U.S. private equity firm Wind Point Partners has partnered with Matt Miller to buy Pestell Group, a New Hamburg, Ontario-based animal feed ingredients distributor and cat litter manufacturer. Terms weren’t disclosed. Pestell consists of two businesses, Pestell Minerals and Ingredients and Pestell Pet Products, founded respectively in 1972 and 1990 by Don Pestell. Miller, a consumer packaged goods executive and senior advisor to Wind Point since 2016, joins the company as CEO. Wind Point Managing Director Paul Peterson said his firm will focus on backing Pestell’s organic and acquisition-based growth potential. The deal’s debt financing was supplied by Antares Capital and BMO Sponsor Finance.

PRESS RELEASE

Wind Point acquires leading animal feed ingredients distributor and cat litter manufacturer

Chicago, IL, June 1, 2018 – Wind Point Partners, a leading Chicago-based private equity firm, has partnered with experienced Consumer Packaged Goods executive Matt Miller to acquire Pestell Group (“Pestell” or the “Company”). Pestell, comprised of two distinct business units, includes Pestell Minerals and Ingredients (“PMI”) and Pestell Pet Products (“PET”). PMI is a leading distributor of animal feed minerals and ingredients for a wide variety of livestock. PET is a full-line manufacturer of cat litter and small animal bedding products.

After a decade of experience in the animal feed industry, serial entrepreneur Don Pestell founded PMI in 1972, distributing five feed ingredients to local feed dealers from a leased building in Ontario, Canada. Driven by a culture of product innovation, quality and customer service, PMI experienced early success. In 1980, Don Pestell expanded PMI by purchasing land to construct an office and warehouse at the Company’s present location in New Hamburg, Ontario, located west of Toronto in the center of Ontario’s agricultural industry. Don subsequently founded PET in 1990 with the launch of Easy Clean branded cat litter, once again utilizing quality and innovation to expand PET’s product offering and customer base.

Today, PMI is one of the largest distributors of animal feed minerals, ingredients and additives in Canada, offering hundreds of distinct products. PMI supplies hundreds of customers throughout Canada and the United States through its own dedicated warehouses and internal fleet, as well as third party warehouses and logistics providers. PET is a full-line manufacturer of cat litter and small animal bedding products serving customers in Canada and the United States. The business produces a wide range of clumping, alternative and traditional litter products and sells through both branded and private label channels. Both PMI and PET operate out of shared warehousing and manufacturing space in New Hamburg, Ontario.

Paul Peterson, Managing Director at Wind Point, commented, “Pestell has an outstanding reputation and track record spanning 45 years. We are excited about the organic growth potential of the business, as well as the opportunity to expand through acquisition. We look forward to working closely with the Pestell team and Matt Miller to build upon the strong platform that Don Pestell built over multiple decades.”

Matt Miller, a seasoned Consumer Packaged Goods executive, has joined the Company as CEO. Miller most recently served as Senior Vice President and General Manager of Big Heart Pet Brands, a producer, distributor and marketer of branded pet products for the United States and Canadian retail market. Miller transitioned to this role from Del Monte’s Consumer Products Division after its sale to Del Monte Pacific Limited in 2014.

Miller commented, “I am extremely excited to join Pestell and work with the team to drive further growth across both businesses. Given the Company’s strong track record on product quality and service, we are committed to remaining an outstanding supplier to our customers. And as we look to grow, we expect to expand our product offering and footprint both organically and through acquisitions.”

PMI President Peter Brunelle and PET President Bob Hemingway will remain in their respective roles leading the day-to-day management of their divisions. Randy Coulombe will remain in the role of Vice President of Finance. Brunelle, Hemingway and Coulombe have played key leadership roles within Pestell and will work closely with Wind Point and Matt Miller to guide the Company through its next phase of growth.

Don Pestell stated, “This marks the beginning of a new and exciting chapter for Pestell. The team at Wind Point has a great history of working with entrepreneur and family-owned businesses. The combination of experience between Wind Point and Matt Miller, along with Peter, Bob, Randy and the rest of the Pestell team, has me very excited for what lies ahead. Our wonderful employees and valued customers are in terrific hands.”

Debt financing for the transaction was provided by Antares Capital and BMO Sponsor Finance. Kirkland & Ellis LLP served as legal counsel to Wind Point, and BKD, LLP provided transaction advisory services in connection with the transaction.

About Pestell Group
Pestell Group distributes animal feed mineral and ingredient products throughout the United States and Canada. The company also manufactures branded and private label cat litter and animal bedding products through a separate business unit. Pestell is headquartered in Ontario, Canada, where its two business units share warehousing and manufacturing space, and maintains 15 third party warehouses across North America for its animal feed products business.

About Wind Point Partners
Wind Point Partners is a leading Chicago-based private equity investment firm with approximately $2 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners VIII, a $985 million fund that was initiated in 2016.

Additional information about Wind Point is available at www.windpointpartners.com.

Media Contact:

Ron Liberman, Wind Point Partners
Phone: 312.255.4812
Email: rliberman@wppartners.com
Wind Point Partners Acquires Pestell Group

IPL Plastics Inc (IPLP), a Montréal-based packaging solutions provider, has priced its proposed initial public offering of common shares at between $13.50 and $16 per unit. This will generate proceeds of about $180 million, not including the greenshoe option. With the IPO’s close, IPLP backers Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ will respectively hold stakes of 28 percent to 28.9 percent and 6 percent to 6.2 percent. CDPQ and the Fonds have invested in the company’s affiliate, Ireland’s IPL Plastics plc, since 2015, when as One51 plc it acquired Saint-Damien Québec-based IPL Inc from Novacap for about $280 million.

PRESS RELEASE

IPL Plastics Inc. Files Amended and Restated Preliminary Prospectus for Initial Public Offering of Common Shares

MONTREAL, June 1, 2018 /CNW/ – IPL Plastics Inc. (“IPLP” or the “Company”) today announced the filing of an amended and restated preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with its proposed initial public offering of its common shares (the “Offering”).

The Offering is being made through a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets and RBC Capital Markets, acting as joint bookrunners, and including National Bank Financial Inc., J&E Davy, Goodbody Stockbrokers UC, Desjardins Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., and Laurentian Bank Securities Inc.

The amended and restated preliminary prospectus contains important information relating to the common shares and is still subject to completion or amendment. A copy of the amended and restated preliminary prospectus is available on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of IPLP in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Anticipated Appointment of Four New Directors
The Company is pleased to announce the anticipated appointment of David McAusland, Sharon Pel, Linda Kuga Pikulin and Mary Ritchie (the “New Directors”) as additional members of the Board of Directors, in addition to Rose Hynes, Hugh McCutcheon, Geoff Meagher and Alain Tremblay who will remain as non-executive directors of the Company. The New Directors are anticipated to be appointed upon completion of the Offering. David McAusland will assume the position of Chairman of the Board of Directors on completion of the proposed initial public offering.

David McAusland is a corporate advisor, lawyer and experienced corporate director and senior executive. Mr. McAusland is a partner in the law firm McCarthy Tétrault LLP and was previously Executive Vice-President, Corporate Development and Chief Legal Officer of Alcan Inc., a large multinational industrial company, where he provided leadership on its worldwide mergers, growth strategies, major transactions and capital investments. Mr. McAusland currently acts as director of Cogeco Inc. and Cogeco Cable Inc., both involved in the communications sector, Cascades Inc., a producer of packaging and tissue products, and ATS Automation Tooling Systems Inc., an advanced automation solutions company. Mr. McAusland is also a director or advisory board member of several well-established private companies and active in community causes. Mr. McAusland received his B.C.L. in 1976 and his LL.B. in 1977, both from McGill University.

Sharon Pel is a corporate director and was Senior Vice President, Group Head of Legal and Business Affairs and Corporate Secretary of TMX Group Limited until 2015, where she was responsible for advising the TMX board and executive management on all aspects of its governance, operations and legal and regulatory affairs. Prior to that, she was a partner at Torys LLP. Ms. Pel currently provides consulting services through her firm, Inglewood Advisory Services. Ms. Pel is a member of the board of trustees of OPTrust, the administrator of the OPSEU Pension Plan, a defined benefit plan with over 92,000 members and retirees. Ms. Pel holds an Honors Bachelor of Arts from the University of Toronto and a LL.B from the University of Ottawa. She is Member of the Law Society of Upper Canada and holds the ICD.D designation. She is involved in several charitable endeavors including serving on the board of Canadian Feed The Children.

Linda Kuga Pikulin served as the President of PepsiCo Beverages Canada from June 2010 to February 2011. She led the complex integration of PepsiCo’s brand and bottling businesses to position the company for long-term growth. From 1998 to 2010, she served as the President of Pepsi Bottling Group Canada responsible for the sales, manufacturing, merchandising and distribution of Pepsi products. Under her leadership, the bottling company delivered unprecedented market share and profit growth. Ms. Pikulin is an Independent Director for Enersource Corporation. Ms. Pikulin earned a Bachelor of Science Degree in Business Administration from Robert Morris University in Pittsburgh, PA.

Mary Ritchie is the President and Chief Executive Officer of Richford Holdings Ltd., an accounting and investment advisory services firm based in Edmonton, Alberta. She has over 30 years of experience in both the public, private and not-for-profit sectors and is a member of CPA Canada and a Fellow of CPA Alberta. Ms. Ritchie is a member of the board of directors and audit committees of EnWave Corporation, Alaris Royalty Corp. and Industrial Alliance Insurance and Financial Services Inc., and is also a member of RBC Global Asset Management’s independent oversight committee. Ms. Ritchie holds a B.A. degree from the University of Western Ontario and a Bachelor of Commerce degree from the University of Alberta.

About IPLP
IPLP, upon the effective date of the scheme of arrangement of IPL Plastics plc (which remains subject to sanction by the Irish High Court), will be a leading sustainable packaging solutions provider primarily in the food, consumer, agricultural, logistic and environmental end-markets operating in Canada, the U.S, the U.K., Ireland, China and Mexico. IPLP will employ c. 2,400 people and is headquartered in Montreal, Québec.

For further information: Investor Enquiries: Alan Walsh, Chief Executive Officer, +353 1 612 1375; Pat Dalton, Chief Financial Officer, +353 1 612 1377, www.iplplasticsinc.com; Media Enquiries: Phil Koven, Bay Street Communications, +1 647 496 7858; Tom McEnaney, McEnaney Media, +353 87 2222 666

Canadian private equity firm Onex Corp has made a US$175 million long-term investment in Ryan Specialty Group LLC (RSG), a Chicago-based specialty insurance organization that provides solutions for brokers, agents and insurance carriers. Onex is investing US$150 million of preferred equity and US$25 million of common equity on a direct basis. Founded in 2010 by Chairman and CEO Patrick Ryan, RSG’s global operation includes a wholesale brokerage firm, RT Specialty, and a collection of managing general underwriting companies within RSG Underwriting Managers. Last year, Onex closed its fifth flagship fund, Onex Partners V, raising US$7.15 billion.

PRESS RELEASE

Onex Invests in Ryan Specialty Group

TORONTO, June 04, 2018 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX:ONEX) today announced it has made a $175 million investment to form a strategic, long-term relationship with Ryan Specialty Group, LLC (“RSG”). The investment, comprised of $150 million of preferred equity and $25 million of common equity, was made by Onex and not through one of its sponsored funds.

Founded in 2010, RSG is a leading international specialty insurance organization, which includes a wholesale brokerage firm (RT Specialty) and an underwriting management organization (RSG Underwriting Managers), comprised of 22 individual underwriting companies. In its brief history, RSG has achieved extraordinary growth by establishing itself as a preferred partner of clients and an ideal platform for brokers and underwriters.

“RSG is an outstanding organization led by Pat Ryan, an icon in the insurance industry,” said Bobby Le Blanc, a Senior Managing Director with Onex. “RSG has recruited top talent who has grown the business at an impressive rate. We’re delighted to partner with Pat and his team to support their growth plans for years to come.”

“I have known Bobby and Onex for 15 years and have tremendous respect for them,” said Pat Ryan, Founder, Chairman and CEO of RSG. “Onex has a terrific track record of investing in insurance businesses and is the ideal partner for us. This investment will enable us to continue our strong organic growth and our history of successful acquisitions.”

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $32 billion of assets under management, including $6.7 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.

Onex’ businesses have assets of $49 billion, generate annual revenues of $31 billion and employ approximately 207,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711

Montréal-based real estate technology company NestReady has raised a new, undisclosed financing that brings its total funding so far to $5.7 million. Investors in the latest round include National Bank of Canada and Peter Aceto, former CEO of Tangerine (ING Direct). The company has previously been backed by TechStars, 500 Startups, BDC Capital, 7Seas Partners, Stage1Ventures, NXT Ventures and angel investors. Founded in 2012, NestReady’s platform streamlines the home-buying process to include everything from home search and property visits to selecting agents and financing. The funds raised will be used to advance artificial intelligence capabilities.

PRESS RELEASE

Real Estate Tech Company NestReady Raises $5.7 Million for AI Development

Former co-founder & COO of Placester to join leadership team

MONTREAL, June 4, 2018: NestReady, a real estate technology company that partners with mortgage lenders to offer a seamless homebuying experience, announced this morning the closing of a strategic round that brings the total capital raised to $5.7 million. Among investors include National Bank of Canada and former CEO of Tangerine and ING Direct, Peter Aceto. The company also announced the appointment of industry veteran Frederick Townes as co-founder and CTO. Frederick was previously the technical co-founder of Mashable, and co-founder and COO of Placester, the largest real estate technology company in the US, for which he raised $100 million.

“NestReady is leading the shift in the fintech industry occurring around mortgage lending and real estate,” said Frederick Townes. “Our technology bridges the gap lenders face in adding value and gaining insights into the processes and experiences of today’s digital homebuyer. I am thrilled to be joining the NestReady team contribute to the momentum we’re building.”

As we see innovative mortgage lenders like QuickenLoans and LoanDepot making significant investments in the integration of mortgage and real estate, lenders are being forced to adapt for fear of falling behind. With plug-and-play solutions, NestReady makes it possible for lenders to offer a convenient and fully integrated homebuying experience for their clients, while they increase loyalty and conversions.

The funds raised in this round will be used to further develop the company’s AI capabilities, including predictive analytics and machine learning models to enhance the homebuying process. NestReady will also continue the expansion of its operations, partnering with major players in the North American market in the upcoming months. Since its recent launch, NestReady went live with over 10 clients in Canada and the US, helping them to better engage with their customers and to increase conversions.

“In NestReady we have found a partner who is able to bring a powerful online home search capability to our customers,” said Clint Morgan, Senior VP and Chief Lending Officer of Ruoff Home Mortgage. “We have been thrilled with the NestReady support team and the ability to adapt their system to the specific needs of Ruoff Home Mortgage.”

Investors in previous rounds include TechStars, 500 Startups, BDC Capital, 7Seas Partners, Stage1Ventures, NXT Ventures and over 15 strategic angel investors. “This additional capital will propel us forward in making significant and exciting additions to our product that we look forward to revealing in the coming months,” said Mauro Repacci, CEO at NestReady.

About NestReady
NestReady streamlines the homebuying process by merging real estate and mortgage lending to offer one seamless digital experience. NestReady solutions enable lenders to support every single step of their client’s homebuying journey and build a collaborative environment where buyers, real estate agents, and financial institutions win by working closely together.

Contact
Chloe Manship
Public Relations at NestReady
chloe@nestready.co

514-900-3317

Red Deer, Alberta-based auto finance company Rifco Inc (TSX-V: RFC) has agreed to acquire a $25 million portfolio consisting of more than 1,850 consumer automobile loans. The seller, a competing Canadian auto lender, was not identified. The loans portfolio being acquired, which primarily originated in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and which Rifco reports have been “performing consistently through the last year,” will grow the company’s loan assets by over 10 percent. The deal will be financed in part through the proceeds of loans supplied by U.S. alternative assets manager Ares Management.

PRESS RELEASE

Rifco Acquires $25M Automobile Loan Portfolio

Red Deer, Alberta / TheNewswire / June 4, 2018; Rifco Inc. (TSXV: RFC) (“Rifco” or the “Company”) the largest publicly-traded alternative auto finance company in Canada, announced today that it has closed on an agreement to acquire a $25M loan portfolio (the “Portfolio”) consisting of over 1,850 consumer automobile loans. The Portfolio is being acquired from a special purpose entity (the “Seller SPE”). The Portfolio was originated by a competing Canadian auto loan corporation, (“the Seller”).

The Company is excited to announce that the addition of the Portfolio will increase Rifco’s loan assets by over 10 percent. The favourable terms of the purchase mean that the Portfolio will be immediately accretive to Adjusted Net Income and Adjusted Net Income Per Share.

Rifco was selected from a qualified pool of bidders to acquire the Portfolio based on the strength of its bid, its ability to execute the transaction expeditiously, and its positive reputation. The acquisition price was calculated at closing based on a negotiated formula. Components considered in the formula included the outstanding balance of the Portfolio and the delinquency status of the individual loans.

Rifco has completed extensive due diligence on the Portfolio. Some of the individual loans are written at a deeper credit niche than Rifco’s existing automobile loans. When adjusted for expected credit losses and servicing expenses, Rifco expects the Portfolio to provide positive cash flow, positive Adjusted Net Income and Adjusted Net Income Per Share.

The Portfolio has been performing consistently through the last year. The loans in the Portfolio have an average seasoning of 18 months and were primarily originated in B.C., Alberta, Saskatchewan, Manitoba, and Ontario. The average contractual interest rate of the Portfolio is 27%. The Portfolio generates positive returns and was offered for purchase in order to provide liquidity to the Seller.

Since April 30, 2018, Rifco has been servicing the loans, for a servicing fee, with amounts collected to the benefit of the Seller. The Company will continue to service the Portfolio subsequent to the Portfolio acquisition with no further disruption to the Portfolio borrowers and to its existing business.

As discussed in the notes to Rifco’s most recent Condensed Consolidated Interim Financial Statements and associated Management’s Discussion and Analysis, International Financial Reporting Standards (“IFRS”) have recently been updated to reflect the new standard on loan loss provisioning (“IFRS 9”). Due to the introduction of IFRS 9, the Company will record a significant loan loss provision on the closing date of the transaction. This provision is taken independent of purchase price and will be equal to at least 12-months of expected losses for current and performing Portfolio loans. As such, the Company’s net income will be negatively impacted by this non-cash charge. The impact will be reversed, over time, as the loans run off. Adjusted Net Income, which does not include non-cash provisions for future potential losses, is expected to be improved immediately and throughout the life of the Portfolio.

The purchase of the Portfolio will be financed, in part, with the proceeds of loans made by funds managed by Ares Management L.P. Rifco will also be contributing a minority portion of the capital required to fund the purchase. Some of Rifco’s capital contribution has been achieved through the issuance of $4.5M of new subordinated debt. The new financing arrangements will not have an impact on the Company’s existing credit lines or continuing business.

The Portfolio acquisition does not directly impact Rifco’s ongoing loan originations process and, as such, will not contribute to future origination volume. The Portfolio will likely have a run off rate that is faster than Rifco’s current assets.

About Rifco

Rifco Inc. is focused on being the best alternative auto finance company through its wholly owned subsidiary Rifco National Auto Finance Corporation. Our mission is to help deserving Canadians own automobiles . Rifco is Canada’s largest publicly traded alternative auto finance company.

Rifco seeks to create sustainable long-term competitive advantages through personalized partnerships with dealers, innovative products, the use of industry-leading data and analytics, and leading collections practices. Rifco’s corporate culture fosters employees that are highly engaged, innovative, and performance driven.

Rifco is committed to creating value for all stakeholders through profitable growth and predictable credit performance, while pursuing its long-term vision of $500M in annual loan Originations.

About Ares Management

Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $112.5 billion of assets under management as of March 31, 2018 and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com .

The common shares of Rifco Inc. are traded on the TSX Venture Exchange under the symbol “RFC”. There are 21.60 million shares outstanding and 23.23 million (fully diluted) shares.

CONTACT:

Rifco Inc.

Warren Van Orman, Vice President and Chief Financial Officer

Telephone: 1-403-314-1288 Ext 7007/Fax: 1-403-314-1132/Email: vanorman@rifco.net

Website: www.rifco.net

SensorUp, a Calgary Internet of Things (IoT) for geolocation platform, has raised $2 million in a seed-stage financing. The round was led by Vanedge Capital, a Canadian venture capital firm. Founded in 2011 by CEO Steve Liang, SensorUp provides data, analytics and artificial-intelligence solutions that enable organizations to aggregate IoT data from multiple systems and transform them into actionable insights. The company plans to use the funds raised for a go-to-market campaign and to create new solutions for smart cities, first responders and field-service management. Last year, Vanedge closed its second fund, Vanedge Capital II, at $161 million.

PRESS RELEASE

SensorUp Raises $2M Seed Round to Accelerate Expansion of IoT for Geospatial Platform

June 05, 2018

CALGARY, Alberta–(BUSINESS WIRE)–SensorUp, a leading Internet of Things (IoT) for geolocation company, today announced that it has raised $2 million in seed financing, led by Vanedge Capital. The financing will allow SensorUp to accelerate the go-to-market campaign of their award-winning SensorThings Cloud service and create new data-driven IoT business solutions for smart cities, first responders, and field service.

SensorUp provides the leading software for companies that rely upon the geospatial features of their IoT implementation. SensorUp’s founder and CEO, Dr. Steve Liang, is a global influencer in geospatial community and has developed several core IoT standards including the United Nations’ and the Open Geospatial Consortium’s (OGC) SensorThings standard. OGC is the key standards organization for geospatial technology and is responsible for ensuring that geospatial IoT data is interoperable and future-proof. SensorUp’s software is the first and most complete IoT service platform that is certified compliant with the OGC and ISO standards for IoT.

Because of their close adherence to key standards, SensorUp’s software is future-proof, extensible, scalable, and guaranteed interoperable. SensorUp has received numerous awards including the NATO Defence Innovation Challenge award for secure federation of IoT devices. The company has a global customer base in smart cities and industrial IoT, including top-tier organizations like Lockheed Martin, Department of Homeland Security, Natural Resources Canada, and more than 10 world-leading smart cities around the world.

Paul Lee, managing partner of Vanedge Capital, believes that SensorUp will become the IoT analytics platform of choice for customers who rely on geospatial in their IoT implementations. “Vanedge has deep knowledge and a broad network within the geospatial sector that we developed supporting other portfolio companies in the space,” said Lee. “We believe SensorUp has a clear leadership position in IoT for geospatial and that their software will enable customers to seamlessly integrate disparate IoT data, provide real-time situational awareness, and gain meaningful insights for smart cities, first responders and field service management.”

Liang said that this seed round of financing strongly affirms SensorUp’s position as the industry leader in IoT data and analytics for geospatial. Liang said, “We’re thrilled about this strategic partnership with Vanedge to bring to market a suite of IoT business solutions based on geospatial analytics and Artificial Intelligence (AI) for IoT data.”

About SensorUp

SensorUp is an Internet of Things company, providing data, analytics, and artificial intelligence solutions that enable companies to rapidly aggregate IoT data from multiple systems and transform them into actionable insights. Learn more at www.SensorUp.com.

About Vanedge

Vanedge Capital is a Vancouver based early-stage venture capital fund investing in technology inflection points in cloud computing, artificial intelligence, cyber security, SaaS and digital media. As entrepreneurs and investors, Vanedge’s team has built and led world-class companies using a unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent. Vanedge has over $296M in assets under management. Learn more at www.VanedgeCapital.com.

Contacts
SensorUp
Steve Liang
marketing@sensorup.com

U.K. cyber safety company SafeToNet Ltd has acquired VISR Inc, a Toronto-based specialist in using artificial intelligence to detect the emotional well-being of children online. No financial terms were released. SafeToNet, which also announced raising a US$13 million financing led by West Hill Capital, said the buy will broaden the company’s technologies and intellectual property and give it a foothold in North America. VISR, founded in 2014 by CEO Robert Reichmann, secured funding from Horizons Ventures, Ontario Centres of Excellence and Ryerson Futures.

PRESS RELEASE

SafeToNet Acquires VISR Inc & Raises $13m Series A Private Placement

LONDON, June 1, 2018 /PRNewswire/ — SafeToNet Limited, the award-winning British cyber safety company has today announced the acquisition of the entire issued share capital of Toronto-based VISR inc., industry specialists in using AI to automatically detect the emotional well-being of children online.

Richard Pursey, CEO of SafeToNet said, “We are delighted to have joined forces with VISR. It is renowned for the complex neural networks it has built to automatically identify indicators of emotional well-being among children online. Its AI systems have analysed over 42 million posts and have detected over six hundred thousand incidents of distress in children from around the world using social networks and messaging apps. They are pioneering in this field and by bringing our two companies together we will safeguard even more children from predatory risks such as grooming, sextortion, cyberbullying and more. This acquisition will also allow us to further strengthen and broaden our existing patent-protected technologies and will expand SafeToNet’s intellectual property into the field of health and well-being online.

“We have been in discussions with VISR’S leadership team for a while, having always rated them very highly. We share a common vision on how children should be kept safe online. SafeToNet’s safeguarding technologies do not spy or pry on children and neither do VISR’S. Both systems fully automate content filtering and respect a child’s rights to privacy without exposing to a parent what is sent or received. We both believe that artificial intelligence and automate message filtering is the only way to safeguard children from so many horrific predatory risks that exist in today’s online world.”

Robert Reichmann, Chairman of VISR said, “In the time we have spent getting to know the SafeToNet team, we have been continually impressed with their progress and capacity to execute on their vision. The Company’s traction when coupled with its patents made this acquisition compelling. SafeToNet’s innovative solutions for child safety creates a perfect match with VISR’s mood and psychological distress technology. Together we will be able to enhance our detection rates of anxiety, depression and aggression and correlate them more accurately to filter bullying, abuse, grooming and other predatory risks, whereby providing families with an even better offering. Both our companies exist to solve the same challenges, and so we are very excited to join their family, working together to create a safer digital world for our children.”

David Van Bruwaene, CEO and Chief Data Scientist of VISR says, “Factors like perceived anonymity, virality, and persistence of shared content online tend to amplify the psychological effects of childhood experiences — for good and for bad. I am excited to join forces with SafeToNet to build digital tools to aid in a comprehensive approach to safeguarding children online. I have no doubt that our technological, philosophical, and humanitarian approaches will lead to a solution that is greater than the sum of our parts. Each day that we have worked together I have seen our projects flourish, with each success renewing our shared hope that the next generation will receive the digital environment that they deserve.”

Pursey added, “This acquisition gives SafeToNet a foothold in North America, a market which is crucial to our safeguarding ambitions. We are expanding with real purpose and vigor having recently opened offices in Germany too. The team in Toronto and Waterloo further strengthens our existing research and development department and combines a highly talented group of Ph.D.-level researchers and software developers to our existing cyber-psychology team based in London. We will continue to add more world-class people to VISR which will take on the global leadership of our data-science initiatives and help us to develop our cognitive computing systems so that we can detect and filter even more harmful content and safeguard many more children worldwide.”

SafeToNet Raises $13m Series A Private Placement

SafeToNet, has successfully raised $13m in a private placement series A via West Hill Capital.

The funding significantly increases the power and market potential of SafeToNet’s cyber-safety filtering services and gives it the financial depth and strength to enhance the development of its AI harm detection software and expand into new territories around the world.

Richard Pursey, CEO of SafeToNet said, “The demand from investors was incredible and our placement heavily oversubscribed. It highlights not only the strength and depth of SafeToNet’s solution but also recognizes the overwhelming need to solve the seemingly never-ending issues associated with social networking and messaging apps. Rarely a day goes by when we don’t read something in the news about cyberbullying, abuse, aggression, grooming and more online. SafeToNet is tackling what has become a global social issue. It only exists to safeguard children online. Nothing is more important to us and so this funding is going to make a significant and measurable difference to many children around the world.

SafeToNet’s patent-protected software is pioneering. This investment allows us to further develop our IP and technology so that we can identify and filter even more online risks. The very nature of artificial intelligence requires a volume of users to ensure the accuracy of algorithms. In our case, it means we can extend the capabilities of our threat-detection and filtering software into new languages and cultures. We have already engaged with channel partners across Europe, North America, the Middle East and India. This investment allows SafeToNet to further expand its operations internationally and will help us engage with even more commercial partners in territories new to the Company.”

Robert Caie, Managing Partner of West Hill Capital said, “SafeToNet is a world-class technology business that is tackling a global problem. It came as no surprise that the placement was so heavily oversubscribed. SafeToNet has all the ingredients to become one of the most recognised Cyber Safety companies in the world. It has a highly experienced leadership team, robust technology, a clear B2B2C route to market, predictable revenue streams and compelling client retention strength. We wish the team every success as it continues to safeguard children around the world.”

About SafeToNet™

SafeToNet is an award-winning cyber safety company that safeguards children from online risks such as cyberbullying, grooming, abuse, aggression and more. It was the first company in the world to identify and disable individual apps running on both an iOS and Android device. It was also the first to launch a real-time sext filtering tool that helps to prevent a child from sending inappropriate images. The Company’s software is pioneering and uses a mixture of artificial intelligence, natural language processing and device management technologies to keep children safe online without snooping, prying or spying.

The Company is a member of the London Stock Exchange Elite Programme. It is also one of only five companies in the world to be part of the Go-Ignite accelerator designed to connect SafeToNet to the clients of Deutsche Telecom, Telefonica, Singtel and Orange. SafeToNet has offices in London. Cologne and Toronto.

For more information visit http://www.safetonet.com or email press@safetonet.com.

About West Hill Capital

West Hill Capital is a leading private equity and venture capital firm providing growth capital to innovative financial services businesses and pioneering technology companies. It offers these investments with EIS tax breaks to its network of UHNW, HNW and professional investors.

In recent years, West Hill has deployed nearly £100million into 24 companies, of which the partners of West Hill have personally invested over £3million on the same terms as investors. During this time, they have had a profitable trade sale, a successful admission to AIM and a number of companies have subsequently attracted funding at a higher valuation, one of which has presented shareholders a 16x multiple of money since 2012. For more information, please register here: http://www.westhillcapital.co.uk/data.php or email rfcaie@westhillcapital.co.uk.

For PR inquiries, please contact Gary Farrow
E: garyfarrow@corporationltd.com
P: 0207 8732416
M: 07860 491 959

Canadian alternative equity firm Alaris Royalty Corp has committed an additional US$10 million to C&C Communications LLC (ccComm), a Federal Way, Washington-based Sprint preferred wireless retailer. Alaris, which has backed ccComm since 2016, said the deal’s proceeds will fund the company’s acquisition of an additional 33 Sprint locations in Washington, Oregon, Idaho and California, bringing total U.S. locations managed to 96. Alaris has deployed more than $200 million over the past 12 months, including $50 million in follow-on investments in existing portfolio companies.

PRESS RELEASE

Alaris Royalty Corp. Contributes US$10 Million to ccComm

CALGARY, Alberta, June 04, 2018 (GLOBE NEWSWIRE) — Alaris Royalty Corp. (“Alaris” or the “Corporation”) (TSX:AD) is pleased to announce a follow-on contribution to C&C Communications LLC (“ccComm”) of US$10.0 million (the “ccComm Contribution”) in exchange for an annualized distribution of US$1.4 million. This is Alaris’ third tranche of financing into ccComm for a total of US$16.2 million with total annualized distributions of US$2.3 million. Proceeds of the ccComm Contribution were used to fund an acquisition of an additional 33 Sprint locations in Washington State, Oregon, Idaho and California bringing total locations managed by ccComm to 96 in 7 states. Alaris has deployed in excess of CAD$200 million over the last twelve months of which approximately CAD$50 million has been follow-on capital provided to existing Partners.

ABOUT THE CORPORATION:
Alaris provides alternative financing to the Partners in exchange for distributions with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Distributions from the Partners are adjusted each year based on the percentage change of a “top line” financial performance measure such as gross margin and same-store sales and rank in priority to the owners’ common equity position.

For further information please contact:
Curtis Krawetz
Vice President, Investments and Investor Relations
Alaris Royalty Corp.
P: (403) 221-7305
www.alarisroyalty.com

U.S. private equity firm Gores Group has sold Millennium1 Solutions, a Toronto-based business process outsourcing solutions provider, to Dimension Data plc, a South African information and communications technology services and solutions business. No financial terms were disclosed. Millennium provides contact centre, credit card, and back office and administration services to Canadian customers in the financial services, insurance and retail sectors. It will be combined with Merchants, Dimension Data’s customer management outsourcing solutions affiliate. Gores Group acquired Millennium in 2013, carving it out of Canadian financial technology company DH Corp.

DH Corp was acquired last year by U.S. private equity firm Vista Equity Partners for $4.8 billion.

PRESS RELEASE

The Gores Group Sells Millennium1 Solutions to Dimension Data plc

LOS ANGELES — The Gores Group today announced it has sold Millennium1 Solutions (“Millennium” or the “Company”) to an affiliate of Dimension Data plc (“Dimension Data”), a global information and communications technology services and solutions provider. The Gores Group acquired Millennium in 2013 through its Gores Small Capitalization Partners investment fund.

Headquartered in Toronto, Millennium is a leading business process outsourcing (“BPO”) solutions provider in Canada, and has a strong track record of providing end-to-end services to many premier Canadian clients in the financial services, insurance, and retail sectors. After the closing, Millennium will be combined with Merchants, a wholly-owned subsidiary of Dimension Data which provides customer management outsourcing solutions.

“The transformation of Millennium since 2013 has been astounding,” said Anthony Chirikos, Managing Director of The Gores Group. “We’ve thoroughly enjoyed working alongside Tom Band, Millennium’s CEO, and the Company’s talented leadership team to complete a complex carve-out of the business, divest non-core assets, and invest heavily in people, technology and infrastructure. Millennium has grown rapidly, added employees and facilities, and matured into a premier Canadian BPO services provider. We are confident that Millennium will continue to prosper alongside the Dimension Data and Merchants teams.”

Don Moffatt, Chairman of Millennium’s Board of Directors, added, “Gores has been an outstanding partner for Millennium, and I appreciate that they rolled up their sleeves and helped our managers build the Company into the strong business that it is today. Dimension Data and Merchants are a great fit for Millennium, and our customers and employees are in good hands and can expect a smooth transition.”

Petsky Prunier acted as the sole financial advisor to Millennium in this transaction.

About The Gores Group

The Gores Group, founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. Over its 30-year history, The Gores Group has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group also maintains an office in Boulder, Colorado. For more information, please visit www.gores.com.

Contacts

The Gores Group
Jennifer Kwon Chou
Managing Director
(310) 209-3010
or
Sitrick And Company
Terry Fahn
(310) 788-2850

Canadian steelmaker Stelco Inc (TSX: STLC) has acquired thousands of acres of lands owned by Legacy Lands LP for about $114 million. The properties are where the company conducts its operations in Hamilton and Nanticoke, Ontario, including lands in Hamilton that contain the Hamilton Works blast furnace and cast houses, as well as developable lands and port facilities. Stelco said the deal provides for greater operational flexibility and will allow it to grow the core business now and in the future. Stelco, which went public last year, raising $230 million, is majority owned by U.S. private equity group Bedrock Industries.

PRESS RELEASE

Stelco Announces Land Acquisition

HAMILTON, ON, June 5, 2018 /CNW/ – Stelco Holdings Inc. (“Stelco Holdings” or the “Company”), (TSX: STLC), today announced that its wholly owned subsidiary, Stelco Inc. (“Stelco”) has completed the acquisition of lands beneficially owned by Legacy Lands Limited Partnership (the “Land Vehicle”) on which Stelco conducts its operations in Hamilton (approximately 760 acres) and Nanticoke, Ontario (approximately 2300 acres), including lands in Hamilton that contain the Hamilton Works blast furnace and cast houses, as well as developable lands and port facilities (collectively, the “Lands”). The purchase price payable for the Lands is approximately $114 million and will be financed with a 25-year, 8% per annum mortgage note (the “Mortgage Note”) issued to the Land Vehicle. The quarterly Note payments will be distributed by the Land Vehicle to fund various pension and other post-employment benefit commitments (“OPEBs”) for Stelco retirees.

In connection with the Land acquisition, existing lease arrangements between Stelco and the Land Vehicle were terminated and the associated rental payments have been cancelled. In addition, Stelco has entered into an amended OPEB funding agreement (the “Amended OPEB Funding Agreement”) that reduced Stelco’s exposure to future variable funding requirements (including future excess free cash flow contributions) and provided the independent employee life and health trusts (“ELHTs”) established as part of Stelco’s CCAA reorganization, with a fixed funding commitment by Stelco.

The Amended OPEB Funding Agreement replaces Stelco’s funding obligations under the OPEB funding agreement that was entered into at the closing of Stelco’s CCAA reorganization (the “Original OPEB Funding Agreement”). The following outlines Stelco’s OPEB funding obligations (excluding payments associated with excess free cash flow): (see chart and notes here)

The Land acquisition provides Stelco with the flexibility to utilize the Lands for its existing operations and allows Stelco to develop the Lands in a manner that both complements our current and future operations and pursue others uses for the Lands. In addition to providing for more fixed annual funding of OPEBs, the Amended OPEB Funding Agreement and Mortgage Note payments could save Stelco up to $87 million compared to the Original OPEB Funding Agreement and lease payments and eliminates Stelco’s variable funding obligations tied to excess free cash flow that could have resulted in significant additional OPEB funding contributions.

Stelco continues to receive the benefit of the environmental release in respect of the Lands that was granted by the Ministry of the Environment and Climate Change on closing of the CCAA reorganization.

“This acquisition provides Stelco with significantly greater strategic operational flexibility and allows Stelco the ability to grow its core business. Our retirees and employees will also directly benefit as this new arrangement will provide more certainty in terms of the funding to be provided by Stelco to the ELHTs to support OPEBs. Additionally, we look forward to engaging with various other parties including the City of Hamilton on further development opportunities of the land and port area” said Alan Kestenbaum, the Company’s Executive Chairman and Chief Executive Officer.

About Stelco
Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products. With first-rate gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, our steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States as well as to a variety of steel services centres, which are regional distributers of steel products.

For further information: For investor enquiries: Don Newman, Chief Financial Officer, 905.577.4432, don.newman@stelco.com; For media enquiries: Trevor Harris, Vice-President, Corporate Affairs, 905.577.4447, trevor.harris@stelco.com

Toronto-based food ordering app Ritual has secured more than $90 million (US$70 million) in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners and joined by Greylock Partners, Insight Ventures and Mistral Venture Partners, all of which backed the company’s Series B last year. Founded in 2014, Ritual connects restaurants with customers through a tool to place, pay for and pick-up lunch orders for themselves and workplace teams. The company said in the past year it has increased workplace teams to over 44,500, seen 2 x growth in restaurant partners, and expanded into four new cities. Ritual is led by Co-founder and CEO Raymond Reddy.

Photo (left to right): Robert Kim, Raymond Reddy and Larry Stinson, founders of Ritual.

PRESS RELEASE

Dynamic Social Ordering Feature Piggyback Drives Explosive Growth of Workplace Teams on Order Ahead App Ritual

Ritual Closes $70 Million Round after Adding More Than 44,500 Workplace Teams, Doubling Roster of Restaurant Partners in North America

June 06, 2018

SAN FRANCISCO–(BUSINESS WIRE)–Order ahead app Ritual today announced year over year growth to more than 44,500 workplace teams added and 2x growth of restaurant partners, in addition to expansion into four new cities and the closing of a $70 million Series C.

Ritual’s rapid growth is largely driven by workplace teams adopting its social ordering and delivery feature Piggyback. Upon signing up for Ritual, Piggyback connects users with teams based on workplace and location, creating a dynamic social element to ordering and picking up lunch, which is often an otherwise individual experience.

“For many urban workers, their neighborhood is their food court. Ritual is designed so that colleagues and coworkers can easily enjoy the local eateries around them and feel like they are one team dining together,” said Ray Reddy, Co-Founder and CEO, Ritual. “Furthermore, Ritual makes it easy for teams to order and bring food back to the office for colleagues. Once restaurants have one customer on Ritual, they are giving that customer a tool to save time when they order and pick-up, and turning that same customer into an advocate for its brand in the workplace, leveraging a network effect that drives additional lunch orders and deliveries.”

Today, more than 44,500 teams across companies like Goldman Sachs, Oath, Spotify and SpotHero have formed on Ritual. More than 50 percent of all orders placed by team members are open to others to join. Team members who often had lunch individually are now sharing lunch time, driving company camaraderie and team unity.

Ritual works with teams and restaurants to make lunchtime ordering, pickup and delivery more convenient in three core ways:

Order ahead food technology: Ritual provides restaurants with turnkey mobile ordering technology, which gives consumers a convenient solution to discover, order and pick up their meals — specifically during lunchtime.
With 3,000 restaurants across ten markets, teams have access to pick-up from local eateries or national chains via a single mobile app.
Social ordering and delivery via Piggyback: Using Ritual’s social ordering and delivery feature, Piggyback, teams can connect and collaborate on lunch orders and pick-up lunch for busy teammates. Restaurants are able to leverage existing customers to effectively act as delivery persons for these orders.
Restaurants on Ritual’s platform experience repeat customer visits and size orders increase up to 4x due to social features, ease of use and transparent pricing structure.
Actionable data for smoother lunch rush: Ritual provides real-time data on store experience, food quality and customer satisfaction metrics so operators can run a better business, which leaves consumers with a smooth ordering and pick-up experience to maximize their lunch breaks.
In addition to providing metrics on their own business, Ritual can help operators benchmark metrics to similar businesses to help operators understand where they are doing better or worse. With actionable insights, operators can often double Customer Satisfaction Score (CSAT) metrics to keep more customers coming back.

To support the rapid growth, Ritual closed a $70 million Series C round led by Georgian Partners with participation from existing investors Greylock Partners, Insight Ventures, and Mistral Venture Partners.

In 2017, Ritual added Tishman Speyer, the leading owner, developer, and manager of premier commercial real estate in top cities around the world, as a Series B strategic investor. Tishman Speyer is scaling Ritual through its global properties, and will help the company continue its strong growth among real estate investors and property managers.

“As part of our workplace amenity program Zo, Ritual creates a sense of community for our tenants, makes their day-to-day lives easier and boosts their productivity, and we’re excited to bring this experience to more Tishman Speyer locations globally,” said Rob Speyer, President and CEO of Tishman Speyer. “We take great pride in the distinctive quality, value and services we offer to our tenants worldwide, and Ritual fits perfectly into our philosophy.”

Ritual is currently available online and via iOS and Android apps in major metro markets, including Boston, Chicago, Houston, Los Angeles, Minneapolis, New York, San Francisco, Santa Monica, Washington, D.C., and its hometown of Toronto. Focused on densely-populated metros, Ritual plans to expand its offering to Atlanta, Dallas, Philadelphia and San Diego in the coming months.

“This is a huge market opportunity. Ray and his team are building a great business with a beautiful product that enables merchants to quickly digitize and grow revenues,” said Steve Leightell, Partner, Georgian Partners. “We’re excited to be leading this round and to have the opportunity to partner with Ritual to further accelerate their use of machine learning, artificial intelligence and data science.”

About Ritual

Order ahead app Ritual connects restaurants with customers to offer a simple, time saving tool to place, pay for and pick-up lunch orders for themselves and their workplace teams. The 2017 New/Emerging Technology MAXI Gold Award winner works with more than 3,000 restaurants to serve customers in 10 cities across North America, including Boston, Chicago, Houston, Los Angeles, Minneapolis, New York, San Francisco, Santa Monica, Washington, D.C., and its hometown of Toronto. Ritual was founded in 2014 and has raised $127.5M in venture funding, with headquarters in San Francisco and Toronto. Learn more at https://ritual.co/.

About Georgian Partners

Georgian Partners is a thesis-driven growth equity firm investing in SaaS-based business software companies exploiting applied artificial intelligence, security first and conversational business. Founded by successful entrepreneurs and technology executives, Georgian Partners leverages our global software expertise to be able to directly impact the success of companies. For more information, visit www.georgianpartners.com.

Contacts
Sutherlandgold for Ritual
Mally Fox, 646-779-0218
ritual@sutherlandgold.com

Canadian private equity firm Yaletown Partners has held a first close of its emerging-growth technology fund at more than $100 million. As reported by PE Hub Canada in December, the firm is also increasing the target for Yaletown Innovation Growth Fund (IGF) to $200 million from $135 million. IGF’s initial close secured capital commitments from domestic and global institutional investors, including OPTrust, BDC Capital, Alberta Enterprise Corp, Kensington Venture Fund and BC Tech Fund, as well as family offices and wealthy individuals. IGF has already led or co-led financings of Finn.ai, ThoughtWire and Circle Cardiovascular Imaging.

Photo: Salil Munjal, managing partner of Yaletown Partners.

PRESS RELEASE

Yaletown Partners Announces Initial Closing of Innovation Growth Fund

Targets $200 million Total Fund Size

Vancouver, June 6, 2018 – Yaletown Partners, Canada’s leading emerging growth investment firm is pleased to announce that it has closed well over $100 million of its latest fund, the Innovation Growth Fund (“IGF”) targeting $200 million as total fund size and focused on emerging growth companies.

Emerging growth companies represent a unique investment opportunity.These companies are beyond the start-up phase, scaling up and going global. A recent report by the Advancing Innovation Roundtable, an initiative of the TMX and led by some of Canada’s leading institutional investors, concluded emerging growth companies face a shortage in financing estimated at $4 billion. With proven technology, revenues and commercialization already underway, emerging growth companies offer an attractive risk profile as they have advanced beyond the typical risks associated with start-up companies.

“We are pleased to have partnered with leading domestic and international investors in IGF,” said Salil Munjal, Managing Partner of Yaletown Partners. “With our expanded presence across Canada covering the country’s largest innovation ecosystems, our active approach and our access to high quality investments, we are well positioned to help entrepreneurs scale and become market leaders while generating attractive returns for our stakeholders.”

Investors in IGF include major Canadian and international institutional investors such as OPTrust, BDC Capital, Alberta Enterprise Corporation, Kensington Venture Fund and BC Tech Fund as well as family offices and high net worth individuals.

Hugh O’Reilly, President and CEO of OPTrust said, “Emerging growth companies tend to be focused on innovation and are quicker at adopting new technologies. Our work with them will help us learn new ways to better serve our members and provide valuable insights into global innovation trends. Canada, and Ontario especially, is a world leader when it comes to investing in start ups. We need to get better at scaling up our businesses. OPTrust is excited to be working with IGF to help drive Canada’s economic growth.”

Yaletown is investing throughout Canada with investment teams and offices across the country in Montreal, Toronto, Calgary and Vancouver.

Through IGF, Yaletown has already led or co-led financing rounds in three companies: Vancouver-based Finn.ai, that has developed an AI-powered virtual assistant built for banking and personal finance; Toronto-based Thoughtwire, an industrial internet-of-things platform that delivers intelligent automation providing real-time guidance to machines and staff to predict and resolve issues, ensure safety, and achieve energy efficiency; and Circle Cardiovascular Imaging Inc., a global innovator in cardiovascular imaging post-processing software with offices in both Calgary and Montreal.

IGF will invest in two main sectors – the Intelligent Industry sector, investing in businesses that incorporate new technology such as artificial intelligence into industrial processes; and in the Intelligent Enterprise sector, where computing platforms and applications increase worker productivity.

About Yaletown Partners
Yaletown is Canada’s leading emerging growth investment firm. Our investments enable accelerated growth in companies that enhance productivity for enterprise and industrial customers. Yaletown’s Innovation Growth Fund helps Canada’s most innovative entrepreneurs and their companies to scale and become market leaders. In 2017, Yaletown received the CVCA’s Venture Capital Deal of the Year award for its investment in BitStew, Canada’s largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal. For more information, please visit www.yaletown.com

For more information:
Mark Boutet (514)843-2316
mboutet@national.ca

IRYStec Software Inc, a Montréal-based perceptual display processing technology company, has closed a Series A2 financing. The undisclosed round was led by Canadian venture capital firm Whitecap Venture Partners. It was joined by BDC Capital, Skunkworks and angels investors, including Jean-François Grenon and Purple Angels, several of which invested in the company’s Series A in 2016. IRYStec, which launched in 2015, helps consumer device makers and automotive original equipment manufacturers solve challenging display issues. Led by CEO Simon Morris, the company will use the funds raised to scale its sales and engineering teams.

PRESS RELEASE

IRYStec Closes Series-A2 Financing Round

MONTREAL, June 06, 2018 (GLOBE NEWSWIRE) — IRYStec Software Inc., the world leader in perceptual display processing technology, announced today that it has successfully closed Series-A2 financing led by Whitecap Venture Partners. Other investors in this financing include BDC Capital, Skunkworks and prominent Canadian tech angel investors including Jean-Francois Grenon and Purple Angels. This financing will support scaling of sales and engineering to build on IRYStec’s first customer beach heads – smart phone and automotive.

“Every display will eventually be a “perceptual display” and the technology behind these displays will be invented and delivered by IRYStec, ”said Joe Catalfamo, Partner Whitecap Venture Partners. Joe added, “ We are impressed with IRYStec’s leadership team, strong patent position and the early adoption of IRYStec’s perceptual technology in the safety critical automotive market where displays are growing in size and number.”

“IRYStec is better positioned to win with Whitecap in our corner. We are looking forward to the venture experience of the Whitecap team in helping early stage companies scale.” commented Simon Morris, CEO of IRYStec.

About Whitecap Venture Partners

Whitecap Venture Partners is a $100-million Toronto based early-stage venture capital fund investing in high-growth companies across three verticals: Information and communications Technology (ICT), Med Tech and Food Tech. Their team of operators and investment professionals have partnered for over 25 years with entrepreneurs in verticals where they have deep domain expertise and can bring significant operational and strategic value to companies. www.whitecapvp.com.

About IRYStec Software Inc.

IRYStec Software Inc. is leading the development of perceptual display processing technology for display device manufacturers. Providing Perceptual Display Platform (PDP) embedded software solutions, IRYStec enables consumer device and automotive OEMs to significantly improve their display device viewing experience, perceived visibility, eye strain and power consumed. Based on understanding the science of the human eye, proprietary algorithms and physiological models, IRYStec replicates and emulates how the human eye sees. Adapting content to viewer attributes (age, gender,etc…) PDP dramatically improves readability across all ambient light conditions, while reducing eyestrain and reducing power consumption. Look for IRYStec’s first PDP software products, MOBILEvue and DRIVEvue, in vehicles and consumer devices in 2018.

Founded in 2015 and based in Montreal, Canada, IRYStec was a winner of the 2016 Silicon Valley Forum’s World Cup Tech Challenge, Fundica 2016 winner, TiEcon Canada 2017 winner. For more information visit www.irystec.com or contact Marketing Assistant, Jason Sellors jsellors@irystec.com.

Squiggle Park, a Halifax-based adaptive web-based learning app, has closed a seed-stage financing that brings its total funding so far to more than $1 million. The company’s investors include Heather Reisman, CEO of Indigo Books and Music, and John Montalbano, head of Royal Bank of Canada’s global asset management group. Founded in 2015 by CEO Leah Skerry and CMO Julia Rivard Dexter, Squiggle Park’s app provides bite-sized games designed by teachers, researchers and gamers to help children develop foundational reading skills. The funds raised will be used for product development and continued global growth.

A report by Entrevestor‘s Peter Moreira sheds additional light on Squiggle Park’s seed round.

Photo (left to right): CEO Leah Skerry and CMO Julia Rivard Dexter, founders of Squiggle Park.

PRESS RELEASE

Squiggle Park, an Adaptive Web-Based Learning App, Raises $1M+ in Funding.

Toronto, ON: Squiggle Park, an adaptive web-based learning app that children with zero knowledge of the English language can use to start learning to read, announced today that they have successfully raised $1M+ in funding.

It’s been an exciting year for Squiggle Park. For the children and teachers that have made Squiggle Park a success, this time of year signals the end of another school year. For Squiggle Park, June marks the end of a successful year of raising capital from some of Canada’s most notable business leaders and investors.

The company has raised $1,025,000 in funding to date with investors including Founder and Chief Executive Officer of Indigo Books and Music, Heather Reisman and John Montalbano, Head of Royal Bank of Canada’s Global Asset Management division. Squiggle Park also received business development funding from Atlantic Canada Opportunities Agency and Ontario Centre of Excellence and completed a friends and family round.

“I think Squiggle Park is a fantastic way to inspire kids about reading,” shared Heather Reisman. “I played with it with my two five-year-old grandchildren and then watched them become totally excited about “figuring out” how to read by playing with the app themselves. They have now been using it and they are indeed learning to read.”

Considered the most engaging literacy platform, Squiggle Park is made up of bite-sized games designed by teachers, researchers, and gamers to lead young learners down a path of mastery of their foundational reading skills. When children complete a Squiggle Park world, they also receive physical books and poems to continue their learning. Since January 2017, children have played over 70,375 hours of Squiggle Park. That’s more than eight years of educational content consumed!

“Our team has developed a breakthrough platform that makes it incredibly simple for children to accelerate their reading skills,” explained Squiggle Park Co-Founder Leah Skerry. “Our adaptive platform and educator analytics exemplify the continuing personalization of educational tools and the ease with which even children with no English knowledge can now start learning to read today.”

The funding will be used to invest in the growth of the company, including product development and international expansion. “Squiggle Park may have begun its journey in Nova Scotia, but it has very much gone global,” shared Squiggle Park Co-Founder Julia Rivard Dexter. Squiggle Park is currently used in over 6,000 schools around the world and as far as China and Australia. “We’re incredibly proud of such a reach and we are excited to grow that reach, and make an even bigger impact on bridging the gap between being literate and not.”

Squiggle Park is committed to attracting the best technologists and educators to the company and will also use the funding to invest in its technology, infrastructure and customer support tools.

To learn more about Squiggle Park, visit www.squigglepark.com.

About Squiggle Park
Squiggle Park, considered the most engaging literacy platform, is an adaptive web-based learning app that children with zero knowledge of the English language can use to start learning today. Children also receive physical books and poems once they master a Squiggle Park world.

Founded by Leah Skerry and Julia Rivard Dexter, Squiggle Park was created for children of all ages learning to read English, though most users are Preschool to Grade 2. Today, over 71,000 children have played in over 6,000 schools around the world and as far as Australia.

Squiggle Park Social: Facebook, Twitter, Pinterest and Blog

Interviews / Press Inquiries:
Crystal Richard
Crystal Richard & Company Inc.
crystal@crystalrichard.com
506-860-0956

Pinnacle Renewable Holdings Inc (TSX: PL), a Richmond, British Columbia-based industrial wood pellet maker and distributor, has launched a secondary offering of common shares. The sellers, which include ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, are expected to realize proceeds of about $50 million or $57.5 million if the greenshoe option is exercised in full. As a result, ONCAP, which made a majority investment in Pinnacle in 2011, will reduce its stake to about 33.1 percent, assuming no exercise of the greenshoe option. Pinnacle went public in February, raising $172 million.

PRESS RELEASE

Pinnacle Renewable Holdings Inc. Announces $50 Million Secondary Offering of Common Shares

VANCOUVER, B.C., June 06, 2018 (GLOBE NEWSWIRE) — Pinnacle Renewable Holdings Inc. (“Pinnacle”) announced today that ONCAP II L.P., ONCAP US (II) L.P., ONCAP (US) II-A L.P., ONEX Parallel Investment (ONCAP) L.P. and Biomass EI Ltd. (collectively the “ONCAP Entities”), Rob Swaan Holdings Inc. and Jim Swaan Holdings Inc. (collectively the “Selling Shareholders”) have entered into an agreement with Pinnacle and a syndicate of underwriters led by CIBC Capital Markets, RBC Capital Markets, Scotiabank and BMO Capital Markets (collectively the “Underwriters”), pursuant to which the Underwriters have agreed to purchase on a bought deal basis an aggregate of 3,640,000 common shares of Pinnacle held by the Selling Shareholders at an offering price of $13.75 per share (the “Offering Price”) for total gross proceeds to the Selling Shareholders of approximately $50 million (the “Offering”). Pinnacle will not receive any proceeds from the Offering.

The Underwriters have also been granted an over-allotment option (the “Over-Allotment Option”) by the Selling Shareholders to purchase up to an additional 546,000 common shares from the Selling Shareholders at the Offering Price for additional gross proceeds of approximately $7,507,500 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the Offering.

A preliminary short form prospectus relating to the Offering will be filed by no later than June 12, 2018 with Canadian securities regulatory authorities in each of the provinces and territories of Canada.

Upon completion of the Offering and assuming no exercise of the Over-Allotment Option, the ONCAP Entities will, directly or indirectly, own or control approximately 10,903,809 common shares, representing approximately 33.1% of the issued and outstanding common shares. Rob Swaan Holdings Inc. and Jim Swaan Holdings Inc. will own or control 732,288 and 732,288 Common shares, respectively, representing approximately 2.2% and 2.2% of the issued and outstanding Common shares.

The closing of the Offering is expected to occur on or about June 26, 2018, subject to customary closing conditions.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Pinnacle in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Pinnacle

Pinnacle is a rapidly growing industrial wood pellet manufacturer and distributor and the third largest producer in the world. Pinnacle produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by global utilities and large-scale power generators to produce renewable and reliable baseload power. Pinnacle is a trusted supplier to its customers, who require reliable, high quality fuel supply to maximize utilization of their facilities. Pinnacle takes pride in its industry leading safety practices. Pinnacle operates seven industrial wood pellet production facilities, a port terminal in Prince Rupert, B.C., and currently has a new production facility under construction in Smithers, B.C. Pinnacle has entered into long-term take-or-pay contracts with utilities in the U.K., Europe and Asia that represent 104% of its production capacity through 2021 and nearly 87% of its production capacity through 2026.

For further information: Investor Relations, Pinnacle Renewable Energy, Tel: 1-877-737-4344, Email: investors@pinnaclepellet.com, Web: www.pinnaclepellet.com

Canadian private equity firm Clairvest Group has sold its interest in MAG DS Corp (MAG Aerospace), a Fairfax, Virginia-based provider of operations, training and technical services and other specialty aviation enabling real-time situational awareness. No financial terms were disclosed for the deal, which saw MAG go to New Mountain Capital, a U.S. private equity firm. Clairvest, which acquired a minority stake in the company in 2013, said it realized cash proceeds equal to about US$110 million, representing 8.2 times invested capital. CEO Joe Fluet said Clairvest helped MAG grow “from a small, emerging company to a market leader in less than five years.”

PRESS RELEASE

Clairvest Completes Sale of Interest in MAG Aerospace

TORONTO, June 07, 2018 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX:CVG) (“Clairvest”) today announced that it and limited partnerships controlled by it completed the sale of their shares of MAG DS Corp. (“MAG Aerospace”). Clairvest partnered with MAG Aerospace through a minority investment in 2013.

MAG Aerospace is a leader in providing and enabling real-time situational awareness to help its customers to make the world smaller and safer. MAG Aerospace delivers full-spectrum ISR Services (operations, training, and technical services) and other specialty aviation to federal, international, civilian, and commercial customers around the world.

At closing, Clairvest and its limited partnerships realized cash proceeds equal to approximately US$110 million representing 8.2 times invested capital over the more than 5-year investment period.

Since Clairvest partnered with management of MAG Aerospace in 2013, MAG Aerospace has embarked upon a successful growth strategy that materially increased revenue from roughly US$20 million to over US$300 million today. During this time, MAG Aerospace completed four acquisitions, though the majority of the growth was the result of the organic growth strategy developed by MAG’s CEO, Joe Fluet, and his deep and capable management team.

“We are very proud of our accomplishments to date and are equally excited by our continued growth prospects,” commented Joe Fluet, CEO of MAG Aerospace. “Our partnership with Clairvest was a critical milestone for our company, and Ken Rotman and his team at Clairvest have been ideal partners during MAG’s most challenging years. Clairvest was with us as we grew from a small, emerging company to a market leader in less than five years, a feat we could not have achieved without their help,” added Mr. Fluet.

“The value realized in this transaction is a result of the creativity, focus and flawless execution of the MAG management team led by Joe Fluet. That growth will surely continue under the continued direction of Joe and his team as MAG advances to its next stage of development,” noted Ken Rotman, CEO of Clairvest.

The sale has a positive impact on Clairvest’s book value per share of approximately $1.65 versus the carrying value at December 31, 2017.

William Blair acted as financial advisor to MAG in this transaction.

About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.

About MAG Aerospace
MAG Aerospace, headquartered in Fairfax, Virginia, is a leader in providing and enabling real-time situational awareness to help its customers make the world smaller and safer. MAG delivers full spectrum ISR Services (operations, training, and technical services) and other specialty aviation to federal, international, civilian, and commercial customers around the world. MAG’s team of 1,000+ professionals operate 200+ manned and unmanned special mission aircraft ~100,000 flight hours annually on 6 continents in support of its customers’ missions. For more information on MAG Aerospace, please visit www.magaero.com.

Clairvest Contact Information

Maria Shkolnik
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
marias@clairvest.com

Toronto-based online financial planning company Planswell has raised an additional $7 million in financing, bringing its total funding so far to $13.8 million. The investors were not identified. Planswell launched nationally in January, closing a seed round backed by former senior financial executives and others. The proceeds of the latest deal will be used for technology development and expanding marketing efforts. Founded in 2015 and led by CEO Eric Arnold, Planswell helps build financial plans for users located across Canada. The company reports building more than 50,000 financial plans since its launch.

PRESS RELEASE

Planswell raises an additional $7 million after building more than 50,000 free financial plans

TORONTO, JUNE 7, 2018 – Planswell, Canada’s first online financial planning company, has raised an additional $7 million in funding, bringing the total funding to $13.8 million.

The funds will be used to continue developing the company’s innovative planning engine, to expand its marketing efforts nationally, and to assist more Canadians with achieving financial security.

“Most of our clients come to us from banks, financial advisors, and robo-advisors,” said Eric Arnold, CEO and co-founder of Planswell. “They’re usually on track to spend hundreds of thousands of dollars in excess fees and interest charges, and they almost never have a proper plan. We give them an excellent plan for free and access to mortgages, investments and insurance that can save them a ton of money. It’s rewarding to see the positive impact we’ve had on so many people.”

Since launching nationally in January 2018, Planswell has built more than 50,000 financial plans for Canadians across the country.

“It’s been amazing to make financial planning accessible to everyone,” said Arnold. “We’ve been able to help everyone from single people starting out in their careers, to families that are expanding, and couples who are approaching retirement.”

Planswell now has more than 50 employees on a mission to assist Canadians in sustaining their lifestyles through retirement, putting their kids through school, or something unexpected. The financial planning engine is the first of its kind and makes it easy to build your plan for free in about three minutes.

How it works
Build your free plan at www.planswell.com. You can then schedule a free walk-through with a PlanPro, who can fine-tune your plan and give you advice on how to save hundreds of thousands of dollars.

1. Build your plan
Answer 30-40 questions in three minutes to create your plan. The questions are easy
and can be answered off the top of your head.

2. Review your plan
You’ll see exactly what to do each month to grow your wealth, reduce your debt, and be
protected from financial surprises. Expert phone or chat support is available.

3. Implement your plan
You can take your plan away and implement it yourself, or ask us to assist. We’ll guide you
through each step and make it faster and cheaper than anywhere else.

About Planswell
Planswell uses patent-pending technology to create the most intelligent financial plans in the world, absolutely free. We enable people from all walks of life to align their investments, insurance and borrowing with their personal goals. Planswell is currently operating across Canada, excluding Quebec and the Territories (coming soon). To learn more, visit www.planswell.com.

Available for interviews
Eric Arnold, CEO

Lauren Arnold, PR Manager

647 869 1438; lauren@planswell.com

www.planswell.com

Novacap and Real Ventures are the 2018 recipients of the Canadian Venture Capital & Private Equity Association‘s (CVCA) Deal of the Year awards. Real Ventures won in the venture capital category for its 2017 sale of location-based marketing analytics and automation company SweetIQ to Gannett Co Inc. The exit generated a 66 percent IRR and a 5.6 x cash-on-cash multiple. Novacap won in the private equity category for its 2017 sale of drug discovery software provider Chemical Computing Group to Altaris Capital Partners. The exit generated a 48 percent IRR and a 7.6 x multiple on invested capital. Novacap and Real Ventures are both based in Montréal.

PRESS RELEASE

CVCA Announces 2018 Deal Of The Year And Ted Anderson Community Leadership Award Recipients

Novacap Management Incorporated and Real Ventures recognized for outstanding returns in PE and VC respectively; Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, recognized for leadership with the creation of The Upside Foundation Of Canada.

June 06, 2018

CALGARY, Alberta–(BUSINESS WIRE)–The Canadian Venture Capital & Private Equity Association (CVCA) announced winners of its annual Deal of the Year awards during its 2018 annual conference, Invest Canada ’18 in Calgary. The 2018 CVCA Awards are sponsored by Alberta Enterprise Corporation.

Montreal-headquartered Real Ventures won in the venture capital category for its investment in Montreal-based SweetIQ, while Montreal-based Novacap Management Incorporated won in the private equity category for its investment in Montreal-based Chemical Computing Group. Both deals were selected for outstanding cash realization value, and multiple of invested capital returned.

The CVCA’s Deal of the Year awards are presented annually and promote, highlight and celebrate the achievements of CVCA members who have had outstanding investment successes. The selection process recognizes CVCA members with the most significant investment return realized via an exit from a Canadian portfolio company during the 2017 calendar year.

“Canadian private capital investors are playing an increasingly critical role in our economy,” said Mike Woollatt, Chief Executive Officer, CVCA. “It’s more important than ever that as the industry association we spotlight the accomplishments of our members through our annual awards program.”

The CVCA also announced the winner of the 2018 Ted Anderson Community Leadership Award which honours an individual CVCA member for community involvement. The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, as this year’s recipient.

In addition to supporting Canada’s economic productivity, the Ted Anderson Community Leadership Award recipient also fosters strong corporate social responsibility as a foundation for building solid vibrant communities. The award recognizes the commitment of time and effort to an organization or cause over several years.

2018 Venture Capital Deal of The Year Award

Real Ventures, a Montreal-based venture capital firm that backs world-class entrepreneurs building game-changing companies, originally invested in Montreal-based SweetIQ, a company that delivers industry leading location-based marketing analytics and automation solutions, in October 2011.

SweetIQ co-founders Mohannad El-Barachi and Michael Mire led the company to four straight years of +400% growth and an increase of over 100 employees until it was acquired in April 2017 by ReachLocal, a USA TODAY NETWORK company and a part of Gannett Co., Inc.

The exit generated an internal rate of return of 66 % and provided a 5.6X cash on cash multiple.

“An outcome like this can only be achieved through teamwork,” said Real Ventures Partner, John Stokes. “The founders were always willing to wear whatever hat was needed to move the company forward, the management team put in the extra effort whenever it was required, and our investment partners, especially Plaza Ventures and Desjardins, also played important roles in supporting the company throughout the journey.”

2018 Private Equity Deal of The Year Award

Novacap Management Incorporated, a Montreal-based leading Canadian private equity firm with $2.3B in assets under management, initially acquired Montreal-based Chemical Computing Group (CCG), a software company dedicated to the life sciences, delivering unique and customized software applications for drug discovery to pharmaceutical, biotech and academic researchers, in August 2011.

With the help of Novacap’s network and experience in recruiting key executives, CCG was able to hire new talented executives, solidify an already strong management team and, approached selected acquisition targets with niche products for highly specialized applications.

On April 28, 2017, Novacap sold CCG to Altaris Capital Partners. The exit generated an internal rate of return of 48% and provided a 7.6x multiple on invested capital.

“It has been a real pleasure partnering with Paul Labute, President, CEO, CCG, and his team,” said Pascal Tremblay, President and Managing Partner, Novacap Management Incorporated. “We are really proud that our strategic teamwork is recognized.”

2018 Ted Anderson Community Leadership Award

The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation of Canada, as the recipient of the 2018 Ted Anderson Community Leadership Award for his leadership in the creation of the foundation. The Upside Foundation of Canada a charity, that enables early-stage, high-growth companies to support their community by donating stock options or warrants for the charity of their choice.

Under Rob Antoniades’ stewardship over six years the Upside Foundation has grown to over 200 companies who have pledged to give back through the platform. The Upside Foundation is recognized by venture capitalists and CEOs across the tech industry as an impactful way for startups to give back.

Three Upside Foundation member companies have had exits to-date, resulting in donations to charities in their communities. With many more donations to come, the Upside Foundation is driving a conversation about social responsibility in tech and making it easy for our community to share its wealth with Canadians in need. Ultimately, when a single company wins, the entire country wins alongside them.

Any venture capitalists or startups looking to get involved can email info@upsidefoundation.ca to learn about how they can join the movement.

“I am thrilled and gratified to receive this award on behalf of the Upside Foundation,” said Rob Antoniades. “Upside is the only charity founded by VCs to serve the needs of our community by introducing the concept of CSR to our startups, entrepreneurs and portfolio companies. The support of the VC and PE community is appreciated and foundational for Upside’s success and spread of this new best practice for entrepreneurs. We look forward to working with VCs and PEs across the country to enable the community to make a great impact for Canada.”

2018 CVCA Award Media Assets

2018 CVCA Venture Capital Deal Of The Year Award Video
2018 CVCA Private Equity Deal Of The Year Award Video
2018 Ted Anderson Community Leadership Award Video

About the CVCA
The CVCA is the voice of Canada’s venture capital and private equity industry. We are focused on improving the private capital ecosystem by broadening industry awareness and providing market research, networking, and professional development opportunities. We also advocate on behalf of the industry to ensure sound public policy that encourages a favourable investment environment. The CVCA works alongside its members, who represent the vast majority of private capital firms in Canada, to improve the industry and drive innovation and growth. Please visit: http://www.cvca.ca.

Contacts

CVCA
For more information or to arrange an interview, please contact:
Jon Jackson
Manager, Content and Media
Direct: 416-487-0519, ext. 201
Email: jjackson@cvca.ca

Robert Antoniades, a general partner at Canadian venture capital firm Information Venture Partners, is the 2018 recipient of the Canadian Venture Capital & Private Equity Association‘s (CVCA) Ted Anderson Community Leadership award. Antoniades won the award for his role in co-founding and building the Upside Foundation of Canada, an organization that encourages high-growth companies in Canada to donate stock options or warrants to a charity of their choice. Since its launch in 2013, Upside has signed on more than 200 companies pledging to give back through the platform. PE Hub Canada interviewed Antoniades about Upside’s mission in 2015.

PRESS RELEASE

CVCA Announces 2018 Deal Of The Year And Ted Anderson Community Leadership Award Recipients

Novacap Management Incorporated and Real Ventures recognized for outstanding returns in PE and VC respectively; Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, recognized for leadership with the creation of The Upside Foundation Of Canada.

June 06, 2018

CALGARY, Alberta–(BUSINESS WIRE)–The Canadian Venture Capital & Private Equity Association (CVCA) announced winners of its annual Deal of the Year awards during its 2018 annual conference, Invest Canada ’18 in Calgary. The 2018 CVCA Awards are sponsored by Alberta Enterprise Corporation.

Montreal-headquartered Real Ventures won in the venture capital category for its investment in Montreal-based SweetIQ, while Montreal-based Novacap Management Incorporated won in the private equity category for its investment in Montreal-based Chemical Computing Group. Both deals were selected for outstanding cash realization value, and multiple of invested capital returned.

The CVCA’s Deal of the Year awards are presented annually and promote, highlight and celebrate the achievements of CVCA members who have had outstanding investment successes. The selection process recognizes CVCA members with the most significant investment return realized via an exit from a Canadian portfolio company during the 2017 calendar year.

“Canadian private capital investors are playing an increasingly critical role in our economy,” said Mike Woollatt, Chief Executive Officer, CVCA. “It’s more important than ever that as the industry association we spotlight the accomplishments of our members through our annual awards program.”

The CVCA also announced the winner of the 2018 Ted Anderson Community Leadership Award which honours an individual CVCA member for community involvement. The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, as this year’s recipient.

In addition to supporting Canada’s economic productivity, the Ted Anderson Community Leadership Award recipient also fosters strong corporate social responsibility as a foundation for building solid vibrant communities. The award recognizes the commitment of time and effort to an organization or cause over several years.

2018 Venture Capital Deal of The Year Award

Real Ventures, a Montreal-based venture capital firm that backs world-class entrepreneurs building game-changing companies, originally invested in Montreal-based SweetIQ, a company that delivers industry leading location-based marketing analytics and automation solutions, in October 2011.

SweetIQ co-founders Mohannad El-Barachi and Michael Mire led the company to four straight years of +400% growth and an increase of over 100 employees until it was acquired in April 2017 by ReachLocal, a USA TODAY NETWORK company and a part of Gannett Co., Inc.

The exit generated an internal rate of return of 66 % and provided a 5.6X cash on cash multiple.

“An outcome like this can only be achieved through teamwork,” said Real Ventures Partner, John Stokes. “The founders were always willing to wear whatever hat was needed to move the company forward, the management team put in the extra effort whenever it was required, and our investment partners, especially Plaza Ventures and Desjardins, also played important roles in supporting the company throughout the journey.”

2018 Private Equity Deal of The Year Award

Novacap Management Incorporated, a Montreal-based leading Canadian private equity firm with $2.3B in assets under management, initially acquired Montreal-based Chemical Computing Group (CCG), a software company dedicated to the life sciences, delivering unique and customized software applications for drug discovery to pharmaceutical, biotech and academic researchers, in August 2011.

With the help of Novacap’s network and experience in recruiting key executives, CCG was able to hire new talented executives, solidify an already strong management team and, approached selected acquisition targets with niche products for highly specialized applications.

On April 28, 2017, Novacap sold CCG to Altaris Capital Partners. The exit generated an internal rate of return of 48% and provided a 7.6x multiple on invested capital.

“It has been a real pleasure partnering with Paul Labute, President, CEO, CCG, and his team,” said Pascal Tremblay, President and Managing Partner, Novacap Management Incorporated. “We are really proud that our strategic teamwork is recognized.”

2018 Ted Anderson Community Leadership Award

The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation of Canada, as the recipient of the 2018 Ted Anderson Community Leadership Award for his leadership in the creation of the foundation. The Upside Foundation of Canada a charity that enables early-stage, high-growth companies to support their community by donating stock options or warrants for the charity of their choice.

Under Rob Antoniades’ stewardship over six years the Upside Foundation has grown to over 200 companies who have pledged to give back through the platform. The Upside Foundation is recognized by venture capitalists and CEOs across the tech industry as an impactful way for startups to give back.

Three Upside Foundation member companies have had exits to-date, resulting in donations to charities in their communities. With many more donations to come, the Upside Foundation is driving a conversation about social responsibility in tech and making it easy for our community to share its wealth with Canadians in need. Ultimately, when a single company wins, the entire country wins alongside them.

Any venture capitalists or startups looking to get involved can email info@upsidefoundation.ca to learn about how they can join the movement.

“I am thrilled and gratified to receive this award on behalf of the Upside Foundation,” said Rob Antoniades. “Upside is the only charity founded by VCs to serve the needs of our community by introducing the concept of CSR to our startups, entrepreneurs and portfolio companies. The support of the VC and PE community is appreciated and foundational for Upside’s success and spread of this new best practice for entrepreneurs. We look forward to working with VCs and PEs across the country to enable the community to make a great impact for Canada.”

2018 CVCA Award Media Assets

2018 CVCA Venture Capital Deal Of The Year Award Video
2018 CVCA Private Equity Deal Of The Year Award Video
2018 Ted Anderson Community Leadership Award Video

About the CVCA
The CVCA is the voice of Canada’s venture capital and private equity industry. We are focused on improving the private capital ecosystem by broadening industry awareness and providing market research, networking, and professional development opportunities. We also advocate on behalf of the industry to ensure sound public policy that encourages a favourable investment environment. The CVCA works alongside its members, who represent the vast majority of private capital firms in Canada, to improve the industry and drive innovation and growth. Please visit: http://www.cvca.ca.

Contacts

CVCA
For more information or to arrange an interview, please contact:
Jon Jackson
Manager, Content and Media
Direct: 416-487-0519, ext. 201
Email: jjackson@cvca.ca

Australia’s IFM Investors and British Columbia Investment Management Corp (BCI) have agreed to invest in GCT Global Container Terminals Inc (GCT), a Vancouver-based operator of four marine container terminals in Canada and the United States. No financial terms were disclosed for the deal, which will see IFM and BCI respectively hold 37.5 percent and 25 percent interests. They join existing GTI backer Ontario Teachers’ Pension Plan, which will continue to hold a 37.5 percent interest. Founded in 2007, GTI is led by President and CEO Doron Grosman. In 2016, Reuters reported Ontario Teachers’ was exploring potential deals, including the sale of a significant equity stake.

PRESS RELEASE

IFM Investors and BCI to join Ontario Teachers’ as equity partners in GCT Global Container Terminals Inc.

June 07, 2018

VANCOUVER, CANADA — Ontario Teachers’ Pension Plan (“Ontario Teachers”), IFM Investors (“IFM”) and British Columbia Investment Management Corporation (“BCI”) are pleased to announce that they have entered into a transaction whereby IFM and BCI will each join as equity partners in GCT Global Container Terminals Inc. (“GCT”), a leading container terminal operator in North America. Ontario Teachers’ will continue to hold 37.5% of GCT, with IFM acquiring a 37.5% holding and BCI acquiring 25%. The transaction is subject to customary and required regulatory approvals and consents.

Headquartered in Vancouver, GCT operates four Green Marine certified terminals in two principal North American ports. Through GCT USA on the East Coast, the company operates two award-winning facilities: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC. Visit globalterminals.com or follow @BigShipReady to find out more about GCT.

About IFM Investors
IFM Investors is a global institutional funds manager with US$81 billion under its management as of March 31, 2018. Established more than 20 years ago and owned by 27 Australian pension funds, IFM Investors’ interests are deeply aligned with those of its investors. Investment teams in Australia, Europe and North America manage institutional strategies across debt investments, infrastructure, listed equities and private equity. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in eight cities: Melbourne, Sydney, New York, London, Berlin, Tokyo, Hong Kong, and Seoul. For more information, visit ifminvestors.com.

About BCI
With $135.5 billion of managed net assets, British Columbia Investment Management (BCI) is one of Canada’s largest institutional investors within the global capital markets. Based in Victoria, British Columbia, BCI is a long-term investor that invests in all major asset classes including infrastructure and other strategic investments. BCI’s clients include public sector pension plans, public trusts, and insurance funds.

BCI’s infrastructure program, valued at over $11 billion as at December 31, 2016, includes a portfolio of regulated companies in the energy generation, transmission/distribution, water and wastewater sectors, as well as transportation. These companies operate in stable and mature regulatory environments, provide opportunities for future capital investments, and have the potential to generate stable returns and cash yields for our clients. The program is diversified across North America, Asia, Australia, Europe and the emerging markets.

For more information, visit bci.ca.

About Ontario Teachers’
The Ontario Teachers’ Pension Plan (Ontario Teachers’) is Canada’s largest single-profession pension plan, with $189.5 billion in net assets at December 31, 2017. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an average annualized rate of return of 9.9% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 323,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.

For More Information:

IFM: Molly Ahearn
(IFM Media Consultant)
Prosek Partners
T: +1 212 279 3115
mahearn@prosek.com

BCI:
Gwen-Ann Chittenden
Director, Communication & Government Relations
T:1-778-410-7310
communication@bci.ca

Ontario Teachers’:
Pav Jordan
Senior Manager, Investment Communications
T: 416-228-6862
Pav_Jordan@otpp.com