Mergers & Acquisitions:

• Power generation:
  Houston based VoltaGrid LLC, a behind-the-meter power generation business, announced the acquisition of Calgary based Propell Energy Technology Ltd., a provider of energy equipment solutions for the oil & gas and power generation sectors.

• Financial services:
  Prospera, Coast Capital and Sunshine Coast credit unions closed their merger to form a national credit union with over $40B in assets under administration, 730,000 members and 70 branches.

Other:

• Software:
  Saskatoon based Vendasta, an AI tech company focused on workforce tools and AI employees, announced a deal with Italiaonline, Italy’s largest internet company, to roll out an AI-driven employee platform to over 100,000 SMBs across Italy.

• Retail:
  Winnipeg based clothing retailer Warehouse One Clothing Ltd. filed for creditor protection under CCAA and will close all 128 stores operating under its Warehouse One and Bootleggers banners.

• Economic update:
  According to Stats Canada, the national unemployment rate rose from 6.7% in March to 6.9% in April. The national economy lost 18,000 jobs in April (a loss of 49,000 full time jobs were offset by an increase in 29,000 part time positions).

We have a Canadian Energy Services weekly newsletter for our network operating within the sector.