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Canadian M&A Market Recap: Week Ended October 12th

  • Posted By: James Silva, Ryan Kofsky, Simone Aria, Nolan Ryan, and Paris Aden

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Market Update

Fifty-five Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 3.5% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.56 cents, ending the week at 77 cents. The TSX outperformed the S&P 500 by 0.1% in U.S. dollar terms. WTI Crude oil fell by 4.1%, ending the week at $71.18 per barrel.

According to The Lead Left, Q2 2018 ranks as the third-largest fundraising quarter seen in the private debt market, with 36 funds secured at a combined value of $42 billion. Although Q3 2018 has fallen slightly behind at a total of only $24 billion, the first three quarters of 2018 have raised close to 15% more than the same period in 2017. It is expected that 2018 will continue the trend of being a record-breaking year for private debt.

Canadian M&A Transactions[i]

Materials (Announced)

Rogue Resources to Acquire Victoria Gold Mines

Rogue Resources Inc. (TSXV:RRS), a Canadian exploration-stage mining company, has agreed to acquire Victoria Gold Mines (East Timmins) Limited, a Canadian gold exploration and mining services company. Total transaction value is estimated to be $4.2 million.

Paper Excellence Canada Holdings to Acquire Catalyst Paper

Paper Excellence Canada Holdings Corporation, a company that owns and operates pulp and paper mills, has agreed to acquire Catalyst Paper Corporation, an Oaktree Capital Management, Stonehill Capital Management, Cyrus Capital Partners and Mudrick Capital Management backed Canadian company that produces and sells mechanical printing papers and newsprints worldwide. No transaction terms were released.

Materials (Closed)

Polycor has Acquired Indiana Limestone Company

Polycor Inc., a TorQuest Partners and PNC Mezzanine Capital backed Canadian manufacturer of granite, marble, limestone, recycled glass, karmstone, and soapstone products, has acquired Indiana Limestone Company, Inc., a Wynnchurch Capital backed quarrier and fabricator of limestone. No transaction terms were released.

Industrials (Announced)

GFL Environmental to Acquire Waste Industries

GFL Environmental Inc., a Hawthorn Equity Partners backed Canadian solid and liquid waste management company, has agreed to acquire Waste Industries USA, Inc., an Equity Group Investments and HPS Investment Partners backed company that provides solid waste and recycling collection services to commercial, industrial, and residential customers in the United States. Total transaction value is estimated to be $3.7 billion.

PotBotics to Acquire Express Capital

PotBotics, Inc., a U.S.-based medical cannabis technology platform, has agreed to acquire Express Capital Corp., a Canadian company that provides business consulting services. No transaction terms were released.

Industrials (Closed)

Delmar International has Acquired CV Logistics

Delmar International Inc., a Canadian company that provides freight forwarding, customs brokerage, commercial cargo transportation, and logistics services, has acquired CV Logistics Inc., a Canadian logistics and supply chain services company. No transaction terms were released.

Acumen Solutions has Acquired Mindshare Consulting Services

Acumen Solutions, Inc., a U.S.-based company that provides cloud consulting services to Fortune 500 companies and government agencies worldwide, has acquired Mindshare Consulting Services Inc., a Canadian management consultancy company. No transaction terms were released.

Wahupta Ventures has acquired Curran Technologies

Wahupta Ventures Inc., a Canadian manufacturer and processor of hemp and hemp by-products, has acquired Curran Technologies Inc, a Canadian company that designs and manufactures industrial machinery for closed-loop cannabis and hemp extraction. No transaction terms were released.

Forum Energy Technologies has Acquired Global Heat Transfer

Forum Energy Technologies, Inc. (NYSE:FET), a U.S.-based company that designs, manufactures, and distributes products to the oil and natural gas industry, has acquired Global Heat Transfer Ltd., a Pelican Energy Partners backed Canadian company that designs, manufactures, and repairs radiators, oil coolers, and industrial cooling systems for various industries. No transaction terms were released.

Watsco has Acquired Alert Labs

Watsco, Inc. (NYSE:WSO), a U.S.-based distributor of air conditioning, heating, and refrigeration equipment and related parts and supplies in North America, has acquired Alert Labs Inc., a Canadian manufacturer of water and flood monitoring sensors. No transaction terms were released.

Quality Models has Acquired Tomken Plastic Technologies

Quality Models Limited, a Canadian manufacturer of plastic parts, has acquired Tomken Plastic Technologies, Inc., a U.S.-based tooling and plastic-molding company. No transaction terms were released.

U.S. Lumber Group has Acquired Alexandria Moulding

U.S. Lumber Group, LLC, a distributor of speciality building products in North America, has acquired Alexandria Moulding, Inc., an Industrial Opportunity Partners backed Canadian supplier of mouldings and related millwork to residential markets. No transaction terms were released.

Financials (Announced)

MNP to Acquire Collins Blay

MNP LLP, a Canadian accounting and consulting company, has agreed to acquire Collins Blay LLP, a Canadian accounting company. No transaction terms were released.

Financials (Closed)

GP Financial Services has Acquired Alpha Invoice

GP Financial Services Corp., a Canadian company that provides personal financial planning and investment management for individuals and families, has acquired Alpha Invoice Inc., a Canadian lender of short term financing for small businesses and homeowners. No transaction terms were released.

Grant Thornton has Acquired MacPherson Roche Smith

Grant Thornton LLP, a Canadian accounting and auditing company, has acquired MacPherson Roche Smith, a Canadian public accounting and consulting company. No transaction terms were released.

Information Technology (Announced)

Platform 9 Capital to Acquire Uptempo

Platform 9 Capital Corp. (TSXV:PN.P), a Canadian capital pool company, has agreed to acquire Uptempo Inc., a Canadian secure payment-processing platform. No transaction terms were released.

Information Technology (Closed)

Moz has Acquired STAT Search Analytics

Moz, Inc., a Madrona Venture Group, Ignition Partners, Foundry Group and Curious Office Partners backed U.S.-based search engine optimization company that develops research and analytics software, has acquired STAT Search Analytics Inc., a Canadian company that provides daily rank tracking and SERP analytics for online brands and digital agencies. No transaction terms were released.

Auvik Networks has Acquired Talaia Networks

Auvik Networks Inc., a Rho Capital Partners, Celtic House Venture Partners and OpenView Venture Partners backed Canadian company that develops and markets network management software to small- and medium-sized businesses, has acquired Talaia Networks S.L., a Spanish company that provides traffic intelligence, threat mitigation, and peering analytic solutions. No transaction terms were released.

Our House Media has Acquired 4East Media

Our House Media Inc., a Canadian company that develops, produces, licenses, and distributes television programs internationally, has acquired 4East Media Inc., a Canadian developer and producer of media content for international markets. No transaction terms were released.

Blue Ant Media has Acquired Saloon Media

Blue Ant Media Inc., a Difference Capital Financial, Kensington Capital Partners, TerraNova Partners, Relay Ventures and Gibraltar & Company backed Canadian content producer, distributor, and channel operator, has acquired Saloon Media, a Canadian media production company specializing in relevant factual television. No transaction terms were released.

Healthcare (Closed)

Therachon has Acquired GLyPharma Therapeutic

Therachon AG, a Novo Holdings, Cowen Healthcare Investments, Pfizer Ventures, Tekla Capital Management, Versant Ventures, Orbimed, Bpifrance and Inserm Transfert Initiative backed Swiss biotechnology company that focuses on treating root causes of rare conditions, has acquired GlyPharma Therapeutic Inc, a Canadian developer of drugs for rare gastrointestinal diseases. 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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