Roadmunk nabs $1.5 mln

Roadmunk, a roadmap visualization software platform, has secured $1.5 million in a seed-stage financing. The round was led by Canadian venture capital firm Golden Venture Partners and joined by Felicis Ventures and Garage Capital. Founded in 2012 by CEO Latif Nanji and CTO Tomas Benda, Toronto-based Roadmunk has built a web application that allows enterprises to create and share visual strategy roadmaps. With additional offices in Waterloo and London, United Kingdom, the startup has grown to serve more that 25,000 product managers in organizations worldwide. Roadmunk has previously received funding from BDC Capital.


Madison Dearborn to acquire BlueCat Networks

Canadian enterprise DNS solutions provider BlueCat Networks has agreed to be acquired by U.S. private equity firm Madison Dearborn Partners. No financial terms were disclosed for the deal, which will see BlueCat’s existing management team remain in place and retain an equity ownership position. The deal will also provide an exit for the company’s existing backers, Trident Capital and Northleaf Capital Partners. Toronto-based BlueCat was founded in 2001 by Michael Hyatt and Richard Hyatt, and is led by CEO Michael Harris. It said the partnership with Madison Dearborn will help accelerate growth through product development and marketing. The acquisition is expected to close in Q2 2017.


Airbnb acquires VC-backed Luxury Retreats

Montréal-based luxury vacation rental company Luxury Retreats has been acquired by Airbnb, a U.S. online hospitality business. No financial terms were released, however, the Globe and Mail reported Airbnb paid between $200 million and $300 million in cash and stock. Luxury Retreats will continue to operate as a standalone entity in the short term, with Founder and CEO Joe Poulin joining Airbnb as a luxury specialist. Airbnb said it will invest in Luxury Retreats, which offers over 4,000 homes in 100 destinations worldwide. Luxury Retreats raised about $20 million from Canadian venture capital firm iNovia Capital and other investors, including 2015’s $11 million Series B round.

At Canada Goose, the people we work with are just as important as the products we make. As one of the world’s leading manufacturers of outdoor luxury apparel, we surround ourselves with people who strive to be the best at what they do—and enjoy doing it. Copyright: Canada Goose

Bain Capital-owned Canada Goose files for initial public offering

Canada Goose Inc, a Toronto designer and maker of outdoor luxury apparel, has filed for an initial public offering of its subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange, according to a report by Reuters. The company has priced the offering at US$100 million, Reuters said, citing an Securities Exchange Commission filing. Established in 1957, Canada Goose was acquired by U.S. private equity firm Bain Capital in December 2013. The IPO will include a secondary sale by Bain, according to the company’s preliminary prospectus, that will leave it with majority control.


Wellington Financial invests $6 mln in VC-backed Electric Cloud

Specialty finance firm Wellington Financial has invested $6 million in Electric Cloud, a San Jose, California-based DevOps release automation platform. Electric Cloud, whose technology solutions help organizations to deliver software faster by automating and accelerating build, deployment and release processes, also secured $5 million from Bridge Bank. The company said the funds raised will support operational expansion and further product development. Electric Cloud is backed by Rembrandt Venture Partners, US Venture Partners, RRE Ventures and Siemens Venture Capital.


Fengate closes acquisition of Sault Ste. Marie solar farms

Fengate Real Asset Investments has closed its acquisition of three operating, fully-contracted solar assets from Canadian Solar Inc for an undisclosed amount. The acquired assets are solar farms located in Sault Ste. Marie, Ontario with a combined capacity of 59.8 MWac. Fengate, a Toronto investment firm focused on infrastructure, real estate and private equity opportunities, said the deal represents its largest power investment to date. The firm has a renewable energy portfolio that includes solar, wind, hydro and biomass projects in North America and the United Kingdom.

Vitamin and mineral supplements store, (David Gray/Reuters)

CCMP-backed Jamieson Labs acquires Body Plus

Jamieson Laboratories Ltd has acquired Body Plus, a Toronto maker and marketer of natural health and sports nutrition supplements across Canada. No financial terms were disclosed. Jamieson, a Windsor, Ontario-based vitamins maker, said the deal strengthens its product portfolio and expands its reach into sports nutrition and specialty retail channels. Jamieson has since 2014 been a portfolio company of U.S. private equity firm CCMP Capital Advisors. Last May, Reuters reported CCMP was planning to sell the business for between US$600 million and US$700 million.

Some British sterling money in coins and bank notes is seen September 2, 2005.  REUTERS/Catherine Benson

bcIMC to acquire European credit business Hayfin from PE owners

Hayfin Capital Management LLP, a European private debt investment firm, has agreed to be acquired by British Columbia Investment Management Corp (bcIMC). No financial terms were disclosed, however, Sky News reported the deal’s value to be about £215 million (US$268 million). The Canadian pension fund bought a majority stake in Hayfin from the company’s founding shareholders: TowerBrook Capital Partners, PSP Investments, Ontario Municipal Employees Retirement System (OMERS) and Future Fund. London-based Hayfin, established in 2009, said bcIMC will commit “significant capital” to its managed funds and support its long-term growth.

JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating 115 manufacturing facilities in 19 countries located primarily in North America, Europe and Australia. © 2017 JELD-WEN, Inc.

Onex-backed door-and-window maker Jeld-Wen prices IPO

Jeld-Wen Holding Inc has priced its initial public offering (IPO) of 25 million common shares at US$23 per share. The IPO, filed last year, will generate about US$575 million in proceeds, according to Renaissance Capital, and result in the company listing its shares on the New York Stock Exchange under the symbol “JELD.” Canadian private equity firm Onex Corp, which bought into Jeld-Wen in October 2011, will share in the proceeds. Onex reports making an equity investment of US$985 million in Jeld-Wen, a Charlotte, North Carolina-based manufacturer of doors and windows.

Northleaf owns an interest in the Maple PPP Portfolio, comprised of three operating public-private partnership assets in Canada. Copyright: Northleaf Capital Partners

Northleaf closes second infrastructure fund at $950 mln hard cap

Northleaf Capital Partners has closed its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its $950 million hard-cap target. NICP II, which was launched in 2015, will focus on direct investments in small to mid-sized infrastructure assets in developed markets. The fund has already made its first two investments: a portfolio of U.K. bulk liquid storage assets and a portfolio of U.S. wind and solar assets. It also recently agreed to acquire a stake in Northwest Parkway, a Denver, Colorado highway system. The $2.5 billion infrastructure program of Northleaf, a Canadian private-markets investor, operates from offices in Toronto and London.

The team at Next Gear Solutions has re-imagined Restoration Job Management for Restoration Contractors with DASH Enterprise. 2017 Next Gear Solutions, Inc. All Rights Reserved.

Serent Capital-backed Next Gear closes buy of Luxor CRM

Next Gear Solutions, a portfolio company of U.S. private equity firm Serent Capital, has acquired Luxor CRM, a Toronto provider of a customer relationship management (CRM) solution for restoration contractors. No financial terms were disclosed. Oxford, Mississippi-based Next Gear, the maker of DASH, a restoration management software solution, said the deal brings a deluxe CRM into its product suite. Next Gear secured an investment from Serent in 2016. Founded in 2000, Luxor CRM was led by CEO Lukas Szczurowski. With the acquisition, he becomes vice president of sales at Next Gear.

Exact Imaging (formerly Imagistx) introduces the world’s first ultra high-resolution ultrasound system for urological applications. © 2017 Exact Imaging

Lumira, Vesalius co-lead Exact Imaging’s $21.5 mln Series C round

Toronto medical device startup Exact Imaging has secured $21.5 million in a Series C financing. The round was co-led by Canadian venture capital firm Lumira Capital and Luxembourg’s Vesalius Biocapital with participation from new investors, including PMV, and existing investors, including iGan Partners. With the financing, Lumira’s Peter van der Velden, PMV’s Dr. Alexandra Tolia and Vesalius’ Dr. Gaston Matthyssens will join the board. Founded in 2013 by Sam Ifergan and Randy AuCoin, Exact develops micro-ultrasound technology that enables real-time imaging and biopsy guidance for the prostate. It plans to use the funds raised to commercialize its new ExactVu system.

Appili Therapeutics Inc to Advance the Research and Development of Its Anti-infective Drug Candidates; Copyright: Atlantic Canada Opportunities Agency

Drug developer Appili Therapeutics nets $2.15 mln in follow-on VC

Halifax drug development startup Appili Therapeutics Inc has raised $2.15 million in a follow-on round. New and existing investors backed the deal, including Canadian venture capital firm Innovacorp and others that joined the company’s $3.27 million seed financing in May. Founded last year with the support of Bloom Burton & Co, Appili is a developer of novel therapeutics for infectious diseases. It will use the latest funds raised to advance the company’s lead product candidate, an antibiotic designed to treat anaerobic infections, into clinical trials. Appili also plans to add to its anti-infective pipeline.


Brentwood Associates invests $50 mln in SAXX Underwear

U.S. consumer private equity firm Brentwood Associates has invested nearly $50 million in SAXX Underwear, a Vancouver designer of men’s underwear brands. Founded in 2006 by Trent Kitsch, SAXX was acquired in 2010 by private investors, who remain the majority shareholders. The company reports showing revenue growth of more than 75 percent annually since 2012. Brentwood said it plans to build on this growth by helping broaden SAXX’s product portfolio, enhance its digital presence, and expand its international distribution. SAXX is led by CEO Tim Bartels and chaired by Terry Holland, head of Canadian private equity firm Krystal Financial Corp.


ParkerGale-backed ATP acquires CaseBank Technologies

Aircraft Technical Publishers (ATP) has acquired CaseBank Technologies Inc, a Toronto-based provider of diagnostic, troubleshooting and fault detection solutions for the aviation, aerospace and defense industries. The deal’s financial terms were not disclosed. ATP, which is headquartered in San Francisco, said the acquisition will enhance its information management and service offerings to customers in the aviation industry. ATP was acquired by U.S. private equity firm ParkerGale Capital in November 2015.

All Gold is an importer and distributor of specialty food ingredients serving the industrial food manufacturers and snack re-packers in North America. Copyright @ 2015. All Gold Imports Inc. All Rights Reserved.

Regimen Equity Partners invests in growth of All Gold Imports

Canadian private equity firm Regimen Equity Partners has invested in All Gold Imports Inc, a Markham, Ontario importer and distributor of more than 100 specialty food ingredients, including a variety of nuts, seeds and fruits. The terms of the platform deal, the fourth of Regimen’s inaugural fund, were not disclosed. Founded in 1990, All Gold supplies industrial food manufacturers and snack re-packers across North America and Australia. Louis Pillemer, the company’s CEO, said the partnership with Regimen will help it grow internationally. In July, Regimen invested in Montréal’s Plastifab Industries.

Breather creates peaceful, practical and beautifully designed meeting rooms and private workspaces. Copyright: Breather

Space provider Breather nets $53 mln in Menlo-led Series C round

Breather, a Canadian provider of on-demand meeting rooms and workspaces, has raised about $53 million (US$40 million) in a Series C financing, bringing its total funding so far to nearly $100 million (US$73 million). The round was led by U.S. venture capital firm Menlo Ventures and joined by existing backers Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures. Founded by CEO Julien Smith and CCO Caterina Rizzi in 2012, Breather operates a network of more than 300 spaces across 10 global markets, including New York, San Francisco and London. The Montréal company reports tripling its footprint this year and plans to continue its expansion into new markets in 2017.

Edge Systems' premier system is the HydraFacial MD® serum-based hydradermabrasion system, ranked one level above IPL for skin rejuvenation.  HydraFacial, HydraFacial MD, HydroPeel, UV Smart, Britenol, and Vortex Fusion are registered trademarks of Edge Systems LLC. Vortex Exlfoliation, Vortex Peel, Vortex Extraction, Vortex Boost, Daily Essentials, Edge For Life, Skin Health for Life, Ativ-4, Beta-HD, GlySal, Antiox+, amd Dermabuilder are trademarks of Edge Stystems LLC.

DWHP, Linden acquire aesthetic products maker Edge Systems

Healthcare private equity firms DW Healthcare Partners (DWHP) and Linden Capital Partners have jointly acquired Edge Systems LLC, a U.S. maker of non-invasive equipment and consumables used in aesthetic skin health treatments. No financial terms were released. Founded in 1997, Signal Hill, California’s Edge has an installed base of over 7,000 systems placed with dermatologists, plastic surgeons, and medical spas across 75 countries. With the deal, Clint Carnell and Steve Fanning will be named CEO and chairman of Edge, respectively. DWHP has offices in Toronto and Park City, Utah.