Transportation and Logistics
TorQuest Partners acquires Brimich Logistics
TorQuest acquired Brimich Logistics from Pat Fergus and family which remain as significant shareholders. Stikeman Elliott acted as TorQuest's legal advisor. RBC Capital Markets and Gowling WLG (Canada) served as Brimich's respective financial and legal advisor.
IQ, Fonds de solidarité and Fondaction to invest US $74M in Lion Electric
Investissement Québec, Fonds de solidarité FTQ and Fondaction to invest US $74M in The Lion Electric Company as part of US $142M financing package. Largest shareholder Power Energy Corporation is not taking part in financing.
Boxhub secures US $12.4M Series A
Boxhub secured $12.4M Series A led by AlleyCorp with participation from Solasta Ventures, Interplay VC, FJ Labs, and Hum Capital. AlleyCorp Partner Susannah Shipton joined Boxhub board of directors.
Rose Rocket secures $38M Series B
Alexander Luksidadi, Justin Sky, and Justin Bailie founded Rose Rocket secured US $38M Series B funding led by Scale Venture Partners with participation from Addition Capital, Shine Capital, Scale-Up Ventures, Funders Club and Y-Combinator.
CDPQ invests $75M in Groupe Nouveau Pont Île-Aux-Tourtes
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.
Coliseum Capital to invest additional up to US $150M in NFI 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
Miovision secures $260M growth funding
Miovision secured $260M growth funding led by TELUS Ventures, Maverix Private Equity and Export Development Canada (EDC).
Intercap Equity controlled E Automotive to delist from TSX
Intercap Equity controlled E Automotive opted for delisting from TSX instead of a going-private transaction. Intercap to backstop $20M private placement to fund substantial issuer bid for cancellation up to $7.5M shares to "provide existing shareholders an opportunity for liquidity in advance of the voluntary delisting."
goeasy Canada Drives’ largest creditor
goeasy Ltd. is revealed as the largest creditor in Canada Drives which filed CCAA protection on March 20, 2023. Canada Drives owed $82.46M (94% of total debt) to goeasy, TD Bank, KAR Global, Automotive Finance Canada, Canada Revenue Agency (CRA).
NPC and IQ complete $40.15M investment in Taiga Motors
Taiga Motors closed $40.15M secured convertible debentures financing with Northern Private Capital (NPC) and Investissement Québec (IQ). NPC's Andrew Lapham, Michael Fizzell and Francis (Frank) Séguin and IQ's Marc Fortin will join Taiga board of directors.
Westcap invests in 18 Wheels Logistics
Westcap Mgt. Ltd. through Westcap MBO III Investment LP invested in 18 Wheels Logistics to form 18 Wheels Holdings Limited Partnership.
Bird Global raises US $3M adding to US $30M Bird Canada acquisition financing
Bird Global, issued additional US $3M Convertible Senior Secured Notes, bringing total notes issuance to US $60M including $27M issued for the acquisition of Bird Canada and US $30M issued concurrent with acquisition.
Torc Robotics to acquire GM Ventures backed Algolux
Daimler Truck AG's Torc Robotics to acquire Algolux from Allan Benchetrit led management shareholders and GM Ventures, Generation Ventures, Drive Capital, Forté Ventures, Real Ventures, Intact Ventures, Alumni Ventures Group, Playground Ventures.
Calin Rovinescu joins Plusgrade board
Calin Rovinescu, former CEO of Air Canada, joined Novacap and CDPQ backed and Ken Harris led Plusgrade board of directors and became an investor.
WeeL secures $750K financing led by Canada Tire
Rob Ostfield founded WeeL secured $750K funding led by Canada Tire Inc. with participation of Michael Galego, Stephen Arbib, Lorne Gertner, and others.
BluWave secures $9.5M Series A
Devashish Paul founded BluWave secured $9.5M Series A funding led by PowerON Energy Solutions/Ontario Power Generation with participation of private investors led by Capital Angels Network. Ontario Power's James Brewer joined BluWave board of directors.
CDPQ acquires 50% of A25 Concession from Transurban
Caisse de dépôt et placement du Québec (CDPQ) reached an agreement for the acquisition of a 50% co-control interest in A25 Concession from Transurban Group (ASX: TCL) for CDN $355M.
Volvo Group Venture Capital invests in Waabi
Raquel Urtasun founded Waabi secured a strategic investment from Volvo Group Venture Capital (VGVC), following US $83.5M Series A in 2021 led by Khosla Ventures with participation of Uber, Radical Ventures, 8VC, OMERS Ventures, BDC Capital, and others.
