Western Canada M&A Weekly Update
Emera Inc. (TSX:EMA) announced the $14.3B all-stock acquisition of Canadian Utilities Ltd. (TSX:CU), creating a top 20 North American utility company with a $72B enterprise value. Emera shareholders will own 60% of the combined entity while Canadian Utilities will own 40%. The combined entity announced a $32B 5-year CapEx program targeting a 7-8% annual rate base growth.
AutoCanada Inc. (TSX:ACQ) acquired two Colorworks Autobody collision repair facilities in Coquitlam and Port Coquitlam, BC respectively with a combined 12,100 sq ft collision repair footprint.
Vancouver based Harbourfront Wealth Group acquired Montreal based Galliant Advisors LP, an investment management firm that will join Harbourfront’s investment counsel portfolio managers (IPCM) division.
Las Vegas based Tritent International Corp. (OTCID:TICJ) acquired Burnaby based Super Fresh Foods Inc., the owner and operator of AllYourMeals.com, a subscription-based prepared meal company supported by a proprietary digital commerce platform.
Edmonton based Infinite Event Services, an event rentals and staging business, acquired Edmonton based Allstar Show Industries, a live event production and audio-visual work provider.
Calgary based High Tide Inc. acquired a cannabis retail store in Chestermere for $0.67MM cash, representing a 2.1x Adjusted EBITDA multiple.
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