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Canadian M&A Market Recap: Week Ended May 11th

  • Posted By: Parsa Pouyan, Christopher Megraw, Andrew Schmidt, Miranda Li, Paris Aden

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Market Update

Seventy-seven Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 6.7% lower than the comparable period in 2017. The Canadian dollar appreciated by 0.43 cents, ending the week at 78 cents. The TSX underperformed the S&P 500 by 0.2% in U.S. dollar terms. WTI Crude oil rose by 1.4%, ending the week at $70.70 per barrel.

According to The Lead Left, most banks reported their lending standards remained unchanged in the Federal Reserve Senior Loan Officer Opinion Survey. Nearly one fifth of banks reported weaker loan demand, while 13% reported easing and only one reported tightening on terms to large firms.​

 

Canadian M&A Transactions[i]

Industrials (Announced)

OMERS to Acquire Alexander Mann Solutions

OMERS Private Equity Inc., a Canadian private equity firm, has agreed to acquire Alexander Mann Solutions Ltd., a New Mountain Capital backed UK-based company that provides talent acquisition and management services to organizations. No transaction terms were released.

AQ Group to Acquire B3CG Interconnect

AQ Group AB (OM:AQ), a Swedish manufacturer and seller of components and systems for industrial customers, has agreed to acquire B3CG Interconnect Inc., a Canadian manufacturer of electric cables and harnesses for the ground transportation, medical equipment, electro-mechanical systems, and telecommunications industries. Total transaction value is estimated to be $19.6 million.

Industrials (Closed)

Metro Supply Chain Group has Acquired Total E-com Home Delivery

Metro Supply Chain Group Inc., a Canadian third-party logistics services company, has acquired Total E-com Home Delivery Inc., a Canadian home delivery services company. No transaction terms were released.

Dillon Consulting has Acquired Ricor Engineering

Dillon Consulting Limited, a Canadian design and consulting company for facility, environment, community development, and infrastructure services, has acquired Ricor Engineering Ltd., a Canadian engineering firm for municipal and land development infrastructure clients. No transaction terms were released.

Samuel, Son & Co. has Acquired CAID Industries

Samuel, Son & Co., Limited, a Canadian processor and distributor of metals, has acquired CAID Industries Inc., a U.S.-based fabricator that provides precision machining services, mining and mineral processing technologies, and engineered systems. No transaction terms were released.

Exchange Income has Acquired Wasaya Airways

Exchange Income Corporation (TSX:EIF), a Canadian company that engages in aerospace and aviation services, equipment, and manufacturing, has acquired Wasaya Airways LP, a Canadian company that offers personal and cargo flights in Northern Ontario. Total transaction value is estimated to be $25 million.

Consumer Discretionary (Closed)

Lynx Equity has Acquired Flooring Solutions

Lynx Equity Limited, a Fengate Capital Management, Windsor Private Capital, and Labourers' Pension Fund of Central and Eastern Canada backed Canadian private equity firm, has acquired Flooring Solutions Inc., a U.S.-based flooring products distributor. No transaction terms were released.

Studiothink has Acquired Thornley Creative Communications

Studiothink LLC, a Canadian marketing company, has acquired Thornley Creative Communications, a Canadian advertising, branding, and marketing company. No transaction terms were released.

FDF Restaurant Brandz has Acquired Famoso Neapolitan Pizzeria

FDF Restaurant Brandz, a Canadian restaurant franchiser, has acquired Famoso Neapolitan Pizzeria Inc., a Canadian pizzeria chain. No transaction terms were released.

Medike Branding Solutions has Acquired Landes

Medike Branding Solutions Inc., a Canadian manufacturer of leather, synthetic, and specialty patches and trim for the apparel industry, has acquired Landes Holding GmbH, a VR Equitypartner backed German manufacturer of leather belts and imitation leather for the fashion industry. No transaction terms were released.

Consumer Staples (Announced)

Henkel Canada to Acquire JemPak

Henkel Canada Corporation, a Canadian manufacturer of consumer goods, beauty care, and adhesive products, has agreed to acquire JemPak Corporation, a Canadian manufacturer of private label products. JemPak was a subsidiary of Acasta Enterprises (TSX: AEF). Total transaction value is estimated to be $118 million.

Consumer Staples (Closed)

Lynx Equity has Acquired Blind Bay Village Grocers

Lynx Equity Limited, a Fengate Capital Management, Windsor Private Capital, and Labourers' Pension Fund of Central and Eastern Canada backed Canadian private equity firm, has acquired Blind Bay Village Grocers Ltd., a Canadian retailer of groceries, liquor, and fuel. No transaction terms were released.

Healthcare (Announced)

ChroMedX to Acquire UX Data Sciences

ChroMedX Corp. (CSE:CHX), a Canadian medical technology company that engages in the research, development, and manufacturing of in vitro diagnostics and point-of-care technologies, has agreed to acquire UX Data Sciences Corp., a Canadian medical technology and data science company that designs and develops UX-centric products and solutions. Total transaction value is estimated to be $5.5 million.

Radiant Health Care to Acquire Tanta Therapeutics

Radiant Health Care Inc., a Canadian healthcare asset company with a focus on medical cannabis, has agreed to acquire Tanta Therapeutics Inc., a Canadian manufacturer of pharmaceuticals and distributer of over-the-counter drugs and medical devices. No transaction terms were released.

Healthcare (Closed)

VIVUS has Acquired Willow Biopharma

VIVUS Inc. (Nasdaq:VVUS), a U.S.-based biopharmaceutical company that develops and commercializes therapeutic products, has acquired Willow Biopharma Inc., a Canadian specialty pharmaceutical company. No transaction terms were released.

Financials (Closed)

Three Holdings has Acquired South Western Insurance Group

Three Holdings Inc., a Canadian insurance brokerage company, has acquired South Western Insurance Group Limited, a Canadian wholesale insurance company that operates as a managing general agent offering solutions for specialty and niche businesses. South Western Insurance Group was a subsidiary of Canadian Broker Network. No transaction terms were released.

HUB International has Acquired Les Avantages Sociaux Delta

HUB International Limited, an AlpInvest Partners and Hellman & Friedman backed U.S.-based full-service insurance broker, has acquired Les Avantages Sociaux Delta Inc., a Canadian insurance and pension plan brokerage service company. No transaction terms were released.

Archway Insurance has Acquired Bay Insurance & Financial

Archway Insurance Inc., a Canadian personal and business insurance broker, has acquired Bay Insurance & Financial, a Canadian insurance brokerage that provides auto, home, marine, business, life, health, travel, and disability insurance. No transaction terms were released.

iBrands has Acquired Trinity Conglomerate

iBrands Corporation Inc. (OTCPK:IBRC), a U.S.-based diversified holdings company, has acquired Trinity Conglomerate Ltd, a Canadian asset management company with a focus on growth industries. No transaction terms were released.

Information Technology (Closed)

TELUS Health Solutions has Acquired Symbility Health

TELUS Health Solutions GP, a Canadian healthcare technology company, has acquired Symbility Health Inc., a Canadian healthcare company that develops web-based application software solutions. Symbility Health was a subsidiary of Symbility Solutions (TSX.V:SY). Total transaction value is estimated to be $16.5 million.

Javelin Technologies has Acquired Cimetrix Solutions

Javelin Technologies Inc., a Canadian company that offers 3D design engineering, data management, automation and additive manufacturing services, has acquired Cimetrix Solutions Inc., a Canadian manufacturer of additives and laser scanning systems. No transaction terms were released.

Eddyfi Technologies has Acquired M2M

Eddyfi Technologies, a Caisse de dépôt et placement du Québec backed Canadian company that provides high-performance non-destructive testing and inspection solutions, has acquired M2M, a French company that develops and manufactures phased array ultrasonic testing instruments for non-destructive testing. No transaction terms were released.

Calligo has Acquired Mico Systems

Calligo Limited, an Investcorp Bank and Ti23 backed Jersey-based cloud services company, has acquired Mico Systems Inc., a Canadian IT company that offers project management and cloud services. No transaction terms were released.

Other (Closed)

Puration has Acquired Canadian Cannabis Farmers Co-Op

Puration, Inc. (OTCPK:PURA), a U.S.-based company that designs, develops, produces, markets, and distributes personal water purification products, has acquired Canadian Cannabis Farmers Co-Op, a cannabis company. No transaction terms were released.

Cannabis Compliance has Acquired NHP Consulting

Cannabis Compliance Inc., a Canadian compliance consulting company that offers risk mitigation, due diligence, and regulatory compliance, has acquired NHP Consulting Inc., a Canadian company that provides licensing and product development services to natural health products, cosmetics, food, medical device, and pharmaceutical industries. No transaction terms were released.


[i] Includes all M&A transactions in which either the target or buyer is a Canadian private company.

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