Rebound doesn't adequately describe Canadian M&A activity in the first quarter of the year. We hit the ground running in 2021, racking up record levels of volume and value. Closed borders and deal process hurdles did little to slow the pace: cross-border activity - particularly US-Canada - accelerated, alongside an increase in domestic deal making. In this issue of Straight Talk, we dig into Q1/21's record results, taking a hard look at the dynamics behind the data. Miller Thomson Partners from our offices in Montreal, Toronto, Edmonton and Vancouver provide their insights, supplementing the data with first-hand experiences from their respective group's practice.
This issue marks the launch of our Sector Spotlight feature: an industry-focused discussion with deal makers and advisors. We kick off with a conversation about the transportation and logistics (T&L) space. In our M&A review, Miller Thomson Partner, Louis Amato-Gauci, provides T&L-focused perspectives gleaned as a legal advisor to buyers, investors and sellers. In our interview feature, we speak with two deal makers active in the T&L space: Peter Stefanovich, Managing Partner - M&A, with Left Lane Associates, a M&A advisory firm focused exclusively on the North American supply chain industry, and Robert Fedrock, Principal at Origin Merchant Partners, a leading independent Canadian investment bank. Peter and Robert share their well-informed views on the T&L space, providing insights into key growth drivers and deal dynamics in an active market. Peter's interview is on page 12, and Robert's on page 14, following our M&A review.
As we move towards the summer months, with Canada rapidly gaining ground on the vaccine front, our optimistic outlook, expressed cautiously in the last issue, is heightened. Capital remains abundant, with US private equity fundraising rebounding in the first quarter. There is a strong indication, given Miller Thomson's robust deal advisory activity across Canada, and through our conversations with numerous investors and business owners, that it is going to be a busy summer.
On a closing note, as always, please don't hesitate to reach out if you'd like to learn more about our advisory expertise in the Canadian mid-market, or to discuss this publication. We are always happy to have a conversation.
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