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Angus Reid cuts ties to Vision Critical as $76-million secondary deal closes

Employees work at the Vision Critical offices in Vancouver, in this file photo.

Rafal Gerszak/The Globe and Mail

W Capital Partners and Georgian Partners have closed a $76-million purchase of stock in Vancouver marketing software firm Vision Critical Communications Inc. from existing investors, including ex-CEO Angus Reid.

The deal – revealed Monday by the Globe – ends a tumultuous chapter for the private firm. Mr. Reid will get $44-million for his shares and give up his two board seats to New York-based W Capital. Georgian has been an investor since 2014. BMO Capital Markets and Osler Hoskin & Harcourt LLP advised Vision Critical's board on the deal.

"Vision Critical is fortunate to have two highly respected financial partners who will help guide it through its next chapter," said Mr. Reid, who runs an eponymous non-profit market research institute.

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Vision Critical chairman Phil Deck said: "We have successfully found a way to provide the liquidity that long-term investors have sought while strengthening our investor base for growth."

Mr. Reid's son, founder Andrew Reid, remains a shareholder. He left last year to build another startup.

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About the Author

Sean Silcoff joined The Globe and Mail in January, 2012, following an 18-year-career in journalism and communications. He previously worked as a columnist and Montreal correspondent for the National Post and as a staff writer at Canadian Business Magazine, where he was project co-ordinator of the magazine's inaugural Rich 100 list. More

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