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Canadian M&A Market Recap: Week Ended December 7th

  • Posted By: Aaron Kwok. Kyle Johnston, Jennifer Wang, Ryan Maglalang, and Paris Aden

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  • Comments: 1

Market Update

Eighty-two Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 1.9% lower than the comparable period in 2017. The Canadian dollar appreciated by 0.03 cents, ending the week at 75 cents. The TSX outperformed the S&P 500 by 2.1% in U.S. dollar terms. WTI Crude oil rose by 3.3%, ending the week at $52.61 per barrel.

According to The Lead Left, the pace of growth for Australia’s private debt market which has long trailed behind other regions such as the US and Europe, is finally seeing an uptick. The latest data taken in March 2018, shows $920 million Australian private debt assets under management. This includes $400 million in dry powder, the largest amount Australian-based firms have held since the end of 2009, where dry powder stood at $470 million.

Canadian M&A Transactions[i]

Materials (Announced)

Atlas Engineered Products to Acquire South Central Building Systems

Atlas Engineered Products Ltd. (TSXV: AEP), a Canadian company that engineers, manufactures, and sells trusses and engineered wood products, has agreed to acquire South Central Building Systems Ltd., a Canadian manufacturer of roof trusses and floor joists. Total transaction value is estimated to be $3.4 million.

Pure Alumina to Acquire Polar Sapphire

Pure Alumina Limited (ASX: PUA), an Australian company that engages in the exploration of gold projects, has agreed to acquire Polar Sapphire Ltd., a MaRs Investment Arm, Crux Capital and ArcTern Ventures backed Canadian company that manufactures and sells high purity aluminum oxide powder. No transaction terms were released.

Materials (Closed)

Singer Equities has Acquired CONNECTALL

Singer Equities Inc., a U.S-based company that operates as an investment arm of SBP Holdings, has acquired CONNECTALL Ltd., a Canadian manufacturer of stainless-steel products. No transaction terms were released.

Industrials (Closed)

Wynnchurch Capital has Acquired Buchanan Rubber

Wynnchurch Capital LLC, a U.S-based private equity firm, has acquired Buchanan Rubber Ltd., a Canadian company that manufactures and sells industrial hoses and couplings. No transaction terms were released.

Lincoln Electric Holdings has Acquired Inovatech Engineering

Lincoln Electric Holdings Inc. (NasdaqGS: LECO), a U.S-based company that designs, manufactures, and sells welding, cutting, and brazing products internationally, has acquired Inovatech Engineering Corp., a Canadian manufacturer of integrated robotic plasma cutting machinery for structural steel applications. No transaction terms were released.

The Middleby has Acquired Crown Food Service Equipment

The Middleby Corporation (NasdaqGS: MIDD), a U.S-based company that designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment internationally, has acquired Crown Food Service Equipment Ltd., a Canadian company that designs and manufacturers steam cooking equipment for the commercial foodservice industry. No transaction terms were released.

TPC Wire & Cable has Acquired Milrail

TPC Wire & Cable Corp., an Audax Group and PNC Mezzanine Capital backed U.S-based manufacturer and distributer of wire, cables, and connectors used in harsh industrial environments, has acquired Milrail Inc., a Canadian manufacturer and supplier of wire, cable, interconnect devices, grounding systems, road/rail vehicles, tooling, and catenary products to the rail and mass transit markets. No transaction terms were released.

Consumer Discretionary (Announced)

DionyMed Brands to Acquire HomeTown Heart

DionyMed Brands Inc. (CNSX: DYME), a Canadian cannabis brand and distribution platform that designs, develops, manufactures, processes, markets, distributes, and sells a portfolio of branded cannabis products in the United States, has agreed to acquire HomeTown Heart, a Canadian company that operates as a direct-to-consumer non-retail storefront delivery dispensary. Total transaction value is estimated to be $24 million.

Consumer Discretionary (Closed)

NexTech AR Solutions has Acquired edCetra Training

NexTech AR Solutions Corp. (CNSX: NTAR), a Canadian company that develops and operates an augmented reality advertising platform for the cannabis industry, has acquired edCetra Training Inc., a Canadian company that provides a web-based platform for e-learning, online training, and XML based development for use in single sourcing strategies. Total transaction value is estimated to be $114 thousand.

KONE has Acquired Eltec Elevator

KONE Oyj (HLSE: KNEBV), a Finland-based company that engages in the elevator and escalator business, has acquired Eltec Elevator Ltd., a Canadian company that provides maintenance, repair, and modernization of elevators in residential, commercial, and institutional buildings in Metro Vancouver. No transaction terms were released.

Financials (Announced)

Equitable Group to Acquire Bennington Financial Services

Equitable Group Inc. (TSX: EQB), a Canadian company that provides various financial services to retail and commercial customers in Canada, has agreed to acquire Bennington Financial Services Corp., a Canadian company that provides financing solutions for non-prime equipment leasing to leasing brokers. Total transaction value is estimated to be $47 million.

Columbia Care to Acquire Canaccord Genuity Growth

Columbia Care LLC, a U.S-based company that develops, manufactures, and markets medical marijuana products, has agreed to acquire Canaccord Genuity Growth Corp., a Canadian special purpose acquisition corporation. No transaction terms were released.

Financials (Closed)

Nasdaq has Acquired Quandl

Nasdaq Inc. (NasdaqGS: NDAQ), a U.S-based company that provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services internationally, has acquired Quandl Inc., a Canadian company that operates a data platform providing financial, economic, and alternative datasets for investment professionals. No transaction terms were released.

Information Technology (Announced)

Valsoft to Acquire CMS Hospitality

Valsoft Corp., a Canadian principal investment firm, has agreed to acquire CMS Hospitality, an Australian company that provides software systems to the hospitality industry. No transaction terms were released.

Information Technology (Closed)

Coreio has Acquired Tony Grice & Associates

Coreio Inc., a Canadian provider of IT infrastructure and operations solutions for enterprise clients, has acquired Tony Grice & Associates Inc., a Canadian company that provides IT consulting services. No transaction terms were released.

ComplyWorks has Acquired Ariscu

ComplyWorks Ltd., a Canadian company that offers compliance management solutions that connect individuals, contractors, and suppliers with employing companies, has acquired Ariscu, a Canadian company that provides EHS management software solutions. No transaction terms were released.

RA Outdoors has Acquired Mission Management Information Systems

RA Outdoors LLC, a U.S-based company that provides cloud-based reservation and licensing technologies to public and private campgrounds, parks, and conservation agencies by connecting them with outdoor adventure seekers, has acquired Mission Management Information Systems Inc., a Canadian company that develops property management, reservation, and registration software for RV parks and campgrounds in North America. No transaction terms were released.

ECi Software Solutions has Acquired Print Audit

ECi Software Solutions Inc., an Apax Partners and The Carlyle Group backed U.S-based developer and provider for cloud-based and on-premise business management software solutions, has acquired Print Audit Inc., a Canadian company that develops and delivers print tracking and auditing software. No transaction terms were released.

Other (Closed)

Coinsquare has Acquired BlockEQ

Coinsquare Ltd., Canada’s largest cryptocurrency trading platform, has acquired BlockEquity Inc., a Canadian provider for non-custodial wallets that allow crypto users to store XLM and other tokens that run on the Stellar network. Total transaction value is estimated to be $12 million.

Delrey Metals has Acquired Vanadium

Delrey Metals Corp. (CNSX: DLRY), a Canadian company that explores mineral properties in Canada, has acquired BC Vanadium Corp., a mining and technology company that specializes in vanadium and speciality metals. Total transaction value is estimated to be $1.9 million.


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

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