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Canadian M&A Market Recap: Week Ended August 17th

  • Posted By: Andrew Schmidt, Lucas Kunicyn, Simone Aria, Shelby Canvin, and Paris Aden

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Market Update

Thirty-four Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 4.2% lower than the comparable period in 2017. The Canadian dollar appreciated by 0.07 cents, ending the week at 76 cents. The TSX underperformed the S&P 500 by 0.5% in U.S. dollar terms. WTI Crude oil fell by 2.6%, ending the week at $65.21 per barrel.

According to the Lead Left, the global M&A market remains robust 8-months through 2018, despite a number of recently cancelled transactions. Cross-border deals for the U.S. have been especially strong, with over $1 trillion worth announced, a 74% increase from last year.

 

Canadian M&A Transactions[i]

 

Materials (Announced)

U.S. LUMBER GROUP to Acquire Moulure Alexandria Moulding

U.S. LUMBER GROUP, LLC, a U.S.-based distributor of building materials in the Southeast and Mid-Atlantic, has agreed to acquire Moulure Alexandria Moulding Inc., an Industrial Opportunity Partners backed Canadian manufacturer and distributor of wood and wood composite mouldings. No transaction terms were released.

Atlas Engineered Products to Acquire Tandelle-Pacer

Atlas Engineered Products Ltd. (TSXV:AEP), a Canadian company that engineers, manufactures, and sells trusses and wood products, has agreed to acquire Tandelle-Pacer, a Canadian company that specializes in the design and pre-fabrication of engineered floor joists, floor panels, wall panels, and roof trusses. Total transaction value is estimated to be $8.6 million, implying a 4.5x EBITDA multiple and a 0.6x revenue multiple.

Ascot Resources to Acquire Jayden Resources (Canada)

Ascot Resources Ltd. (TSXV:AOT), a Canadian junior exploration company that engages in the acquisition, exploration, and evaluation of mineral properties in North America, has agreed to acquire Jayden Resources (Canada) Inc., a mineral exploration company. Jayden Resources (Canada) Inc. is a subsidiary of Jayden Resources Inc. (TSXV:JDN). Total transaction value is estimated to be $14.0 million.

Materials (Closed)

Labelink Products has Acquired Safety Seal Plastics

Labelink Products, Inc., a Canadian web printer of digital labels and flexible packaging components, has acquired Safety Seal Plastics Inc., a Canadian supplier of high impact decorative labels. No transaction terms were released.

Industrials (Announced)

Swish Maintenance to Acquire Kemsol Products

Swish Maintenance Limited, a Canadian manufacturer and distributor of sanitation and maintenance supplies, has agreed to acquire Kemsol Products Ltd., a Canadian manufacturer and distributor of janitorial supply products that include environmental products. No transaction terms were released.

Consumer Discretionary (Closed)

OBASA Capital Investments has Acquired IBC Hotels

OBASA Capital Investments Inc., a Canadian independent third-party purchaser, has acquired IBC Hotels LLC, a U.S.-based company that operates a chain of boutique hotels globally. No transaction terms were released.

Atis Group has Acquired Vitrotec Portes & Fenêtres

Atis Group Inc., a Desjardins Capital, Fondaction, Fonds de solidarité FTQ, and Cornerstone Capital Partners backed Canadian developer, manufacturer, distributor, and installer of windows, doors, and other products has acquired Vitrotec Portes & Fenêtres Inc., a Canadian retailer and installer of doors and windows. No transaction terms were released.

Healthcare (Announced)

Paragon Blockchain to Acquire CareX Blockchain

Paragon Blockchain Inc., a Canadian blockchain platform supporting supply chain management, has agreed to acquire CareX Blockchain Platform Inc., a U.S.-based company that allows patients to control their health records and purchase healthcare services. Total transaction value is estimated to be $400 thousand.

Healthcare (Closed)

Avicanna has Acquired Santa Marta Golden Hemp

Avicanna Inc., a Canadian developer and manufacturer of cannabinoid-based products, including capsules, patches, creams, and oil tincture, has acquired Santa Marta Golden Hemp S.A.S., a Colombian federally licensed and vertically integrated cannabis company. No transaction terms were released.

Financials (Announced)

Baymount to Acquire Blue Nordic Partners

Baymount Incorporated (TSXV:BYM.H), a Canadian company that provides consulting, accounting, and advisory services, has agreed to acquire Blue Nordic Partners Inc., a Canadian holding company that offers corporate advisory services. No transaction terms were released.

Financials (Closed)

Travelers has Acquired Zensurance

The Travelers Companies, Inc. (NYSE:TRV), a U.S.-based provider of commercial and personal property and casualty insurance products, has acquired Zensurance Inc., a Plug and Play Tech Center, Ferst Capital Partners, Ryerson Futures, Portag3 Ventures, and Bradford Brown Capital backed Canadian provider of online commercial insurance brokerage services for start-ups and small businesses. No transaction terms were released.

Information Technology (Closed)

Quebecor has Acquired Le Guide de l'auto

Quebecor Inc. (TSX:QBR.B), a Canadian telecommunications, media, and sports and entertainment company, has acquired Le Guide de l'auto, a Canadian company that offers news, reviews, exclusive videos, and other important details concerning new and used vehicles. 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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