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Canadian Market Recap: Week Ended January 19

  • Posted By: Andrew Schmidt, Ty Wilson, Christopher Tuszynski, Daniel Borg and Paris Aden

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Market Update

Thirty-seven Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 19% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.42 cents, ending the week at 80 cents. The TSX underperformed the S&P 500 by 0.1% in U.S. dollar terms. WTI Crude oil fell by 1.4%, ending the week at $63.31 per barrel.

According to The Lead Left, loan fund outflows have been more frequent since the fall, US$12.7bn flowed into mutual funds in 2017. Separate managed account money grew as pensions, endowments and family offices along with insurance companies, and sovereign wealth funds allocated money to this asset class. Few would argue that 2017 was the year of the CLO with over a quarter of a trillion dollars in activity.

Canadian M&A: Our 2017 Review  

This past year was an active one for Canadian dealmakers, with a 10% uptick in the number of reported M&A transactions compared to 2016. Which provinces were responsible for this surge in activity? The answer might surprise you. We explore this and other themes as we take a closer look at Canadian M&A announced deal activity for 2017. 

Click here to view the full article.

Canadian M&A Transactions [1]

Energy (Closed)

MatRRix Energy Technologies has Acquired D2 Drilling

MatRRix Energy Technologies Inc. (TSXV:MXX), a Canadian company that engages in the acquisition and supply of horizontal and directional drilling technologies for the oil and gas industry in North America, has acquired D2 Drilling Inc., a Canadian company that owns one oil drilling rig in southeast Saskatchewan. Total transaction value is estimated to be $3.2 million.

Materials (Announced)

Rupert Resources to Acquire Northern Aspect Resources

Rupert Resources Ltd. (TSXV:RUP), a Canadian company that engages in the acquisition and exploration of mineral properties in Finland, has agreed to acquire Northern Aspect Resources Ltd., a Canadian company that explores and mines mineral properties. Total transaction value is estimated to be $4.1 million.

Healthcare (Announced)

Aphria to Acquire Broken Coast Cannabis

Aphria Inc. (TSX:APH), a Canadian company that produces, supplies, and sells medical cannabis in Canada, has agreed to acquire Broken Coast Cannabis Ltd., a Canadian company that produces medical cannabis products. Total transaction value is estimated to be $230.0 million.

Luminor Medical Technologies to Acquire Rise Research

Luminor Medical Technologies Inc. (CNSX:LMT), a Canadian medical diagnostic company that focuses on the acquisition, development, and commercialization of diagnostic tests and risk assessment technologies in North America, has agreed to acquire Rise Research Inc., a Canadian botanical medicine company that develops cannabis consumer products for both medical and recreational use. Total transaction value is estimated to be $3.9 million.

We Grow BC to Acquire AREV Nutrition Sciences

We Grow BC Ltd., a Canadian cultivator of marijuana, has agreed to acquire AREV Nutrition Sciences Inc., a Chiron Capital backed Canadian company developing a line of natural health products. No transaction terms were released.

Healthcare (Closed)

Vanc Pharmaceuticals has Acquired Healthtab

Vanc Pharmaceuticals Inc. (TSXV:VANC), a Canadian manufacturer and distributer of generic and over-the-counter pharmaceuticals, has acquired Healthtab, Inc., a Canadian company that operates a web-enabled point-of-care health screening system. Total transaction value is estimated to be $941 thousand.

Financials (Announced)

Sagittarius Capital to Acquire Irri-al-Tal

Sagittarius Capital Corporation, a Canadian capital pool company, has agreed to acquire company Irri-al-Tal Ltd., an Israeli company that plans, designs, and installs turn-key projects and solutions for irrigation and agricultural needs. No transaction terms were released.

Parana Copper to Acquire Ultra Invest Canada

Parana Copper Corporation (CNSX:COPR), a Canadian oil and gas junior company that engages in the acquisition and exploration of oil and gas properties in Canada, has agreed to acquire Ultra Invest Canada Inc., a non-arms-length private company with a significant banking client base controlled by Parana’s CEO. No transaction terms were released. Parana Copper Corporation is pivoting to become a merchant bank in the cannabis sector.

Information Technology (Announced)

Universal mCloud to Acquire NGRAIN

Universal mCloud Corporation (TSX-V:MCLD), A Canadian provider of IoT-connected asset care technology solutions, has agreed to acquire NGRAIN Corporation, a Canadian company using artificial intelligence to asses damage for clients in the insurance, aerospace, and defense sectors. No transaction terms were released.

Information Technology (Closed)

Pandell Technology has Acquired LandWorks

Pandell Technology Corporation, an EmergingISV Capital Partners and Adventure Capital backed Canadian company that provides financial and land management software for oil and gas companies in North America, has acquired LandWorks, Inc., a U.S.-based company that provides software, consulting, and land asset management solutions. No transaction terms were released.

UniPrint.net has Acquired ePRINTit USA

UniPrint.net Corp., a Canadian company that develops enterprise print management and output solutions, has acquired ePRINTit USA Inc., a company that develops cloud-based printing solutions. No transaction terms were released.

N. Harris Computer has Acquired ACCEO Solutions

N. Harris Computer Corporation, a Canadian company that develops software solutions for customers in the utility, healthcare, education, and public sectors in North America, has acquired ACCEO Solutions Inc., a Canadian company that designs, develops, and implements management software. N. Harris is a subsidiary of Constellation Software. Total transaction value is estimated to be $250 million.

Maplebear has Acquired UNATA

Maplebear Inc., a Canaan Partners, Kleiner Perkins Caufield & Byers, Sequoia Capital, Comcast Ventures, Unilever Ventures Limited, Wellcome Trust, Khosla Ventures and Y Combinator backed U.S.-based company doing business as Instacart, provides online grocery delivery services, has acquired UNATA Inc., a Canadian company that provides a marketing and analytics platform. No transaction terms were released.

F12 Networks has Acquired Sitkum I.T. Managed Services

F12 Networks, Inc., a Canadian provider of IT programs, has acquired Sitkum I.T. Managed Services Ltd., a Canadian company offering managed IT services. No transaction terms were released.

 


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

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