Wealth Management Acquisitions in Canada

Harbourfront Wealth Holdings Inc. has acquired Millar Private Wealth Management Inc., adding approximately $800 million in assets under administration and bringing Harbourfront's total AUA to over $12 billion. The deal is an add-on acquisition to Harbourfront’s growing independent wealth platform as it continues to expand its national footprint and technology-enabled service offering.

Harbourfront Wealth Holdings Inc. has acquired KJ Harrison & Partners, a boutique wealth management and CIRO-registered investment dealer. The deal expands Harbourfront's assets under administration to nearly CAD 11 billion and strengthens its capabilities serving high-net-worth clients and family offices across Canada.

Harbourfront Wealth Management has acquired Rothenberg Wealth Management, including Rothenberg & Rothenberg Annuities, expanding Harbourfront's assets under administration to approximately CAD$8 billion. The acquisition enhances Harbourfront's presence in Québec and Alberta and integrates Rothenberg's Montreal and Calgary offices into Harbourfront's national advisor network.

Slate Asset Management has completed the acquisition of Presima, a Montreal-based specialist investment manager focused on global real estate securities, adding approximately $1.1 billion in assets. The deal, which closed on June 10, 2022, brings a team of investment professionals to Slate and expands its public market real estate investing capabilities in North America.

Audax Private Equity completed a strategic growth investment in The Harbourfront Group, valuing the Vancouver-based wealth management platform at an enterprise value of CAD $425 million. The minority investment will provide liquidity to Harbourfront’s shareholders (including its team of investment advisors) and support the company’s organic growth and buy‑and‑build acquisition strategy across Canada.

Purpose Advisor Solutions (majority owned by Purpose Financial) has acquired the Wealthsimple for Advisors business to create a single, advisor-focused wealth platform in Canada. The deal combines teams and technology to scale Purpose Advisor Solutions’ end-to-end advisor offering and accelerate investments in portfolio management, CRM, reporting, compliance and other digital services; Wealthsimple leaders J‑F Courville and Dave Nugent will join PAS as managing partners.

Onex Corporation agreed to acquire 100% of Gluskin Sheff + Associates Inc. for C$14.25 per share (approx. C$445 million) in an all-cash transaction announced March 22, 2019. The deal brings together Onex's private equity and credit platforms with Gluskin Sheff's wealth-management and public-securities investing capabilities to broaden client product offerings.