Acquisitions in Ontario, 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.

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.

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.

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.

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.

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.

The Mufflerman Inc., a portfolio company of Argyle Capital Partners, acquired five automotive repair and tire service locations operating under the EuroMechanic brand umbrella in the Greater Toronto Area and Guelph from Carflex Capital. The transaction closed on November 3, 2023, and EuroMechanic will continue operating as a distinct division within The Mufflerman.

AMCS has acquired FigBytes, a sustainability and ESG reporting software provider, for an undisclosed amount. The deal expands AMCS’s cloud-based EHSQ/ESG capabilities and strengthens its ESG market presence, combining AMCS’s European footprint with FigBytes’s strong North American presence.

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.

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.

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.

Practice Better acquired That Clean Life, a Toronto-based nutrition planning software provider for health and wellness professionals. The deal expands Practice Better’s all-in-one practice management platform by adding integrated nutrition planning and healthy eating workflows for practitioners and their clients.

Hexagon AB announced the acquisition of HARD-LINE, a provider of mine automation, remote-control technology, and mine production optimisation solutions. The deal strengthens Hexagon’s mining automation and safety offerings and will add HARD-LINE into Hexagon’s Mining division to complement products such as HxGN Underground Mining, HxGN Autonomous Mining, and the HxGN MineProtect platform.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Resurgens Technology Partners made a platform investment in i-Sight, a provider of investigative case management software for HR, compliance, and corporate security functions. The transaction terms were not disclosed, and i-Sight announced David McNeill as its new CEO as part of the investment.

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.

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.

ONCAP purchased a majority stake in Merrithew International Inc. in partnership with founders Lindsay and Moira Merrithew. Merrithew is a global developer, manufacturer and retailer of Pilates equipment and accessories and provides fitness instructor education and certification programs under multiple brands. Transaction terms were not disclosed.

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.

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.

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.

Nova Vida GP Inc, an Ontario-based investment firm, completed the acquisition of Thai Indochine Trading Inc (dba TI Foods), an importer and distributor of Asian food products serving grocery stores across Canada. As part of the transaction, Piyush Kunnapallil (President of Nova Vida) will become CEO of TI Foods, while the existing management team will remain involved. TI Foods also referenced Sage Capital Partners as an equity investor supporting the company’s growth plans.

Ironbridge Equity Partners, together with management, completed the sale of Alliance Corporation to an entity controlled by Lee Equity Partners and Twin Point Capital. Financial terms were not disclosed. Alliance is a value-added distributor of wireless communications technology serving wireless carriers across North America.

Brainlabs, a digital marketing agency, has acquired Canadian programmatic agency MediaNet to expand its North American footprint. The deal strengthens Brainlabs’ programmatic and dynamic creative capabilities and adds deeper expertise in Google’s MarTech stack, with MediaNet becoming a specialist branch supporting clients across North America.

DW Healthcare Partners (DWHP) announced the completion of its investment in Bio Agri Mix, a Canadian manufacturer and distributor of medicated feed additives and water-soluble medications for livestock. The partnership will support Bio Agri Mix’s continued growth and expansion of its product portfolio in the animal health pharmaceutical market.

CAI Capital Partners’ portfolio company Universal Group acquired Beacon Lite (Ottawa) Ltd. and Signebec to expand its traffic control services footprint across Canada. Beacon Lite’s leaders, Luc Lemay and Simon Lemay, will continue to lead the business and become shareholders in the combined organization. CAI’s co-investment partners include BDC Capital, Roynat Equity Partners, and Frind Enterprises.

Right Time Group of Companies acquired Comfort Masters LTD., a residential HVAC, air quality, and hot water services provider serving multiple regions in Ontario. Comfort Masters’ management and employees will join Right Time as the company continues its expansion across Ontario. Transaction terms were not disclosed.

The Sunrock Group, through its Canadian affiliate, acquired Fenelon Ready-Mix, a ready-mix concrete business located in Fenelon Falls within Kawartha Lakes, Ontario, Canada. The deal expands Sunrock’s construction materials footprint in Ontario and follows prior acquisitions in the region, including a licensed aggregate quarry and Spartan Ready-Mix.

Trendline Interactive acquired Canadian data and analytics consultancy Data Insight Group (DiG) to expand and strengthen its data science and analytics capabilities for marketing-focused clients. The transaction was completed with financial support from mid-market private equity firm Growth Catalyst Partners (GCP), and financial terms were not disclosed.

The Shaughnessy Group completed a sell-side mandate resulting in the sale of an unnamed integrated provider of water infrastructure solutions, with the transaction closing in January 2021. The sale process began in spring 2020 and was run as a competitive, confidential auction that concluded with a letter of intent and completion after due diligence.

Open Farm raised $65MM+ in a minority growth funding round led by General Atlantic. Existing minority partner Encore Consumer Capital is participating alongside the company’s leadership team. The capital will support Open Farm’s expansion and innovation in premium, ethically sourced pet nutrition.

GenNx360 Capital Partners’ portfolio company Precision Aviation Group, Inc. (PAG) acquired World Aviation Corporation (WAC). The Toronto-based acquisition expands PAG’s MRO capabilities into electric motor and generator sub-component rewind and repair services and increases PAG’s footprint in Canada.

Tangent Technologies acquired Home & Leisure, a vertically integrated extruder, fabricator, and assembler of plastic lumber furniture serving the mass-market casual furniture segment. Tangent Technologies is a portfolio company of The Sterling Group, a Houston-based middle-market private equity firm.

Quisitive Technology Solutions, Inc. agreed to acquire all issued and outstanding shares of Corporate Renaissance Group Inc. (CRG), a Microsoft technology and consulting provider headquartered in Ottawa, Ontario. The transaction was facilitated by IT ExchangeNet (ITX) and is intended to expand Quisitive’s North American footprint and enhance its Microsoft Dynamics 365, Azure, and Office 365 service capabilities.

Thoma Bravo, LLC has completed the acquisition of Autodata Solutions Group, a provider of automotive data and software/SaaS solutions. Financial terms were not disclosed, and RBC Capital Markets and KKR Capital Markets LLC provided financing for the transaction.

SinglePoint Group International Inc. acquired PR Exchange Group of Companies Inc., a sales and marketing support firm focused on B2B revenue acceleration services. Under the agreement, the PR Exchange team will operate out of SinglePoint’s call centre in Toronto while continuing to do business under the PR Exchange brand.

Lynx Equity Limited acquired Alpine Shredders, a Kitchener, Ontario-based manufacturer of purpose-built mobile shredding trucks. Alpine Shredders’ President, George Doerr, will remain with the company as it continues serving the mobile shredding equipment market. The transaction was facilitated by RBC’s Mid-Market Mergers and Acquisitions group, with diligence support from Minden Gross and Deloitte.

Namakor Holdings announced the acquisition of B & C Packagings and Film Tech Plastics. The acquired operations will be integrated into Namakor’s Gelpac unit to expand manufacturing capacity for polyethylene packaging products and support Gelpac’s growth in the North American market.

Funds managed by Blackstone Tactical Opportunities acquired a majority stake in TITUS, a provider of data classification and categorization solutions. TITUS is headquartered in Ottawa, Canada, and the terms of the transaction were not disclosed. The investment is intended to support TITUS’s geographic expansion and innovation in data-centric security.

Deluxe Corporation signed an agreement to acquire RDM Corporation, a Waterloo, Ontario-based provider of remote deposit capture software, hardware, and digital imaging solutions. The transaction was completed on April 4 following shareholder and Canadian regulatory approval, and is intended to enhance Deluxe’s WAUSAU Financial Systems treasury management solutions offering.

Kontrol Energy Corp. completed the acquisition of Ortech Consulting Inc., an engineering consulting firm focused on greenhouse gas reporting, air and emissions testing, and renewable energy/power consulting. The deal had an aggregate purchase price of $4.6 million, paid in cash at closing, and was supported by a $4.0 million secured bridge loan from the Pinnacle Absolute Return Trust.

Nexonia and Tallie announced a merger, effective immediately, combining their time and expense management offerings into a larger independent expense management platform. The combined business will provide SaaS financial management software with configurable integrations and customer support, operating from offices in Canada and the United States.