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Canadian M&A Market Recap: Week Ended July 20th

  • Posted By: Just Mckenzie, Lucas Kunicyn, Andrew Schmidt, and Paris Aden

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  • Comments: 2

Market Update

Forty-six Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 7.9% lower than the comparable period in 2017. The Canadian dollar appreciated by 0.16 cents, ending the week at 76 cents. The TSX underperformed the S&P 500 by 0.6% in U.S. dollar terms. WTI Crude oil fell by 2.4%, ending the week at $68.26 per barrel.

According to The Lead Left, middle market non-sponsored issuance rose to US $27.3 billion in the Q2 of 2018, up 29% from Q1 and level with a year prior. Refinancing’s were the main driver of increased loan issuance. Corporate issuers used the strong market conditions to extend maturities and, in some cases, lower costs.

Canadian M&A Transactions[i]

Materials (Announced)

Intertape Polymer Group to Acquire Polyair Inter Pack

Intertape Polymer Group Inc. (TSX:ITP), a Canadian company that operates in the packaging industry in North America and internationally, has agreed to acquire Polyair Inter Pack Inc., a Glencore Capital backed Canadian manufacturer of protective packaging products. Total transaction value is estimated to be $192 million.

George Hackney to Acquire Schyan Exploration

George Hackney, Inc., a U.S.-based company that grows and provides container grown shrubs, woody ornamentals and perennials, and groundcovers, has agreed to acquire Schyan Exploration Inc., a Canadian company that engages in the acquisition, exploration, and development of mineral properties in Canada. No transaction terms were released.

Inca One Gold to Acquire Anthem United

Inca One Gold Corp. (TSXV:IO), a Canadian company that engages in developing gold-bearing mineral processing operations in Peru, has agreed to acquire Anthem United Inc., a Canadian company that engages in the development, construction, and operation of a gold ore processing plant in Peru. Anthem United is a subsidiary of Equinox Gold. Total transaction value is estimated to be $13.5 million.

Industrials (Announced)

Emerald Health Therapeutics to Acquire Northern Vine Canada

Emerald Health Therapeutics, Inc. (TSXV:EMH), a Canadian company that together with its subsidiaries, produces and sells medical cannabis, has agreed to acquire Northern Vine Canada Inc., a provider of quality control laboratory services on raw materials and finished products to licensed manufacturers in Canada. Total transaction value is estimated to be $10 million.

Industrials (Closed)

Total Cannabis Security Solutions has Acquired David Hyde & Associates

Total Cannabis Security Solutions Inc., a Canadian company that provides security, risk-management and compliance services to stakeholders in the regulated cannabis industry, has acquired David Hyde & Associates Inc., a Canadian company that provides security and licensing consulting services. No transaction terms were released.

Trailer Wizards has Acquired Canadian Service Plus

Trailer Wizards Ltd., a Canadian company that operates as a commercial trailer rental, leasing, sales, service, parts, and storage company, has acquired Canadian Service Plus Inc., a company that offers trucks and trailers repair and maintenance services. No transaction terms were released.

Macdonald, Dettwiler & Associates has Acquired Neptec Design Group

Macdonald, Dettwiler & Associates Corporation, a Canadian company that develops and delivers system solutions for space and terrestrial applications, has acquired Neptec Design Group Ltd., a Canadian producer of electro-optical and electro-mechanical systems for mission critical space applications. Total transaction value is estimated to be $42 million.

Premier Tech has Acquired Automation Machine Design RC

Premier Tech Ltd., a Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ backed Canadian manufacturer of horticulture and agriculture products, flexible packaging equipment, and water treatment systems, has acquired Automation Machine Design RC Inc., a Canadian company that designs and manufactures automated and robotic industrial equipment. No transaction terms were released.

Consumer Discretionary (Closed)

Southfield Capital Partners has Acquired Match Marketing Group

Southfield Capital Partners, a U.S.-based private equity firm, has acquired Match Marketing Group Inc., a Canadian company that offers shopper marketing solutions. Match Marketing was a subsidiary of Beringer Capital. No transaction terms were released.

Healthcare (Announced)

Aphria to Acquire LATAM Holdings

Aphria Inc. (TSX:APH), a Canadian company that produces, supplies, and sells medical cannabis, has agreed to acquire LATAM Holdings Inc., a Canadian producer of medical cannabis. LATAM Holdings is a subsidiary of Scythian Biosciences. Total transaction value is estimated to be $194 million.

Broome Capital to Acquire Pasha Brands

Broome Capital Inc. (TSXV:BCP), a Canadian company that engages in mining activities, has agreed to acquire Pasha Brands Ltd., a Canadian producer and distributor of licensed cannabis and cannabis related products for medical purposes. No transaction terms were released.

Healthcare (Closed)

Beleave has Acquired Seven Oaks

Beleave Inc. (CNSX:BE), a Canadian company that operates as a medical cannabis company, has acquired Seven Oaks Inc., a Canadian producer and marketer of medical cannabis. Total transaction value is estimated to be $3 million.

Edge Pharmacy Services has Acquired Apolab

Edge Pharmacy Services, LLC, a U.S.-based provider of pharmaceutical sterile and non-sterile outsourcing services for the health care community, has acquired Apolab ULC, a Canadian company that develops unit dose compounded pharmaceutical products. 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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