Acquisitions in Quebec, Canada

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.

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.

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.”

Syntax Systems announced plans to acquire Montréal-based Beyond Technologies and its subsidiaries. The combination will expand Syntax’s global SAP integration and cloud application implementation capabilities, creating a combined team of more than 2,800 experts serving over 900 clients worldwide. The transaction is expected to close later this quarter, subject to customary conditions and regulatory approvals; 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.

Sun Life Financial Inc. entered into an arrangement agreement to acquire all outstanding common shares of Dialogue Health Technologies Inc. for C$5.15 per share, valuing Dialogue at approximately C$365 million on a fully diluted basis. Dialogue will continue to operate as a standalone entity headquartered in Montréal, Québec, with certain members of executive management rolling equity and retaining a minority stake post-close.

JDM Technology Group acquired Mobile-Punch, a Lévis, Quebec-based mobile timesheet, scheduling, and project management application. The deal closed on June 30 following approval from owners Jérôme Guay and Bryan Porter, who will remain in leadership roles as President and Vice President, respectively.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Valtech, a global business transformation agency, has acquired Absolunet, a Montreal-based professional services firm focused on commerce and digital transformations. The deal adds roughly 300 Absolunet experts to Valtech’s global team and strengthens Valtech’s capabilities across commerce platforms and integrated digital experiences. 7 Mile Advisors served as exclusive sell-side advisor to Absolunet.

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.

An investor group led by Champlain Financial Corporation, alongside Desjardins Capital, Fondaction, and Société Financière Bourgie, has acquired JLD-Laguë, a Canadian John Deere equipment and Peterbilt truck dealership network operating across Quebec and Eastern Ontario. Champlain and certain prior investors reinvested as part of a continuation-fund strategy to support ongoing growth through organic initiatives and acquisitions. Financial terms were not disclosed.

GenNx360 Capital Partners’ portfolio company, Pacteon, acquired Quebec-based Phoenix Wrappers (Phoenix), a supplier of semi- and fully-automatic stretch wrapping equipment. The acquisition adds state-of-the-art stretch wrapping technology to Pacteon’s portfolio and expands its packaging line integration capabilities. Phoenix is headquartered in Laval, Quebec.

Hornetsecurity Group, a cloud email security provider, has acquired Zerospam, a Montreal-headquartered email protection specialist, to expand its reach in North America. The deal is supported by Hornetsecurity shareholders PSG and Verdane, and financial terms were not disclosed.

Alithya Group Inc. reached a definitive agreement to acquire R3D Conseil, a Quebec-based digital solutions firm, for an evaluated purchase price of C$76.0 million (excluding assumed debt) paid primarily in Alithya shares. The transaction also includes 10-year commercial agreements with Québecor and Beneva (via La Capitale), R3D Conseil’s indirect principal shareholders, with annual minimum volume commitments totaling approximately C$600 million in combined revenues.

Champlain Financial Corporation and GefCo acquired Naya Waters, returning the business to 100% Quebec-owned and operated. Naya Waters, headquartered in Mirabel, Quebec, produces natural spring water and the acquisition is intended to support accelerated development and new products/packaging across Canada. Financial terms were not disclosed.

A group of Quebec investors led by Champlain Financial Corporation formed Humanity Bakeries Inc., an investment platform focused on Quebec’s specialized bakery and pastry industry. Humanity Bakeries has acquired Maison Isabelle Inc., a Trois-Rivières-based manufacturer of four-quarter-style cakes sold across Canada, to combine with existing platform company Boulangerie-Pâtisserie Dumas Inc. Financial terms were not disclosed.

An investor group led by Champlain Financial Corporation, including Fondaction, acquired a majority stake in the Wong Wing business unit in partnership with McCain Foods Canada. The transaction creates a new frozen food platform, MLW Foods Inc., based in Montreal, Quebec, to expand the Wong Wing brand and grow across North America. Terms of the transaction were not disclosed.

Deschênes Group Inc. (DGI) acquired Powrmatic of Canada Ltd., a Montreal-based distributor serving the HVACR, electrical, and hearth industries. Powrmatic was owned by Stamm International Corporation, and the transaction was advised by Capstone Partners. The deal is described as a strategic add-on for DGI, expanding complementary products and branch locations across Canada.

A group of Quebec investors led by Champlain Financial Corporation (CFC) has acquired Boulangerie-Pâtisserie Dumas Inc., a Canadian producer and distributor of puff pastries, croissants, and vol-au-vents. The acquisition is intended to support accelerated product development and expand distribution across Canada and into the United States; financial terms were not disclosed.

StoneCalibre completed the sale of its portfolio company XMedius Solutions to Canada-based OpenText. XMedius provides secure enterprise communications solutions, including on-premise and cloud communications offerings for regulated and sensitive data exchange.

Kersia, backed by private equity firm Ardian, has acquired Choisy Laboratories Ltd., a Louiseville, Québec-based developer and manufacturer of chemical, biotechnological, and biosecurity hygiene solutions, for an undisclosed amount. The sellers were the Trudeau family and Champlain Financial Corporation, which had invested in Choisy in 2015. The deal expands Kersia’s North American footprint and adds new food safety and biosecurity technologies.

NEOMED-LABS / Pacific Biomarkers (NLPBI) announced the acquisition of PAIRimmune, a preclinical immunology contract research organization based in Laval, Quebec. The deal strengthens NLPBI’s immunology services offering, expanding capabilities in ligand binding and neutralization assays R&D, flow cytometry, and in vivo/ex-vivo/immunohistology components. PAIRimmune will continue operating under the leadership of CEO Danielle Poirier and will be rebranded alongside NEOMED-LABS and Pacific Biomarkers under a new corporate identity.

Comvest Partners’ portfolio company Engage2Excel Group of Companies (E2E Group) added Rideau, Inc., a global employee recognition solutions provider, to strengthen its career experience platform. Rideau, headquartered in Montreal, provides an integrated recognition platform and analytics capabilities aimed at improving employee engagement and retention.

Wynnchurch Capital, LLC acquired Alliance Designer Products, Inc., a manufacturer of polymeric sand and related installation products used in residential and commercial hardscaping projects. Alliance serves customers in Canada, the United States, and Europe from its headquarters in Mirabel, Québec.

LaSalle Capital and its portfolio company Gen3 Marketing acquired OPM Pros, an affiliate marketing agency based in Montreal, Quebec. The transaction combines two major affiliate marketing agencies in North America, with Gen3’s co-CEOs leading the combined business and OPM Pros’ co-founders joining senior management.

CGI Group Inc. acquired technology services consultant Netplex Retail Group, along with electronic solutions provider Myriap, for approximately C$9.7 million. CGI expects Netplex to strengthen its retail-sector capabilities, and several Netplex executives will join CGI in leadership roles.