Kirk Falconer

Ontario Teachers’ Pension Plan (OTPP) has partnered with Alphabet Inc to form Sidewalk Infrastructure Partners (SIP), a platform for investing in and holding technology-enabled sustainable infrastructure assets. Terms weren't disclosed. SIP was spun out of Sidewalk Labs, the New York-based urban innovation business of Alphabet, Google's parent company. SIP will focus on five verticals: advanced mobility, energy, water and waste, digital infrastructure and social infrastructure. In each of the verticals, SIP will facilitate the application of technology, including artificial intelligence and machine learning, autonomous vehicles, energy management, cloud and data analytics, networking and cybersecurity.

Caisse de dépôt et placement du Québec (CDPQ) has closed an agreement to co-invest in Healthscope Ltd, a Melbourne, Australia-based private hospital operator, alongside the private equity group of Brookfield Asset Management. CDPQ will invest more than A$300 million ($269 million) to hold a minority stake in the company. In June, Brookfield completed its US$4.1 billion take-private acquisition of Healthscope, Australia's second largest private hospital operator and New Zealand's largest pathology services provider. Toronto-based Brookfield has so far raised nearly US$8 billion ($10.6 billion) for its fifth private equity fund, PE Hub Canada reported earlier this month.

EPACT Network has closed a Series A financing, raising $4.5 million, PE Hub Canada has learned. The round, which brings total funding to $12 million-plus, was co-led by Disruption Ventures, a women-focused venture firm, and Yaletown Partners, an investor in emerging-growth tech companies. Vancouver’s ePACT was founded in 2012 by CEO Christine Sommers and President and COO Kirsten Koppang Telford to provide a cloud-hosted system that converts traditional paper-based forms of emergency, health and contact information to a free e-network. It is the first Canadian investment of Disruption, launched in 2018 by Managing Partner Elaine Kunda to invest in North American early-stage companies founded and managed by women.

Temenos has agreed to acquire Kony Inc, an Austin, Texas-based digital and mobile application development company focused on the financial sector. Tenemos agreed to buy Kony for an enterprise value of US$559 million and an earn-out of US$21 million. The deal is expected to close in the fourth quarter. Tenemos, a Swiss banking software provider, said the acquisition will enhance its scale and capabilities in the U.S. market. Founded in 2007, Kony was backed by Canadian growth equity firm Georgian Partners and other investors. Last month, the company raised US$37 million of debt financing from BMO's Technology and Innovation Banking group.

TerrAscend Corp has agreed to acquire ABI SF LLC, which operates a San Francisco-based cannabis cultivation facility and owns State Flower, a cannabis flower brand. TerrAscend, a Toronto-based cannabis business, agreed to initially acquire 49.9 percent of State Flower for US$2.85 million through the conversion of a convertible debenture. It will buy the remaining stake for a price based on future revenue. In May, TerrAscend completed a private placement, raising about $70 million (US$52 million), intended in part to fund the company's U.S. acquisition strategy. TerrAscend is backed by Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.

Montréal-based digital health company Aifred Health has secured more than $490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing's proceeds will be used to validate Aifred's business model and launch its first application in partnership with local hospitals.

Canadian pension fund manager OPTrust has appointed Peter Lindley as president and CEO, effective September 16. Lindley joins from U.S. asset manager State Street Global Advisors Ltd (SSGA), where he most recently served as president and head of investments in Canada. He worked at SSGA for 14 years. Lindley replaces Hugh O’Reilly, who resigned as president and CEO of OPTrust in March. With assets of about $20 billion, Toronto-based OPTrust invests and manages OPSEU Pension Plan. It invests in private equity and infrastructure through OPTrust Private Markets Group.

Doxim has acquired Utilitec, a Troy, Michigan-based provider of data processing, e-presentment, bill payment and delivery, and other customer communications solutions for the metered services industry. No financial terms were released for the deal, which follows Doxim's acquisitions earlier this year of Market Connections Inc and MessagingDirect Ltd. Doxim, a Toronto-based provider of customer communications and engagement technology to financial and regulated markets, said the deal expands its focus on the utilities sector. Last year, U.S. private equity firm GI Partners acquired a majority stake in Doxim from Strattam Capital.

Worximity Technology, a Montréal-based smart factory analytics provider, has secured $6.25 million in a Series A financing. The round included a $5 million strategic investment by Marel, an Irish multi-national food processing company. The balance came from Worximity's existing Canadian investors Fonds de solidarité FTQ and W Investments. Founded in 2011 by CEO Yannick Desmarais, Worximity uses artificial intelligence and machine learning to enable automatic data collection, real-time monitoring, analysis and predictive insights in factory settings. The company will use the funds raised to accelerate the development of its technology and expand globally.

Lithion Power Group, a portfolio company of TriWest Capital Partners, has acquired Aved Electronics, a North Billerica, Massachusetts-based battery pack manufacturing, cable and harness assembly and electro-mechanical box-build business. Terms weren't disclosed. Established in 1979, Aved primarily serves the medical, defence, robotics and communications industries in the United States. Lithion, a Calgary-based manufacturer of lithium cells and packs for use in the oil and gas drilling sector, said the acquisition expands its product offering and industry reach. Formerly known as HPC Energy Services, Lithion secured an investment in 2018 from TriWest, a Canadian mid-market private equity firm.