Kirk Falconer

TerrAscend Corp has agreed to acquire Ilera Healthcare, a Plymouth Meeting, Pennsylvania-based medical cannabis cultivator, processor and dispensary operator. In a separate release, TerrAscend, a Toronto-based cannabis business, said the total consideration of the cash-and-stock deal is between US$125 million and US$225 million. It is targeted to close in Q4 2019. In May, TerrAscend completed a private placement, raising about $70 million (US$52 million). The proceeds were intended in part to back the company's U.S. acquisition strategy. TerrAscend is a portfolio company of Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.

Caisse de dépôt et placement du Québec  (CDPQ) and Fengate Asset Management have made an additional investment in eStruxture Data Centers Inc, a Montréal-based provider of network and cloud-neutral data centre solutions. Terms weren't released for the deal, which will support eStruxture's growth strategy, focused on acquisitions, the expansion of existing data centres, and the construction of new data centres. The proceeds enabled the company's purchase of the assets of the Calgary-1 data centre from Shaw Communications Inc, announced this month. Launched in 2017, eStruxture today serves more than 900 customers. CDPQ first invested two years ago, while Fengate joined as a co-lead investor in 2018.

Catalyst Capital Group has amended its cash offer to buy common shares of Canadian retailer Hudson's Bay Co (TSX: HBC) at a price of $10.11 per unit. Catalyst increased the maximum number of shares to be acquired to 19.8 million, or about 10.75 percent of issued and outstanding shares. The amended offer reflects a total value of $200 million. Last month, the Canadian private equity firm offered to buy up to 14.8 million shares, reflecting a value of $150 million. Catalyst is taking the step to block the proposed $1.74 billion take-private acquisition of Hudson's Bay, announced in June. It said the proposal undervalues the business and is detrimental to minority shareholders.

Brookfield Asset Management has offered to acquire Aveo Group Ltd, a Sydney, Australia-based retirement-home operator, for A$1.27 billion (US$859.4 million) in cash, according to a report by Reuters. Aveo, which in July said Brookfield was the preferred party in the company's strategic review process, disclosed the offer this week. The deal would give Brookfield a sizeable chunk of Australia’s aged-care industry, which has seen its valuations slide to attractive levels in the wake of a public inquiry into mistreatment and abuse of residents in facilities, Reuters said.

GFL Environmental Inc, a Toronto-based waste management company, has acquired the Vancouver Island solid waste operations of Evergreen Industries Ltd, an affiliate of Victoria-based Alpine Group. No financial terms were disclosed. Alpine's operations on Vancouver Island include solid waste and recycling collection and hauling, storage container rentals, as well as recyclable materials drop-off and sorting centres in Victoria and Nanaimo. GFL was recapitalized last year by an investor group led by BC Partners, Ontario Teachers’ Pension Plan (OTPP) and others in a $5.1 billion deal. In July, the company filed for an initial public offering in Canada and the United States.

BDC Capital has provided $2.9 million of mezzanine financing to Renaissance Repair and Supply, an Ottawa-based telecommunications network equipment repair and re-manufacturing specialist. The financing, BDC's fifth involving Renaissance since 2009, was undertaken by the Growth and Transition Capital group. Director Robert Shaw led the transaction. Established in 2004 and led by President and CEO Len Anderson, Renaissance serves Canadian and U.S. carrier and integrator customers. It has a second office in Dallas. The company will use the deal's proceeds for growth, long-term working capital needs, and to refinance a number of smaller loans.

A special committee of the board of Hudson’s Bay Co (TSX: HBC) said the proposed $1.74 billion take-private acquisition of the Canadian retailer is "inadequate" based on an initial analysis. The proposal, announced in June, came from a group of shareholders led by Executive Chairman Richard Baker. The group owns a combined 57 percent stake in Hudson's Bay. The committee also said it is not yet able to make a recommendation on an offer by Catalyst Capital Group to buy up to $150 million worth of Hudson's Bay's shares. It advised shareholders to "exercise caution". The offer by the Canadian private equity firm, announced this month, was made to oppose the Baker-led privatization initiative.

Toronto-based workplace safety software-as-a-service provider eCompliance has received a $40 million majority investment from Alcumus Holdings Ltd, a portfolio company of Inflexion, a U.K. mid-market private equity firm. The seller was High Park Capital Partners, a Canadian search fund. High Park acquired eCompliance in 2012. Adrian Bartha, CEO of eCompliance and co-founder of High Park, will continue to lead the business, which will operate as the North American arm of Alcumus. Based in Cardiff, United Kingdom, Alcumus is a provider of technology-enabled business assurance and compliance risk management solutions. Inflexion acquired the company in 2015 from Sovereign Capital.

Brookfield Asset Management is in talks to acquire a 30 percent interest in BRK Ambiental, a Brazilian water distribution, collection and treatment company, sources told Reuters. A deal could value the stake at US$520 million, the report said. It is currently held by workers severance fund FGTS, which is managed by Caixa Economica Federal, a Brazilian state bank. In 2017, Brookfield's private equity group acquired a 70 percent interest in BRK, then known as Odebrecht Ambiental. The transaction reflected a total investment of US$908 million.