Industrial and Manufacturing
Tikehau Capital, Caisse des Dépôts backed Egis to acquire McIntosh Perry and Beam, Longest and Neff, LLC from Signal Hill Equity Partners and other shareholders.
Groupe Nouveau Pont Île-Aux-Tourtes closed $380.15M senior bond offering with participation of CDPQ, BCI (likely) and 4 Ontario and Quebec investors. Scotia Capital Inc. and CIBC World Markets acted as underwriters of the bond offering.
National Bank Private Investment (NBPI), through National Bank SME Growth Fund, L.P., acquired a minority stake in Luc Guertin led Induspac Group.
NFI Group Inc. entered into agreement with Coliseum Capital Management, LLC for investment of up to US $150M by Coliseum, up to US $175M from Coliseum private placement and an alternative offering
GFL Environmental Inc. and HPS Investment Partners backed Green Infrastructure Partners Inc. to acquire Aecon's roadbuilding, aggregates and materials businesses in Ontario for $235M in cash.
LKQ to acquire Uni-Select Inc. for CDN $48 per share for total enterprise value of CDN $2.8B from EdgePoint Investment Group Inc., Birch Hill Equity Partners Management Inc., and other shareholders.
Xaba secured seed funding led by Hazelview Ventures with participation from Whiteshell Group Inc.
Flowserve to acquire Velan Inc. from Velan family, Kernwood Limited and other shareholders at $13 per share for CDN $329M, including assumption of $48.9M outstanding gross debt and Velan's $42.2M of cash and cash equivalents (11/30/2022)
MiddleGround Capital acquired Megatech from from Alfar Capital and Jean Blanchet who remains with the company following the acquisition. Stifel acted as exclusive financial advisor to Megatech.
Martin Cloake and Braden Stenning founded Raven secured US $12M Series A funding led by Momenta Ventures and Chartline Capital Partners with participation from Celtic House Venture Partners, Export Development Canada, private investors. Michael Dolbec, Managing Director at Momenta, joined Raven board of directors.
François Roy-Moisan and Louis Brun founded Sollum Technologies secured $30M new funding from Idealist Capital ($25M) and Fondaction ($5M). Idealist's Pierre Larochelle and Steeve Robitaille joined Sollum board of directors.
SureWerx changes ownership once more to Partners Group from The Riverside Company which acquired SureWerx from Penfund.
Darby Kreitz led Allnorth Consultants Limited secured significant equity investment from Long Point Capital. Ira Starr and Norman Scherr from Long Point joined Allnorth board. Excalibur Investment Banking acted as financial advisor to Long Point Capital.
Marie-Claude Houle led EBC Inc. secured minority investments from Fonds de solidarité FTQ and Investissement Québec.