Q-News

June 2011

M&A News - May 2011

Posted in M&A News

We came across six private M&A deals this May. All six of the deals were cross-border transactions.  A rather uneventful month yet actually the second highest deal volume we have reported this year.  Two of four Canadian companies acquired this month were bought out by private equity players while the other two were taken out by strategic buyers.  Only one of the Canadian targets was in the ICT sector.

Canadian M&A Transactions

Paper Excellence Canada Holdings, a BC-based company that operates three paper and pulp mills in western Canada, grew its core business by acquiring Northern Resources Nova Scotia Corporation, the parent company of Northern Pulp Nova Scotia and Northern Timber.  Paper Excellence acquired the Nova Scotia-based business from Blue Wolf Capital Partners (NY) and Atlas Holdings (CT).

Cross Border M&A

Onex (TSX: OCX) sold Husky International, an Ontario-based manufacturer of injection molding equipment, to Berkshire Partners (MA) and OMERS Private Equity for $2.1 billion.

Northern Digital, a Waterloo company that markets its 3-D measurement technology to clients in the medical, industrial, and life sciences industries, was acquired by Florida-based Roper Industries (NYSE: ROP).  Roper is a diversified manufacturer that, among other lines of business, develops and markets medical and scientific imaging products.   The company was acquired from Massachusetts-based Audax Group, which had taken control of the business via a management buyout in December of 2007. 

Quebec-based Pharmetics sold its assets to Massachusetts-based Monitor Clipper Partners.  Pharmetics is a private label and contract manufactures of over-the-counter drugs and supplements.

 

The Caisse de Depots du Quebec was part of a syndicate that acquired Spie, an engineering firm based in France, from PAI Partners for $3 billion.  PAI Partners had originally acquired the company back in 2005.  The other firms in the syndicate of acquirers were Clayton Dubilier & Rice and a unit of AXA, a publicly traded French insurer.


Waterloo’s RIM (TSX: RIM) continued its acquisition spree by buying Ubitexx.  Administrators can use the German company’s ubi-Suite technology to manage mobile devices using a secure cloud-based dashboard.

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