Q-News

January 2009

M&A News - December 2008

Posted in M&A News

There were nine M&A transactions announced during December: two of the transactions were cross border acquisitions; all but two of the deals involved strategic buyers; two of the strategic acquirers had PE backing; only two of the acquired companies were in the technology space; and one of the companies was bought out of receivership.

 

Details on December’s M&A transactions appear below.

 

 

Canadian M&A Transactions

 

FirstOnSite, a Toronto-based company backed by TorQuest, made two acquisitions during the month growing its disaster restoration operations through the acquisition of Alberta-based Spring Fresh Cleaning & Restoration Canada and Ontario-based Airkem Damage Restoration Services. 

 

Filogix, a Toronto-based software provider to the mortgage and real estate industries, owned by the Davis + Henderson Income Fund's (TSX: DHF.UN), acquired Cyence International, a Burlington-based developer of credit lifecycle management software.

 

Winnipeg’s Frantic Films Corporation, a PRIVEQ portfolio company that produces live action television content, acquired Red Apple, a Toronto-based producer of factual live-action television content.     

 

Quebec’s Capital régional et coopératif Desjardins, a holding company managed by Desjardins Venture Capital acquired the food division of Montreal-based Maison de distribution Colac for $5 million.

 

Simpler Networks, a Quebec-based company developing automation technology for local service providers, which had raised $98 million in venture funding, sold its assets through a receivership that wiped out all its former shareholders.  

 

Great Lakes Fish Corporation expanded its freshwater fish processing operations in Ontario by acquiring the Kingsville Fishermen's Company.

 

 

Cross Border M&A

 

Quebec-based Algorithme Pharma increased the reach of its clinical research services business through the acquisition of Wales-based Simbec Research.

 

JLL Partners, a PE shop based out of NY, made an offer to acquire Patheon Inc. (TSX: PTI), a Toronto-based company that provides contract development and manufacturing to the pharmaceuticals industry.  At the time of the offer in early December, JLL already owned 30% of the outstanding Patheon shares.

 

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