Private Equity
360insights has acquired Ohana Companies, a Wilmington, Delaware-based promotional marketing business and rebate service provider. Terms weren't released for the deal, which follows 360insights' purchase earlier this year of MTC Performance, a Schaumburg, Illinois-based provider of sales incentive management solutions. 360insights, a Whitby, Ontario-based channel incentives management platform, said the acquisition of Ohana bolsters its consumer rebate offerings. Founded in 2008 by CEO Jason Atkins, 360insights closed a $30 million financing in 2016. The round was led by Sageview Capital and joined by OMERS Ventures, Klass Capital, Leaders Fund and Export Development Canada.
3 min read · 26 August 2019
Fengate Asset Management has hired Jaime McKenna as managing director and group head, real estate. McKenna joins from Canadian real estate company Minto Group, where she has worked since 2008. McKenna most recently held the roles of chief investment officer of Minto Apartment REIT, and senior vice president, investments, of Minto Capital. Based in Toronto, Fengate is alternative investment manager focused on infrastructure, private equity and real estate strategies.
2 min read · 26 August 2019
ComTech Energy has acquired a controlling interest in Kraus Global Ltd, a Winnipeg-based supplier of alternative fuel dispensing equipment and solutions. Terms weren't released for the deal, which was backed by undisclosed subordinated debt financing from Canadian private equity firm NorthSpring Capital Partners. NorthSpring invested in ComTech two years ago. Kraus is a portfolio investment of Canadian private equity firm PRIVEQ Capital Funds. In 2015, PRIVEQ led a management buyout of the company, deploying $6.2 million. ComTech, a Milton, Ontario-based designer, builder and maintainer of compressed natural gas fuelling infrastructure, said the acquisition positions it strategically in the global alternative fuels industry.
3 min read · 26 August 2019
Hasbro Inc (Nasdaq: HAS) has agreed to acquire Entertainment One Ltd (LSE: ETO) (eOne), a Toronto-based music, film and television (TV) producer. The deal is valued at about US$4 billion ($5.3 billion). It is expected to close in Q4 2019. EOne’s Canadian TV and film operations will continue as a distinct locally-controlled business within Hasbro. Hasbro, a Pawtucket, Rhode Island-based toy maker, said the acquisition will advance its strategy by adding eOne’s family brands, such as Peppa Pig. EOne is a portfolio company of Canada Pension Plan Investment Board (CPPIB). In 2015, CPPIB acquired a minority stake from Marwyn Investment Management for $290 million.
9 min read · 23 August 2019
Industrious, a New York-based provider of workplace solutions, has raised US$80 million in a Series D financing. The round, which brings total funding to US$222 million, was backed by several investors, including Brookfield Properties, an affiliate of Brookfield Asset Management, and Canada Pension Plan Investment Board (CPPIB). Founded in 2013, Industrious operates flexible workspaces and related sites through landlord partnerships. It currently has more than 80 locations in over 45 U.S. cities. The funds raised will be used for growing landlord services, doubling the company's network size, and expanding globally.
4 min read · 22 August 2019
Praemo, a Kitchener, Ontario-based industrial operations performance solution, has closed a Series A financing, raising $3.5 million. McRock Capital, a Canadian industrial internet-of-things venture capital firm, led the round. Launched in 2017, Praemo is the developer of Razor, an analytics engine that leverages artificial intelligence to predict and prevent disruption in industrial operations. The technology has so far been deployed in the automotive, industrial equipment manufacturing, injection molding, and food and beverage sectors. Led by CEO Michael Martinez, Praemo will use the round's proceeds to broaden its market reach, expand key partnerships, and further build out the Razor platform.
4 min read · 22 August 2019
Toronto-based cannabis lifestyle brand MoCanna said Canopy Growth Corp (TSX: WEED, NYSE: CGC) will lead its Series A financing with a $2 million investment. The $5 million round is expected to close next month. Cannaglobal, a Canadian cannabis venture capital firm and MoCanna's largest shareholder, will also invest. Founded by Chairman Lorne Gertner and led by CEO Shauna Levy, MoCanna is the company behind byMinistry, which aims to integrate cannabis consumption lounges, dispensaries and convenience stores. ByMinistry's Toronto location, which will open in early 2020, is intended to be the first of several created across North America over the next five years.
5 min read · 22 August 2019
Canadian private equity firm TerraNova Partners and Michael Platt have acquired majority control of Carma Industries Inc, a Lindsay, Ontario-based submetering business, and the affiliated Carma Billing Services Inc. Terms weren't released for the deal, which was done in partnership with the Williams family. Platt, a utilities and energy industries specialist who joined Carma last year, was appointed CEO. Founded in 1977, Carma manufactures utilities sub-metering equipment and provides utility billing solutions to multi-residential, condominium, commercial and institutional clients across Canada. Toronto-based TerraNova invests in growth, turnaround, carve-out and comparable deals in a range of sectors.
3 min read · 22 August 2019
CIBC Innovation Banking has provided $1 million of debt financing to Sampler, a Toronto-based direct-to-consumer product sampling platform. CEO Marie Chevrier, who founded Sampler in 2013, said the funding has helped the company to leverage revenue, supporting increased growth and entry into new markets. Sampler manages sampling programs for consumer-packaged goods companies. Its technology is used by more than 300 brands in over 24 countries. Earlier this year, Sampler closed a $3 million financing led by BDC Capital’s Women in Technology Fund and Shipfusion Inc. CIBC Innovation Banking is the technology lending arm of CIBC.
2 min read · 22 August 2019
Great Rock Capital has provided a senior secured term loan of $45 million to Oculus Transport Ltd, a Calgary-based oilfield hauling business. Great Rock partnered in the transaction with revolver lender, HSBC Bank Canada. The proceeds will support the company's growth. Founded in 2011 by CEO Ric Peterson, Oculus is focused on the logistics and transportation of pipe hauling, pipe storage, fluid hauling, fluid storage, and natural gas liquid and liquefied natural gas hauling. Great Rock is a U.S. asset-focused commercial finance firm specializing in mid-market lending.
3 min read · 22 August 2019
