Moelis spinout NexPhase Capital targets $400 mln for sophomore fund

NexPhase Capital, launched three years ago by former principals of Moelis Capital Partners, has set a $400 million target for its second, lower-mid-market fund, according to an SEC filing. The new vehicle is called NexPhase Capital Fund IV because the same team led prior funds under the Moelis brand. The New York-based private equity firm’s […]

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Council Capital seeks $200 mln for fourth healthcare PE fund

Council Capital has launched fundraising for its fourth lower mid-market healthcare fund, setting a target of $200 million, according to an SEC filing. If successful, Council Capital IV would be the largest fund to date for the Nashville-based private equity firm, exceeding by 33 percent the $150 million-plus secured by its predecessor in 2016. Council […]

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OMERS Growth Equity adds to bench, recruits PE pro Teresa Lee

OMERS Growth Equity, the recently launched growth equity arm of C$97 billion ($73 billion) Canadian pension fund OMERS, this month brought on Teresa Lee as a director, Buyouts has learned. Lee moved to OMERS Growth Equity from OMERS Private Equity, where she worked for 12 years, most recently as a director. Her focus has been […]

Kelso-owned J.S. Held acquires consulting business SPECS

J.S. Held has acquired SPECS, a Langley, British Columbia-based property risk and loss quantification consulting business, for an undisclosed amount. Established in 1995 by President David Wallace, SPECS provides property damage assessments, restoration consulting, construction project administration, risk management, facility services, and catastrophic response from 18 offices in Canada. J.S. Held, a Jericho, New York-based specialty consulting agency, said the acquisition complements its portfolio of professional services in building consulting and strengthens its ability to support Canadian clients. J.S. Held was acquired in July by U.S. mid-market private equity firm Kelso & Co from Lovell Minnick Partners.

Persistence Capital Partners invests in MCA Dental Group

Ottawa-based dental service organization MCA Dental Group Ltd earlier this month secured an investment from Persistence Capital Partners (PCP), a Canadian healthcare private equity firm. Terms weren’t released for the deal, which follows an initial investment made by PCP in early 2018. Established in 2017 by CEO Ken Craig and Chief Dental Officer Mark McCullough, MCA acquires, invests in and provides non-clinical management services to dental practices across Canada. MCA said the partnership with PCP will help the company build out its team and accelerate investments in more dental practices. Earlier in 2019, PCP invested in Anova Fertility & Reproductive Health, a Toronto-based fertility and reproductive care business.

Tricon, ASRS to partner in U.S. Sun Belt real estate investments

Tricon Capital Group has agreed to partner with Arizona State Retirement System (ASRS) in investments in master-planned communities and the development of single-family build-to-rent communities in the U.S. Sun Belt. The US$450-million joint venture will be capitalized by a US$400 million commitment from ASRS and a US$50 million commitment from Tricon. Tricon, which will source and manage investment opportunities, said it intends to offer two master-planned communities to seed the partnership. Tricon, a Canadian real estate private equity firm, in June closed a US$1.4 billion acquisition of a portfolio of U.S. multi-family properties.

Fintech startup Patchell Brook raises $360k in funding, NBIF invests

Patchell Brook Equity Analytics, a Miramichi, New Brunswick-based provider of valuation analysis technology, has secured $360,000 in financing. New Brunswick Innovation Foundation (NBIF) invested $150,000 in the round. The balance was accounted for by Miramichi Technology Fund, Technology Venture Corp and several angel investors. Founded in 2013 by CEO Brian Donovan, Patchell Brook has developed software, called StockCalc, and other tools that help customers determine the equity valuation of publicly-traded businesses and investment funds. The company will use the round’s proceeds for additional product development and growth initiatives.

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CPPIB recruits Facebook’s Monica Adractas to lead VC funds strategy

Canada Pension Plan Investment Board has recruited Monica Adractas to head the pension fund’s newly minted venture capital funds program. Adractas joins CPPIB from Workplace, the business collaboration app of social networking giant Facebook. She helped launch Workplace in 2016 and for nearly three years served as a global director. Over a two-decade career, Adractas […]

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Edtech platform Classcraft secures C$10 mln in Series A financing

Sherbrooke, Québec-based education technology provider Classcraft has raised C$10 million in a Series A financing. The round was led by Investissement Québec, an investment arm of the Québec government. It was joined by Whitecap Venture Partners, Brightspark Ventures and MaRS Catalyst Fund, all of which backed Classcraft’s C$2.8 million financing in 2017. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, Classcraft uses technology, games and storytelling to enhance student motivation in the K-12 education sector.

Trulioo nabs $70 mln in VC, including Goldman Sachs-led Series C

Trulioo, a Vancouver-based identity verification platform, has secured $70 million in new funding, including $60 million in Series C financing. Goldman Sachs Growth Equity led the Series C, with participation from American Express Ventures, Citi Ventures and Santander InnoVentures. The other $10 million came from early investors Blumberg Capital and BDC Capital. Trulioo provides an application programming interface that gives electronic identity and verification coverage for five billion consumers and more than 250 million businesses in a range of global industries. Led by Founder and CEO Stephen Ufford, the company will use the funds raised for scaling up operations in new markets, new hires and other growth initiatives.

Edtech platform Classcraft secures $10 mln in Series A financing

Sherbrooke, Québec-based education technology provider Classcraft has raised $10 million in a Series A financing. The round was led by Investissement Québec, an investment arm of the Québec government. It was joined by Whitecap Venture Partners, Brightspark Ventures and MaRS Catalyst Fund, all of which backed Classcraft’s $2.8 million financing in 2017. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, Classcraft uses technology, games and storytelling to enhance student motivation in the K-12 education sector. It serves more than 6 million students and teachers worldwide. The company will use the funds raised to further scale its platform.

CPPIB-backed Endeavor seeks $619 mln from IPO: Reuters

Endeavor Group Holdings Inc, a Beverly Hills, California-based talent agency and events company, is looking to raise up to US$619 million from an initial public offering (IPO), according to a report by Reuters. The IPO, which will be launched on the New York Stock Exchange, could value Endeavour at as much as US$7.8 billion, the report said. Endeavour, formerly known as William Morris Endeavor Entertainment LLC (WME/IMG), is backed by Canada Pension Plan Investment Board (CPPIB), Silver Lake Partners and other investors. Two years ago, CPPIB agreed to invest US$400 million in the business.

Gotham Green Partners joins Lift’s $3.5 mln private offering

Lift & Co Corp (TSX-V: LIFT), a Toronto-based cannabis media and technology platform, has closed a $3.5 million private placement offering. The financing, consisting of senior secured convertible debentures and common share purchase warrants, was backed by U.S. cannabis private equity firm Gotham Green Partners and others. Founded in 2014 by Chairman Tyler Sookochoff, Lift provides cannabis-related trade shows, online data and product reviews, and educational resources. It will use the deal’s proceeds for working capital, repaying debt and other priorities. Lift, which went public last year, secured $3 million in a Series A financing in 2017.

Ironbridge acquires assets of exhaust systems maker MBRP

Canadian mid-market private equity firm Ironbridge Equity Partners last month acquired the assets of MBRP Inc, a Huntsville, Ontario-based designer and manufacturer of exhaust systems for the automotive and recreational vehicle markets. Terms weren’t released for the deal, which saw Ironbridge partner with MBRP’s management team led by CEO Martin Barkey. Established in 1999, MBRP serves a network of warehouse distributor, retailer and e-commerce customers across Canada and the United States. The acquisition comes on the heels of Ironbridge’s July investment in Alumni Classroom Furniture Inc, a Waterloo, Ontario-based provider of educational furniture solutions.

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Energy Transfer to buy SemCAMS co-owner in $5.1 bln deal

SemGroup Corp (NYSE: SEMG), a Tulsa, Oklahoma-based midstream energy services company, has agreed to be acquired by Energy Transfer LP (NYSE: ET) in a cash-and-stock transaction valued at about US$5.1 billion, including debt. The deal is expected to close later this year or in early 2020. In a separate release, Energy Transfer said the benefits of the acquisition include a crude oil gathering and transportation presence in Canada’s Alberta Basin. Earlier this year, SemGroup partnered with U.S. private equity firm KKR to create SemCAMS Midstream ULC, a $1.75-billion midstream infrastructure platform based in Calgary.

PE-backed Licaplast buys polyethylene products maker M’Plast

Licaplast Industries Emballages Inc has acquired M’Plast Inc, a Montréal-based manufacturer and converter of polyethylene products. No financial terms were disclosed. Founded in 1988 by Roger Damdjee, M’Plast makes and converts polyethylene film into bags or u-film for use in horticulture, agriculture, industrial and other markets. Licaplast, a Montréal-based producer of flexible plastic packaging, said the acquisition provides additional capabilities that will help it meet the requirements of Canadian and U.S. customers. Licaplast was recapitalized last year by Charter Oak Equity, a U.S. private equity firm, and Fonds de solidarité FTQ, a Canadian development capital firm.

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ONCAP-backed Chatters acquires hair salon chain Enviro Trends

Chatters LP has acquired Enviro Trends, a Pembroke, Ontario-based hair salon chain, for an undisclosed amount. Based in Red Deer, Alberta, Chatters provides hair care services and products under its Style Happy brand. Operating through 117 locations in seven provinces, the company said the deal advances a cross-country acquisition strategy by giving it a larger presence in Eastern Canada. Earlier this year Chatters appointed industry veteran Greg Moreau as its new president and CEO. Founded in 2011, Chatters was acquired in 2015 by ONCAP, the mid-market investment platform of Canadian private equity firm Onex Corp.

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Blackstone to acquire Dream Global REIT in $6.2 bln deal

Blackstone Group has agreed to acquire Dream Global Real Estate Investment Trust (TSX: DRG.UN), a Toronto-based owner and operator of office and industrial properties in Europe. Unit-holders of Dream Global will receive $16.79 per unit in an all-cash transaction valued at $6.2 billion. The deal is expected to close in December. Established in 1996 by Chair and CEO Michael Cooper, Dream Global has a portfolio of more than 200 properties located in over 100 Western European cities. The company, publicly traded since 2011, is primarily focused on real estate opportunities in Germany and the Netherlands. Blackstone, a U.S. alternative investment firm, is making the acquisition through its real estate private equity funds.