Q-News

February 2011

M&A News - January 2011

Posted in M&A News

Things were very quiet on the M&A front this January, with the second lowest deal total we have seen over the past six months.   The big news was the acquisition of Toronto’s Adenyo by Motricity, a public US-based company, at a very lucrative multiple.   The other three deals were all-Canadian affairs involving the strategic acquisition of a nutritional products company, a pension fund taking over a health services business, and a traditional private equity firm exiting an investment in a clothing manufacturer..


Canadian M&A Transactions

Atrium Innovations (TSX: ATB), a Quebec-based company that develops, manufactures and markets several brands of nutritional products that it distributes through retailers and healthcare professionals, expanded its product portfolio by acquiring Toronto’s Seroyal International, a producer of natural pharmaceutical products. 

OMERS (Ontario Municipal Employees Retirement System) Private Equity acquired Toronto-based CBI Health Group and its 134 rehabilitation, medical and health care facilities in Canada from Toronto-based Callisto Capital.

Kilmer Capital Fund of Toronto exited its investment in McGregor Industries by having the management team of Earl and Jordan Lipson buy out their interest.  The 82 year-old company designs and markets socks as well as other clothing items.  Some of the brands owned by McGregor Industries include McGregor, Happy Foot and American Essentials.


Cross Border M&A

Toronto-based Adenyo (formerly Silverback Media) was acquired by Washington-based Motricity (NASDAQ: MOTR) for $100 million, and up to an additional $50 million in earn outs over the 12-month period following the transaction if Adenyo can achieve certain performance milestones.  Adenyo provides mobile marketing, advertising, and analytics software to mobile operators and enterprise clients.  Motricity serves the same clients as Adenyo, providing these wireless carriers and enterprises with a hosted managed-service offering that allows them to deliver branded mobile content and applications over wireless networks.

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