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Canadian Market Recap: Week Ended March 23rd

  • Posted By: Andrew Schmidt, Miranda Li, Melissa Shang, Dawid Misiak, Louis Goldberg, and Paris Aden

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  • Comments: 1

Market Update

Thirty-nine Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 15.4% lower than the comparable period in 2017. The Canadian dollar appreciated by 1.38 cents, ending the week at 78 cents. The TSX outperformed the S&P 500 by 5.0% in U.S. dollar terms. WTI Crude oil rose by 5.6%, ending the week at $65.71 per barrel.

According to The Lead Left, syndicated and privately placed second lien loan volume totals US$6.8bn so far in Q1 2018, which isn’t far behind Q4 2017’s volume of US$8.6bn. Issuers are continuing to rely on second lien facilities to increase leverage as a total of 61% of such second lien tranches have been used to finance M&A.


Valitas Insights: Blockchain and M&A

Part III – The Delaware Blockchain Initiative – Autonomous Digital Markets

In Part III of our Blockchain and M&A series, the series finale, we will explore the widespread M&A implications of the “Delaware Blockchain Initiative” and touch upon the newly announced Canadian equivalent. We are, without a doubt, amid a blockchain revolution... click here to see why.

 

Canadian M&A Transactions[i]

Energy (Announced)

Tervita to Acquire Newalta

Tervita Corporation, a Goldman Sachs Group, Merchant Banking Division, Western America Capital Group, and O.S.S. Capital Management LP backed Canadian company that provides environmental solutions to industrial customers in North America, has agreed to acquire Newalta Corporation (TSX: NAL), a Canadian company that provides engineered environmental solutions to the oil and gas industry in North America. No transaction terms were released.

Energy (Closed)

Petrolia Energy has Acquired Bow Energy

Petrolia Energy Corporation (OTCPK: BBLS), an American company that engages in the exploration, development, and production of oil and gas properties in the United States, has acquired Bow Energy Ltd., a Canadian natural resource company, that engages in the acquisition, exploration, development, and production of oil and gas properties in Indonesia. Bow Energy Ltd. was a subsidiary of Blue Sky International Holdings, Inc. Total transaction value is estimated to be $17.3 million, implying a 14.5x EBITDA multiple and a 2.41x revenue multiple.

Materials (Announced)

Active Health Products to Acquire Mountain Lake Minerals

Active Health Products Ltd., a Canadian private equity firm, has agreed to acquire Mountain Lake Minerals Inc. (CNSX: MLK), a Canadian company that explores potential precious and base metal deposits in eastern Canada. No transaction terms were released.

Altius Minerals to Acquire Potash Royalty Limited Part

Altius Minerals Corporation (TSX: ALS), a Canadian company that engages in the generation and acquisition of mineral resource projects, royalties, and investments in Canada and Brazil, has agreed to acquire Potash Royalty Limited Partnership, a Liberty Metals & Mining Holdings, LLC backed Canadian company that operates potash mines. Total transaction value is estimated to be $75.0 million.

Arbutus Brands to Acquire International Tungsten

Arbutus Brands Inc., a subsidiary of Choom Holdings Inc. (CNSX: CHOO), a Canadian cannabis cultivation company, has agreed to acquire International Tungsten Inc., a Canadian company that focuses on evaluating asset and business transactions. Total transaction value is estimated to be $81.8 million.

Arctic Blockchain to Acquire Caza Gold

Arctic Blockchain Ltd, a Canadian company that offers enterprise co-location services and cryptocurrency mining, has agreed to acquire Caza Gold Corp., a Canadian company that explores and develops precious metal sites across Latin America. No transaction terms were released.

Contemporary Amperex Technology Canada to Acquire North American Lithium

Contemporary Amperex Technology Canada Limited, a subsidiary of Contemporary Amperex Technology Co Ltd, China's leading automotive battery maker, has agreed to acquire North American Lithium Inc., a Canadian company that refines lithium for industrial use. North American Lithium Inc. is a subsidiary of Investissement Québec. No transaction terms were released.

iCobalt to Acquire MetalsTech Bay Lake Cobalt

iCobalt Limited, an Australian mining company, has agreed to acquire MetalsTech Bay Lake Cobalt Inc., a Canadian company with mining claims in Ontario. Total transaction value is estimated to be $3.0 million.

International Battery Metals to Acquire Selective Adsorption Lithium

International Battery Metals Ltd. (CNSX: IBAT), a Canadian company that operates as an exploration company in Canada, has agreed to acquire Selective Adsorption Lithium Inc., a Canadian company that engages in the processing of lithium. Total transaction value is estimated to be $10.8 million.

JM Capital II to Acquire Targetco

JM Capital II Corp. (TSXV: JCI.H) a Canadian capital pool company, has agreed to acquire Targetco, a Canadian mineral exploration company. No transaction terms were released.

Vertical Designs to Acquire Bullion Gold Resources

Vertical Designs Ltd., a Canadian company that constructs automated agricultural production facilities, has agreed to acquire Bullion Gold Resources Corp. (TSXV: BGD), a Canadian company that explores and develops mineral properties in Canada. No transaction terms were released.

Viscofan to Acquire Transform Pack

Viscofan, S.A. (BME: VIS), a Spanish company that together with its subsidiaries manufactures and distributes artificial casings primarily for use in the meat industry, has agreed to acquire Transform Pack Inc., a Canadian company that manufactures packaging material and casings for ingredients, such as spices, flavors, colours, and meat products. Total transaction value is estimated to be $2.5 million.

Western Atlas Resources to Acquire Pacific Topaz Resources

Western Atlas Resources Inc., a Canadian company that offers mineral exploration services, has agreed to acquire Pacific Topaz Resources Ltd. (TSXV: PPZ.H), a Canadian company that engages in the acquisition and exploration of natural resource properties. No transaction terms were released.

Materials (Closed)

Itafos has Acquired GB Minerals

Itafos (TSXV: IFOS), a Cayman Islands based company that together with its subsidiaries, mines, explores, and produces phosphate fertilizers and related products in Brazil, has acquired GB Minerals Ltd., a Canadian company that engages in the mining, exploration, and development of mineral resources in North America and Africa. Total transaction value is estimated to be $73.0 million.

Osisko Metals has Acquired Pine Point Mining

Osisko Metals Incorporated (TSXV:OM), a Canadian company that engages in the acquisition, exploration, development, production, and operation of gold mineral properties in Canada and Mexico, has acquired Pine Point Mining Limited, a Zebra Holdings and Investments S.à.r.l. backed Canadian company that engages in the exploration and development of base metal and diamond deposits in the Northwest Territories and Quebec. Total transaction value is estimated to be $32.9 million.

GFG Resources has Acquired Rapier Gold

GFG Resources Inc (TSXV: GFG), a Canadian company that acquires, explores, and develops mineral properties in the United States, has acquired Rapier Gold Inc., a Medalist Capital Ltd. backed Canadian company that engages in exploration for gold in Canada. Total transaction value is estimated to be $8.0 million.

Cannex Capital has Acquired Arco Resources

Cannex Capital Holdings Inc. (CNSX: CNNX), a Canadian company that through its subsidiaries, provides financing solutions for cannabis cultivators, processors, and dispensaries in Canada and internationally, has acquired Arco Resources Corp., a Canadian company that engages in the acquisition, exploration, and development of mineral properties in Canada. No transaction terms were released.

Duport Capital has Acquired MPT Mustard Products & Technologies

Duport Capital Ltd., a Canadian company that provides business development services to new and emerging businesses in Canada, has acquired MPT Mustard Products & Technologies Inc., a Canadian research and development company that develops biological solutions for the agricultural sector. No transaction terms were released.

Industrials (Announced)

Fuyo General Lease to Acquire Marubeni Auto Investment

Fuyo General Lease Co., Ltd. (TSE:8424), a Japanese company that engages in leasing and installment sales business in Japan and internationally, has agreed to acquire Marubeni Auto Investment (CANADA) Inc., a company that through its subsidiary, provides pickup truck rental and leasing services. Marubeni Auto Investment (CANADA) Inc., is a subsidiary of Marubeni Corporation (TSE: 8002) No transaction terms were released.

Horizon North Logistics to Acquire Shelter Modular

Horizon North Logistics Inc. (TSX: HNL), a Canadian company that services remote construction and mining sites, has agreed to acquire Shelter Modular Inc., a Canadian company that builds and sells modular buildings internationally. Total transaction value is estimated to be $4.70 million,

Stina Resources to Acquire Jet Power & Controls

Stina Resources Ltd. (CNSX: SQA), a Canadian company that acquires and develops mineral resource properties in North America, has agreed to acquire Jet Power & Controls Ltd., a Canadian company that manufactures power control systems and accessories. Total transaction value is estimated to be $1.60 million.

The Sloan Company to Acquire Litecorr Global

The Sloan Company, Inc., a Baird Capital Partners, Golub Capital LLC, Hexagon, LLC, and Jordan/Zalaznick Advisers, Inc. backed American company operating under the name SloanLED which designs, develops, manufactures, and sells light emitting diode (LED) products, has agreed to acquire Litecorr Global, Inc., a Canadian company that manufactures LED lighting, video screens, and POS products for use in a variety of applications. No transaction terms were released.

Veritas Pharma to Acquire 3 Carbon Extractions

Veritas Pharma Inc. (CNSX: RVP), a Canadian company that develops proprietary cannabis products for medicinal purposes, has agreed to acquire 3 Carbon Extractions Inc., a Canadian company that designs cannabis extraction facilities. Total transaction value is estimated to be $1.10 million.

Industrials (Closed)

Centre de l'entrepreneurship technologique de l'ÉTS has Acquired InnoCité MTL

Centre de l'entrepreneurship technologique de l'ÉTS, a Canadian technology business incubator, has acquired InnoCité MTL, a start-up incubator based in Quebec. No transaction terms were released.

Doble Engineering Company has Acquired Manta Test Systems

Doble Engineering Company, a U.S. based energy producer, has acquired Manta Test Systems Inc., a Canadian company that manufactures protective relay testing equipment. No transaction terms were released.

FICODIS has Acquired Elite Tools

FICODIS INC, a Canadian company that. distributes supplies for industrial businesses, has acquired Elite Tools Ltd., a Canadian company that distributes machinery and tools for woodworking and metalworking. Elite Tools Ltd., was a subsidiary of Mercier Inc. No transaction terms were released.

Friday Night has Acquired Spire Secure Logistics

Friday Night Inc. (CNSX: TGIF), a Canadian company that produces and sells medical and recreational marijuana in the United States, has acquired Spire Secure Logistics Inc., a Canadian company that provides security services to the cannabis industry. Total transaction value is estimated to be $4.70 million.

GFL Environmental has Acquired Carney's Waste Systems

GFL Environmental Inc., a Hawthorn Equity Partners Inc. and HPS Investment Partners, LLC backed Canadian waste management company, has acquired Carney's Waste Systems Ltd., a Canadian company that provides waste and recycling services. No transaction terms were released.

GFL Environmental has Acquired Smithrite Disposal

GFL Environmental Inc., a Hawthorn Equity Partners Inc. and HPS Investment Partners, LLC backed Canadian waste management company, has acquired Smithrite Disposal Ltd., a Canadian recycling services company. No transaction terms were released.

M-D Building Products has Acquired RCR International

M-D Building Products, Inc., a U.S. based company that manufactures weatherproofing products for homes internationally, has acquired RCR International Inc., a Canadian company that develops weather-stripping products and insulation components. No transaction terms were released.

Skyvest Aviation has Acquired SustainCo

Skyvest Aviation Inc., a Canadian company that provides infrastructure solutions and services, has acquired SustainCo Inc. (TSXV: SMS), a Canadian company that provides infrastructure solutions and services. Total transaction value is estimated to be $904 thousand, implying a 6.4x EBITDA multiple and a 0.15x revenue multiple.

Consumer Discretionary (Announced)

EVITRADE Health Systems to Acquire Artillery Holdings

EVITRADE Health Systems Corp. (CNSX: EVA), a Canadian company that provides automated biomedical care services online, has agreed to acquire Artillery Holdings Ltd., a Canadian company that provides digital marketing services for the healthcare industry. Total transaction value is estimated to be $2.90 million.

Canature Watergroup Canada Acquired

Canature Watergroup Canada Inc., a Canadian company that manufactures and distributes water conditioning products has been acquired. Total transaction value is estimated to be $4.40 million.

Consumer Discretionary (Closed)

Groupe Park Avenue has Acquired Léo Harley-Davidson

Groupe Park Avenue Inc., a Canadian company that operates in the luxury automobile industry, has acquired Léo Harley-Davidson, a Canadian company that retails Harley-Davidson motorcycles. No transaction terms were released.

ICM Partners has Acquired Just for Laughs

ICM Partners, LLC, an American company that operates as a talent and literacy company in the United States, has acquired Just for Laughs, Inc., a Canadian company that produces comedy shows for television broadcasting and airlines in Canada and internationally. No transaction terms were released.

iBid4storage.com has Acquired SelfStorageAuction.Com

iBid4storage.com, Inc., a Canadian company that offers online storage auction services, has acquired SelfStorageAuction.Com, an American company that operates an online auction platform. No transaction terms were released.

Longview Communications & Public Affairs has Acquired DFH Public Affairs

Longview Communications & Public Affairs, a Canadian company that develops and implements communication and public affair strategies for businesses, has acquired DFH Public Affairs Ltd., a Canadian company that develops and implements communication and public affair strategies for businesses. No transaction terms were released.

Franchise Management has Acquired El-Rancho Food Services

Franchise Management Inc., a Canadian company that owns and operates franchised restaurants in Canada and the U.S., has acquired El-Rancho Food Services Limited, a Canadian company that operates restaurants. No transaction terms were released.

MTY Food Group has Acquired Imvescor Restaurant Group

MTY Food Group Inc. (TSX: MTY), a Canadian company that franchises and operates quick-service restaurants in Canada and internationally, has acquired Imvescor Restaurant Group Inc., a Canadian company that operates franchised and corporate restaurants in Eastern Canada. Imvescor Restaurant Group Inc. was a subsidiary of ADW Capital Management. Total transaction value is estimated to be $276 million, implying a 16.5x EBITDA multiple and a 5.46x revenue multiple.

Consumer Staples (Closed)

Highline Produce has Acquired Prairie Mushrooms

Highline Produce Limited, a Canadian company that grows and distributes a line of fresh, organic, dried, stuffed, and exotic mushrooms for retail and food service clients in Eastern Canada and the Midwestern United States, has acquired Prairie Mushrooms (2010) Ltd., a Canadian company that grows and ships mushrooms. No transaction terms were released.

Captor Capital has Acquired I-5 Holdings

Captor Capital Corp. (OTCPK: NWUR.F), a Canadian company that operates as an investment company, has acquired I-5 Holdings Ltd., a Canadian company that produces and processes cannabis related products. Total transaction value is estimated to be $83.7 million.

Healthcare (Announced)

Future Farm Technologies to Acquire CEPG Consulting and Design

Future Farm Technologies Inc. (CNSX: FFT), a Canadian company that operates as an indoor plant growth technology company in North America, has agreed to acquire CEPG Consulting and Design Inc., a Canadian company that researches, develops, and grows cannabis plants. CEPG Consulting and Design Inc is a subsidiary of Snellen Holdings Co. Ltd. No transaction terms were released.

BioAdaptives to Acquire Philco Animal Health

BioAdaptives, Inc. (OTCPK: BDPT), an American company that operates as a research, development, and educational company, has agreed to acquire Philco Animal Health Inc., a Canadian company that produces and markets veterinarian healthcare products. No transaction terms were released.

IntelGenx Technologies to Acquire LaboVal

IntelGenx Technologies Corp. (OTCPK: IGXT), a Canadian company that develops oral immediate-release and controlled-release products for the pharmaceutical market, has agreed to acquire LaboVal Inc, a Canadian company that offers pharmaceutical testing services. Total transaction value is estimated to be $5.0 million.

Specialty Medijuana Products to Acquire International Tungsten

Specialty Medijuana Products Inc., a Canadian medical marijuana producer, has agreed to acquire International Tungsten Inc., a Canadian company that recently filed for a late stage medical marijuana license. No transaction terms were released.

Healthcare (Closed)

Varian Medical Systems has Acquired Evinance Innovation

Varian Medical Systems, Inc. (NYSE: VAR), an American company that designs, manufactures, sells, and services medical devices and software products for treating medical conditions worldwide, has acquired Evinance Innovation Inc., a Canadian company that provides personalized and evidence-based point-of-care recommendations to doctors and patients. No transaction terms were released.

Veritas Pharma has Acquired Cannevert Therapeutics

Veritas Pharma Inc. (DB:2VP), a Canadian company that focuses on the development of proprietary cannabis strains for medical disorders, has acquired Cannevert Therapeutics Ltd., a Canadian company that provides clinical research services for use of marijuana in medical disorders. Total transaction value is estimated to be $3 million.

Nuuvera has Acquired ARA - Avanti Rx Analytics

Nuuvera Inc. (TSXV: NUU), a Canadian company that produces medicinal marijuana products, has acquired ARA - Avanti Rx Analytics Inc., a Canadian company that develops and manufactures marijuana, cannabinoids, and cannabis infused-products. Total transaction value is estimated to be $35 million.

North Bud Farms has Acquired GrowPros MMP

North Bud Farms Inc., a Canadian company that focuses on GMP standardized pharmaceutical grade cannabis production for the international pharmaceutical and recreational markets, has acquired GrowPros MMP Inc., a Canadian company that produces medical marijuana. GrowPros MMP was a subsidiary of Tetra Bio-Pharma Inc. (TSXV: TBP). No transaction terms were released.

Financials (Announced)

Co-Operators Life Insurance Company to Acquire The CUMIS Group

Co-Operators Life Insurance Company, a Canadian company that provides life and health insurance, has agreed to acquire The CUMIS Group Limited, a Canadian company that partners with credit unions to deliver insurance and financial solutions. No transaction terms were released.

Globalive Technology Partners to Acquire Corporate Catalyst Acquisition

Globalive Technology Partners Inc., a Canadian disruptive technology company, has agreed to acquire Corporate Catalyst Acquisition Inc. (TSXV: CII.H), a Canadian company with investments in the technology industry. No transaction terms were released.

Purpose Financial to Acquire Thinking Capital Financial

Purpose Financial LP, a Canadian financial holding company, has agreed to acquire Thinking Capital Financial Corporation, a Canadian company that provides small business funding solutions online. Thinking Capital Financial is a subsidiary of TorQuest Partners. No transaction terms were released.

Serenity CBD Canada to Acquire Mercal Capital

Serenity CBD Canada Inc., a Canadian company that manufactures cannabidiol oils and isolates from industrial hemp, has agreed to acquire Mercal Capital Corp., a Canadian company that focuses on identifying and evaluating potential acquisitions or businesses. No transaction terms were released.

Financials (Closed)

Arthur J. Gallagher & has Acquired Palmer Atlantic Insurance

Arthur J. Gallagher & Co. (NYSE: AJG), a U.S. based company that provides insurance and third-party claims settlement services internationally, has acquired Palmer Atlantic Insurance Ltd., a Canadian company that provides property and casualty insurance brokerage services. No transaction terms were released.

Industrial Alliance Insurance and Financial Services have Acquired PPI Management

Industrial Alliance Insurance and Financial Services Inc. (TSX: IAG), a Canadian company that provides various life and health insurance products, has acquired PPI Management Inc., a Canadian company that provides life insurance distribution services. No transaction terms were released.

Westland Insurance Group has Acquired Baron Insurance Broker Group

Westland Insurance Group Ltd., a Canadian insurance brokerage company that provides personal and commercial insurance products to individuals, businesses, and non-profit organizations in Canada, has acquired Baron Insurance Broker Group Inc., a Canadian company that offers insurance brokerage services. No transaction terms were released.

Information Technology (Announced)

Carl Data Solutions to Acquire Connected Fintech

Carl Data Solutions Inc. (DB:7C5), a Canadian company that together with its subsidiaries, provides big-data-as-a-service based solutions for data collection, storage, and analytics in data-centric companies, has agreed to acquire Connected Fintech Inc., a Canadian company that provides cryptocurrency mining, support, and hosting services. Total transaction value is estimated to be $159 thousand.

Arbitrade Exchange to Acquire Cryptobontix

Arbitrade Exchange Inc., a Canadian company that operates as a cryptocurrency exchange and mining company, has agreed to acquire Cryptobontix Inc., a Canadian company that owns and operates five digital cryptocurrencies. No transaction terms were released.

Vogogo to Acquire Crypto 205

Vogogo Inc. (CNSX: VGO), a payment technology and online transactions company, has agreed to acquire Crypto 205 Inc., a Canadian company that mines for cryptocurrencies. No transaction terms were released.

Ooma to Acquire Voxter Communications

Ooma, Inc. (NYSE: OOMA), a U.S. based company that provides communications solutions to small businesses and users in North America, has agreed to acquire Voxter Communications Inc., a Canadian company that provides communications solutions in North America. No transaction terms were released.

CryptoGlobal to Acquire BitCity

CryptoGlobal Corp. (TSXV: CPTO), a Canadian blockchain and financial technology company, has agreed to acquire BitCity Inc., a Canadian company that provides crypto currency mining services. Total transaction value is estimated to be $40.0 million.

Information Technology (Closed)

NRT Technology has Acquired OfferCraft

NRT Technology Corp., a Canadian company that provides integrated ticket redemption and cash access kiosks and payment services to lotteries, retailers, and casino and ATM operators worldwide, has acquired OfferCraft, LLC, an American company that designs and develop an artificial intelligence and gamification-based content management software solutions. No transaction terms were released.

L'Oréal has Acquired Modiface

L'Oréal S.A. (ENXTPA: OR), a French company that through its subsidiaries, manufactures and sells cosmetic products for women and men worldwide, has acquired Modiface Inc., a Canadian company that develops virtual makeover, skin care, anti-aging, and hair simulation technology solutions for IOS and Android devices. No transaction terms were released.

GTT Communications has Acquired Accelerated Connections

GTT Communications, Inc. (NYSE: GTT), an American company that provides cloud networking services to multinational enterprises, carriers, and governments worldwide, has acquired Accelerated Connections Inc., a Canadian company that provides private Internet Protocol (IP) connectivity and public internet services, supporting data, voice, colocation, and hosted IaaS to clients in Canada and internationally. No transaction terms were released.

Aptean has Acquired IndustryBuilt Software Ltd

Aptean, Inc., a Wynnefield Capital Inc. and Vista Equity Partners LLC backed American company that provides industry-focused enterprise software solutions, has acquired IndustryBuilt Software Ltd, a Canadian company that developed industry-specific enterprise resource planning (ERP) software solutions JustFood and EquipSoft. No transaction terms were released.

Cayuse has Acquired Process Pathways

Cayuse, Inc., an American company that provides web-based solutions for universities, healthcare and research institutes, and research organizations, has acquired Process Pathways Inc., a Canadian company that develops research administration software solutions for universities, colleges, and health institutions in Canada. No transaction terms were released.

Arctic Blockchain has Acquired Hydro66 UK

Arctic Blockchain Ltd, a Canadian company that offers enterprise co-location services and cryptocurrency mining, has acquired Hydro66 UK Limited, a Swedish company that provides hosting services for companies. Hydro66 was a subsidiary of Black Green Capital. No transaction terms were released.

GI Partners has Acquired Doxim Solutions

GI Partners, LLC, an American private equity and real estate investment firm, has acquired Doxim Solutions ULC, a Canadian company that designs and develops customer engagement solutions for the financial services sector. No transaction terms were released.

PatronManager has Acquired Greencopper Publishing

PatronManager, LLC, an American company that designs and develops a customer relationship management (CRM) system through Salesforce.com for the live event industry, has acquired Greencopper Publishing Inc., a Canadian company that develops web and mobile applications for the live entertainment industry. No transaction terms were released.

ADGA Group Consultants has Acquired Extravision Video Technologies

ADGA Group Consultants, Inc., a Canadian company that provides engineering consultancy services, has acquired Extravision Video Technologies Inc., a Canadian company that develops security technologies and systems. No transaction terms were released.

Roynat Equity Partners and Legado Capital have Acquired Kivuto Solutions

Roynat Equity Partners and Legado Capital, two Canadian private equity companies, have acquired Kivuto Solutions Inc., a Canadian company that provides digital distribution solutions for customers internationally. No transaction terms were released.

VCG Hong Kong has Acquired 500px

VCG Hong Kong, a Chinese online media company, has acquired 500px Inc., a Canadian company that operates as a global online photography community for professional photographers. No transaction terms were released.

Real Estate (Closed)

NAI Terramont Commercial has Acquired Terramont Real Estate Services

NAI Terramont Commercial, a Canadian company that offers commercial real estate brokerage services, has acquired Terramont Real Estate Services Inc., a Canadian boutique real estate brokerage. No transaction terms were released.

Telecommunication Services (Closed)

McAfee has Acquired TunnelBear

McAfee LLC, a TPG Capital L.P., Thoma Bravo LLC and Soda Rock Partners backed American company that develops and delivers security solutions and services that protect systems, networks, and mobile devices in the United States and internationally, has acquired TunnelBear Inc., a Canadian company that provides virtual private network (VPN) services through desktop and mobile applications. No transaction terms were released.

Utilities (Announced)

OMERS Infrastructure Management to Acquire Leeward Renewable Energy

OMERS Infrastructure Management Inc., a Canadian company formerly known as Borealis Infrastructure Trust, is a principle investment firm specializing in real estate, infrastructure and private equity investments, has agreed to acquire Leeward Renewable Energy, LLC, an American company that owns and operates wind farms in North America. Leeward Renewable Energy, LLC is a subsidiary of ArcLight Capital Partners. No transaction terms were released.

Other (Announced)

Goldrea Resources to Acquire Tabu Equity Investments

Goldrea Resources Corp. (OTCPK: GORA.F), a Canadian company that engages in the acquisition, exploration, and development of mineral properties in Canada and the United States, has agreed to acquire Tabu Equity Investments Inc., a Canadian company with interests in the marijuana industry. No transaction terms were released.

Brixton Energy to Acquire 3Lions Energy

Brixton Energy Corp., a Canadian company that explores and develops oil and gas properties in Canada, has agreed to acquire 3Lions Energy Inc., an oil and gas company based in British Columbia. No transaction terms were released.

Royal Sapphire to Acquire Puresinse

Royal Sapphire Corp. (TSXV: RSL.V), a Canadian company that engages in the acquisition and exploration of mineral properties in Canada, has agreed to acquire Puresinse Inc., a Canadian life sciences cannabis company. No transaction terms were released.

Lipman Produce to Acquire Huron Produce

Lipman Produce, Inc., an American company that engages in producing and distributing tomatoes in North America, has agreed to acquire Huron Produce Limited, a Canadian company that produces and distributes tomatoes and vegetables in Canada, the U.S., and Mexico. No transaction terms were released.

Utopya Innovations to Acquire CLEC Holding

Utopya Innovations Inc, a Canadian company that develops and manufactures mid-market smartphone devices, has agreed to acquire CLEC Holding, Inc., an American telecom holding company. No transaction terms were released.

Other (Closed)

HockeyTech Canada has Acquired Buzzer Apps Mobile Solutions

HockeyTech Canada ULC, a Canadian company that provides hockey-related technology, analytics, and information services worldwide, has acquired Buzzer Apps Mobile Solutions Inc., a Canadian company that offers a turnkey mobile framework for leagues and sports teams. No transaction terms were released.

BayMark Health Services has Acquired Canadian Addiction Treatment Centres

BayMark Health Services Inc., an American specialty health care company that provides medication-assisted treatment and counseling services for opioid addiction and dependency, has acquired Canadian Addiction Treatment Centres, a Canadian company that operates as the largest opioid addiction treatment provider in Canada. No transaction terms were released.

BDO Canada has Acquired KLM Financial

BDO Canada LLP, a Canadian company that provides auditing, accounting, tax, financial, and management advisory services, has acquired KLM Financial Ltd., a Canadian company that offers outsourced financial teams, customized finance solutions, and recruiting services. No transaction terms were released.

AWP has Acquired Safety First Contracting

AWP, Inc., a Blue Point Capital Partners, The Riverside Company, and Audax Group Inc. backed American company that provides traffic control solutions to utilities, municipalities, and private contractors throughout the Eastern United States, has acquired Safety First Contracting (1995) Ltd, a Canadian company that offers traffic management solutions for utilities, utility contractors, and telecommunications companies. No transaction terms were released.

Remorques Lewis has Acquired B.W.S. Manufacturing

Remorques Lewis Inc., a Canadian wholesale distributor of industrial machinery and equipment, has acquired B.W.S. Manufacturing Ltd., a Canadian trailer manufacturer. No transaction terms were released.

Veritas Pharma has Acquired Sechelt Organic Marijuana

Veritas Pharma Inc. (CNSX: RVP), has acquired Sechelt Organic Marijuana Corp., a Canadian cannabis producer. Total transaction value is estimated to be $800 thousand.

The Western Investment Company of Canada & ATB Capital have Acquired Foothills Creamery

The Western Investment Company of Canada Limited (TSXV: WI) and ATB Capital, have acquired Foothills Creamery Ltd., a Canadian dairy products producer. Total transaction value is estimated to be $27.6 million.

 


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

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