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Canadian M&A Market Recap: Week Ended August 10th

  • Posted By: Simone Aria, Lucas Kunicyn, Parsa Pouyan, Louis Goldberg, Paris Aden

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Market Update

Forty-six Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 8.6% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.73 cents, ending the week at 76 cents. The TSX underperformed the S&P 500 by 1.3% in U.S. dollar terms. WTI Crude oil fell by 2.3%, ending the week at $66.94 per barrel.

According to The Lead Left, private debt targeting emerging markets has been trending upward in recent years, and 2018’s total may be poised to surpass last year’s final tally of $4.42 billion, according to PDI data. Firms raised $2.32 billion through the first six months of 2018, so if capital continues to accumulate at that pace, it would mark the second straight annual increase.

Canadian M&A Transactions[i]

Energy (Closed)

TORC Oil & Gas has Acquired Villanova 4 Oil

TORC Oil & Gas Ltd. (TSX:TOG), a Canadian company that engages in the exploration and production of petroleum and natural gas in the Western Canadian Sedimentary Basin, has acquired Villanova 4 Oil Corp., a PFM Capital backed Canadian company that offers oil and natural gas exploration services. Total transaction value is estimated to be $62.1 million.

Materials (Closed)

ONCAP has Acquired Precision Valve

ONCAP Management Partners L.P., a Canadian private equity firm, has acquired Precision Valve Corporation, an Onex backed U.S.-based manufacturer of packaging dispensing systems and solutions. No transaction terms were released.

Industrials (Announced)

ENTREC to Acquire Capstan Hauling

ENTREC Corporation (TSX:ENT), a Canadian provider of heavy haul transportation and crane solutions to the oil and natural gas, construction, petrochemical, mining, and power generation industries in North America, has agreed to acquire Capstan Hauling Ltd., a Canadian provider of heavy haul transportation services in North-West Alberta and North-East British Columbia. No transaction terms were released.

Industrials (Closed)

Avante Logixx has Acquired Watermark Security

Avante Logixx Inc. (TSXV:XX), a Canadian company that through its subsidiary, Avante Security Inc., provides residential and commercial security services, has acquired Watermark Security Inc., a Canadian provider of alarm monitoring and cottage check services. No transaction terms were released.

Consumer Discretionary (Closed)

Schiefer Chopshop has Acquired Fuel Industries

Schiefer Chopshop, a U.S.-based provider of media buying, creative, public relations, branded entertainment, marketing strategy and consulting services, has acquired Fuel Industries, Inc., a Canadian developer of online branded entertainment. No transaction terms were released.

Wynnchurch Capital has Acquired Logistik Unicorp

Wynnchurch Capital, LLC, a U.S.-based private equity firm, has acquired Logistik Unicorp Inc., a Canadian provider of managed uniform programs to corporate and government organizations globally. No transaction terms were released.

ClearPier has Acquired Mpire Network

ClearPier Inc., a Canadian designer and developer of a digital marketing platform that helps users to connect with the right audience, has acquired Mpire Network Inc, a Canadian marketing company offering online advertising and campaigning services. Total transaction value is estimated to be $865 thousand.

Healthcare (Closed)

Calian Group has Acquired Priority One

Calian Group Ltd. (TSX:CGY), a Canadian company that engages in systems engineering, manufacturing, training, information technology, and health care solutions globally, has acquired Priority One Workplace Health Inc., a Canadian provider of specialized psychological assessment and selection services. No transaction terms were released.

MMJ Colombia Partners has Acquired Colcanna

MMJ Colombia Partners Inc., a Canadian company holding licenses for the cultivation, production, research and export of medical cannabis extracts, has acquired Colcanna SAS, a Colombian cultivator and producer of medicinal extracts of cannabis. No transaction terms were released.

ANI Pharmaceuticals has Acquired WellSpring Pharma Services

ANI Pharmaceuticals, Inc. (NasdaqGM:ANIP), a U.S.-based developer, manufacturer, and marketer of branded and generic prescription pharmaceuticals, has acquired WellSpring Pharma Services Inc., a Canadian pharmaceutical manufacturer. Total transaction value is estimated to be $23.4 million, implying a 0.9x revenue multiple.

The Greater Cannabis Company has Acquired Green C

The Greater Cannabis Company, Inc., an E*TRADE Asset Management backed U.S.-based company that through its subsidiary, GCC Superstore LLC, operates an online merchandise store selling cannabis products, has acquired Green C Corporation, a Canadian owner and operator of pharmaceutical products. No transaction terms were released.

Financials (Closed)

Arthur J. Gallagher has Acquired Leystone Insurance & Financial

Arthur J. Gallagher & Co. (NYSE:AJG), a U.S.-based provider of insurance brokerage, consulting, third party claims settlement and administration services to entities globally, has acquired Leystone Insurance & Financial Inc., a Canadian company that offers employee benefits and retirement consulting services. No transaction terms were released.

HUB International has Acquired Blackstone Insurance

HUB International Limited, an AlpInvest Partners and Hellman & Friedman backed U.S.-based provider of insurance brokerage services, has acquired Blackstone Insurance Inc., a Canadian company that offers employee benefits and business insurance services. No transaction terms were released.

HUB International has Acquired Benefit Broker Services

HUB International Limited, an AlpInvest Partners and Hellman & Friedman backed U.S.-based provider of insurance brokerage services, has acquired Benefit Broker Services Inc., a Canadian provider of employee benefits and pension plans. No transaction terms were released.

Information Technology (Announced)

CEN Biotech to Acquire AstralENERGY Solar Manufacturing

CEN Biotech, Inc., a Canadian company focusing on the cannabis and LED lighting businesses, has agreed to acquire AstralENERGY Solar Manufacturing Corporation, Ltd., a Canadian manufacturer of photovoltaic solar panels. No transaction terms were released.

Information Technology (Closed)

Eventbrite has Acquired Picatic E-Ticket

Eventbrite, Inc., a Sequoia Capital, T. Rowe Price, Saints Capital, Tiger Global Management, Global Founders Capital, Uncork Capital, Tenaya Capital and Y Combinator backed U.S.-based developer of a platform that allows people to find and create events, has acquired Picatic E-Ticket Inc., a CrossPacific Capital and HIGHLINE backed Canadian provider of a crowdfunding platform for the event ticketing and event management spaces. 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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