Q-News Private Equity

December 2009

Private Equity - November 2009

Posted in Private Equity

In terms of financing, November was without a doubt the worst month we have ever reported on in our newsletter.  We came across only two reported financings of private Canadian companies.  The lowest deal total we had ever seen prior to this November was six, which we have seen four times, all during the course of the last ten months.  The two “hotbeds” of activity this November were Ontario and Saskatchewan, with one deal each.  The two financings were both very small transactions, amounting to only $2.4 million in new capital.  The financing amount was also a new low as the weakest figure we had seen prior to this was $7.9 million, which was reported in June of this year.  For comparison’s sake, in November of 2008 we reported......

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November 2009

Private Equity - October 2009

Posted in Private Equity

There were 14 financings reported this October.  13 of the announcements divulged the actual size of the investments – which added up $102.4 million in new capital.  The numbers were strong when compared to the ten deals and $50.1 million announced this September or the nine deals and $53.1 million announced in October 2008.  Nonetheless, the figures were still below the 15 deals and $123.0 million announced in October 2007, prior to the problems that beset the financial markets in 2008.  Most of the funding this month went to Ontario-based deals which accounted for eight of the transactions, including four of the five largest financings.  The rest of the announcements came from Quebec and British Columbia, which saw four and two transactions respectively.  Eleven of the raises involved high-tech companies with the other three financings going to a drug developer and two manufacturers.

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October 2009

Private Equity - September 2009

Posted in Private Equity

During the month of September, 10 companies reported completed financings with eight of these including details on the amount of capital actually raised, which totaled $50.1 million.  These results are a far cry from the 14 transactions and $230.6 million announced in September 2008.  However, the 10 transactions this month represented the second highest number of deals we have seen in any one month over the course of the past year.  Seven of the ten transactions took place in Ontario while Alberta, Quebec, and Newfoundland accounted for one transaction apiece.  Technology companies accounted for seven of the financings while a cleantech, a telecom and a consumer product food company accounted for the remaining three.  Canadian investors followed a similar pattern with their investments into the US market where they made three technology-driven investments and one in the cleantech space.

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September 2009

Private Equity - August 2009

Posted in Private Equity

There were six financings reported in August.  Financial terms were announced for five of those transactions, totaling $90.4 million.  Depending on whether one focuses on the number of deals or the actual amount of new capital, the totals can be seen as either an improvement or a drop off from the 13 transactions and $67.7 million raised during the same month last year.  Over half of the capital invested in August, or $50 million, went to a biotech firm while $22 million and $15.5 million were invested in an alternative energy company and a logistics company respectively.  The three smaller transactions all took place in Ontario and involved two technology companies as well as a tire recycling business.

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August 2009

Private Equity - July 2009

Posted in Private Equity

There were nine financings announced in July.  The actual amount of capital raised was only disclosed in four of the transactions and it totaled $41.5 million.  It was an improvement over the record-setting lows from June, when we only saw six transactions and a reported figure of only $6.9 million in new capital.  Having said that, the figures are still a considerable drop-off from the 14 transactions and $132.8 million in capital injections recorded last July.  Three of the announcements last month came out of Montreal, two out of Vancouver, two out of Ontario (Toronto and Ottawa), and one out of each Calgary and Newfoundland.  Interestingly enough, besides a biofuel company and another company in the biotech space, all of the businesses receiving capital this July can be classified as technology plays.  The three cross-border financings we recorded this month match the total from the prior three months.  In total there were four different US VCs making news north of the border.

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July 2009

Private Equity - June 2009

Posted in Private Equity

There were six financings announced in June.  Only four of the announcements disclosed the actual amount of capital raised as part of the financing.  The total amount of reported new capital raised through these four transactions was $7.9 million.  The figure is considerably lower than the $143.4 million in new capital (and 16 transactions) announced in June of 2008. It is also the lowest dollar figure that we have ever reported as part of our monthly newsletter.  The lowest total to date was actually reported one month ago when we saw six transaction and $20.6 million in new capital.  We were tempted to pad the numbers this month, in order to make the totals look more positive, by accounting for.....

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June 2009

Private Equity - May 2009

Posted in Private Equity

May was another quiet month on the financing front.  Six companies reported raising an aggregate of $20.6 million in new capital.  The numbers were a considerable drop off from the $71 million in new capital and 16 transactions reported in May 2008, the $48 million raised through eight financings in May 2007, the $159 million raised through 20 financings in May 2006, and the $433 million raised in 34 deals in May 2005.  Three of the transactions involved companies located in Ontario, two in Alberta and one in Montreal.  As with the preceding month, most of the money flowed to the technology sector, in which four financings were completed.  The other two deals involved a clean technology company and one offers a loyalty rewards program.  MMV Financial was the only Canadian fund making news south of the border with an investment in Georgia-based PriveRevenue.

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May 2009

Private Equity - April 2009

Posted in Private Equity

During April, seven private Canadian companies reported raising $50.2 million in new capital which is a nice improvement over the seven deals and $26 million in new capital reported in April of 2008.  To put that in perspective though: in April of 2007, 15 companies reported raising a total of $110.6 million; and in April of 2006 there were 20 reported financings, totaling $192 million in new capital.  Three of the announcements this April came out of Ontario, two announcements come out of Quebec while the remaining two transactions took place in Manitoba and British Columbia.  Five of the financings involved technology companies, with three of those being in the software space.  The largest raise of the month was completed by Teradici, a fabless semiconductor company operating out of BC.  Interestingly enough, there were four transactions involving Canadian investors putting money in US companies, while there were no deals involving American players investing north of the border.  

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April 2009

Private Equity - March 2009

Posted in Private Equity

There were eight private equity financings reported this March, totaling $77.7 million in new capital.  The figures look reasonably good when compared to the 10 transactions and $53.0 million in growth capital reported last March.  The numbers are also a welcome change from the meager $23.4 million reported in February, when there were only six transactions.  Most of the activity took place in Ottawa, Calgary and British Columbia, with each region reporting two transactions.  The other two deals came out of Montreal and Nova Scotia.  Six of the investments were in the technology space and two of those were software plays.  There were three transactions involving US VCs, including the month’s largest financings, which were secured by Zoom Media and OneChip Photonics.

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March 2009

Private Equity - February 2009

Posted in Private Equity

There were 6 deals announced in February, with reported financings totaling $23.4 million. These results were considerably weaker than last February’s total of 10 investments raising $61 million.  Last month’s total is actually the lowest figure we have seen since we started covering the private equity market on our website in early 2002. 

 

Fully one half of the new money reported last month came from one transaction – an $11.7 million financing closed by Wavesat.  In terms of geographic location, three transactions took place in Ontario, two in Quebec and one in BC.  Five of the six companies receiving capital were in the technology space. 

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