, Fondaction, J. W. McConnell Family Foundation and Lino et Mirella Saputo Foundation. It made nine investments in Ontario and Québec.
4 min read · 08 October 2019
Brookfield Business Partners LP has agreed to sell its 81 percent stake in Toronto-based North American Palladium Inc, a mining company, for about US$570 million. The buyer is Impala Platinum Holdings. The deal is expected to close in the fourth quarter of this year. Brookfield first invested in NAP in 2015.
2 min read · 07 October 2019
BMO has invested $5 million in a University of Toronto lab that combines artificial intelligence and the humanities. Called the BMO Lab for Creative Research in the Arts, Performance, Emerging Technologies and AI, the lab will be housed within the University of Toronto’s Centre for Drama, Theatre, and Performance Studies. BMO is a financial services provider.
1 min read · 07 October 2019
