Tue, Feb 15, 2022

Canadian M&A Insights - Winter 2022

Howard Johnson

Devin Kennealy

In 2021, Canadian M&A activity surpassed pre-pandemic levels in both transaction count and total implied enterprise value (EV). There were 2,117 Canadian companies sold in 2021, a historical record high. The total disclosed EVs of the 2,117 transactions were $117.7 billion, a 91% increase in comparison to the previous year. Of the transactions completed, 73% were domestic acquisitions, which is in line with historical averages.

Canadian M&A Insights – Winter 2022

Low interest rates, accelerated transaction timelines and abundance of capital in the market have been key factors in the 24% YoY increase in completed deals. Additionally, the median deal value sharply increased from $4.1 million in 2020 to $8.3 million in 2021 as deals under $50 million represented 77% of the deal count. Although megadeals represent only 5% of all transactions, they represented 75% of the total deal value.

Read our latest report for insights and trends in valuation multiples, cross-border transactions and M&A deal activity.

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M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.

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Fairness and Solvency Opinions

Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of fairness opinions in the U.S., EMEA (Europe, the Middle East and Africa), Australia and Globally in 2023 according to LSEG (FKA Refinitiv).

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