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Canadian M&A Market Recap: Week Ended November 9th

  • Posted By: Andrew Ho, Aaron Kwok, Hamzah Rizvi, Chris Angelatos, and Paris Aden

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Market Update

Seventy-eight Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 3.0% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.54 cents, ending the week at 76 cents. The TSX underperformed the S&P 500 by 1.8% in U.S. dollar terms. WTI Crude oil fell by 4.7%, ending the week at $60.19 per barrel.

According to The Lead Left, a recent poll of fund managers and investors predict that the private debt market is set to double in size, reaching $1.4 trillion in 2023. In doing so, private debt will overtake the real estate market to become the third largest alternative industry, after private equity and hedge funds.
 

Canadian M&A Transactions[i]

Industrials (Announced)

On Side Restoration Services to Acquire STRONE

On Side Restoration Services Ltd., a Canadian company that provides restoration services to damaged homes and businesses, has agreed to acquire STRONE Inc., a Canadian company that provides residential and commercial emergency and restoration services to the insurance industry. No transaction terms were released.

Industrials (Closed)

Stuart Olson has Acquired Tartan Canada

Stuart Olson Inc. (TSX:SOX), a Canadian company that provides general and electrical building systems contracting to the institutional and commercial construction markets in Canada, has acquired Tartan Canada Corporation, a Banyan Capital Partners backed company that provides industrial energy services to energy, utilities, and processing sectors in Western Canada. Total transaction value is estimated to be $12.0 million.

Morgan Canada has Acquired Multivans

Morgan Canada Corporation, a company that manufactures truck bodies, has acquired Multivans Inc., a Canadian manufacturer of commercial truck bodies. No transaction terms were released.

The Riverside Company has Acquired SureWerx

The Riverside Company, a U.S.-based private equity firm, has acquired SureWerx, a Canadian company that develops and supplies professional tools, equipment, and safety products for workers across North America. No transaction terms were released.

Consumer Discretionary (Announced)

Success Universe Group to Acquire Jade Travel Group

Success Universe Group Limited (SEHK:487), a Hong Kong-based investment holding company that engages in travel related and property investment businesses in China and North America, has agreed to acquire Jade Travel Group, a Canadian company that provides travel agency services. Total transaction value is estimated to be $1.3 million.

Consumer Discretionary (Closed)

Athlete Hub has Acquired Infinite Journey Company

Athlete Hub LTD, a Canadian company that develops software to connect athletes and fans, has acquired Infinite Journey Company Limited, a Thailand-based company that provides travel agency services. No transaction terms were released.

Consumer Staples (Closed)

Viterra has Acquired Pacific Coast Canola

Viterra Inc., a Canadian company that handles, processes, distributes, transports, and markets grains and oilseeds internationally, has acquired Pacific Coast Canola LLC, a U.S.-based company that processes and produces canola oil in the United States. No transaction terms were released.

Financials (Announced)

CAA to Acquire Echelon Insurance

CAA Club Group, a Canadian company that provides roadside assistance, travel, and insurance services; and member savings for its members, has agreed to acquire Echelon Insurance, a Canadian company that provides commercial and personal lines insurance products in Canada. Total transaction value is estimated to be $175.0 million.

Financials (Closed)

HUB International has Acquired Proteus Performance Management

HUB International Limited, a Hellman & Friedman backed U.S.-based company that provides insurance brokerage services, has acquired Proteus Performance Management Inc., a Canadian company that provides pension plan governance and investment consulting services to corporate sponsors, not-for-profit organizations, trusteed plans, public plans, foundations, and endowments. No transaction terms were released.

Information Technology (Closed)

Generix has Acquired Sologlobe Logistique

Generix SA (ENXTPA:GENX), a French company that develops SaaS solutions for supply chain ecosystems, has acquired Sologlobe Logistique Inc., a Canadian company that develops and implements Web-based supply chain optimization systems. No transaction terms were released.

Marchex has Acquired Telmetrics

Marchex, Inc. (NasdaqGS:MCHX), a U.S.-based provider of call analytics that drive, measure, and convert callers into customers, has acquired Telmetrics Inc., a Canadian call and text tracking and analytics company. Total transaction value is estimated to be $13.1 million.

Bounteous has Acquired Demac Media

Bounteous, a U.S.-based company that provides digital brand experiences, has acquired Demac Media Inc., a Canadian company that offers IT consulting and technology services. No transaction terms were released.

Quorum Information Technologies has Acquired DealerMine

Quorum Information Technologies Inc. (TSXV:QIS), a Canadian information technology company that focuses on the automotive retail business in North America, has acquired DealerMine Inc., a Canadian company that develops sales and service customer-relationship management software for automotive franchise dealers. Total transaction value is estimated to be $14.3 million, reflecting an 18.0x EBITDA multiple and a 1.16x revenue multiple.

Real Estate (Announced)

Avison Young to Acquire GVA Grimley

Avison Young (Canada) Inc., a company that provides commercial real estate solutions and services to owners and occupiers of office, retail, industrial, and multi-family properties, has agreed to acquire GVA Grimley Ltd., a U.K.-based company that provides property advisory, management, development, and investment services. No transaction terms were released.

Real Estate (Closed)

Avison Young has Acquired Veritas Management Services

Avison Young (Canada) Inc. has acquired Veritas Management Services Inc., a Canadian commercial real estate management company specializing in property management, acquisition due diligence, and consulting. No transaction terms were released.

Other (Closed)

Global Health Clinics has Acquired Integrative Alternative Health Services

Global Health Clinics Ltd. (CNSX:MJRX), a Canadian company that operates clinics to generate and convert leads for licensed producers and ancillary marijuana businesses, has acquired Integrative Alternative Health Services, a Canadian company that provides mobile therapeutic and alternative healthcare services. No transaction terms were released.

Gardner Denver Holdings has Acquired Dv Systems

Gardner Denver Holdings Inc. (NYSE:GDI), a U.S.-based company that designs, manufactures and sells multistage centrifugal blowers and exhausters used in various industrial and wastewater applications, has acquired Dv Systems Inc., a Canadian manufacturer of rotary screw and piston compressors and associated aftermarket parts. No transaction terms were released.

Wisconsin Resorts has Acquired Searchmont Ski Association

Wisconsin Resorts Inc., a U.S.-based company that owns and manages ski and snowboard resorts throughout the United States, has acquired Searchmont Ski Association Inc, a Canadian company that operates a popular ski resort in Sault Ste. Marie, Ontario. Total transaction value is estimated to be $2.0 million.

 

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

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