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Canadian M&A Market Recap: Week Ended March 30th

  • Posted By: Andrew Schmidt, Dawid Misiak, Melissa Shang, Gavin Ockrant, and Paris Aden

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Market Update

Fifty-Nine Canadian M&A transactions closed this past week. Year to date, M&A closed deal count is 11.8% lower than the comparable period in 2017. The Canadian dollar depreciated by 0.21 cents, ending the week at 78 cents. The TSX underperformed the S&P 500 by 1.4% in U.S. dollar terms. WTI Crude oil fell by 1.3%, ending the week at $64.87 per barrel.

According to The Lead Left, the increase in Libor rates has raised yields on institutional term loans this quarter. Assuming a three-year term to repayment, the average yield is up to 5.42% so far in Q1 2018 from 5.02% in Q4 2017. The 3-month Libor rate itself is currently at 2.3%, up from 1.69% at the end of 2017.

 

Canadian M&A Transactions[i]

Energy (Announced)

Clearview Resources to Acquire Bashaw Oil

Clearview Resources Ltd., a Canadian company that engages in the acquisition and development of oil and natural gas assets in Canada, has agreed to acquire Bashaw Oil Corp., a Canadian company that engages in oil and gas exploration and production activities. No transaction terms were released.

Materials (Announced)

10273686 Canada to Acquire The Eelleet Network

10273686 Canada Ltd., a company that assists patients in navigating through and accessing Canada’s legal medical marijuana program, has agreed to acquire The Eelleet Network Corp., a Canadian company that engages in the mining and exploration of precious metals. No transaction terms were released.

Industrials (Closed)

Linovati has Acquired BP&M Government IM & IT Consulting

Linovati inc., a Canadian management consulting company, has acquired BP&M Government IM & IT Consulting Inc., a Canadian company that provides management consulting services. No transaction terms were released.

Agrisolutions has Acquired Trinity Logistics

Agrisolutions Corp., a Canadian company that manufactures components for farm machinery, has acquired Trinity Logistics Corporation, an American company that provides production line support, inventory management, warehousing, and distribution services in the Midwestern United States. No transaction terms were released.

Garda World Security has Acquired United American Security

Garda World Security Corp., a Canadian company that together with its subsidiaries, provides security services globally, has acquired United American Security, LLC, an American company that provides security guards and guard services for long and short-term security needs. United American Security, LLC, was a subsidiary of Expedition Capital Partners. No transaction terms were released.

Healthcare (Announced)

Xanthic Biopharma to Acquire Avitas CBD Water

Xanthic Biopharma Inc., a Canadian company that produces non-combustible cannabis and cannabis-infused powdered drinks, has agreed to acquire Avitas CBD Water, LLC, an American company that produces and distributes cannabidiol infused water. Total transaction value is estimated to be $1.1 million.

Healthcare (Closed)

Aphria has Acquired Aphria International

Aphria Inc. (TSX: APH), a Canadian company that produces, supplies, and sells medical cannabis in Canada, has acquired Aphria International Inc., previously named Nuuvera Inc., a Canadian company that produces medical marijuana products. Aphria International Inc., was a subsidiary of Globalive. Total transaction value is estimated to be $441 million.

Information Technology (Announced)

Kontrol Energy to Acquire Emission Monitoring solutions

Kontrol Energy Corp. (OTCPK: OTSH.F), a Canadian company that provides energy efficiency solutions and technology in Canada, has agreed to acquire Emission Monitoring solutions, a Canadian company that offers emissions and process monitoring applications. Total transaction value is estimated to be $3.3 million.

Stratacache to Acquire X2O Media

Stratacache, Inc., an American company that offers digital signage solutions globally, has agreed to acquire X2O Media, Inc., a Canadian company that develops channel creation and management platforms. X20 Media, In., is a subsidiary of Barco NV. No transaction terms were released.

Information Technology (Closed)

AppRiver has Acquired Roaring Penguin Software

AppRiver, LLC, an American company that provides cloud-based email and cyber security solutions to businesses worldwide, has acquired Roaring Penguin Software Inc., a Canadian company that develops anti-spam software for email filtering and anti-virus products. No transaction terms were released.

Other (Announced)

Webcom to Acquire York Bookbinders

Webcom Limited, a Canadian company that provides books, catalogs, and directories printing services in Canada, has agreed to acquire York Bookbinders Inc., a Canadian company that specializes in hardcover book bindery services. No transaction terms were released.

Benevity to Acquire Versaic

Benevity, Inc., a General Atlantic, JMI Equity and Zinc Ventures backed Canadian company that develops workplace giving and volunteer management software solutions, has agreed to acquire Versaic Inc, an American company that provides grants, donations and sponsorship management solutions. No transaction terms were released.

Choom Holdings to Acquire Flower Power Cannabis Pharms

Choom Holdings Inc. (CNSX: CHOO), a Canadian company that through its subsidiary, Medi-Can Health Solutions Ltd, engages in cultivating and selling cannabis for medical purposes, has agreed to acquire Flower Power Cannabis Pharms Inc., a Canadian company that produces cannabis. Total transaction value is estimated to be $8.0 million.

Other (Closed)

Procurify Technologies has Acquired Procurify Exchange

Procurify Technologies Inc., a BDC Venture Capital, Nexus Venture Partners, Hedgewood, Runa Capital, Growlab Ventures Inc. and Point Nine Capital backed Canadian company that provides spend management software for enterprises worldwide, has acquired Procurify Exchange, a Canadian company formerly known as VendorBase, that operates as an independent online buyer-supplier platform. No transaction terms were released.

Allied Dispatch Solutions has Acquired Dominion Automobile Association

Allied Dispatch Solutions, LLC, an American company that provides dispatch services, has acquired Dominion Automobile Association (2004) Limited, a Canadian company that provides roadside assistance across Canada. Dominion Automobile Association (2004) Limited was a subsidiary of The Innovation Group. 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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