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Cross Border Activity - November 2008
Posted in Cross Border Activity
Kodiak Venture Partners, Lucent Venture Partners, ATP Capital and CSFB Private Equity were the only US players announcing investments north of the border in November. As usual, these US VCs gravitated toward larger late-round financings. Meanwhile, ONCAP and Borealis Infrastructure Management were the large Canadian players behind November’s two cross-border M&A deals.
Details of November’s cross border activity are listed below
Kodiak Venture Partners (MA) and Lucent Venture Partners (CA) participated in a $15 raise by BTI Systems, an Ottawa-based provider of high-bandwidth networking solutions. The financing was led by Export Development Canada and involved a Canadian VC contingent made up of Vengrowth Private Equity Partners, BDC Venture Capital, GrowthWorks Capital and Primaxis Technology Ventures.
ATP Capital (NY) and CSFB Private Equity (NY) contributed to a $10 million raise by CellFor, a provider of biologically advanced seedlings to the forestry industry. The Canadian funds participating in the deal were GrowthWorks Capital and BDC Venture Capital.
Cross Border M&A
ONCAP, the mid market private equity shop operated by ONEX, was the backer for a management buyout of Caliber Collision Centers. The company operates 66 collision repair facilities in
Borealis Infrastructure Management was part of a PE consortium that acquired a 19.75% stake in Oncor Electric Delivery Co, which operates an electricity distribution and transmission system in