On March 21, 2016, a group led by Norwest Venture Partners and including Georgian Partners and BMO Financial Group acquired a significant equity interest in Medgate Inc. (Medgate). Several members of Medgate management remain equity-holders in the company. Financial terms of the deal were not disclosed.
Medgate is a Toronto-based software company, providing subscription software used by companies with respect to environmental, health and safety audits and has been in the business for 30 years. Medgate also operates in the US, the UK and Australia.
Norwest Venture Partners is a global venture and growth equity investment firm headquartered in Palo Alto, California. Georgian Partners is a Toronto-based growth equity firm that invests in business software companies.
Norwest was represented in the US by Goodwin Procter LLP, with a team led by William Davisson and including Luke Rachlin, Naina Bhadra, Fred Lim and Ashley Simms. In Canada, Norwest was represented by Blake, Cassels & Graydon LLP with a team led by John-Paul Bogden and including Arash Amouzgar, Lindsay Clark and Patrick Whitehill (corporate), Paul Stepak and Ian Caines (tax), Simon Finch, Niki Khatami and Shubhreen Kaur (financial services), Holly Reid and Lindsay McLeod (employment and benefits), Emma Costante (competition) and Bruce Rose-Innes (IP).
Medgate was represented by Fasken Martineau DuMoulin LLP with a team led by Craig Brown and including Brad Freelan, Jessica Catton Rinaldi, Will Shaw, Reid Crombie, Ryan Mapa and David Steinhauer (corporate), Mitchell Thaw (tax), John Beardwood, Armand Benitah and Christelle Gedeon (IT and IP), Christina Hall and Christian Paquette (labour and employment), and Murray Braithwaite (research). For US matters, Medgate was represented by Taft Stettinius & Hollister LLP with a team led by Ralph Caruso (corporate).
BMO Financial Group provided acquisition financing to Norwest as well as an equity investment, and was represented by Davies Ward Phillips & Vineberg LLP with a team including Joel Scoler, William Buchner and Devon Comstock (financial services), Josh Kuretzky (corporate), and Raj Juneja and Chris Anderson (tax).