Acquisitions in New Brunswick, Canada

OptConnect, a provider of managed wireless connectivity solutions, acquired Canada-based DPL Wireless to expand engineering capacity and add AI-driven device-intelligence and analytics to its global managed cellular IoT connectivity platform. The combined company will integrate OptConnect’s ConnectIQ with DPL’s Hercules AI to improve uptime, reliability, and operational scale for ATM connectivity and other IoT deployments. DPL Wireless will operate as a division of OptConnect and retain its headquarters in Moncton, New Brunswick.

Salt Creek Capital acquired a controlling stake in Nanoptix Inc., a provider of thermal printing technologies for the global gaming, lottery and kiosk industries. As part of the transaction, founder and CEO Daniel Vienneau sold his controlling ownership position and moved to an advisory role, while long-time CFO Jacques LeBlanc was promoted to CEO.

Remsoft secured a strategic investment from private equity firm Banneker Partners to support Remsoft’s scaling and product innovation in forest intelligence software. As an initial step following the investment, Remsoft acquired Lim Geomatics, adding geospatial intelligence, LiDAR, and forest machine telematics capabilities to expand Remsoft’s integrated forestry intelligence platform.

Distribution Solutions Group, Inc., through its operating company Lawson Products and affiliate Lawson Products Canada, Inc., entered into an agreement to acquire Source Atlantic Limited. Source Atlantic is a Canadian wholesale distributor of industrial MRO supplies and related value-added services headquartered in Saint John, New Brunswick. The deal is expected to close in the third quarter of 2024, subject to regulatory approval and customary closing conditions, and will be funded with cash and credit facility availability.

Imperial Dade announced the acquisition of Pro-Tech Sanitation, Ltd., a distributor of janitorial supplies and cleaning equipment serving Canada’s Atlantic provinces. The deal expands Imperial Dade Canada’s scale and footprint across Prince Edward Island, Nova Scotia, and New Brunswick; financial terms were not disclosed.

Passiv, a Canadian fintech company and operator of the SnapTrade investing API platform, acquired the social investing application Wealthly. The transaction includes bringing on Wealthly founder Terry Ma and his staff, and is intended to add IP and technical expertise to accelerate development of Passiv’s SnapTrade product.

Cadman Capital Group has acquired Quoddy Savour Seafood Ltd, a land-based seafood farming and processing facility in Pennfield, New Brunswick, Canada. The facility has been used for urchin ranching trials linked to Urchinomics, and Cadman intends to use the acquisition to support restorative aquaculture and kelp forest regeneration across the Bay of Fundy and Canada’s East Coast.

IBI Group Inc. has acquired HotSpot, a mobility solutions provider focused on parking, transit, taxi, and merchant payment products. The deal expands IBI Group’s mobility-based and smart city solutions portfolio and is expected to bolster recurring revenue while strengthening IBI’s traffic and transportation practice across Canada and into the U.S.

Postmedia Network Canada Corp. completed its acquisition of all issued and outstanding shares of Brunswick News Inc., including its daily and weekly newspapers, digital properties, and parcel delivery business. The assets were acquired from J. D. Irving, Limited as part of JDI’s exit from the media business, with consideration previously announced as a mix of cash and Postmedia variable voting shares (subject to working capital adjustment).

The Fertility Partners (TFP) announced the acquisition of Conceptia Fertility, a full-service fertility clinic based in Moncton, New Brunswick. TFP plans to invest in additional human resources and facility upgrades to expand access to fertility care across Atlantic Canada.

Carbon60, a managed cloud service provider backed by M/C Partners, acquired Cirrus9, a managed cloud and hosting solutions provider headquartered in Saint John, New Brunswick. The acquisition expands Carbon60’s presence into Atlantic Canada and strengthens its national footprint to deliver managed public/private cloud, hosting, and security services across Canada.

Champlain Seafood platform, backed by Champlain Financial Corporation, announced the acquisition of Captain Dan's Seafood, a New Brunswick-based processor of lobster and snow crab products. Claridge Inc. partnered with Champlain Financial Corporation by making a strategic investment to support the buildout of a Canada-based seafood processing and marketing platform.

Novacap made a strategic investment in Leading Edge Geomatics, a Lincoln, New Brunswick-based provider of aerial survey and geomatics services and solutions. The investment is intended to accelerate Leading Edge’s growth, including expansion into new markets, pursuing strategic acquisitions, and continued R&D in its decision-support solutions. Leading Edge’s founders will continue to operate the business and retain a significant ownership interest.

Mansa Capital led a management buyout (MBO) recapitalization of Accreon, Inc., alongside certain members of Accreon's management team. The transaction was advised by 7 Mile Advisors as exclusive sell-side advisor, and financial terms were not disclosed. Accreon will continue operations across North America, with leadership transition plans involving current executives and CEO Neil Russon remaining through the transition.