Private Equity
ATB Financial has agreed to provide $5.7 million in financing to Canadian cannabis company Westleaf Inc. The capital infusion will be used for growth. Westleaf is focused on cannabis brands, extraction and production of derivatives and cannabis cultivation.
2 min read · 02 October 2019
Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, has invested US$10 million in TerrAscend Canada Inc, a subsidiary of its portfolio company TerrAscend Corp. TerrAscend is a Toronto-based cannabis business. Canopy Rivers, along with Canopy Growth Corporation, first invested in TerrAscend in November 2017.
1 min read · 02 October 2019
Audax Private Equity has acquired EIS Inc from Genuine Parts Company. No financial terms were disclosed. EIS is a provider of process materials, production supplies, specialty wire and cable and fabricated parts. And, GPC is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany, Poland, the Netherlands and Belgium.
1 min read · 02 October 2019
Warburg Pincus has acquired Newton Square, Pennsylvania-based Petplan, a pet health insurance provider. No financial terms were disclosed. As part of the acquisition, John Giannuzzi will join as chairman of Petplan's board. Petplan serves over 200,000 customers in the U.S. and Canada.
4 min read · 02 October 2019
Hub International Limited, a global insurance brokerage, has acquired Saskatoon, Saskatchewan-based Regency Advisory Corporation, an employee benefits consulting firm. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.
2 min read · 02 October 2019
MESH/diversity, a Moncton-based inclusion-focused software company, has secured over $950,000 in seed funding. The investors included New Brunswick Innovation Foundation, which provided $250,000 to that round. Founded in 2013, MESH/diversity is led by CEO Mike Wright.
2 min read · 01 October 2019
Canada Pension Plan Investment Board and Boston Properties Inc have formed a joint venture to develop Platform 16, an urban office campus in San Jose, California. According to terms of this deal, CPPIB will have a 45 percent ownership stake in Platform 16 while Boston Properties will have a 55 ownership stake. This is the second joint venture between Boston Properties and CPPIB following the Santa Monica Business Park campus in Santa Monica, California in 2018. Boston Properties is a developer, owner and manager of U.S. office properties.
4 min read · 01 October 2019
Montreal-based Chronometriq, a provider of access-to-care and patient engagement tools, has secured more than C$20 million in Series B funding. Full In Partners led the round. The capital will be used to “help further Chronometriq’s leadership position in Canada and give them significant opening traction in the U.S.”
1 min read · 01 October 2019
ADT Inc has agreed to sell ADT Security Services Canada Inc to Telus Corp for about $700 million (US$527 million). The deal includes ADT Canada’s operations and assets. ADT said it also approved a one-time special dividend of up to US$550 million and plans to set the dividend at 70 cents per share. ADT is a provider of security and automation solutions backed by Apollo Global Management.
3 min read · 01 October 2019
Teekay Offshore Partners LP (NYSE: TOO), a Hamilton, Bermuda-based midstream services provider to the offshore oil industry, has accepted an offer from the private equity group of Brookfield Asset Management to acquire publicly held common units not already owned by the investor. Brookfield will pay US$1.55 in cash per unit, up from a US$1.05 offer made earlier this year. In 2017, Brookfield acquired 60 percent of Teekay Offshore from Teekay Corp (NYSE: TK), a Vancouver-based marine energy transportation, storage and production business, for US$750 million.
4 min read · 01 October 2019
