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M&A and Capital Markets select closed deals

Cheers to another successful year.

Our M&A and Capital Markets team is thrilled to have closed 28 deals in 2025. With a solid footprint across Canada, we’ve worked with businesses and their shareholders in industries like manufacturing, retail, technology, real estate, construction, and many others. We're also proud to have supported several cross-border transactions, helping clients navigate opportunities beyond Canada.

Here are more details on the deals we’ve closed this year.

Our M&A and Capital Markets team supports clients with sell-side, buy-side, and capital-raising solutions at each phase of the deal lifecycle—from acquisition strategy development to due diligence and exit strategy. With our team's depth of experience and resources, we can bring tangible value to your transaction.

Learn more about BDO's M&A and Capital Markets service

Select 2026 closed deals

PROFESSIONAL SERVICES

Protocol2 Air Sciences Inc. was acquired by Alliance Technical Group

An Alberta-based provider of industrial stack emissions testing and air monitoring services was acquired by a US-based environmental services platform.

MANUFACTURING

Titan Trailers Inc. has been by acquired CCM Capital Corporation 

A Canadian manufacturer of specialized, heavy-duty trailers was acquired by a financial sponsor seeking to support the company’s continued growth and expansion across North America. 

PROFESSIONAL SERVICES

Altus has divested their Quebec property assessment service line

Altus Group Limited has divested its Quebec municipal property assessment service line to the Fédération québécoise des municipalités (FQM), a non-profit organization serving municipalities across Quebec.

MANUFACTURING

Rudolph Industries was acquired by Permanent Corp.

A leading manufacturer and distributor of industrial blades, knives, and injection needles has been acquired by a large private-equity firm.

Real Estate & Construction

Riverside Rentals has been acquired by Stephenson’s Rental Services Inc.

This acquisition expands Stephenson’s footprint in Southwestern Ontario and supports its continued commitment to providing quality construction and industrial equipment.

Consumer Business

Canadian Organic Spice & Herb Co. Inc. was acquired by Cedar Valley Group

The Saskatchewan-based company (operating under the Splendor Garden retail brand) known for its organic products sold across Canada, will now operate under the Cedar Valley Group.

Enhance your deal value by contacting our M&A and Capital Markets team

Michael Morrow
Partner & National Head of Deals
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Bernard Cormier
Managing Director, M&A and Capital Markets
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Ryan Farkas
Managing Director, M&A and Capital Markets
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Adam Mallon
Partner, Transaction Advisory Services
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Ashwin Nath
Partner and Managing Director, M&A and Capital Markets
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Cameron Percy
Managing Director, M&A and Capital Markets
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Sunil Sharma
National Leader, Transaction Services and Private Equity
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Brian Trainor
Managing Director, M&A and Capital Markets
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Derek Van der Plaat
Managing Director, M&A and Capital Markets
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Select 2025 closed deals

Manufacturing

Canadian Timberframes Limited was acquired by ThirdGen Timber Group

A British Columbia-based manufacturer of premium timber frame homes and structures was acquired by an Ontario-based log and timber construction business.

Manufacturing

BARR Plastics Inc. was acquired by Omax Investments Ltd.

The provider of environment enhancing solutions will collaborate closely with a division of Omax Investments to deliver more robust and integrated stormwater and wastewater management solutions.

Professional Services

The Humphrey Group and Niagara Institute have been acquired by Humance

A Canadian leadership development and communication training provider was acquired by a human-capital consulting firm specializing in organizational culture, talent assessment, and workforce transformation.

Manufacturing

BDO advised on the transaction of a large regional power systems manufacturer

A leading Canadian manufacturer of power system products for the mining, industrial, and construction markets has been acquired by a leading industrial construction and maintenance service provider.

Consumer Business

European Boutique and Diamonds Direct entered into a transaction with Birks Group Inc.

An Ontario-based luxury watch and jewellery business has been acquired by Birks Group, a premier Canadian designer and retailer of luxury jewellery, watches, and gifts. Birks has also entered into a licensing agreement to operate the Canadian brand, Diamonds Direct.

Technology, Media & Telecommunications

CAST Group of Companies was acquired by Vertus Group, a division of Jonas Software

A member of the Constellation Software family has acquired an Emmy Award-winning developer of software and hardware solutions for the entertainment industry.

Consumer Business

JMP Powersports Group Inc. has acquired a complementary powersports product wholesaler

A leading national distributor of powersports parts and accessories acquired a complementary powersports product wholesaler. This transaction accelerates JMP Powersports Group’s growth and strengthens its competitive position in the Canadian powersports industry.

Consumer Business

A consumer business was recapitalized via a $100,000,000 financing

A Quebec-based consumer business was recapitalized via senior debt financing provided by a Canadian chartered bank.

Real Estate & Construction

Crescent Beach Marina was acquired by Mud Bay Holdings

A full-service marina in the Greater Vancouver Area has been acquired by a private investment company.

Manufacturing

Control Innovations Inc. was acquired by Solution Control Systems Inc.

A Calgary-based contract manufacturer was acquired by an industrial automation system integration company based in Edmonton.

Real Estate & Construction

Peters Bros. Construction Ltd. was acquired by VINCI

A leading Western Canadian paving contractor has been acquired by an international construction company.

Professional Services

AEM Group of Companies was acquired by Service Logic

A leading provider of building automation controls and services serving the commercial, manufacturing and industrial sectors has been acquired by a large private equity backed building facilities services consolidator.

Manufacturing

EMEC Machine Tools Inc. was acquired by an investor group

A Canadian distributor of advanced manufacturing solutions to the metalworking industry was acquired by a private investor group including Peter Sheridan, Ian Candolini, and Luke Szymanski. All three will all step into leadership roles at the company as part of this transition.

Financial Services

Miller Insurance Brokers was acquired by Collectivfide Insurance Group Inc.

A multi-location brokerage based in the Owen Sound and Kincardine region of Ontario has been acquired by an insurance company.

Real Estate & Construction

RWC Systems Inc. received a strategic investment from Corbell Private Capital

A leading Western Canadian installer of wall and ceiling systems in commercial and industrial construction projects, has received a strategic investment from a Canadian investor group.

Automotive Retail

A Hawkesbury based dealership group was acquired by the McLean Family, owners of Groupe Circuit Ford Lincoln

An Ontario-based automotive retail group has been acquired by an automotive retail group in Quebec expanding its brand offerings.

Select 2024 closed deals

Professional Services

B.I.G. Consulting Inc. was acquired by MTE Consultants Inc.

A leading boutique environmental and geotechnical consulting company was acquired by a multidisciplinary engineering firm.

Consumer Business

Smith’s Funeral Homes received Capital Advisory services for a transaction

BDO provided Capital Advisory services to a family-owned and -operated funeral home and crematorium based in Ontario.

Other

Powertech Labs received Capital Advisory services for financing

BDO provided Capital Advisory services to one of the largest power generation, testing, and research lab companies in North America.

Manufacturing

Wire Mesh Belt Co of Canada Limited was acquired by Belt Technologies Inc.

A leading manufacturer and supplier of metal conveyor belting was acquired by a US-based strategic buyer.

Professional Services

BDO Canada LLP divested select offices to MNP LLP

BDO Canada LLP divested 21 regional offices across B.C., Alberta, Ontario, and P.E.I. to MNP LLP.

Professional Services

BDO Canada LLP has divested its insurance claims business to KPMG Canada

BDO Canada divested its accidental benefits practice to KPMG Canada.

Manufacturing

Daytech Limited was acquired

A premier manufacturer of transit shelters based in Ontario was acquired.

Healthcare

CB Medical Inc. was acquired by The Stevens Company Limited

An Alberta-based medical and pharmaceutical supply company has been acquired by a leading Canadian provider of healthcare products and services.

Real Estate & Construction

Tri-City Equipment Rentals was acquired by Toromont Industries Ltd

A industry leader in heavy equipment rental business was acquired by a global leader in construction, mining, and engineering equipment manufacturing.

Consumer Business

Kitchener Mitsubishi was acquired by CanadaOne Auto Group

An Ontario-based automotive dealership was acquired by CanadaOne Auto Group, a leading Canadian dealership network.

Consumer Business

Guelph Toyota was acquired by CanadaOne Auto Group

A premier automotive dealership in Ontario was acquired by CanadaOne Auto Group, a leading Canadian dealership network with a national presence.

Manufacturing

Gemcast Manufacturing Inc. was acquired by Allied Mineral Products

A custom refractory solutions provider in Ontario was acquired by a global leader in refractory technology.

Professional Services

Ergoworks Canada Inc. was acquired by The Collective

A premier office and commercial space design and furnishing company in Ontario was acquired by North America’s go-to company for designing and furnishing office spaces.

Real Estate & Construction

Rent All Centre and Skyhigh Platforms Limited were acquired by Cooper Equipment Rentals Limited

Southeastern Ontario providers of construction equipment and tool rentals were acquired by an Ontario-based equipment rental company.

Manufacturing

Enerquin Air was acquired by Canerector Inc.

A Quebec-based designer and manufacturer of industrial ventilation systems has been acquired by a family of industrial companies.

Transportation, Warehouse & Distribution

Octopus Products Ltd. was acquired by Wilsonart LLC

A premier distributor of laminate sheets and surfacing products in Ontario was acquired by a world-leading engineered surfaces company based in Temple, TX.

Technology, Media & Telecommunications

Burkitt Computer Corporation was acquired by MDpanel LLC

An Ontario-based software company has been acquired by a major U.S. medical evaluation provider.

Real Estate & Construction

Technicore Underground Inc. was acquired by an affiliate of Capital Infrastructure Group Inc.

A leading Ontario tunneling company was acquired by a vertically integrated infrastructure construction company.

Consumer Business

Pet Planet was acquired by Resilient Management

A Canadian-based franchisor and retailer of premium pet products was acquired by a private investment company.

Business Services

Bluewater Sanitation Inc. was acquired by Environmental 360 Solutions

A long-standing distributor of portable toilet rentals has been acquired by a vertically integrated provider of waste management solutions.

Professional Services

DEC Enviro was acquired by Fondasol Group

A Canadian multidisciplinary environmental engineering firm was acquired by a French-based engineering and consulting company.

Manufacturing

Proceco Ltd. was acquired by Beyond the Dotz

A Montreal-based designer and manufacturer of industrial parts cleaning systems was acquired by a private investment company.

Technology, Media & Telecommunications

Otodata and Tag Tracking was recapitalized by Renovo Capital

A Canadian remote tank monitoring and stolen vehicle tracking provider was recapitalized by a Dallas private equity firm.