BDO Canada supported over $16 billion of market transactions in 2021

May 17, 2022

2021 was an excellent year for mergers and acquisitions in Canada. Professional services firm BDO Canada responded to increased demand for deal advisory services, supporting over $16 billion of market transactions.

TORONTO, ON - Worldwide deal-value increased from $3.7 trillion in 2020 to $5.3 trillion in 2021, making it a high-growth year for M&A. This included over $1 trillion of deals by financial investors, including such as pension plans, sovereign wealth funds, private equity firms, hedge funds, and venture capitalists.

The Canadian deals market also hot, translating into demand for M&A and capital advisory services for private capital investments in private equity, infrastructure, real estate, and private debt.

Throughout 2021, assurance & accounting, tax, and advisory firm BDO Canada supported more than 150 transaction with a combined deal-value of over $16 billion. Among these deals, transactions involving private capital accounted for more than 70% of the projects completed, as Canadian capital markets rebounded significantly after a volatile year in 2020 due to the pandemic.

Michael Morrow, Leader of M&A and Capital Markets at BDO Canada said, “2021 was a robust year for investors and sellers alike, including very strong deal activity supported by the largest, ongoing wealth transfer in Canadian history, record low interest rates and the robust return of institutional investors to the capital markets. Our deal experience gave us the ability to service the vibrant Canadian market in 2021, at levels not seen since before the global financial crisis. We observed exceptional deal values and volumes across sectors, including infrastructure, technology, life sciences and manufacturing, which are the fastest growing industries of M&A activity across the Canadian firm.”

Among the largest deals that BDO Canada supported, the firm acted as advisor to:

  • CPC Pumps. BDO Canada's M&A and Capital Markets team acted as exclusive financial advisor to CPC Pumps last year by assisting the business owners throughout the divestiture of their company which was acquired by Atlas Copco. Atlas Copco is a Swedish multinational that manufactures industrial tools and equipment. CPC Pumps joins its Gas and Process division.
  • Société québécoise des infrastructures (“SQI”) and Pomerleau Capital. BDO Canada's Valuations & Modelling team performed a financial model review related to the SQI project for the construction of four new schools. BDO's client, Pomerleau Capital, was ultimately selected as the preferred proponent for the project.

The remainder of this year looks promising and BDO Canada anticipates deal activity to remain strong, driven by robust economic growth in the Canadian marketplace, access to record amounts of liquidity, and aging demographics. While the public markets have been very volatile of late, due to a number of risk factors including ongoing supply chain disruption, increasing inflation and interest rates, geopolitical risk, and labour shortages, Canadian mid-market M&A activity and valuations have remained relatively stable through this period. Something BDO has been preparing for by investing in and growing its Private Capital business.

Sunil Sharma, Leader of Private Equity & Financial Due Diligence Services confirmed, “We've continued to grow and develop our Private Capital practice, with over 80 new hires in 2021, while responding to both current and future needs of our clients with leading advice, quality and timely service and expertise. Our Private Capital team also welcomed 10 new partners in 2021 to help service institutional investors and their portfolio investments. We continue to see a very active deals environment in 2022, including a strong pipeline of projects across our business.”

Further reading: BDO Canada's 2021 Deals in Review

About BDO Canada LLP

BDO is a leading provider of professional services to clients of all sizes in virtually all business sectors. Our team delivers a comprehensive range of assurance, accounting, tax, and advisory services, complemented by a deep industry knowledge gained from nearly 100 years working within local communities. As part of the international BDO network, we're able to provide seamless and consistent cross-border services to clients with global needs.

To learn more about BDO Canada's deal activity, please contact:

Michael Morrow
Partner and Managing Director, M&A and Capital Markets
National Leader, M&A and Capital Markets

Sunil Sharma
Partner and Managing Director, M&A and Capital Markets
National Leader, Financial Due Diligence and Private Equity

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