Canada

Aifred Health raises $490k to support treatment of depression

Montréal-based digital health company Aifred Health has secured more than $490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing's proceeds will be used to validate Aifred's business model and launch its first application in partnership with local hospitals.

OPTrust taps SSGA's Peter Lindley as president and CEO

Canadian pension fund manager OPTrust has appointed Peter Lindley as president and CEO, effective September 16. Lindley joins from U.S. asset manager State Street Global Advisors Ltd (SSGA), where he most recently served as president and head of investments in Canada. He worked at SSGA for 14 years. Lindley replaces Hugh O’Reilly, who resigned as president and CEO of OPTrust in March. With assets of about $20 billion, Toronto-based OPTrust invests and manages OPSEU Pension Plan. It invests in private equity and infrastructure through OPTrust Private Markets Group.

GI Partners' Doxim buys utilities communications specialist Utilitec

Doxim has acquired Utilitec, a Troy, Michigan-based provider of data processing, e-presentment, bill payment and delivery, and other customer communications solutions for the metered services industry. No financial terms were released for the deal, which follows Doxim's acquisitions earlier this year of Market Connections Inc and MessagingDirect Ltd. Doxim, a Toronto-based provider of customer communications and engagement technology to financial and regulated markets, said the deal expands its focus on the utilities sector. Last year, U.S. private equity firm GI Partners acquired a majority stake in Doxim from Strattam Capital.

Smart factory platform Worximity lands $6.25 mln in Series A

Worximity Technology, a Montréal-based smart factory analytics provider, has secured $6.25 million in a Series A financing. The round included a $5 million strategic investment by Marel, an Irish multi-national food processing company. The balance came from Worximity's existing Canadian investors Fonds de solidarité FTQ and W Investments. Founded in 2011 by CEO Yannick Desmarais, Worximity uses artificial intelligence and machine learning to enable automatic data collection, real-time monitoring, analysis and predictive insights in factory settings. The company will use the funds raised to accelerate the development of its technology and expand globally.

TriWest Capital-backed Lithion Power acquires Aved Electronics

Lithion Power Group, a portfolio company of TriWest Capital Partners, has acquired Aved Electronics, a North Billerica, Massachusetts-based battery pack manufacturing, cable and harness assembly and electro-mechanical box-build business. Terms weren't disclosed. Established in 1979, Aved primarily serves the medical, defence, robotics and communications industries in the United States. Lithion, a Calgary-based manufacturer of lithium cells and packs for use in the oil and gas drilling sector, said the acquisition expands its product offering and industry reach. Formerly known as HPC Energy Services, Lithion secured an investment in 2018 from TriWest, a Canadian mid-market private equity firm.

ePACT becomes first Canadian woman-led deal of Elaine Kunda’s Disruption Ventures

HBC to sell Lord + Taylor to venture-backed Le Tote for $100 mln

Canadian retailer Hudson's Bay Co (TSX: HBC) has agreed to sell its Lord + Taylor department store operations to Le Tote Inc, a San Francisco-based fashion rental subscription service. HBC will receive about $100 million and a promissory note for $33.2 million. It will also secure a minority stake in Le Tote and two board seats. Le Tote will gain Lord + Taylor's brand and intellectual property, operation of 38 stores, as well as digital channels and inventory. HBC, which is currently reviewing a $1.74 billion take-private acquisition, said the agreement followed a review of strategic alternatives for Lord + Taylor. Le Tote is backed by Andreessen Horowitz, Azure Capital Partners, GV, Lerer Hippeau Ventures, Sway Ventures, Y Combinator and other investors.

ESSA Pharma wraps up $48 mln offering and private placement

Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has closed a public offering and private placement, generating proceeds of about $48 million (US$36 million). The offering was led by Soleus Capital and included new investor RA Capital Management, a U.S. healthcare and life sciences investment firm. Existing backers of ESSA, including BVF Partners, Omega Funds and Eventide Funds, also participated. The company is also backed by Clarus Ventures, a U.S. life sciences venture capital firm acquired last year by Blackstone Group. Founded in 2009, ESSA is focused on developing therapies for treating castration-resistant prostate cancer. It will use the deal's proceeds for continued research and development.

Altas Partners to acquire DuBois Chemicals from Jordan Co

Canadian long-term private equity firm Altas Partners has agreed to acquire DuBois Chemicals Inc, a Sharonville, Ohio-based provider of customized specialty chemical solutions. Terms weren't released for the deal, which is expected to close later this year. The seller is U.S. private equity firm Jordan Co, which bought DuBois in 2017 from Aurora Capital Partners. Established in 1920, DuBois serves more than 15,000 global customers, primarily in the mid-market manufacturing industry as well as the consumer car wash and fleet transportation markets. The company said the partnership with Altas will support its continued growth, organically and through selective acquisitions.

CapStreet Group-owned Marco acquires Bell & MacKenzie

Marco Group International has acquired Bell & MacKenzie Co Ltd, a Hamilton, Ontario-based packager and distributor of abrasives and distributor of blast equipment and parts and accessories. No financial terms were disclosed. Founded in 1972 by Richard Bell and John MacKenzie, Bell & MacKenzie operates a conveyor and packaging operation and offers a broad array of products to several end markets. Marco, a Davenport, Iowa-based maker and distributor of surface preparation equipment, parts and supplies, said the deal supports its growth in Canada. U.S. private equity firm CapStreet Group completed a majority recapitalization of Marco in 2017.