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  • Canadian Private Market Recap: June 26

    Posted By: Ari Cuperfain

    Rogers Communications dominated the Canadian private market M&A stage last week with the purchase of Mobilicity for $465 million. The cleantech industry was also active, with BluEarth purchasing a fourth power plant from Canadian Solar, and receiving an add-on investment from OTPP. Lastly, Acasta Enterprises and Crown Capital Partners look to raise funds through IPOs.

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  • The Geek’s Reading List: June 26

    Posted By: Brian Piccioni

    Highlights from this week's tech report include drones, facial recognition technology and Tesla. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: June 19

    Posted By: Ari Cuperfain

    Foreign private equity interest in the Canadian middle market continued to drive deal activity over the past week. U.S. private equity firm buyers accounted for three Canadian mid-market acquisitions. Additionally, both Shred-It and Sleep Country Canada, two portfolio companies owned by Birch Hill Equity Partners, are considering the launch of their respective IPOs.

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  • The Geek’s Reading List: June 19

    Posted By: Brian Piccioni

    Highlights from this week's tech report include autonomous vehicles, robots and DNA. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: June 12

    Posted By: Ari Cuperfain

    The major story of the week was CPPIB’s acquisition of GE Capital’s private equity lending arm Antares Capital. The $12 billion deal will establish the CPPIB as a major lender for middle-market private debt. Aside from the GE deal, the Canadian M&A mid-market was fairly active this past week, driven by both private equity investors and industry consolidators. For more information, continue reading.

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  • The Geek’s Reading List: June 12

    Posted By: Brian Piccioni

    Highlights from this week's tech report include Tesla batteries, mobile advertisements and the impending impact of driverless cars on the Canadian economy. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Mid-Market M&A by Deal Size

    Posted By: Ari Cuperfain

    Historically, the majority of Canadian transactions valued between US$5-500 million fall in the US$5-50 million range by deal count. Since 1Q 2012, 55-70% of transactions were in the US$5-50 million range, 23-39% of deals were in the US$50-250 million range, and only 2-8% of mid-market deals were in the US$250-500 million range. While deal activity was low in 1Q 2015, the share of activity from deals worth less than $50 million was at the high end of the historical range and has been trending upward for the last three quarters.

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  • Canadian Mid-Market M&A: Acquirer Origin

    Posted By: Ari Cuperfain

    Canadian companies and investment funds remain by far the most active acquirers within the Canadian middle-market, representing approximately 80% of acquisitions by deal count. Due to the volatility of acquisitions by foreign entities, the share is expressed as a 12-month trailing average in the chart above. Not surprisingly, U.S. entities are the most active of foreign acquirers in the Canadian mid-market, owing to its robust M&A market, and our long-standing economic interdependence.

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  • Canadian Mid-Market M&A by Industry

    Posted By: Ari Cuperfain

    The most striking change with the Canadian middle-market industry breakdown is in the commodity sectors. Energy deals made up a mere 7.8% of 1Q 2015 Canadian mid-market transactions by deal count. Our data dates back to 1Q 2000, and 1Q 2015 activity had the lowest contribution from the energy industry in any recorded quarter. With low oil prices and the resulting pressure on strategic capital, industry consolidators within the energy sector have slowed their activity significantly. The slowing of deal activity in this sector has had a major impact on the Canadian market as a whole, including mid-market M&A.

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  • Canadian Private Market Recap: June 5

    Posted By: Ari Cuperfain

    Last week’s activity in the Canadian private market included a number of cross-border transactions, led by both private equity firms and industry consolidators. The trend of strong performance for Canadian businesses choosing to go public in the U.S. market continued with DAVIDsTEA’s NASDAQ IPO on Friday. Here are the major deals for the week.

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  • Canadian Mid-Market M&A by Quarter

    Posted By: Ari Cuperfain

    Canadian M&A activity is off to a slow start this year in both deal count and total volume. The Canadian economy has been poor due to crippling oil prices in light of Canada’s resource-heavy economy. As will be discussed in the 1Q 2015 analysis by industry, Energy deals were down by 55% compared to 1Q 2014.

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  • Canadian Mid-Market M&A: Global Context

    Posted By: Ari Cuperfain

    Globally, M&A activity for transactions in the US$5-500 million range was slower in the first quarter of 2015. The aggregate transaction value reached $163.4 billion in 1Q 2015, down 7.5% from $176.7 billion in 1Q 2014. Annual transaction value increased in 2014 to $794.0 billion, up by 11% from $712.4 billion in 2013. Transaction value for 1Q 2015 was between the first quarter numbers for 1Q 2014 and 1Q 2013, suggesting that annual global transaction value is on pace to be in the $725-775 billion range for 2015.

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  • The Geek’s Reading List: June 5

    Posted By: Brian Piccioni

    Highlights from this week's tech report include Microsoft WiFi, 3D printing and artificial organs. The Geek's Reading List is a weekly publication written by Valitas advisor, Brian Piccioni.

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  • Canadian Private Market Recap: May 29

    Posted By: Ari Cuperfain

    Last week’s activity in the Canadian private market was slow, likely due to the U.S. Memorial Day holiday to open the week. Four private market transactions of note closed last week, three of which by foreign investors. Here are the major deals for the week.

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