Acquisitions in Canada

Horizon Blockchain Games has rebranded and will now operate solely under the name Sequence. Alongside the rebrand, Sequence announced the strategic acquisition of Light, a pioneer in chain abstraction technologies, to strengthen its web3 development platform and simplify cross-chain development across the EVM ecosystem.

JM Test Systems, a provider of test and measurement equipment and calibration services, has acquired Canada's BHD Instrumentation. The deal expands JM Test Systems' footprint into Canada, with plans to grow locations and service offerings in partnership with BHD CEO Adam Hesse. JM Test Systems has been owned by Kanbrick since 2023 as part of a long-term growth strategy that includes geographic expansion and acquisitions.

DealBuilder announced a merger with Deal Studio to form an integrated CRM and deal management platform for business brokers. The combined offering will blend DealBuilder’s AI capabilities with Deal Studio’s long-standing broker software tools and continue under the Deal Studio platform brand.

AccessSMT, a portfolio company of Speyside Equity Fund I LP, completed the acquisition of CP Distributors Ltd. on October 1, 2024. The combination brings together two North American leaders in the door, hardware, and specialties sector, creating an organization with approximately CAD 250 million in annual revenue and expanded scale to serve complex projects across Canada and the United States.

LFM Capital-backed Weller Metalworks acquired DROP Sprockets, Inc., expanding Weller’s metal fabrication and precision machining platform. AEA Investors’ Private Debt group provided mezzanine notes and an equity co-investment to support the transaction. DROP, headquartered in Nelson, British Columbia, manufactures customizable made-to-order sprockets used across applications.

MDpanel acquired Burkitt Computer Corporation (BCC), a Canadian provider of IME case and claims management software best known for its W5 platform. The acquisition is intended to enhance MDpanel’s technology stack, expand geographic reach, and support a broader marketplace for IME and medical opinion companies.

TFI International acquired Canada-based carriers CMW Express and its sister company FRL Express, according to an announcement on LinkedIn. The two businesses are truckload (TL) and less-than-truckload (LTL) specialists serving Quebec, the Maritimes, Ontario and the eastern United States; financial terms were not disclosed.

Avista Healthcare Partners announced it has completed the acquisition of Trillium Health Care Products from New Water Capital for undisclosed terms. Trillium, a Brockville, Ontario-based contract development and manufacturing organization (CDMO), specializes in branded over-the-counter products across multiple dosage forms for consumer healthcare and pharmaceutical customers. Avista plans to support Trillium’s growth and use it as a platform for potential strategic acquisitions.

VitalHub Corp, a Toronto-based healthcare software company, agreed to acquire clinical decision support firm MedCurrent and its core product OrderWise for up to $24.5 million. The consideration includes about $8.7 million in cash at closing plus up to about $15.8 million in performance-based earn-outs over three years, with closing expected by early September pending approvals.

Contango ORE, Inc. announced that shareholders and optionholders of HighGold Mining Inc. approved a previously announced arrangement under which Contango will acquire HighGold. The transaction is expected to close around July 9, 2024, subject to customary conditions and final court approval from the Supreme Court of British Columbia.

Wellington Group of Companies acquired Contract Express in an undisclosed deal. The acquisition expands Wellington’s brokerage, truckload, and LTL logistics services across the United States and Canada, while maintaining Contract Express’ brand and operations.

JENNMAR, a global provider of infrastructure products and services and part of FalconPoint Partners, has acquired Dumotech Industrial Products. Dumotech, based in Rouyn-Noranda, Quebec, specializes in mining products and equipment and will continue operating from its current location under JENNMAR’s ownership. The acquisition is intended to strengthen JENNMAR’s presence in Canada, particularly in Quebec, to better serve the hard rock mining market.

Hillcore Group completed the acquisition of CEDA effective June 18, 2024. CEDA had been majority-owned by OMERS since 2005, and will continue operating under its existing leadership team as part of Hillcore’s portfolio.

Canstar Restorations LP acquired Lydale Property Restoration, a property restoration provider focused on fire and flood remediation in Alberta and Saskatchewan. The deal combines Lydale’s 40+ years of experience with Canstar’s infrastructure and regional network to expand a one-stop restoration offering across Western Canada.

Platte River Equity portfolio company MFG Chemical acquired H.P. Polymers (HPP), an independent paint and coatings resin manufacturer. HPP is based in Puslinch, Ontario, and the deal expands MFG’s capabilities and product portfolio within the paint and coatings sector.

North American Rail Solutions, through its Canadian subsidiary Universal Rail Systems, acquired Condor Signals and Communications, a provider of rail signals and communications services and related manufactured products. Condor will operate as part of Universal Rail’s signals group and maintain its offices in Oakville, Ontario. The deal expands North American Rail Solutions’ signals and communications capabilities across Canada and into the United States.

TerraVest Industries Inc. has entered into an agreement to acquire Advance Engineered Products. Advance, headquartered in Regina, Saskatchewan, is a Canadian manufacturer and service provider in the tank trailer industry, and the deal is intended to complement TerraVest’s existing tank trailer businesses and expand its product and service platform.

WeCommerce Operations Ltd., an indirect wholly owned subsidiary of Tiny Ltd., acquired all issued and outstanding shares of Repeat Inc. The deal supports WeCommerce’s strategy of building and acquiring e-commerce technology businesses; transaction terms were not disclosed. Repeat is an AI-driven retention marketing software application serving primarily enterprise e-commerce merchants.

HEALWELL AI Inc. entered into an agreement to acquire 100% of Intrahealth Systems Limited, a SaaS-based electronic health record (EHR) platform operating across Canada, Australia, and New Zealand. The deal values Intrahealth at approximately $24.2 million in consideration (cash plus HEALWELL shares, with an additional deferred amount), and is intended to integrate HEALWELL’s AI tools into Intrahealth’s EHR to create an AI-powered next-generation EHR offering. Intrahealth is being acquired from WELL Health Technologies Corp., which previously acquired Intrahealth in 2021.

Case Facilities Management Solutions (Case FMS) and Landscape Effects Property Management (LFX) have completed a merger to create a leading cross-border snow management and commercial landscaping services platform across the U.S. and Canada. The combined company is backed by private equity firm The Halifax Group, which previously invested in Case FMS in December 2021; financial terms were not disclosed.

An affiliate of STG has entered into a definitive arrangement agreement to acquire all issued and outstanding common shares of MediaValet Inc. for C$1.71 per share in cash. The transaction values MediaValet at approximately C$80 million and is expected to close in Q1 2024 subject to shareholder, court, and regulatory approvals.

KV Capital’s private equity team acquired UTV Canada Inc., a Canadian distributor and online retailer of aftermarket ATV/UTV parts and accessories. Following the acquisition, UTV Canada will merge with KV Capital Fund II portfolio company Mountain Sports Distribution (MSD) to expand KV Capital’s powersports distribution platform, with UTV Canada’s CEO retaining equity and joining MSD.

Mullen Group Ltd. entered into a letter of intent to acquire ContainerWorld Forwarding Services Inc. and its operating subsidiaries, a Richmond, British Columbia-based logistics provider focused on alcoholic beverage and hospitality supply chains. The transaction is expected to close in Q2 2024 subject to due diligence, regulatory approval, and final closing conditions, and will be funded from Mullen Group’s existing credit lines. ContainerWorld will operate within Mullen Group’s Logistics & Warehousing segment and founder Dennis Chrismas will continue to oversee the business during the transition.

Blue Wolf Capital Partners, in partnership with Stonepeak, completed the acquisition of Montreal-based LOGISTEC Corporation in an approximately C$1.2 billion transaction. Following the close, LOGISTEC will remain headquartered in Montreal and Sean Pierce was appointed CEO, replacing Madeleine Paquin.

SandboxAQ announced it has acquired Good Chemistry, a Vancouver-based computational chemistry company, to expand SandboxAQ’s AI simulation capabilities for drug discovery and materials design. The deal adds Good Chemistry’s software products (QEMIST Cloud and Tangelo), talent, and customer/partner relationships; financial terms were not disclosed. Good Chemistry’s existing backers, including Green Sands Equity and others, will join the SandboxAQ investor base as part of the transaction.

SIB Corp., operating as StoneRidge Insurance Brokers (SIB), acquired Seymour Fair Insurance Brokers Inc., an Ontario-based full-service insurance brokerage. Seymour Fair Insurance will continue to be led by its Principal Broker/Owner, David Fair, and the deal strengthens SIB’s presence in Southern Ontario.

Thrive Foods announced on Dec. 5 that it has acquired Canature, a producer of freeze-dried pet food and treats. Canature, founded in 2010 and headquartered in Langley, British Columbia, will add technical freeze-drying and wet-processing capabilities and a facility near Vancouver to Thrive Foods. Thrive Foods is backed by private equity firms Entrepreneurial Equity Partners (e2p) and Mubadala Capital, making the deal an add-on acquisition.

Compugen Inc. signed a definitive purchase agreement to acquire Québec-based IT solution provider CPU Service d'ordinateur inc. and its wholly owned subsidiary C.P.U. Design Inc. (collectively, CPU). The deal expands Compugen’s capabilities and go-to-market offerings across infrastructure, service desk, security, and cloud, and CPU will operate under the retained brand as “CPU, a Compugen Group of Companies.”

Alta Equipment Group acquired Ault Industries, a privately held Canadian equipment distributor operating in Ontario and Quebec. The $36.0 million deal includes cash at close, a seller note, and Alta common stock, and marks Alta’s first investment in Canada for its growing construction segment.

GFL Environmental Inc. acquired Fielding Environmental, a fully integrated environmental solutions provider offering liquid waste and gas processing, recycling, and disposal capabilities. Fielding is headquartered in Mississauga, Ontario, and the deal is expected to enhance GFL’s environmental services network through complementary specialized processing capabilities and a hazardous-waste permit; terms were not disclosed.

Everest Clinical Research, a contract research organization (CRO) backed by Arlington Capital Partners, has acquired European CRO August Research for undisclosed terms. The deal expands Everest’s footprint into Western and Eastern Europe and strengthens its clinical trial services and pharmacovigilance capabilities, while August’s founders and local managing directors will remain in leadership roles post-transaction.

Cloyes Gear & Products, Inc. acquired Rotomaster, a global turbocharger and component specialist. The transaction terms were not disclosed, and the combination is intended to expand product offerings and market coverage in the automotive aftermarket.

Graham Partners acquired Commercial Bakeries Corporation, a family-founded producer of private label packaged cookies. Commercial Bakeries is headquartered in Toronto, Canada and serves retail and co-manufacturing customers across North America, with a focus on specialty/premium, better-for-you, and seasonal/LTO cookie products.

Permobil has acquired PDG Mobility, a Vancouver, British Columbia-based designer and manufacturer of manual “tilt-in-space” wheelchairs. The deal expands Permobil’s manual wheelchair and complex rehabilitation portfolio by adding PDG’s tilt-in-space product range and related expertise. Financial terms were not disclosed.

Imperial Dade, a distributor of foodservice packaging, printing papers, and janitorial supplies, has acquired Ralik. Ralik, founded in 1997, is a distributor of paper goods, packaging materials, and safety and janitorial products. Financial terms of the private transaction were not disclosed.

StoreForce, a specialty retail operations software provider backed by Accel-KKR, announced the acquisition of ThinkTime, a retail execution solution provider. The deal expands StoreForce’s suite with ThinkTime’s task management, ticketing, communications, and mobile capabilities to improve store productivity and employee engagement for retailers.

Right Time Group of Companies acquired Shines Energy Incorporated, a Dartmouth, Nova Scotia-based residential HVAC provider, to expand its footprint into Atlantic Canada. Shines’ management and employees will join Right Time and continue operating in the Halifax Regional Municipality area; financial terms were not disclosed. Right Time is majority-owned by private equity firm Gryphon Investors.

Egis entered into an agreement to acquire McIntosh Perry, a North American engineering services and consulting firm headquartered in Toronto. Following closing (expected in early July 2023), McIntosh Perry will serve as Egis’ North American platform to accelerate expansion across Canada and the United States.

Integrated Power Services (IPS) has acquired Surplec, a Canada-based provider focused on managing and remanufacturing surplus medium and high-voltage transformers. The deal adds three Surplec locations across Canada and expands IPS’s power management, transformer services, and remanufacturing capabilities for customers in Canada and the United States.

HRSoft, a cloud-based compensation lifecycle management software provider, has acquired CompTrak, a compensation management solution provider headquartered in Toronto, Canada. The deal expands HRSoft’s capabilities in compensation management, adding CompTrak’s expertise with large financial services and Fortune 500 customers and strengthening compliance, automation/integration, and analytics functionality.

Grain Management, LLC acquired 55 Hereford Street, a 127,000-square-foot Tier III data center property in Brampton, Ontario (near Toronto). The acquisition was completed in partnership with StratCap, which will co-invest by taking a minority stake and will manage the overall facility. Financial terms were not disclosed.

Allentown, LLC, a portfolio company of Aterian Investment Partners, acquired Northwestern Systems Corporation (doing business as BetterBuilt). Headquartered in Delta, British Columbia, BetterBuilt manufactures vivarium washing equipment and automation solutions for biomedical pre-clinical research and life sciences. The deal represents Allentown’s first strategic add-on acquisition since Aterian acquired Allentown in April 2022.

Lynx Equity Limited acquired Henry's: Canada's Greatest Camera Store, a Canadian family-owned specialty retailer of digital imaging and consumer electronics. Henry's will join the Lynx family as Lynx’s first acquisition of its kind, with Gillian Stein remaining as CEO following the transaction.

Lifeist Wellness Inc. has entered into a definitive share purchase agreement to acquire 100% of 1000501971 Ontario Inc. ("Zest") for C$3,411,707.90 in an all-stock transaction. The sellers are 13735346 Canada Inc. and 1000496959 Ontario Ltd., and the deal is expected to close in the coming weeks subject to TSX Venture Exchange approval and customary closing conditions.

Lakeside Book Company acquired all issued and outstanding shares of Marquis Book Printing, Inc., expanding Lakeside’s book printing and distribution footprint into the Canadian market. Marquis will operate as a division of Lakeside, with Dave McCree leading the combined business and Serge Loubier continuing as president of Marquis.

SoftwareOne Holding AG has agreed to acquire Beniva Consulting Group Inc., a Calgary-based consultancy specializing in ServiceNow advisory, IT operations management (ITOM), and related cloud and application services. The deal is intended to strengthen SoftwareOne’s software and cloud services portfolio, adding deeper process automation and service management capabilities to its existing IT asset management offerings. Financial terms were not disclosed.

GeoComply Solutions Inc. has acquired OneComply Inc., a licensing and compliance management platform serving companies in highly regulated markets such as gaming and fintech. The combination expands GeoComply’s compliance and risk offerings by adding OneComply’s centralized licensing automation and ongoing compliance management capabilities. Financial terms were not disclosed.

Bell entered into an agreement to acquire FX Innovation, a Montréal, Québec-based provider of cloud-focused managed and professional services and workflow automation solutions. The deal is intended to accelerate digital transformation for Canadian businesses by combining FX Innovation’s multi-cloud and ServiceNow expertise with Bell’s national scale and network assets. FX Innovation is expected to continue operating independently under CEO and co-founder Guillaume Bazinet following close, subject to regulatory approvals.

TRS Components Inc., a portfolio company of Argyle Capital Partners, and Terra Nova Truss (TNT) announced a merger of equals that closed on April 1, 2023. Argyle Capital Partners partnered again with Celina Capital Corporation on the transaction, creating a larger roof truss manufacturing platform across Ontario with multiple facilities serving Canada and parts of the U.S.

Studio Designer acquired Toronto-based DesignDocs, a provider of project financial management and accounting software for interior designers. The combination is intended to expand scale across support, professional services, and product development, strengthening the software platform serving interior design firms.

Stealth Monitoring acquired Caliber Communications and Syncro Monitoring (collectively, Caliber) to expand its technology-driven commercial video surveillance and remote video monitoring capabilities across North America. The deal adds Caliber’s patented technology and AI-enabled platform, and was supported by a new capital investment from Stealth’s existing investors Twin Point Capital, LLR Partners, and Auxo Management.

Apotex Pharmaceutical Holdings Inc. announced the closing of its acquisition by an affiliate of funds advised by SK Capital Partners, LP. Following the transaction, Allan Oberman was appointed President and CEO to help transform Apotex into a Canadian-based global health company.

Recycle Track Systems, Inc. (RTS) has acquired RecycleSmart Solutions, Inc. (RecycleSmart), Canada’s largest independent provider of smart waste diversion, organic capture, and recycling management technology. The deal expands RTS’s North American footprint into Canada and adds RecycleSmart’s Pello IoT waste sensor hardware and software platform to RTS’s portfolio.

Westview Co-op announced it will acquire Grasse Lumber Sales to add its first Home and Building Centre location in Didsbury. The acquisition expands Westview Co-op’s retail footprint beyond its existing Home Centres in Drumheller and Hanna, and the company plans to offer continued employment to Grasse Lumber Sales staff. The deal is subject to customary closing conditions and is expected to close in late March, with financial terms not disclosed.

ScalePad acquired ControlMap, a governance, risk, and compliance (GRC) platform built for managed service providers (MSPs). The combination expands ScalePad’s offerings into automated cybersecurity compliance (Compliance as a Service) across frameworks such as SOC 2, HIPAA, CMMC2, and ISO 27001, integrating with ScalePad’s MSP-focused product suite.

Blue Point Capital Partners-backed Transtar Holding Company has acquired Pro Form Products, a manufacturer of refinishing and repair products for automotive, aviation, industrial, and marine applications. Pro Form, headquartered in Ontario, Canada, will operate as a subsidiary of Transtar Autobody Technologies, expanding Transtar’s product offering and end-market reach across the U.S. and Canada.

MadCap Software, backed by Battery Ventures, acquired IXIASOFT to expand its product offerings with an enterprise-class DITA component content management system (CCMS). IXIASOFT becomes a wholly owned subsidiary, strengthening MadCap’s ability to provide end-to-end solutions for developing, delivering, and managing structured technical content for enterprise customers.

ScalePad announced the acquisition of Cognition360, a business intelligence and analytics platform built for Managed Service Providers (MSPs). The deal expands ScalePad’s offerings into BI & analytics and is intended to integrate Cognition360’s data warehouse and predictive analytics capabilities with ScalePad’s existing MSP software suite.

Copley Equity Partners LLC made an investment in Triton Environmental Consultants Ltd., an environmental consulting firm serving major infrastructure projects across Canada. Existing shareholders retained significant ownership and will continue to lead the business; financial terms were not disclosed.

Right Time Group of Companies acquired Waterloo-based Dunn Heating ClimateCare, which will operate as Dunn Heating and Air Conditioning. The business provides residential heating, cooling, air quality, and hot water services across the Tri-Cities area of Southern Ontario. Former owner Rick Dunn and the existing management team and employees will join Right Time; financial terms were not disclosed.

AdeptAg announced the acquisition of Plantech Control Systems and its associated companies, Plantech West and JM Controls and Electric. Plantech, headquartered in Vineland, Ontario, provides integrated control systems and automation solutions for controlled environment agriculture, expanding AdeptAg’s platform and solutions offering for growers.

Ryan, a global tax services and software provider, acquired The Funding Portal Inc. (Fundingportal), a grants discovery and screening platform and SaaS provider. The deal expands Ryan’s government funding and grants offerings and broadens its client portfolio across North America and beyond.

Ironbridge Equity Partners, in partnership with Walker Glass management, completed the acquisition of Walker Glass Company Ltd. Walker Glass is a Montreal-based value-added glass processor known for acid-etched glass, premium mirror products, and bird-friendly glazing, with sales across North America.

AutoCanada Inc. acquired Kavia Auto Body, a collision centre located in Saskatoon, Saskatchewan. The acquisition supports AutoCanada’s strategy to expand its national collision centre network in markets complementary to its existing dealership footprint.

Sverica Capital Management LP announced the sale of its portfolio company iWave to private equity firm Incline Equity Partners. Headquartered in Charlottetown, Prince Edward Island, iWave provides a fundraising intelligence platform that aggregates wealth, philanthropic, and biographic data for education, healthcare, and nonprofit organizations.

EQI Ltd. and Accucam announced a merger in which Accucam, a portfolio company of Fulcrum Capital Partners, will operate as a division of EQI. The combination expands EQI’s global supply chain, sourcing, manufacturing, and logistics capabilities for metal castings by adding Accucam’s finish machining and component part manufacturing footprint. Fulcrum Capital Partners will retain an ownership stake in the combined business.

Kore Outdoor Inc., a portfolio company of Fulcrum Capital Partners, has been acquired by Ironbridge Equity Partners alongside the company’s management team. Kore Outdoor is a Montreal-based manufacturer and distributor of paintballs, markers, and related accessories serving customers globally.

Ironbridge Equity Partners, together with Handi Foods management, acquired a controlling interest in Handi Foods Ltd. Handi Foods is a Toronto, Ontario-based private-label manufacturer of pita-based snack products serving customers across the United States and Canada.

Benford Capital Partners (BCP) has recapitalized Gum Products International, Inc. (GPI) in partnership with CEO and founder Kenneth Tan, who will continue to lead the company. GPI is BCP’s first platform investment from its $200 million Fund II and the parties plan to invest in growth initiatives and pursue future add-on acquisitions.

Sole Source Capital-backed Dallas Plastics has acquired Emballage MPP, Inc. (MPP), a Montreal-based manufacturer of polyethylene-based blown film products for medical, food packaging, and logistics end markets. The acquisition expands Dallas Plastics’ geographic reach into Canada and enhances its scale and leadership in high-performance specialty films used in flexible packaging. Financial terms were not disclosed.

SureWerx, a global manufacturer and supplier of safety, tool, and equipment products, acquired MEGAComfort International Inc., an ergonomic anti-fatigue insole and orthotics provider. The deal expands SureWerx’s safety footwear and worker wellness offering; terms of the transaction were not disclosed.

Virtual, Inc. acquired inMotion DVS, Inc., an award-winning digital marketing agency headquartered in Ottawa, Canada, to expand its web, video, and digital marketing capabilities. Virtual also acquired DMI Consulting, a Massachusetts-based event production management firm, to strengthen strategic planning and on-site management support for client events.

Morningstar Sustainalytics, a global provider of ESG research, ratings, and data, has acquired Aquantix, a Montreal-based technology company providing property-level climate risk data services for real estate and mortgage lending. The acquisition adds Aquantix’s AI-powered climate risk models and analytics capabilities to strengthen Morningstar Sustainalytics’ climate solutions for investors, banks, lenders, and other stakeholders assessing physical climate risks in real estate.

Guardian Capital Group Limited has agreed to acquire a 60% ownership interest in Rae & Lipskie Investment Counsel Inc. (The RaeLipskie Partnership), a private wealth manager based in Waterloo, Ontario. The deal is expected to close in Q3 2022 subject to regulatory approvals, with current employees retaining the remaining 40% stake.

Hillcore Group has completed the acquisition of Active Warehousing Inc. Active Warehousing is a third-party logistics (3PL) and transload provider headquartered in Edmonton, Alberta, serving forestry and industrial end markets and moving rail and ocean containerized products to domestic markets and export ports.

TELUS Corporation entered into a binding arrangement agreement to acquire all issued and outstanding common shares of LifeWorks Inc. in a cash-and-stock transaction. LifeWorks shareholders may elect cash, TELUS shares, or a combination (subject to proration), valuing the deal at approximately C$2.9 billion including net debt. The acquisition is intended to combine LifeWorks with TELUS Health to create a global, employer-focused digital-first healthcare and wellbeing platform.

OrthoPediatrics Corp. entered into an agreement to acquire Pega Medical, adding the Fassier-Duval Telescopic Intramedullary System and expanding its pediatric trauma and deformity portfolio. The transaction is valued at up to $33 million, consisting of $31 million in upfront cash plus $2 million in stock with certain three-year restrictions, and is expected to be financed through OrthoPediatrics’ expanded credit facility.

Resonetics has acquired Agile MV, a Montreal, Quebec-based product development and turnkey finished medical device assembly provider serving the electrophysiology and cardiology catheter market. Following the deal, Resonetics will rebrand its Design & Development Services business as AGILE Product Development across Boston, San Diego, and Montreal to expand its development and finished device assembly capabilities. Resonetics is backed by private equity firms Carlyle and GTCR.

Oshkosh Corporation has completed the acquisition of Maxi-Métal Inc. (MAXIMETAL), a Canadian designer and manufacturer of custom fire apparatus and utility vehicles. MAXIMETAL will join Oshkosh’s Fire & Emergency segment, strengthening collaboration with Pierce Manufacturing and expanding sales and distribution across Pierce’s North American dealer network.

The Kensington Private Equity Fund (Kensington) acquired Resolute Health Corporation Limited, a Canadian healthcare services provider focused on testing and treatment for obstructive sleep apnea. Resolute will partner with Kensington to expand its geographic reach and continue scaling its network of sleep therapy clinics across Canada.

Audax Private Equity acquired Thermogenics, Inc., a North American provider of boiler service and maintenance, equipment sales and rentals, and boiler manufacturing. Thermogenics was purchased from Ironbridge Equity Partners and certain other minority investors, with financial terms not disclosed. The deal represents the first investment from Audax’ Origins Fund I.

Nasdaq, Inc. entered into an agreement to acquire Metrio, a privately held ESG data collection, analytics, and reporting software provider. Nasdaq will integrate Metrio’s SaaS platform into its IR & ESG services portfolio and plans to maintain Metrio’s headquarters in Montreal. Financial terms were not disclosed and the deal was expected to close by mid-June 2022.

JLD-Laguë, a portfolio company of Champlain Financial Corporation, and Groupe Soucy led the acquisition of Location Sauvageau and Location Légaré in June 2022. The acquired group is a leading provider of short- and medium-term commercial and institutional vehicle rentals in Quebec, operating a fleet of 3,800+ utility vehicles. Financial terms were not disclosed, and the current management team will remain in place while Luc Soucy will serve as Executive Chairman.

Axis Insurance Managers completed the acquisition of BMG Aviation Ltd., doing business as BMG Insurance Brokers, effective June 1, 2022. BMG is a privately owned western Canadian insurance brokerage specializing in aviation and aerospace risks, and the combined business will operate under the Axis brand to strengthen Axis’s aviation and aerospace insurance practice nationally.

Thoughtworks (NASDAQ: TWKS) announced it has acquired Connected, a privately held Canadian end-to-end product development consultancy. The deal expands Thoughtworks’ customer experience, product and design (CXPD) capabilities and strengthens its presence in Canada, particularly in Toronto. Financial terms were not disclosed.

Steel Family Holdings (SFH) acquired Fire Detection Devices Ltd., a Canadian manufacturer of heat detection solutions and the Thermoflex brand. SFH plans to invest in the company’s patented heat detector technology to expand market accessibility while continuing the legacy founded by Jack Duggan.

Koios Beverage Corp. signed a definitive agreement (dated April 5, 2022) to acquire all issued and outstanding securities of privately held Retox Beverage Corp. The transaction consideration consists of 15,000,000 Koios units at a deemed value of $0.10 per unit (aggregate $1.5 million), and is expected to close on or before April 30, 2022 subject to customary conditions and regulatory approvals.

Harris, through one of its subsidiaries, acquired Groupe PG (PG SCF), a provider of integrated management software for the forest and pulp and paper industries, as well as recycling facilities and quarries/sand pits. Groupe PG is well-established in Québec and also operates in Ontario, Maine, and Finland. The deal expands Harris’s vertical market software portfolio within forestry-related industries.

Neighbourly Pharmacy Inc. entered into a definitive agreement to acquire all shares of the entity that owns and operates Rubicon Pharmacies, a 100-location network of community pharmacies in Western Canada, for $435 million in cash (subject to customary adjustments and ROFR-related exclusions). The deal is expected to close in Q2 2022 and will be financed through a combination of equity (including a public subscription receipt offering and a concurrent investment by Persistence Capital Partners) and credit facilities/cash on hand.

Right Time Group of Companies acquired The Comfort Group, a residential HVAC and indoor air quality services provider based in Parksville, British Columbia. The deal supports Right Time’s western Canada expansion and brings The Comfort Group’s management and employees into the Right Time network. Transaction terms were not disclosed; Right Time is majority-owned by Gryphon Investors.

Portage CyberTech Inc., a majority-owned subsidiary of Converge Technology Solutions Corp., acquired 1CRM Systems Corp., a SaaS-based CRM and business management software provider headquartered in Victoria, Canada. The purchase price included $3 million in cash at closing plus up to $2 million in earn-out payments over two years based on milestone achievement.

ProAmpac announced it has acquired Belle-Pak Packaging, an Ontario-based manufacturer of flexible packaging products. The deal expands ProAmpac’s presence in Canada and strengthens its flexible packaging capabilities serving e-commerce, healthcare, and logistics end markets. ProAmpac is owned by Pritzker Private Capital along with management and other co-investors.

GME Supply Co., a portfolio company of Platte River Equity, has acquired TEAM-1 Academy. Headquartered in Burlington, Ontario, TEAM-1 provides safety and rescue training, consultative services, and related equipment to customers in wind and renewable energy, telecommunications, and hazardous material management. The acquisition expands GME’s presence in Canada and strengthens its offering for at-height worker training and safety equipment.

Paystone acquired Canadian Payment Services (CPS), a fast-growing Canadian merchant services provider. The deal marks Paystone’s sixth acquisition in two years and expands its payments footprint and value-added SaaS offerings for merchants across Canada and the United States.

OSF Digital announced it has acquired FitForCommerce, a global commerce strategy consultancy. FitForCommerce will operate as OSF Digital’s commerce strategy consulting arm, strengthening OSF’s full-service digital transformation and commerce consulting capabilities. Financial terms were not disclosed.

High Tide Inc. entered into a definitive agreement to acquire 100% of Bud Room Inc. for CAD$3.6 million, including assignment of the vendors’ shareholder loans. The deal also transfers to High Tide all rights to Bud Room’s customized Fastendr retail kiosk and smart locker technology and Bud Room’s retail cannabis store in Ottawa, Ontario.

SyBridge Technologies completed the acquisitions of Action Tooling LLC and Lakeshore Fixture & Gauge Ltd to expand its Tech & Services business unit and strengthen its end-to-end industrial technology solutions offering. The transactions add a Grand Rapids, Michigan service center and bring in-house capabilities for designing, manufacturing, certifying, and servicing fixtures, gauges, and end-of-arm tooling. SyBridge was established in 2019 by private equity firm Crestview Partners.

PSG, together with its portfolio company ShieldCo, acquired Traction Guest, a cloud-based visitor management and workforce security software provider. The deal expands ShieldCo (backed by PSG V) and is intended to accelerate product innovation and growth in the workplace safety and visitor management market.

Recovery Point Systems, a portfolio company of Abry Partners, acquired Geminare, a Toronto-based resiliency, application and data protection innovator. The acquisition adds Geminare’s Resiliency Management Platform (RMP) to enhance Recovery Point’s disaster recovery, business continuity and DRaaS capabilities across private, public cloud, and hybrid environments.

ATS Scientific Inc., a Canadian provider of analytical instrumentation, sample preparation, and materials processing equipment and related services, has been acquired by an investment group including Aevi Capital and Sage Capital Partners. The investment is intended to support ATS Scientific’s continued growth and expansion across the Canadian laboratory equipment market, with Aevi Capital’s Aleks Sobot assuming the CEO role.