Blog

Canadian M&A Market Recap: Week Ended June 22nd

  • Posted By: Jennifer Wang, Justin McKenzie, Parsa Pouyan, Christopher Tuszynski, Paris Aden

  • |
  • Comments: 0

Market Update

Forty-eight Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 7.3% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.76 cents, ending the week at 75 cents. The TSX outperformed the S&P 500 by 0.7% in U.S. dollar terms. WTI Crude oil rose by 5.8%, ending the week at $68.58 per barrel.

According to The Lead Left, leveraged buyout activity has been keeping up a lively pace this quarter helping to drive LBO loan issuance higher. So far this quarter there has been US$23.9bn in completed LBO issuance, on par with 1Q18’s total of US$24.7bn.

Canadian M&A Transactions[i]

Industrials (Announced)

Mullen Group to Acquire Canadian Hydrovac

Mullen Group Ltd. (TSX:MTL), a Canadian company that provides transportation and oilfield services, has agreed to acquire Canadian Hydrovac Ltd., a company that specializes in providing hydro vac services to the midstream, pipeline, construction and municipal sectors. No transaction terms were released.

Materials (Closed)

Greenbank Capital has Acquired GBC Grand Exploration

Greenbank Capital Inc (OTCPK:GRNB.F), a Canadian company that, through its subsidiaries, specializes in the investment of small cap companies, has acquired GBC Grand Exploration Inc., a Canadian company that engages in the mineral exploration business. No transaction terms were released.

Consumer Discretionary (Closed)

BuyaPowa has Acquired Referral and Reward Business of RewardStream Solutions

BuyaPowa Limited, a Bright Station Ventures and Juno Capital LLP backed U.K.-based company that operates an online platform that allows users to design, launch, manage, and analyze social sales campaigns from a single integrated dashboard, has acquired RewardStream Solutions Inc., a Canadian company that is a leading provider in referral marketing solutions for telecommunications, financial services and e-commerce. Total transaction value is estimated to be $150 thousand.

Stingray Digital Group has Acquired Nextologies

Stingray Digital Group Inc. (TSX:RAY.A), a Canadian company that provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide, has acquired Nextologies Limited, a Canadian company that provides fibre, Internet protocol (IP), and satellite transmission services. No transaction terms were released.

Financials (Announced)

Canaccord Genuity Acquisition to Acquire Spark Power

Canaccord Genuity Acquisition Corp. (TSX:CGAC.UN), a Canadian company that intends to acquire businesses or assets through merger, amalgamation, arrangement, share exchange, share purchase, reorganization, or other business combinations, has agreed to acquire Spark Power Corp., a Canadian company that through its subsidiaries, engages in the development and asset management of renewable energy projects, as well as provides technical services to the high voltage power sector. No transaction terms were released.

Financials (Closed)

Western Financial Group has Acquired Axion Insurance Services

Western Financial Group Inc., a Canadian company that provides personal and business insurance services, has acquired Axion Insurance Services Inc, a Canadian company that acts as a broker for automobile, home and business needs. No transaction terms were released.

Information Technology (Announced)

Biome Grow to Acquire Weed Virtual Retail

Cultivator Catalyst Corp. (Biome Grow), a Canadian company that through its subsidiary, produces medical cannabis, has agreed to acquire Weed Virtual Retail Inc., a Canadian company that provides a multi-platform virtual catalog system designed to educate, engage and inform consumer cannabis purchases. No transaction terms were released.

PayPal Holdings to Acquire Hyperwallet Systems

PayPal Holdings, Inc. (NasdaqGS:PYPL), a U.S.-based company that operates as a technology platform that enables digital and mobile payments on behalf of consumers and merchants worldwide, has agreed to acquire Hyperwallet Systems Inc., a Primus Capital and Bratenahl Capital Partners backed Canadian company that develops online worker payout platform solutions for financial institutions and marketplace companies. Total transaction value is estimated to be $530 million.

Ellipsiz Communications to Acquire Open Decisions

Ellipsiz Communications Ltd. (TSXV:ECT), a Canadian company that provides communications services and solutions in Taiwan, has agreed to acquire Open Decisions Inc., a Canadian company that provides technological solutions that enable businesses to optimize their operations. Total transaction value is estimated to be $488 thousand.

Other (Announced)

Novacap Investments to Acquire Noble Foods Nutrition

Novacap Investments Inc., a Canadian company that is a private equity and venture capital firm specializing in investments in buyout, growth equity, and industry consolidations of middle market companies, has agreed to acquire Noble Foods Nutrition Inc., a Canadian company that manufactures nutrition and energy bars. No transaction terms were released.

Ponderous Panda Capital to Acquire Trait Biosciences

Ponderous Panda Capital Corp., a Canadian company that intends to identify and evaluate businesses or assets with a view to completing a qualifying transaction, has agreed to acquire Trait Biosciences Inc., a Canadian company that provides biotechnological solutions for the cannabis industry. No transaction terms were released.

Other (Closed)

Alexco Environmental Group has Acquired Contango Strategies

Alexco Environmental Group Inc., a Canadian company that offers environmental consulting services and site environmental management services to government and industry clients, has acquired Contango Strategies Ltd., a Canadian company that engages in consulting and remediation for environmental projects. Total transaction value is estimated to be $1.3 million.


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

Add A Comment

Confidentiality and Communications Protocols

Continue Reading

Sign Up to Receive Valitas Publications

Subscribe