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A group of investors led by Relay Ventures has provided seed capital to Kira Talent Inc., a Toronto-based company that has developed an online interviewing platform for business managers and recruiters. The amount of the round was not disclosed. Relay Ventures has been actively doing deals since the final close of its US$150 million BlackBerry Partners Fund II in March 2012.
The Government of British Columbia has announced that C$3.3 million in funding has been provided to 61 aboriginal communities to facilitate clean energy development projects and attract additional investment. Cleantech expenditures are made through the First Nations Clean Energy Business Fund, established and capitalized by the provincial government in 2010.
Toronto-based Inmet Mining Corp., which owns and operates copper and zinc mining sites around the world, has rejected a second takeover bid from Canadian mining company First Quantum Minerals Ltd. The latest bid had an estimated value of C$4.9 billion (or C$70 per share). Inmet has a major private equity backer, Ellington Investments, a subsidiary of Temasek Holdings, which invested C$500 million in the company in 2011. First Quantum previously made an unsolicited buyout offer that contemplated an acquisition price of C$62.50 per Inmet share.
Vanoil Energy Ltd., a Vancouver-based developer of oil and gas properties in Africa, has acquired British firm Avana Petroleum Ltd. for approximately C$15 million. Vanoil is a portfolio company of Canadian private equity investor Pinetree Capital Corp., which focuses on natural resource sectors.
Cadens Imaging Inc., a Granby, Québec-based developer of computer-assisted medical imaging solutions, announced it has received C$2.7 million in seed financing. The deal was led by Desjardins-Innovatech SEC, a joint initiative of Desjardins Capital de risque and the Government of Quebec. Other investors included Fonds de solidarité des travailleurs du Québec (FTQ) and Anges Québec.
Onex Corp. will pay $165 million to take a 50% interest in BBAM, a manager of commercial jet aircraft. The deal is expected to close by the end of this year. Onex will acquire a 35% interest in BBAM from BBAM’s management team and a 15% interest in BBAM from FLY Leasing Limited. PRESS RELEASE […]
Sophiris Bio has appointed Noah Knauf as a director of the company. Knauf replaces Jonathan Leff, who has resigned as a director, as a Warburg Pincus nominee director. Knauf focuses on healthcare and life sciences as an investment professional at Warburg Pincus. Prior to joining Warburg Pincus, he was an associate at Parthenon Capital and a consultant with Bain & Company.
(Reuters) Montreal-based Cogeco Cable Inc. announced that it has completed the acquisition of Atlantic Broadband from ABRY Partners which was announced on July 18, 2012. Formed in 2003, Atlantic Broadband operates cable systems in Western Pennsylvania, Southern Florida, Maryland, Delaware and South Carolina.
Ontario Teachers' Pension Plan, a leading Canadian pension fund, plans to open its first Asia office next year in Hong Kong, with as many as 10 staff, as it targets higher returns from direct investments in the region, Reuters reported. Teachers' is one of the world's largest investors into private equity firms, and is increasingly active in direct investing in deals, and the move to set up only its second office outside Canada underscores the significance of Asia to influential pension fund managers.
Yesterday, New York-based CDJ Global Catalyst, the largest shareholder of Toronto, Ontario-based C.A. Bancorp, said it intends to make an all-cash offer to acquire all of the issued and outstanding shares of the publicly traded merchant bank, for roughly $38.65 million. Today, C.A. Bancorp's board announced that it "will consider" the unsolicited offer and "will communicate with C.A. Bancorp shareholders if and when the offer is formally made."
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