Tracked deals
27
27 tracked deals across 2019-2026.
Operating Company
Financial Services
BDC Capital
Montreal, Quebec, Canada
Investment arm of Canada’s Business Development Bank (BDC) providing venture, growth, and business transition capital (including mezzanine financing) to Canadian companies.
- Focus Areas
- Venture capital, Growth equity, Mezzanine financing
- Website
- www.bdc.ca/en/bdc-capital
Recent pace
3
3 tracked deals announced in the last 12 months.
Deal mix
Growth capital
12 growth capital · 9 buyout · 6 addon
BDC Capital Acquisition Volume by Year
Last 6 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
Showing the 12 most recent of 27 tracked deals for BDC Capital.
-
August 18, 2026
- Buyer
- Fondaction, Business Development Bank of Canada (BDC)
- Target
- Icentia
- Industry
- Healthcare Services
- Location
- Quebec, Canada
- Type
- Growth capital
Fondaction and the Business Development Bank of Canada (BDC) announced an investment in Icentia, a Québec-based medical technology company developing CardioSTAT, a long-term ambulatory cardiac monitoring solution. The funding is intended to accelerate rollout of the technology, expand capacity, and support growth of the company’s cardiovascular diagnostics offering.
-
- Buyer
- Planet First Partners, Business Development Bank of Canada (BDC), Export Development Canada (EDC), Bell Ventures, Firgun Ventures, InBC Investment Corp., Mubadala Capital
- Target
- Photonic Inc.
- Industry
- AI & Machine Learning
- Location
- British Columbia, Canada
- Type
- Growth capital
Photonic Inc. announced the final close of an investment round of over $200 million USD (about $275 million CAD), bringing total capital raised to over $350 million USD. The round is led by Planet First Partners and includes new investors Business Development Bank of Canada (BDC), Export Development Canada (EDC), Bell Ventures, Firgun Ventures, InBC Investment Corp., and existing investor Mubadala Capital, with Evercore as sole placement agent.
-
April 15, 2026
- Buyer
- MKB Equity Partners Inc., National Bank of Canada, BDC Capital
- Target
- Rockit Motors
- Industry
- Industrial Services
- Location
- Quebec, Canada
- Type
- Growth capital
Rockit Motors announced it has secured more than $47 million USD (approximately $64 million CAD) through a mix of equity and debt facilities to expand electric motor, generator and component manufacturing across North America. The financing includes investments and financing partnership from MKB Equity Partners, National Bank of Canada, and BDC Capital, with CEO Rob Briscoe retaining majority ownership and control.
-
June 12, 2025
- Buyer
- The Universal Group, CAI Capital Partners, BDC Capital, Roynat Equity Partners, Frind Enterprises
- Target
- D&H Flagging
- Seller
- Toni Hashash, Shannon Bowden
- Industry
- Transportation
- Location
- Oregon, United States
- Type
- Addon
The Universal Group, a CAI Capital Partners portfolio company, has acquired D&H Flagging, a Portland-based traffic control services provider. The acquisition expands Universal's geographic footprint into Oregon and broadens its traffic control and equipment rental capabilities across the Pacific Northwest.
-
- Buyer
- Barricades and Signs Ltd., Universal Group, CAI Capital Partners, BDC Capital, Roynat Equity Partners, Frind Enterprises
- Target
- Airmaster Sales Ltd.
- Seller
- Liz MacCharles, Quentin MacCharles, Keith MacCharles
- Industry
- Manufacturing
- Location
- Manitoba, Canada
- Type
- Addon
CAI Capital Partners’ portfolio company Universal Group, through its subsidiary Barricades and Signs Ltd., has acquired Airmaster Sales Ltd., a Winnipeg-based manufacturer of traffic control signs serving Manitoba and Saskatchewan. CAI’s equity co-investors in the combined organization include BDC Capital, Roynat Equity Partners and Frind Enterprises; members of the MacCharles family (Liz, Quentin and Keith) will remain involved during the transition.
-
February 19, 2025
- Buyer
- Quadshift, BDC Growth Equity Partners, Celtic House Venture Partners
- Industry
- Cloud & SaaS
- Location
- Ontario, Canada
- Type
- Growth capital
Quadshift, a Toronto-based acquirer and builder of vertical B2B software platforms, announced it has secured up to $23 million in growth equity funding to accelerate acquisitions. The round is led by BDC Growth Equity Partners with participation from Celtic House Venture Partners and other minority investors.
-
December 10, 2024
- Buyer
- The Universal Group, CAI Capital Partners, BDC Capital, Roynat Equity Partners, Frind Enterprises
- Target
- Barricades and Signs Ltd.
- Seller
- Robert van Bruggen, Fran van Bruggen, Barrier Ridge Capital
- Industry
- Industrial Services
- Location
- Alberta, Canada
- Type
- Addon
The Universal Group, a CAI Capital Partners portfolio company, has acquired Barricades and Signs Ltd., a leading traffic control and sign manufacturer headquartered near Edmonton, Alberta. CAI and equity co-investors including BDC Capital, Roynat Equity Partners and Frind Enterprises invested in the combined organization, while Jan van Bruggen will continue to lead Barricades and become a shareholder in the Universal Group.
-
- Buyer
- Clearspring Capital Partners, BDC Growth Equity Partners (BDC Capital), Investissement Québec, BMO Capital Partners
- Target
- INNOTEX Inc.
- Industry
- Manufacturing
- Location
- Quebec, Canada
- Type
- Growth capital
Clearspring Capital Partners announced a growth investment in INNOTEX Inc., a Québec-based manufacturer of firefighter protective suits, alongside founder Louis Carpentier and existing management. The financing—supported by BDC Growth Equity Partners, Investissement Québec and BMO Capital Partners—will fund product, people and geographic expansion as INNOTEX aims to become a North American leader in emergency-services protective apparel.
-
June 13, 2024
- Buyer
- BDC Capital, Investor group led by George Fechter, BCES Global
- Target
- Kroon Electric Corp., Bopat Electric Co., Inc., Transworld, Inc., Sabino Electric, Inc.
- Seller
- Vendors / selling shareholders (leadership teams of the acquired businesses)
- Industry
- Electrical Services
- Location
- Ontario, Canada
- Type
- Growth capital
BDC Capital’s Growth Equity Partners Fund II and an investor group led by George Fechter provided significant growth capital to Kroon Electric Corp., enabling the creation of Canada‑headquartered BCES Global. Concurrent with the investment, BCES Global (with Kroon management) acquired three U.S. electrical services businesses—Bopat Electric Co., Transworld, Inc., and Sabino Electric—to establish a North American consolidation platform focused on recurring preventive electrical maintenance and decarbonization‑related services.
-
- Buyer
- KV Capital (Private Equity Division), ATB Private Equity, BDC Capital
- Target
- Nelson Lumber Company Ltd., Nelson Homes
- Seller
- Current shareholders of Nelson Lumber Company Ltd.
- Industry
- Building Products
- Location
- Alberta, Canada
- Type
- Growth capital
KV Capital’s private equity division has partnered with Nelson Lumber Company Ltd. and Nelson Homes to launch a building products platform, with ATB Private Equity and BDC Capital joining the investment. The transaction provides growth capital to accelerate Nelson Lumber’s operations, expand market reach in Alberta, and support the platform strategy under KV Private Equity Fund III while current shareholders remain involved.
-
December 16, 2022
- Buyer
- Clearspring Capital Partners, OneLink Capital, BDC Growth Equity Partners
- Target
- Groupe Tecnic, École de conduite Tecnic Rive-Nord
- Industry
- Education
- Location
- Quebec, Canada
- Type
- Growth capital
Clearspring Capital Partners and OneLink Capital (with financial participation from BDC Growth Equity Partners) announced a minority growth investment in Groupe Tecnic and École de Conduite Tecnic Rive-Nord. The founding Sévigny and Aubé families remain significant shareholders with management continuity (CEO Mylène Sévigny to remain); the capital will support Tecnic's growth plan and potential expansion beyond Quebec.
-
- Buyer
- The Universal Group, CAI Capital Partners, BDC Capital, Roynat Equity Partners, Frind Enterprises
- Target
- Advanced Traffic Control
- Industry
- Infrastructure
- Location
- Washington, United States
- Type
- Addon
The Universal Group, a CAI Capital Partners portfolio company, has acquired Advanced Traffic Control (ATC), a traffic control services provider based in Auburn, Washington. CAI and co-investors BDC Capital, Roynat Equity Partners and Frind Enterprises backed the transaction as equity co-investors; debt financing was provided by Bank of Montreal, CIBC and Scotiabank. This marks Universal's first U.S. acquisition as part of a contiguous Pacific Northwest expansion, and ATC's founders will remain in leadership and as shareholders.
Related Acquisition Pages
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Acquisitions in Massachusetts
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Acquisitions in Oregon
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Acquisitions in Washington
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