Desjardins Capital and Siparex Group, a French private equity firm, have launched their previously announced Transatlantic partnership, raising an initial $120 million for a jointly managed fund. Bpifrance, Capital régional et coopératif Desjardins (CRCD) and Export Development Canada (EDC) have signed on as sponsors. The Transatlantic Fund will invest in French and Québec small and mid-sized businesses, facilitating North American opportunities for the former and European opportunities for the latter. Portfolio companies will be able to tap into support systems and networks on both sides of the Atlantic.

PRESS RELEASE

Desjardins Capital and Export Development Canada (EDC) partner with Siparex Group and Bpifrance to launch the Transatlantic Fund

New C$120 million (75 million euros) fund to finance the development of businesses in Europe and North America

OTTAWA and PARIS, June 6, 2018 /CNW Telbec/ – Building on the strategic partnership announced in the fall of 2017, Siparex Group and Desjardins Capital are launching a transatlantic fund with the support of key sponsors, (in France) and Capital régional et coopératif Desjardins (CRCD) and Export Development Canada (both in Canada).

The fund’s launch was announced at the French embassy in Ottawa as part of French President Emmanuel Macron’s visit to Canada. Jean-Baptiste Lemoyne, Minister of State attached to France’s Minister for Europe and Foreign Affairs; Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development; Kareen Rispal, French Ambassador to Canada; and Isabelle Hudon, Canadian Ambassador to France, were on hand for the announcement, which marked the closing of the Transatlantic Fund’s first round of financing, in the amount of C$120 million (75 million euros).

The fund will be co-managed by Siparex and Desjardins Capital and used for joint investments in French and Quebec small and medium-sized enterprises (SMEs). The strategy is backed by a dedicated, bicultural team, with experienced professionals in both France and Quebec. Siparex already has a representative in Quebec, and a Desjardins Capital representative will be based in France. The partners will use this approach to help French businesses penetrate the North American market—starting in Quebec—and to help Quebec businesses move into the European market—starting in France. The selected SMEs will be able to tap into overseas growth opportunities and support systems on both sides of the Atlantic, with access to the business networks that Siparex and Desjardins Capital have built over the past 40 years in their respective markets. They will also have access to funding and active partnerships.

Current economic conditions are particularly favourable to the creation of the fund, considering that the free trade agreement between Canada and Europe has been provisionally in force since September 21, 2017.

“Desjardins is proud to support the international expansion of Quebec SMEs,” says Guy Cormier, President and CEO of Desjardins Group. “We created this new fund to help Quebec companies develop and grow in the European market, which has an estimated half a billion consumers. We’re also breaking new ground with EDC—this is the first time Desjardins Group has partnered with a federal Crown corporation.”

“Across Quebec, the leaders of Desjardins Capital’s partner companies have been telling us the same thing: they see international expansion as a priority for their future development,” explains Luc Ménard, Chief Operating Officer of Desjardins Capital, the manager of the Transatlantic Fund. “That’s why we decided to create this innovative, unique fund that gives partner companies access to solid backing and renowned expertise on both sides of the Atlantic.”

“The Transatlantic Fund is an out-of-the-box way of helping more Canadian companies leverage the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), boosting Canada’s business with the world’s second largest economy and encouraging trade diversification,” said Benoit Daignault, President and CEO, EDC. “Export Development Canada is proud to be investing alongside like-minded partners in France and Canada to strengthen business ties between the two continents.”

Nicolas Dufourcq, General Manager of Bpifrance, adds “Helping French companies develop internationally is a strategic priority for Bpifrance. Our sponsorship of the Transatlantic Fund underscores our commitment to encouraging and supporting the growth of French companies in the vast North American market. This bilateral fund backed by two big names and their respective networks in Europe and North America will open new doors for SMEs.”

Bertrand Rambaud, President of Siparex Group, the manager of the Transatlantic Fund in Europe, says “At Siparex, we’ve been focusing on helping businesses grow outside our borders for years. The new Transatlantic Fund fits into our philosophy of joint development and complements the support services we offer businesses with strong growth potential in the North American market. We’re proud to launch this fund with Bpifrance, Desjardins Capital, EDC and CRCD.”

About Desjardins Capital

Nearly 45 years strong, Desjardins Capital (previously Desjardins Venture Capital) has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of over C$2 billion, Desjardins Capital helps contribute to the longevity of more than 450 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to create and maintain more than 67,000 jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. Desjardins Capital manages Capital régional et coopératif Desjardins (CRCD), a public company with more than 105,000 shareholders. For more information, visit Desjardins Capital or our LinkedIn page.

About Export Development Canada

EDC helps Canadian companies go, grow, and succeed in their international business. As a financial Crown corporation, EDC provides financing, insurance, bonding, trade knowledge, and matchmaking connections to help Canadian companies sell and invest abroad. EDC can also provide financial solutions to foreign buyers to facilitate and grow purchases from Canadian companies.

About Bpifrance

Bpifrance’s equity investments are handled by Bpifrance Investissement. Bpifrance provides loans, guarantees and equity investments to finance businesses throughout every stage of their development. Bpifrance helps companies innovate and expand internationally, and it also provides a range of export insurance solutions. Entrepreneurs have access to advisory services, training, networking opportunities and a fast-track program for start-ups, PMEs and intermediate-sized companies. With its 48 regional offices, Bpifrance provides an effective, unique, local support system to help entrepreneurs overcome challenges. For more information: www.bpifrance.com – presse.bpifrance.fr –
Follow Bpifrance on Twitter: @Bpifrance – @BpifrancePresse

About Siparex

Siparex Group, founded 40 years ago, is France’s leading independent private equity investor specializing in midmarket and intermediate-sized companies. The Group has nearly 2 billion euros in assets under management in Midmarket (midmarket and intermediate-sized companies), Mezzanine, and Small Caps (intermediate-sized companies), as well as in Innovation finance under the XAnge brand (start-ups in the digital, deep tech, and societal impact sectors). Siparex serves companies nationwide from its offices in Paris, Lyon, Nantes, Besançon, Lille, Strasbourg, Dijon and Toulouse, it has a presence in Madrid, Milan and Munich, and it has developed partnerships in Canada and North Africa (Tunisia, Morocco and Egypt).

Siparex and Desjardins Group have been working together for more than 30 years. Desjardins has been a loyal purchaser of Siparex funds since the early 1990s, and a number of Desjardins representatives have served as directors of Siparex Group’s holding company.

For further information: (for journalists only): Richard Lacasse, Spokesperson, Desjardins Group, +1-418-835-8444, ext. 5563163 or + 1-866-835-8444, ext. 5563163 (Canada only), media@desjardins.com; Simon Forsyth, Senior Advisor, External Communications, EDC, +1-613-598-3852, SiForsyth@edc.ca; Nathalie Police, Institutional and Media Relations, Bpifrance, +33 1 1 41 79 95 26, nathalie.police@bpifrance.fr; Priscille Clément, Communications Manager, Siparex Group, +33 1 53 93 04 27 or (mobile) + 33 6 14 80 75 22, p.clement@siparex.com or Sibylle Descamps (Agence Fargo), sdescamps@fargo.agency, +33 6 82 09 70 07

Dentalcorp Health Services ULC, a Toronto-based network of general and specialist dental clinics, has closed a debt financing of nearly $1.2 billion (US$908 million). The company said it will use the deal’s proceeds to refinance debt facilities and support its growth agenda. Dentalcorp last month raised a significant, undisclosed investment from L Catterton, a U.S. consumer private equity firm. Imperial Capital Group, a Canadian private equity firm, and OPTrust Private Markets Group, which have together backed the company since 2014, continue to hold stakes.

PRESS RELEASE

dentalcorp Completes US $908 Million Debt Financing

TORONTO, June 7, 2018 /PRNewswire/ – Dentalcorp Health Services ULC (“dentalcorp” or the “Company”), the largest network of general and specialist dental clinics in Canada, is pleased to announce today the completion of a US$908 million Debt Financing (the “Financing”).

Proceeds from the Financing will be used to refinance the Company’s existing debt facilities and support its growth agenda. The Financing follows the significant strategic investment made by L Catterton in April.

Jefferies Finance LLC acted as Administrative and Collateral Agent, and together with Canadian Imperial Bank of Commerce and The Toronto-Dominion Bank as Joint Lead Arrangers and Bookrunners.

About dentalcorp
dentalcorp is focused on acquiring and partnering with leading, growth-oriented general and specialist dental clinics across Canada. Our unique value proposition allows our dentist Partners to retain their clinical autonomy and professional independence while we inspire them to achieve ambitious personal and professional growth. Our unprecedented strategic insights and expertise place our Partners at the forefront of delivering optimal patient care.

To learn more visit dentalcorp.ca.

Tricor Pacific Founders Capital has become Founders Group of Food Companies as the Vancouver firm plans to take its North American food-sector strategy to the next level.

Launched in 2014 by a group of senior private equity and industry pros, Founders has spent the past three-plus years investing its own capital in a range of businesses focused on specialty seafood and meats, prepared foods, and edible gifts and confections.

In all, the firm acquired 10 Canadian and U.S. companies, including platforms Presteve Foods, Ganache Brands, Freshstone Brands and Armand Agra. Together they form a portfolio that generates more than $315 million in revenue.

For Founders, the rebranding marks a milestone in its progress that includes creating a portfolio of “threshold size,” Partner Derek Senft told PE Hub Canada.

The firm is now looking to expand its horizons. Senft says the rebranding will aid this by emphasizing Founders’ family of mature, cash-flow-producing food companies and the long-term domain strategy that is helping them grow.

That strategy is enabled by a larger organization. Since 2014, Founders has tripled its staff complement to 12, divided into two teams focused on deal origination and operations.

The operations team is responsible for portfolio support. In large part this means helping autonomously managed portfolio companies, each in its own distinct food segment, tap into Founders’ common pool of resources and know-how.

Founders’ companies share governance and stewardship practices, business information systems, and tools and processes. Senft says the result is “decentralized but integrated food companies,” which gain new capabilities for pursuing their goals.

Founders’ strategy relies on the experience of its four founding partners. They include Richard Harris, dubbed Founders’ “secret weapon” because of his prior career as CEO of Golden Boy Foods, a private-label food manufacturer, and as an executive at Coca-Cola .

The others are Rod Senft and Trevor Johnstone, co-founders of Tricor Pacific Capital, which acquired Golden Boy in 2007 and sold it in 2014 to food giant Post Cereals for $323 million. Derek, Rod’s son, was previously a vice president at Pender West Capital Partners.

The next three years

Founders will continue to back the organic growth of its existing food companies, mostly through geographic expansion, product extensions and channel penetration, Senft said. It will also support M&A-led growth, particularly for companies in fragmented spaces.

The firm will also explore fresh opportunities in the North American food sector.

Founders aims to add three platforms in new food segments by 2021, Senft said. It is considering a number of areas of potential interest, such as ethnic foods, snack foods, baked goods, and sauces, marinades, dressings and condiments.

The scope of dealmaking will continue as before. The firm will target established food businesses with recurring Ebitda of $3 million to $10 million, mostly in Canada and the U.S. Midwest and West. Acquisitions will typically involve stakes of 75 percent to 100 percent.

Founders sometimes partners with existing owners. This was the case in its most recent deal, the September 2017 acquisition of Armand Agra, a meat and seafood processor and distributor, from Nevada’s Flocchini family.

Significantly, Founders expects to hold assets indefinitely. Food companies are “looking for a strategic and value-adding partner committed to the long haul,” Senft said.

Tricor Pacific Capital three years ago rebranded its fifth fund as Parallel49 Equity, a new PE firm led by former Tricor investment pros. The founders, including Rod Senft and Johnstone, sit on Parallel49’s investment committee.

Rod and Derek Senft are directors of Pender West, a family office.

Canadian alternative assets investor Kensington Capital Partners has completed a US$85 million recapitalization of Kenona Industries LLC, a Grand Rapids, Michigan high-volume precision machining business. The deal was done by the Kensington Private Equity Fund in partnership with management and co-investors. Founded in 1988, Kenona serves the automotive industry. Its products were utilized in over 45 2017 automobile nameplates, and its components are in more than 6 million of the 17 million U.S. vehicles produced annually. Kensington Senior Vice President Martin Kent said his firm will work with management to continue Kenona’s growth.

PRESS RELEASE

Kensington Capital Leads $85 million Recapitalization of Kenona Industries LLC

Kensington Capital Partners Limited (“Kensington”) is pleased to announce that the Kensington Private Equity Fund has completed an $85 million recapitalization of Kenona Industries LLC (“Kenona”) in conjunction with management and co-investors.

Kenona, located in Grand Rapids, Michigan, is a leading high-volume precision machining business serving the automotive industry. Kenona has developed a reputation as a leader in the value-added precision machining business where vertical integration of design and engineering, tool manufacturing, machining and testing has led Kenona to be the ‘go-to’ partner for customers requiring complex machined parts.

“We are very pleased to partner with Kensington. Our team is impressed with their knowledge and expertise, and we feel Kensington’s core values and culture are aligned with ours. Our team is excited about the next chapter in our company’s growth story,” said Nathaniel Rich, CEO of Kenona.

“We are impressed with the strong management team at Kenona and are excited by the growth prospects of the company,” stated Martin Kent, Senior Vice President at Kensington. “The company has a strong culture of innovation and operational excellence. Kenona is well-positioned in the marketplace, with excellent customer relationships. We are looking forward to working with the management team to continue to grow the business.“

The Kensington Private Equity Fund offers individual investors a diversified portfolio of world-class private equity investments, including hard-to-access private equity funds and direct investments in private companies.

Equity Fund invests across a breadth of industries primarily in the U.S. and Canada. To learn more, visit us at http://www.kcpl.ca.

Contact info for journalists
Kensington Capital Partners Limited
Rui Hu
Marketing Co-ordinator
Phone: 416.362.2826
Email: rhu@kcpl.ca
Tweet us @KensingtonFunds

About Kenona Industries LLC
Kenona Industries LLC, headquartered in Grand Rapids, Michigan, supplies leading automotive Tier 1 suppliers with a lean approach to high-volume machining of iron and other metals. The Company excels in automated high-volume precision machining, providing components to the automotive industry’s leading manufacturers in high-growth product categories. Kenona’s products were utilized in over 45 different 2017 automobile nameplates, and the Company’s components are in over 6 million of the 17 million U.S. vehicles produced annually. Further information is available at https://www.kenona.com.

About Kensington Kensington is a leading independent Canadian investor in alternative assets. Founded in 1996, and with over $1.3 billion invested in private equity, venture capital, and alternative assets. Kensington’s active management approach and relationship-based business has generated top quartile returns for investors. For more information about Kensington, please visit http://www.kcpl.ca.

Flexiti Financial, a Toronto-based point-of-sale financing and payment technology company, has acquired the Canadian private label credit card portfolio of TD Financing Services, an affiliate of TD Bank Financial Group. The portfolio is valued at about $250 million. The deal adds a million new credit card customers and 900 new merchant locations to Flexiti’s client base. Globalive Capital, the investment firm of Anthony Lacavera, invested $50 million as part of the acquisition’s financing and acquired control of the company as a result. Flexiti, founded in 2013 by CEO Peter Kalen, also raised $350 million in credit facilities led by Credit Suisse AG to support the buy and future growth.

PRESS RELEASE

Globalive Capital leads financing for a $250 million acquisition of TD Financing Services’ Canadian Private Label Credit Card Portfolio and acquires control of Flexiti Financial, a leading fintech company

TORONTO, June 7, 2018 /CNW/ – Flexiti Financial, a leading fintech provider of point-of-sale (POS) financing and payment technology today announced an approximate $250 million acquisition of TD Financing Services’ Canadian private label credit card portfolio.

This transformative transaction adds a million new credit card customers and 900 new merchant locations currently offering TD’s financing services to Flexiti’s client base.

Globalive Capital is a founding investor in Flexiti and its follow-on investment demonstrates a commitment to accelerating the fintech company’s growth and innovation in the alternative lending space. The transaction is financed by $350 million in credit facilities led by Credit Suisse AG, Cayman Islands Branch, and a syndicate of mezzanine lenders.

“Businesses are looking for alternative financing options tailored to their customers’ lifestyles or needs, and Flexiti is uniquely positioned to capitalize on this growing market trend,” said Anthony Lacavera, Founder and Chairman of Globalive Capital. “This investment aligns with Globalive Capital’s core principle of finding companies and entrepreneurs that are breaking down barriers and challenging the status quo by providing them with the resources they need to accelerate growth.”

“Globalive Capital’s longstanding involvement and significant investment in Flexiti demonstrates a clear belief that we have the vision and fundamentals in place to continue to grow as a leader in the consumer lending space in Canada,” said Peter Kalen, Founder and CEO of Flexiti. “This acquisition of TD Financing Services’ private label credit card portfolio represents an important milestone for our company and the consumer lending space in Canada. It instantly positions us as one of the largest consumer lenders with a cardholder base of over one million Canadians.”

Anthony Lacavera’s latest venture, Globalive Technology, has entered into a joint venture with Flexiti to build blockchain and artificial intelligence technology to be integrated with Flexiti’s operations.

About Globalive Capital
Globalive Capital is the investment company of Anthony Lacavera and his team including Brice Scheschuk, Simon Lockie and David Roff. The partners have over 100 years of operating and investing experience and have founded or co-founded and operated 14 companies including WIND Mobile which was sold to Shaw Communications for $1.6 billion. Globalive Capital invests principal capital in multiple asset classes including private equity, real estate and venture. The company has made over 100 investments and is well-known as a strategic, entrepreneur-friendly investor. The company’s latest initiative, Globalive Technology, is focused on building blockchain and machine intelligence technologies in partnership with businesses in numerous target verticals. For more information, visit www.globalive.com and www.globalivetech.com.

About Flexiti
Flexiti has reimagined point-of-sale (POS) consumer financing to drive sales for retailers in-store and online, becoming one of Canada’s leading private label credit card issuers. Through an award-winning platform, we deliver a POS financing experience across any device that is customer-centric, simple and intuitive. Without the need to integrate in to existing POS systems, retail partners can easily offer the same fast and paperless financing solution across all retail locations and sales channels to increase revenue and build loyalty through repeat purchases. With high approval rates, innovative products and services, flexible promotional offers and a partnership-first approach, Flexiti is helping people improve their lives through better financing. For more information, visit www.flexiti.com.

For further information: For press and media inquiries please contact Tanya Sardana, Communications Officer, Globalive Technology. media@globalivetech.com

Australia’s IFM Investors and British Columbia Investment Management Corp have agreed to invest in GCT Global Container Terminals Inc, 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

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.

Laval, Québec-based robotics automation startup Omnirobotic has secured $1 million in a seed-stage financing. The round was led by Canadian artificial intelligence solutions company Element AI and joined by Real Ventures, Alexandre Taillefer and Genik. Founded in 2016 by CEO Francois Simard and CTO Laurier Roy, Omnirobotic helps mass customization manufacturers robotize their operations and address personnel shortages. It said the proceeds of the seed round will allow the company to demonstrate its first product, OmniPainter, an autonomous  painting robot targeted to the painting industry, and develop additional industrial applications.

PRESS RELEASE

Industrial Robotics startup Omnirobotic secures $1M from Element AI and renowned investors

Seed funding will help Omnirobotic commercialize the first fully autonomous industrial painting robots for manufacturers.

Laval, QC (June 7th, 2018) – Omnirobotic, a robotics automation startup, announced today that it has closed a seed round of $1 million CAD to commercialize the Omni Painter, a painting robot that can see, plan, and autonomously paint any product that hangs on an overhead conveyor. Element AI led the round with participation from Real Ventures, entrepreneur and investor, Alexandre Taillefer, and automation leader, Genik.

This funding will enable Omnirobotic to demonstrate their technology via robotic painting which will lay the groundwork for numerous other high-demand industry applications.

Founded in 2016 by Francois Simard and Laurier Roy, Omnirobotic helps mass customization manufacturers use robotics to face manpower shortages. Omnirobotic believes it is time to create autonomous industrial robots capable of adapting to this ever-changing manufacturing environment and put an end to the most dangerous and unpleasant tasks that plague the sector.

“Omnirobitic will eliminate the dullest, dirtiest and most dangerous tasks in the painting industry,” said Omnirobotic CEO & Founder Francois Simard. “Autonomous robots do not simply repeat taught motion, they use machine vision and AI to learn how to perform complicated production tasks for any product — now any process can be intelligently automated. Our historically low unemployment means that it’s difficult for manufacturers to attract and retain qualified workers. We see Omnirobotic as the solution and we’re just getting started with the painting industry’s newest evolution, the OmniPainter.”

“Element AI is always looking to find the next big innovation and is laser focused on how Artificial Intelligence can help transform can help transform traditional industries; that’s why Omnirobotic is the perfect strategic investment,” said Element AI CEO Jean-François Gagné. “”We share an understanding of how industry needs to evolve and the Omnirobotic team has demonstrated that they have what it takes to be true industrial pioneers so we’re thrilled to support their efforts.”

“Recent technological progress brings drastic reductions in cost and energy, and simplifies installation and operations. Most manufacturers, big or small, are ill-equipped to explore, justify, acquire, use and maintain AI-driven industrial robots. Omnirobotic brings these technological advances to the market using a simple “rent a robot” model that fills the increasing shortage of staff,” said Sylvain Carle, Partner at Real Ventures.

“Skill labor shortage in the manufacturing industry is growing to a point where it jeopardizes the sustainability of factories,” said Simard. “Conventional industrial robots are inadequate to solve mass customization challenges. We need to to deploy smarter, more agile robots, so we have teamed up with AI champion, Element AI, to help us create “autonomous industrial robots.” Automation leader, Genik, also recognizes the need to go beyond model-to-model manual programming, especially in the aerospace sector, where there is a high diversity of tasks including surface treatment, welding and machining. Painting is just the beginning. Our investors believe in our plan to build autonomous robots that will soon become “intelligent” enough that manufacturers will be able to hire them as they would people. This can truly disrupt the automation world.”

About Element AI
Element AI is an artificial intelligence solutions provider that gives organizations unparalleled access to cutting-edge technology. Co-founded in 2016 by established entrepreneur Jean-François Gagné and leading AI researcher Yoshua Bengio in the deep learning hub of Montreal, Element AI is pioneering an AI-First world by turning the world’s most important AI research into transformative business applications. Element AI is headquartered in Montreal, Quebec and is funded by leading investors including BDC Capital, Data Collective, Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank, NVIDIA GPU Ventures, Real Ventures, and Tencent.
www.elementai.com

About Real Ventures
Real Ventures backs world-class entrepreneurs building game-changing companies, connecting them to local and national ecosystems and helping guide them through their next stages of evolution. The firm invests throughout the life-cycle of early-stage
companies and provides stage-appropriate capital and support for the founders it backs. Real believes that VCs should play a role in accelerating the creation of world-class tech ecosystems by providing support beyond the companies for whom it writes cheques. It’s this collaborative mindset that inspires Real to launch initiatives that lay, or build upon, the foundations of rapidly growing tech hubs in Canada, and wherever else the firm may go.
www.realventures.com

About Genik Automation
Founded in 1992, Genik has become one of Quebec’s biggest and most awarded automation integrators in the automotive, aerospace and manufacturing industry. Operating from St-Jerome, they accompany their customers towards attaining the organizational objectives. Genik range of automation and robotization services is thus adapted to their needs; from the creation of the concept, up to its implementation. Genik solutions integrate regularly the manipulation of complex forms and the advanced technologies of robotic, artificial vision, spectroscopy, and of surface laser treatment.
http://www.genikinc.com

About Alexandre Taillefer
Alexandre Taillefer is a serial entrepreneur who became known publicly thanks to his participation on the television show « Dans l’Oeil du Dragon ». He is Managing Partner of XPND Capital since 2011, an investment fund for companies in the transportation, technology, media and entertainment sector, with nearly $ 100 million under management.
https://www.linkedin.com/in/alexandretaillefer/

About Omnirobotic
Omnirobotic helps mass customization manufacturers robotize their operations. Founded in 2016, by Francois Simard and Laurier Roy, Omnirobotic wants to eliminate the dullest, dirtiest and most dangerous tasks in this industry and create safer, more attractive working environments. Omnirobotic’s team is developing autonomous industrial robots, a new category of machines capable of adapting to the ever-changing manufacturing environment. Omnirobotic is headquartered in Laval, Quebec and funded by leading investors including Element AI, Real Ventures, Genik Automation and Alexandre Taillefer.

Contact
Media contact for Omnirobotic:
Jean-Philippe Sicard, 450-232-6428
sales@omnirobotic.com

Business communications company Mitel Networks Corp (Nasdaq: MITL, TSX: MNW) has ended the “go-shop” period provided for in its acquisition agreement with an investor group led by Searchlight Capital Partners, a U.S. private equity firm. The company said it contacted 86 potential buyers during the “go-shop” period, but that no acquisition proposal was submitted. Ottawa-based Mitel in April announced the Searchlight-led group had agreed to buy 100 percent of its common shares for about $2.6 billion (US$2 billion), including debt. A shareholders meeting to vote on deal will be held on July 10.

PRESS RELEASE

Mitel Announces End of “Go-Shop” Period and Filing of Definitive Proxy Statement For Special Meeting of Shareholders

OTTAWA, June 08, 2018 (GLOBE NEWSWIRE) — Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader in business communications, today announced the expiration of the “go-shop” period provided in the arrangement agreement between Mitel and an investor group led by affiliates of Searchlight Capital Partners, L.P (“Searchlight”). During the go-shop period, representatives of Mitel contacted 86 potential buyers. Seven of the potential buyers entered into confidentiality agreements with Mitel and were granted access to non-public information about Mitel, but no potential buyer submitted an acquisition proposal.

Mitel also announced that it has filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities its definitive proxy statement and related materials related to the special meeting of Mitel shareholders to be held on July 10, 2018, at 10:00 a.m., Ottawa time, to vote on a resolution in favor of the arrangement pursuant to which an affiliate of Searchlight will acquire 100% of the common shares of Mitel. Copies of the definitive proxy statement and related materials will be mailed to shareholders of record as of June 7, 2018. The special meeting will be held at The Brookstreet Hotel, 525 Legget Drive, Ottawa (Kanata), Ontario, Canada K2K 2W2.

Additionally, Mitel disclosed that an advance ruling certificate has been issued by the Commissioner of Competition pursuant to the Competition Act (Canada) and that the U.S. Federal Trade Commission has granted early termination of the waiting period under the HSR Act. Accordingly, the conditions to the transaction relating to the expiration or termination of the applicable waiting periods under the Competition Act and the HSR Act have been satisfied. The transaction is expected to close during the second half of 2018, subject to customary closing conditions, including the receipt of other regulatory approvals, shareholder approval and court approval.

If you have additional questions about the arrangement, please call our proxy solicitor, Alliance Advisors, LLC, toll-free at (833) 501-4817, or contact Mitel in writing at our principal executive offices at 350 Legget Drive, Ottawa, Ontario, Canada K2K 2W7, Attention: Investor Relations or by telephone at (469) 574-8134.

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Luge Capital has launched to invest in early-stage fintech companies with the backing of one of Canada’s largest institutions and the support of one of its top venture firms.

Luge today said it raised an initial $75 million for its inaugural fund. It plans to secure the rest of the $100 million target over the next few months.

The fund raised capital commitments from five limited partners: Caisse de dépôt et placement du Québec, Desjardins Group, Sun Life Financial, Fonds de Solidarité FTQ and La Capitale.

Luge was founded by General Partners David Nault and Karim Gillani. The idea behind the firm originally came from the Caisse, Canada’s second largest pension system, which wants to see Canada “up its game in the global fintech sector,” Nault told PE Hub Canada.

The Caisse and Desjardins, a financial cooperative, got things rolling last October by seeding the Luge fund with $50 million.

They and other LPs, which include two insurers, made commitments to “capture exposure” to emerging fintech companies backed by Luge, Gillani said.

They will be key strategic partners to the firm and its portfolio, including as a source of co-investment resources, he said.

Another Luge strategic partner is iNovia Capital, a 10-year North American tech investor that is reportedly raising a new US$500 million ($640 million) fund.

INovia will provide Luge with back-office support and access to its talent pool and investment pros, as well as co-invest in fintech opportunities of interest, Gillani said.

Luge’s strategy is to invest across the fintech landscape, zeroing in on opportunities that can realize efficiencies for banks and other financial institutions and help improve customer experience, Nault said.

It will do this by focusing on early-stage fintech companies and artificial-intelligence solutions applied to financial services. The firm will make initial seed-stage and Series A investments of $250,000 to $2 million, mostly in Canada but with a “global lens,” Gillani said.

Luge’s emphasis on AI is significant. AI is fast becoming pivotal to fintech innovation, especially in Canada and the United States, in part because of its potential to automate processes.

Gillani says the firm’s debut deal is “a stone’s throw away.”

Nault, who will be based in Luge’s Montréal office, and Gillani, who will operate from Toronto, bring a history of fintech investment and entrepreneurship to their roles.

Nault is a six-year veteran of Luge’s strategic partner iNovia, where he served as a principal and vice president of investments. His prior career included time spent as an operator, including as an executive at online payments processor Pivotal Payments.

Gillani formerly led strategy and corporate development at Silicon Valley’s Xoom, a cross-border remittance company acquired in 2015 by PayPal for US$890 million. A C100 charter member, he has also co-founded startups and backed others as an angel investor.

Global funding of fintech companies accelerated over the past several years, reaching US$16.5 billion invested in 2017, according to CB Insights. With US$5.4 billion invested in Q1 2018, activity may hit a new high this year.

As a major financial hub with a growing fintech ecosystem, Canada has shared in these trends. However, a March report by the Global Risk Institute found that while Canadian fintech investing is commensurate with GDP, it still lags the United States and other countries.

Nault says under-investment is due to “too few specialized fintech funds” in Canada, something Luge aims to remedy as “a new kind of investor that brings more than money.”

Other Canadian fintech VC firms include Information Venture Partners, which closed its second fund in 2016 at $106 million; Portag3 Ventures, which invests on behalf of Power Financial; Impression Ventures, which closed its second fund last year at $30 million, and; Ferst Capital Partners.

Statflo, a Toronto-based sales acceleration platform, has raised $12 million in a Series A financing, bringing total funding to $16.5 million. Elsewhere Partners led the round and was joined by existing investors Round13 Capital and Globalive Capital, and new investors Generation Ventures, Johannes Gnauck and Marco Schnabl. Elsewhere’s Sam Kentor and Generation’s Laura Lenz have joined the board as a result. Founded in 2012, Statflo’s compliant one-to-one outreach tool allows wireless and technology retail stores, along with their indirect channels, to proactively drive more store traffic. It will use the funds raised to develop IP and pursue growth.

PRESS RELEASE

Statflo Raises $12 Million to Continue Growth of 1:1 Sales Accelerator Software in Wireless & Tech Retail Stores

Series A Round Led by Elsewhere Partners with Participation from Generation Ventures, Round13 Capital and Globalive Capital

TORONTO, June 11, 2018 /PRNewswire/ – Statflo, a sales acceleration platform built for indirect and direct retail stores, today announced it raised $12 million in Series A funding, bringing its total capital raised to $16.5 million. Elsewhere Partners led the round, joined by existing investors Round13 Capital and Globalive Capital, as well as new investors Generation Ventures and automotiveMastermind co-founders Johannes Gnauck and Marco Schnabl. Additionally, Sam Kentor of Elsewhere Partners and Laura Lenz, partner at Generation Ventures, will join Statflo’s Board of Directors.

“This investment demonstrates the market demand for Statflo’s data-driven technology for wireless retail,” said Kevin Gervais, Statflo CEO. “Retail workers are looking for ways to drive more traffic and transactions. Personalized interactions are key to driving sales, and our platform gives those retailers the technology to make things personal.”

“This round of financing will enable Statflo to accelerate development of our intellectual property and provide sufficient capital for the foreseeable future,” Gervais added.

Statflo is a one to one (1:1) compliant outreach tool that allows wireless and technology retail stores, along with their indirect channels, to proactively drive more store traffic. On average, stores see a double-digit increase in sales in the first 60 days.

With Statflo, store associates can start local and personalized customer conversations whenever traffic is slow. As a result, brands add human-to-human conversations as a key part of the customer journey, building an intimate experience before and after every sale.

The company has deployed into national retailers and Tier 1 telecom carriers. Statflo recently graduated from the Salesforce Accelerate program in April 2018.

“Statflo is changing the way retail stores and brands retain and grow relationships with existing consumers,” said Gervais. “Our company continues to grow at a record pace, having launched with 51 new customers in the last year and generating an incredible 10X or higher ROI for our customers. We are pleased to have Elsewhere and Generation Ventures join our mission in redefining the human retail experience.”

“Helping sales personnel create personalized customer experiences is what drives our success at automotiveMastermind and what we believe is the future of marketing across all industries,” said Marco Schnabl, co-CEO of automotiveMastermind. “Statflo’s work in the retail space will surely help pave the way for more targeted interactions across all types of sales transactions.”

“Statflo has created a new, engaged interaction layer between a wireless retail store and its customers much the way automotiveMastermind did in the retail automotive space,” said Sam Kentor of Elsewhere Partners, who invested in automotiveMastermind while at JMI Equity. “In doing so, it is helping modernize brick and mortar stores in the wireless retail market by enabling a more intimate and human experience while helping them establish an ongoing relationship and a more engaged customer base.”

“One of the things that drew us to Statflo is that the company has found a practical and highly valuable way of applying AI to a business problem. By examining buying patterns, we have found a way to predict which customers are most likely to buy and when,” says Craig Strong, Partner at Round13.

About Statflo
Based in Toronto, Canada, Statflo is a sales acceleration platform focused on activating idle time of retail workers to build compliant, local, human relationships with past customers and sharpen their sales skills. Statflo’s mission is to humanize the world of retail, providing tools for the next generation of retail workers to be proactive. Leading national retailers and Tier 1 telecom providers use Statflo in their stores to provide provable ROI, increase sales and improve customer service. Statflo was voted one of the Top 10 Best Workplaces in Canada by Great Place to Work®. For more information, visit statflo.com.

About Elsewhere Partners
Elsewhere Partners is a growth-stage venture capital firm that makes seven-figure investments in Elsewhere Outliers – business software companies that are located outside of traditional venture capital hubs and have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their founder’s timetable. To learn more, visit elsewhere.partners.

About Generation Ventures
Generation Ventures is the venture arm of Generation Capital, a family office based in Toronto, Canada. Through Generation Ventures, we invest directly in companies in the Series A and B stage as well as fund leading VCs in Canada, the US and China. Generation Ventures invests in smart people that are solving big problems with innovative products that companies are using now.

About Round 13 Capital
Round13 Capital is a growth-stage venture capital firm based in Toronto, Canada. The focus of the firm is to invest in Canadian technology companies that have demonstrated product-market fit and are ready to scale. R13 is supported strategically and financially by a group of Founders who have all achieved considerable success building Canadian technology companies. Working with this group, the partnership is committed to “rolling up its sleeves” to help accelerate the growth of the companies it backs. To learn more, visit round13capital.com.

Canadian family office Walter Group of Companies has launched Walter Asset Management, a new North American private equity platform that will invest in small and mid-sized players in the asset management sector. The Montréal-based evergreen platform is expected to raise initial capital of $100 million, $40 million of which will be supplied by Walter Group. Sylvain Brosseau, the former head of Fiera Capital Corp, will lead Walter Asset Management. He will also commit capital. Walter Group, a sponsor of Walter Capital Partners, said the platform will help fill a key gap in the asset management space, which is currently undergoing consolidation.

PRESS RELEASE

The Walter Group of Companies and Sylvain Brosseau join forces to launch a unique Canadian private equity platform to invest in asset management firms

MONTREAL, June 11, 2018 /CNW Telbec/ – The Walter Group of Companies (“Walter Group”) is pleased to announce the launch of Walter Asset Management, a new North American private equity platform specializing in consolidating the expertise of small and medium-sized players in the asset management sector. Based in Montreal, the platform will be dedicated to supporting the growth of leading asset management firms and managers. Its innovative structure will allow institutional and private investors to participate in an initial target capital raise of at least $100-million, including a contribution of $40-million from the Walter Group, and funds from the President and Chief Executive Officer of Walter Asset Management, Sylvain Brosseau.

“For over 60 years, the success of the Walter Group, including Walter Surface Technologies and Walter Financial, has enabled us to successfully invest in other companies and become their true partners,” said Pierre Somers, Chairman and Chief Executive Officer of the Walter Group of Companies. “Entrepreneurship and innovation remain at the heart of the Walter Group’s values, and those values will be at the core of Walter Asset Management.”

With the consolidation trend sweeping the asset management space, the Walter Group hopes to fill a hole in the market with Walter Asset Management. “We want to offer investment firms the opportunity to share best practices and solutions and to take advantage of various resources within Walter Asset Management, while maintaining their entrepreneurial spirit, flexibility and vision – important assets in an ever-changing world,” said René Fournier, President and Chief Investment Officer, Walter Financial. “On the other hand, by structuring Walter Asset Management as an evergreen fund, we will allow other investors interested in this asset class to participate with us in the creation of this consolidation platform.”

More than a wealth management firm

Like the other financial companies in the Group, Walter Asset Management will draw on the entrepreneurial background, financial success and know-how of the Walter Group and Sylvain Brosseau to support the investment firms that will join this unique new platform.

“With the strength of the Walter Group behind us, we will be able to create synergies for the benefit of the firms in which we invest, particularly in research, business development, information technology and human resources management,” said Sylvain Brosseau, President and Chief Executive Officer, Walter Asset Management, and member of the Board of the Walter Group of Companies. “We want to create a unique ecosystem in which investment firms have the flexibility and agility to innovate and perform while benefiting from the support of the Walter Group to reach new heights.” In addition, through its Boston office and association with the Watermill Group, Walter Asset Management has a solid foundation to acquire firms and solutions in both the Canadian and U.S. markets, and then accompany them in their growth across North America.

About the Walter Group of Companies

For more than 60 years, the Walter Group of Companies has been guided by a strong entrepreneurial spirit that has been passed down from one generation to the next. Leveraging its unique position, the Group has evolved into a flourishing ecosystem comprising an operating company, Walter Surface Technologies, and its subsidiary Bio-Circle, as well as Walter Financial, Walter Capital Partners and Walter Asset Management. www.waltergroup.ca

For further information: Media : Adam Daifallah, HATLEY Strategy Advisors, 514-316-7089, adaifallah@hatleystrategies.com; Investments : René Fournier, President and Chief Investment Officer, Walter Financial, 514-932-3898, rfournier@walter.com; Sylvain Brosseau, President and CEO, Walter Asset Management, 514-932-7422, sbrosseau@walter.com

Canadian private equity firm Onex Corp has hired Ted Larkin as a managing director. Larkin, who is based in the firm’s Toronto headquarters, will be responsible for business and relationship development in Canada. Before joining Onex, he spent more than 30 years working in a range of senior roles at UBS Investment Bank, mostly recently as the managing director of the Toronto investment banking group. Last November, Onex closed its fifth flagship private equity fund, Onex Partners V, securing US$7.15 billion in committed capital.

PRESS RELEASE

Ted Larkin Joins Onex

TORONTO, June 11, 2018 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX:ONEX) today announced Ted Larkin has joined Onex as a Managing Director in its Toronto office. Mr. Larkin will focus on business and relationship development in Canada.

“We have worked closely with Ted over the years and know he will be a great addition to the Onex team,” said Seth Mersky, a Senior Managing Director with Onex. “Ted’s role will be complementary to our investment team’s focus on industry verticals.”

Prior to joining Onex, Mr. Larkin worked for more than 30 years in Toronto and London with UBS Investment Bank in a variety of senior roles. Most recently, he was the Managing Director of the Toronto Investment Banking group. He started his banking career in London with UBS, where he worked in capital markets for 18 years.

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.

For further information:

Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711

Davis-Standard LLC has acquired Brampton Engineering Inc, a Brampton, Ontario-based provider of multi-layer air-blown and water-quenched film systems, film winding, and other film production solutions. No financial terms were released. Established in 1973, Brampton is led by President and CEO Gary Hughes. Pawcatuck, Connecticut-based Davis-Standard is a manufacturer of plastic and rubber extrusion and converting systems. It was acquired in 2011 by ONCAP, the mid-market investment platform of Canadian private equity firm Onex Corp.

PRESS RELEASE

Davis-Standard Acquires Brampton Engineering

June 2018

(Pawcatuck, Conn.) – Davis-Standard, LLC announced today that it has acquired Brampton Engineering of Brampton, Ontario. Brampton Engineering, LLC (www.be-ca.com) is the leading provider of multi-layer AeroFrost® air blown and AquaFrost® water quenched film systems, film winding and many other film production solutions.

“Today we are pleased to welcome Brampton Engineering with their globally recognized blown film technology to our team,” said Jim Murphy, Davis-Standard President and CEO. Murphy added “BE’s focus on customer support, technology and its employees align well with the values of Davis-Standard.”

Gary Hughes, CEO of Brampton Engineering, remarked on teaming with Davis-Standard.

“Davis-Standard is a global leader in plastic extrusion technology and we are proud to join their team. D-S brings resources and support to our business to better serve our customers worldwide and we are excited about the solutions we can present together.”

Murphy closed with, “We are very enthusiastic about our future together with Brampton Engineering and would also like to thank our majority owners, ONCAP, for their continual support.”

About Davis-Standard, LLC

Davis-Standard, LLC (www.davis-standard.com), headquartered in Pawcatuck, Conn., is a global leader in the design, development and distribution of extrusion and converting technology. Davis-Standard systems encompass over 10 product lines to support manufacturing applications and customers within every major industry. This includes the agriculture, automotive, construction, healthcare, energy, electronics, food and beverage packaging, and retail industries, among others. With more than 1,250 employees worldwide and a network of independent sales agents and suppliers in nearly every country, Davis-Standard is committed to engineering systems that are cost effective, environmentally friendly, and offer a high return on investment. The company has manufacturing and technical facilities in the United States, China, Germany, Finland, Switzerland, Canada and the United Kingdom.

About ONCAP

ONCAP is the mid-market private equity platform of Onex. ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid- size companies that are leaders in their defined market niche and possess meaningful growth potential.

Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. The company has approximately US$25 billion of assets under management, including US$6 billion of Onex proprietary capital, in private equity and credit securities. For more information on Onex, please visit www.onex.com

Canadian pet-focused merchant bank Dane Creek Capital Corp has acquired Spring Meadows Natural Pet Food, a Saskatoon-based maker of frozen raw pet food for dogs and cats. No financial terms were disclosed for the all-cash deal. Founded in 2014 by Brett Flahr and Regan Sloboshan, Spring Meadows partners with local farmers to develop its product line for specialty retailers, primarily in Western Canada. Flahr will continue as the company’s president. Spring Meadows is Dane Creek’s fourth acquisition of a Canadian raw pet food manufacturer in the past 12 months. Earlier in 2018, the firm bought Naturawls Pet Products and Pets4Life.

PRESS RELEASE

Dane Creek Capital Corp. acquires Spring Meadows Natural Pet Food

Transaction marks merchant bank’s fourth acquisition of a major Canadian raw pet food manufacturer in the last 12 months

MISSISSAUGA, Ontario, June 11, 2018 (GLOBE NEWSWIRE) — Dane Creek Capital Corp. (‘DCCC’ or the ‘Company’), the pet industry’s merchant bank, is pleased to announce it has acquired Spring Meadows Natural Pet Food (‘Spring Meadows’), a leading manufacturer of frozen raw pet food for dogs and cats. Spring Meadows is located in Saskatoon, Saskatchewan and sells its products via pet specialty retailers mainly in western Canada.

The purchase price represents 0.72 times trailing 12-months revenue. The purchase is an all cash transaction. No other terms were announced.

Founded in 2004 by farmers Brett Flahr and Regan Sloboshan, Spring Meadows recipes feature high quality whole ground animal, including meat, organ and bone, sourced predominantly through local farmers to create a fresh and healthy pet food. The product line includes pure protein meals with beef, chicken, fish, turkey, lamb, rabbit, and bison as well as mixed meals with added fruits and vegetables. Spring Meadows pet foods come in a variety of package sizes including bulk options and are prepared using a fine grind so as to appeal to owners of small dogs and cats as well as larger dogs. Flahr will continue on as President of Spring Meadows reporting to Mark Murakami, President of United Raw Pet Foods Inc., a subsidiary majority owned by DCCC.

The acquisition of Spring Meadows marks DCCC’s fourth acquisition of a Canadian raw pet food manufacturer in the last 12 months. In Q4-2017, DCCC acquired Mountain Dog Enterprises Inc. of Edmonton, Alberta; in Q1-2018, the Company acquired both Pets4Life and Naturawls Pet Products based in St. Thomas, Ontario. With the addition of Spring Meadows, DCCC now has manufacturing capability in three provinces. The Company believes more and more pet owners are moving their dogs and cats to a raw diet making it the fastest growing segment in the pet food industry. Recognizing that the demand for raw food is increasing, pet specialty retailers across Canada are increasing the amount of freezer space in their stores.

“We are delighted to be making this announcement,” said Glen Tennison, President & CFO of DCCC. “We are impressed by the quality and attention to detail Brett and his team have devoted to making a nutritious raw food which some retailers have said is the best in the business. We look forward to Brett’s involvement as a key leader on the DCCC team as we look to expand the reach of our raw pet food brands in support of pet specialty retailers across Canada.”

Traceability is a core feature of Spring Meadows’ raw meals which originally used meat from livestock raised by the founders. As demand outstripped supply, Flahr and his partner were able to leverage their relationships with local farms to sustain their ‘farm-to-bowl’ philosophy. DCCC believes traceability and vertical integration in the raw food category will become of increasing importance as blockchain technology reaches the pet food world. The Company has already begun moving towards applying blockchain to its pet consumables businesses, including its four core raw pet foods brands, three dehydrated treats brands, and Baie Run supplements brand. DCCC believes pet specialty retailers and pet owners will increasingly demand transparency in all the products they feed their pets and blockchain technology will give the Company a significant competitive advantage over others in the industry.

“I am very pleased to be joining the Dane Creek team,” said Flahr. “I believe the model they have developed puts them at the forefront of the industry and I look forward to working with them to grow Spring Meadows as a leading raw pet food brand across Canada.”

Contacts

Glen Tennison, President & CFO
Dane Creek Capital Corp.
(905) 581.7412
gt@danecreekcap.com

Amanda Zaharchuk, VP Marketing & Communications
Dane Creek Capital Corp.
(289) 814.2495
az@danecreekcap.com

U.S. predictive endpoint security platform CounterTack has acquired GoSecure Inc, a Montréal-based cybersecurity managed detection and response provider. No financial terms were disclosed. Founded in 2002 and led by President and Chairman Pascal Fortin, GoSecure has been a CounterTack channel partner. Its acquisition will enhance the Waltham, Massachusetts-based company’s enterprise service offerings. Founded in 2011, CounterTack has raised US$92.4 million in venture capital, according to Crunchbase, including last year’s Series D financing led by Singtel Innov8 and SAP National Security Services.

PRESS RELEASE

CounterTack Acquires Channel Partner, GoSecure, Scaling a Market Leader for Cloud-Enabled Managed Detection and Response

Wed, 6 June 2018

Acquisition Combines Leading Predictive Endpoint Protection Platform with World Class Managed Detection and Response (MDR) Services securing additional competitive advantages over CrowdStrike and Carbon Black

WALTHAM, Mass.–(BUSINESS WIRE)– CounterTack, the leading provider of Predictive Endpoint Security for the enterprises, today announced the acquisition of GoSecure, Inc., a cybersecurity Managed Detection and Response Provider. CounterTack has established itself as the only true behavior-based predictive endpoint solution with in-memory analysis, multi-tenancy, and scalability that can manage hundreds of thousands of endpoints in a single deployment. As a market leader in Endpoint Detection and Response (EDR) and Next Gen Antivirus (NGAV), CounterTack’s acquisition expands its previous partnership with GoSecure to scale a best-in-class MDR Platform as a Service for the company’s domestic and international customers. The transaction will enhance CounterTack’s solutions for enterprises of all sizes, whether deployed on-premise, hosted, or managed in the cloud.

With this acquisition, CounterTack takes MDR to the next level and will continue its explosive growth with revenues surpassing $70 million next year. CounterTack’s Platform as a Service will empower its customers in North America, Europe, and the Asia Pacific, including small and mid-sized corporations, the Fortune 50, and national security organizations to stay on top of today’s advanced forms of cyberattacks like ransomware, memory-only malware, scripted attacks executing in plain sight and insider threats. CounterTack delivers highly scalable, predictive endpoint security products to its customers together with multi-vector threat hunting and industry-leading cybersecurity mitigation services to protect customers with unmatched speed and effectiveness.

“CounterTack has been methodical in building technology, acquiring IP, servicing customers and controlling expenses in lock step with market demand with far less capital expended than our main competitors,“ stated Neal Creighton, CEO of CounterTack. “With GoSecure, we immediately expand our service offerings, add the industry’s best security experts and thought leaders that, together with CounterTack’s products, offer automated, scalable MDR. GoSecure has been a CounterTack partner for years and is fully integrated on our platform to power their services so the combination is a natural progression of our relationship.”

“GoSecure has fully integrated CounterTack’s platform into our active mitigation services to create differentiated offerings,” stated Pascal Fortin, President and Chairman of the Board for GoSecure, Inc. “CounterTack’s strong platform and GoSecure’s depth of real-world security experience will allow us to bring an unrivaled class of services to address client’s most demanding security requirements. We look forward to joining the CounterTack team and providing unprecedented protection – from rapid identification to active mitigation with aggressive SLAs to organizations of all sizes across the globe.”

“Security teams are looking for security service providers that can help them prevent, detect, and respond to the flood of advanced threats targeting the enterprise,” says Aaron Sherrill, Senior Analyst at 451 Research. “With its acquisition of MSSP GoSecure, CounterTack is paving the way for the next generation of managed security service provider and endpoint security delivery.”

With robust threat hunting and active mitigation services that directly touch the endpoints with SLAs measured in seconds and minutes, enterprises with hundreds of thousands of endpoints down to those with a few hundred can now can secure their infrastructure with a single vendor solution from CounterTack.

About CounterTack
CounterTack is the leading provider of Predictive Endpoint Detection, Response and Next Gen Antivirus, which together, is coined by Gartner as Endpoint Protection Platform (EPP) for the enterprise. CounterTack’s EPP delivers multi-vector detection, prevention, and response by applying a unique combination of behavioral analysis, memory forensics, machine learning, and reputational techniques to counter the most advanced threats. CounterTack detects and analyzes threats based on behaviors observed in the operating system, in memory and on-disk, leveraging analytics that examine the cause and effect of endpoint state changes. CounterTack empowers security teams with the tools, information, and context they require to prevent and neutralize threats across the entire threat spectrum before they damage the business. CounterTack currently has over 300 customers globally and powers the Managed Detection and Response (MDR) offerings of a growing ecosystem of the world’s leading MSSPs.

To learn more, please visit: http://www.countertack.com/ or follow us on Twitter at @CounterTack.

CounterTack
Madeline Lee, 781-215-9427
mlee@countertack.com

Clearwater Capital Management has urged AutoCanada Inc (TSX: ACQ), a Canadian automobile dealership group, to initiate a strategic review. In a letter addressed to the chairman, Roland Keiper, president of the Toronto-based hedge fund, expressed concern about AutoCanada’s first quarter performance, a concern he says is held by other shareholders. He said AutoCanada’s board should form a special committee to consider options that offer the “potential opportunity to sell at an attractive premium and avoid the risk of further operating performance risks.” AutoCanada is based in Edmonton.

PRESS RELEASE

Clearwater Capital Urges AutoCanada Board to Initiate Strategic Process

TORONTO, June 11, 2018 /CNW/ – Clearwater Capital Management Inc. (“Clearwater”), on behalf of its managed accounts, holders of common shares of AutoCanada Inc. (“AutoCanada”), announced today that it has strongly urged AutoCanada to form a special committee of the board to initiate a strategic process. In a letter to the Chair of AutoCanada (attached), Clearwater outlines its past successful engagement with AutoCanada, its concerns with respect to recent operating performance, and the importance of initiating a strategic process at this juncture to fulfill the best interests of the corporation. Clearwater’s concerns are shared, and its request for the initiation of a strategic process is supported, by other significant AutoCanada shareholders.

Clearwater hopes that the board will constructively respond Clearwater’s request, and has requested public confirmation from AutoCanada that it has taken action to form a special committee and pursue a strategic process.

DELIVERED BY EMAIL: gbarefoot@shaw.ca

June 11, 2018

Mr. Gordon Barefoot
Chairman
AutoCanada Inc.
200 – 15511 123 Ave NW
Edmonton, AB T5V 0C3

Dear Gord:

Re: Formation of Special Committee of Board to Explore Sale of Business

The purpose of this letter is to formally request that the board form a special committee of the board to undertake a strategic process to explore strategic alternatives, and publicly disclose same. As you know, Clearwater Capital Management Inc. (“Clearwater”) has engaged productively in the past with your board and AutoCanada management, and those interactions lead to increased value for shareholders. For the reasons outlined below, and based on our discussions with other AutoCanada shareholders, we strongly believe that the company’s best interests require that such a process be undertaken, due to the company’s performance in both general and comparative terms. The background to, and need for, a strategic process is outlined further in this letter. We hope and expect that the AutoCanada board will fulfill our request in furtherance of its responsibilities.

Background

Clearwater has a long history and record of successful and value-enhancing engagement with management teams and boards, including with AutoCanada. As you will recall, Clearwater, on behalf of its managed accounts, held a significant position in AutoCanada from 2008 to 2011, and through that period engaged in a regular dialogue with senior management and the board on a variety of issues. Those issues included offering to refinance term debt maturing 2009, discussions concerning disappointing operating performance in Q3 2010, a request for the appointment of Chris Cumming to the board of directors that was accepted in May 2011 and a change in dividend policy that was implemented in June 2011. Our perspectives were supported by several AutoCanada shareholders who, together with Clearwater’s interest, represented over 60% of the public float.

Our engagement with AutoCanada management and board in that period resulted in increased value for the company and helped set it on a path for significant growth in the business and share price in 2013-2014.

Current Situation

We hold a favourable view towards auto retailing, based on invested returns on capital and the acquisition opportunities presented by the fragmented ownership of Canadian and US dealerships and dealer groups offer the opportunity to employ capital at attractive rates of return. US public dealer group shares have significantly outperformed the S&P 500 Total Return Index since January 2009 and Berkshire Hathaway’s acquisition of Van Tuyl Group, in 2005, the largest private dealer group in US and the 5th largest US dealer group, highlight the attractive business conditions for large dealer groups.

As I discussed with you in our telephone conversation on June 6, Clearwater, on behalf of its managed accounts, recently acquired a new investment position in AutoCanada common shares, and I have spoken to several of AutoCanada’s largest shareholders. There appears to be significant concern about the poor margins experienced by AutoCanada in Q1. I understand from you that the board has met with management several times since the Q1 results were released to set a course for sales and margin improvements and to closely monitor the integration of the recently acquired US dealer group. Closer oversight and accountability of management are certainly welcome developments. However, concurrent with these efforts, the time has come for AutoCanada to pursue a strategic alternatives process that will offer AutoCanada and its shareholders the potential opportunity to sell at an attractive premium and avoid the risk of further operating performance risks.

US public auto dealer groups, in many cases, generate materially higher operating margins than those of AutoCanada, and if those margins were to be applied to AutoCanada’s revenue base, AutoCanada could materially increase its EBITDA, operating and net earnings. We believe, for these reasons and based on our discussions with senior management of one of these public dealer groups (that enjoys much higher margins than AutoCanada), that potential acquirors (particularly those with a track record of improving underperforming dealer groups) would regard AutoCanada as an attractive and accretive acquisition target, one that would also extend geographic footprint in the case of US dealer groups.

The Path Forward

As noted, the purpose of this letter is to formally request that the board form a special committee of the board to initiate and pursue a strategic process to explore a sale of the business, and confirm the same by issuing a press release so that shareholders are informed this action has been taken. Among the AutoCanada shareholders with whom I have spoken there is a clear support for the prompt implementation of a strategic process notwithstanding the effort to improve operating margins that you have communicated. We trust the board will take a constructive approach, as it has taken in the past, and promptly initiate a strategic process to consider the sale of the company while moving forward to improve the business. We note that there is strong shareholder will for these steps to be pursued and that AutoCanada is now a widely-held company, without a key management shareholder.

We would request you distribute a copy of this letter to your board colleagues and advisors. We intend to make our letter available to AutoCanada’s shareholders via a press release.

Yours truly,

Roland Keiper
President
Clearwater Capital Management Inc.

For further information: For additional information: 416 642 5700

Canada Pension Plan Investment Board (CPPIB) plans to issue an inaugural green bond. The initiative, the first by a pension fund, CPPIB said, will provide additional funding for increasing holdings in renewables and energy-efficient buildings. Any green bonds issued in Canada will be issued on a private placement basis and only to certain qualified accredited investors. CPPIB has over the past year announced plans to invest more than $3 billion in the renewable energy sector.

PRESS RELEASE

Canada Pension Plan Investment Board to Issue Green Bonds

Inaugural issue a first among public pension funds

TORONTO, June 11, 2018 (GLOBE NEWSWIRE) — Canada Pension Plan Investment Board (CPPIB) announced today plans to issue its inaugural Green Bond, becoming the first pension fund to do so. The sale will provide additional funding for CPPIB as it increases its holdings in renewables and energy efficient buildings as world demand gradually transitions in favour of such investible assets.

“The issuance of Green Bonds is a logical next step to CPPIB’s investment-focused approach to climate change, and we are pleased to be a pioneer amongst pension funds in this regard,” said Poul Winslow, Senior Managing Director & Global Head of Capital Markets and Factor Investing. “The capital raised will help support strong, long-term investments in eligible green assets that position the Fund for continued success.”

CPPIB has announced plans over the past year to invest more than C$3 billion in the renewable energy sector, as it works to ensure the CPP Fund is well-positioned for the expected global transition to a lower-carbon economy.

CPPIB’s Green Bond Framework defines three categories as eligible for investment from Green Bond proceeds:

Renewable Energy (wind and solar);
Sustainable Water and Wastewater Management; and
Green Buildings (LEED Platinum certified).

CPPIB has also engaged the Center for International Climate Research (CICERO), a world leader in providing second opinions on the qualification of debt for Green Bond status.

Any Green Bonds issued in Canada will be issued on a private placement basis only to certain qualified accredited investors.

About Green Bonds
Since their introduction in 2007, Green Bonds have become mainstream in the financial community with the annual issuance of Green Bonds reaching $155 billion in 2017, a 78 percent increase over 2016. Annual issuance is expected to reach $250 – $300 billion in 2018, and increase to $1 trillion by 2020 according to the Climate Bonds Initiative.

About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At March 31, 2018, the CPP Fund totalled $356.1 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

For more information:
Darryl Konynenbelt
Director, Global Media Relations
T: 416 972 8389
dkonynenbelt@cppib.com Mei Mavin
Director, Global Corporate Communications
T: +44 (0) 203 205 3406
mmavin@cppib.com

Vertex Resource Group Ltd (TSX-V: VTX) has acquired the business of TSL Industries, a Kola, Manitoba-based provider of vacuum, hydro vac, fluid hauling, hot oiling and pressure truck services. No financial terms were released. TSL, established in 2001, serves the oil and gas industry as well as other sectors, such as utilities. Vertex, a Sherwood Park, Alberta-based environmental and industrial services provider, said the deal grows its service offering and presence in Manitoba. Vertex last year closed an $85.8 million qualifying transaction to go public with the backing of Canadian energy private equity firm 32 Degrees Capital.

PRESS RELEASE

Vertex Resource Group Ltd. Acquires Environmental Service Company in Manitoba

June 07, 2018

Acquisition of the Business of TSL Industries Further Expands Vertex’s Presence in Manitoba & Grows Vertex’s Service Offering

Vertex Resource Group Ltd. (“Vertex”) is pleased to announce that it has acquired the business of TSL Industries, an environmental services company that provides vacuum, hydro vac, fluid hauling, hot oiling and pressure truck services in Manitoba effective May 31st. TSL Industries’ company owned and maintained fleet of equipment is used to serve the oil and gas industry as well as clients in other sectors including utilities and municipal work in the Virden, Manitoba area.

In recent years, TSL Industries has made strides in developing its service offering outside of the oil and gas industry while maintaining its core service relationships and capabilities. This aligns with Vertex’s current strategy, making TSL Industries an attractive acquisition opportunity, as Vertex continues to make efforts to diversify its client base. This transaction further entrenches Vertex’s geographic presence within the province of Manitoba as Vertex will now offer additional environmental services including vacuum, pressure, hydro vac and fluid hauling services on a permanent basis. Vertex will now be able to more effectively service the province of Manitoba and the Williston Basin resource play with two new locations in Kola and Waskada.

This acquisition will expand Vertex’s service offering with the addition of a hot oiler that is used to perform clearing and preventative maintenance on wells, pipelines, tanks and various other operational lines that experience build up of wax and other debris. This service is extremely complimentary to Vertex’s service offering as both a stand-alone service and integrated as part of an industrial cleaning and turnaround service package.

ABOUT VERTEX

Established in 1976, Vertex has grown to become a leading provider of environmental and environmentally focused industrial services. Headquartered in Sherwood Park, Alberta, Vertex employs a staff of approximately 750 employees that service a wide array of customers in industries such as upstream and midstream oil and gas, utilities, telecommunication, forestry, agriculture and government.

Vertex principally operates in western Canada and has some locations in the United States.

For further information please contact:

Terry Stephenson, CEO, or Michael Zvonkovic, CFO at Phone: 780-464-3295

Montréal-based flexible workspace provider Breather has raised $60 million in a follow-on-financing, bringing total funding to about $150 million. The latest round was led by Caisse de dépôt et placement du Québec and Singapore’s Temasek. Other investors included Ascendas-Singbridge. Founded in 2013 by CEO Julien Smith and CCO Caterina Rizzi, Breather has scaled its presence in the global workspace rentals sector to 10 cities, including New York City, San Francisco and London. It now operates close to 500 spaces. Breather’s other investors include Menlo Ventures, Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures, all of which backed its Series C round in 2016.

PRESS RELEASE

Quebec-based Breather completes a CAD $60 million funding round led by la Caisse and Temasek

MONTREAL, June 12, 2018 /CNW Telbec/ – Breather, a leading global provider of flexible workspace, announces that it has raised approximately $60 million in equity including la Caisse de dépôt et placement du Québec (“la Caisse”) and joined by several other global firms including Temasek and Ascendas-Singbridge.

Short-term office rental services make up a multi-billion-dollar industry that provides monthly to hourly workspace rental options, including fully furnished offices, conference and meeting rooms. All types of companies, from start-ups to Fortune 500 companies, are turning toward the commercial real estate industry for flexible workspaces to meet their changing operating needs and to reduce costs. The segment in which Breather operates, which focuses on private, fully furnished offices and conference rooms, accounts for 71% of the industry.

Within the last five years, Breather has demonstrated its strong capacity to succeed in the workspace rentals sector by scaling to 10 cities globally. Today, the company is notably present in New York City, San Francisco, Toronto, and London.

“We work with businesses of every size—from growing startups to leading enterprise organizations—to provide space solutions that scale to their needs,” said Julien Smith, founder and CEO of Breather. “Traditional real estate agreements can lead to large fixed costs and teams getting locked into a space that they might soon outgrow. Breather enables businesses to access the space they need when they need it, with the freedom to scale usage up or down when they want to. We’re excited to work with our new partners to bring that freedom to even more businesses worldwide.”

Investing in Breather allows la Caisse to get ahead of a new real estate trend with one of its top players.

“Breather is a young, innovative and fast-growing company with great potential on the international scene.” states Christian Dubé, Executive Vice-president, Québec, at la Caisse. “Through its unique and innovative business model, Breather has demonstrated a unique capacity to lead within a rapidly transforming industry with a focus on technology and an ongoing focus to optimize yield management through machine learning.”

Founded in 2013, Breather operates close to 500 spaces globally. To date, the company has raised nearly CAD $150 million from partners including Menlo Ventures, Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures.

ABOUT BREATHER
Breather is the leading provider of space-as-a-service, with its growing network of private workspaces built for productivity. Breather gives businesses access to a variety of workspace solutions on the most flexible terms – by the hour, day or month with hundreds of spaces available across 10 cities including New York, San Francisco, Los Angeles, and London. Powered by its proprietary technology, Breather makes it easy to find space for quick meetings and full-day offsites, or longer-term solutions for your entire office. Learn more and explore spaces at Breather.com.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2017, it held $298.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

For further information: Breather, Sarah S. Berman, (212) 450-7300, sberman@bermangrp.com; Caisse de dépôt et placement du Québec, Canada, Jean-Benoît Houde, Senior Advisor, Media and Public Relations, +1 514 847 5493, +1 514 652-4344, jbhoude@cdpq.com