đ Canada Deal News â October 15, 2025 (Evening Edition)
Top Signal: Disclosed deal values and fresh capitalâlike Desjardinsâs $1.67B buy and Spring Impactâs $14M fundâare setting new benchmarks. Owner
đ¨đŚ National Deal Watch
Desjardins doubles down on asset management with $1.67B Guardian Capital buy
Desjardins Group is finalizing a $1.67-billion acquisition of Guardian Capital, with leadership already signaling more M&A ahead. This is a clear sign: scale and recurring revenue are driving premium valuations in Canadian financial services.
For asset/wealth managers, this deal provides a hard benchmarkâplatforms with sticky clients and resilient margins are in demand.
Ask yourself: Is your business âplatform-worthyâ for a buyer seeking scale or new distribution?
https://www.theglobeandmail.com/business/article-desjardins-group-guardian-capital-denis-dubois-finance-insurance/
Cenovus grabs 8.5% of MEG Energyâdeal faces scrutiny
Cenovus Energyâs open-market purchase of 21.7 million MEG Energy shares (8.5%) is under regulatory review after allegations of an unfair bidding process. For energy founders, this is a reminder: even minority stake sales can trigger scrutiny, especially when strategic buyers are involved.
If youâre considering a partial sale or recap, be ready to defend your valuation and process.
http://www.dobenergy.com/audio/2025/10/14/cenovus-acquires-85-of-meg-energy-common-shares
https://www.theglobeandmail.com/business/article-smead-capital-cenovus-meg-strathcona-alberta-securities-commission/
Collective Metals seeks $1.5M via private placement at $0.085/unit
Collective Metals is raising up to $1.5 million at $0.085 per unit. For resource or early-stage public companies, this is a real-time reference for unit pricing and dilution in a risk-off market.
https://www.cbj.ca/collective-metals-announces-private-placement/
Takeaway:
Use these disclosed prices and terms as your yardsticks. If youâre in a consolidating sector or raising capital, benchmark your margins, scale, and customer stickiness against these comps. If your deal could attract regulatory attention, prep your process and valuation defense now.
đ˛ Western Canada Watch
Spring Impact Capital closes $14M fund for climate and healthtech
Vancouverâs Spring Impact Capital has closed a $14-million fund, already investing $2 million across eight startupsâaverage cheque size: $250K. This is a direct signal of fresh early-stage capital for Western Canadian climate and healthtech founders.
https://betakit.com/spring-impact-capital-closes-14-million-fund-to-grow-canadas-climate-and-healthtech-ecosystem/
Tariffs and productivity: Macro headwinds for BC operators
A Bank of Canada official warns that tariffs are squeezing BCâs productivity, calling for tax reform to attract investment. For owners, this means buyers may price in more riskâexpect lower multiples or tougher terms if margins are under pressure.
https://www.westerninvestor.com/economy-law-politics/tariffs-heighten-urgency-to-boost-bc-productivity-boc-official-warns-vancouver-audience-11352973
Industry minister promises relief for tariff-hit softwood lumber sector
Federal relief is coming for Canadaâs softwood lumber sector, but details are pending. Until then, buyers and lenders will watch for real impact before adjusting risk models.
https://www.westerninvestor.com/national-business/industry-minister-says-relief-coming-for-tariff-hit-softwood-lumber-sector-11353024
Bottom line:
This weekâs Western signals are about new capital, macro headwinds, and policy shifts. Owners: get ahead of the narrativeâknow how these trends affect your margins and valuation story before buyers do.
đ Surf, Turf and Arctic
Federal $2.3M injection into Manitobaâs Digital Media & AI sector
Ottawa is investing over $2.3 million into Manitobaâs digital media and AI sector. This government capital validates the sector and can attract follow-on private investment, potentially boosting valuations for early movers.
https://www.winnipegfreepress.com/business/2025/10/15/ottawa-tabs-2-3m-to-accelerate-ai-adoption-digital-media-sector-in-manitoba
Cow-calf producers rushing to incorporate amid high prices
A surge in cow-calf producers incorporating ahead of fall sales signals owners are prepping for liquidity events or optimizing for future exits. High commodity prices often precede a wave of exits or recapitalizations.
https://www.producer.com/opinion/high-prices-see-cow-calf-producers-rushing-to-incorporate/
Canola prices rallyâimplications for ag valuations
Canolaâs price jump to C$620/tonne boosts working capital and EBITDA, temporarily inflating valuations. But buyers will normalize for price spikesâmargin resilience still matters most.
https://www.producer.com/good-bad-ugly/the-good-bad-ugly-1133/
Takeaway:
Prairie tech and agri-business owners: government and market tailwinds are opening windows for higher valuations. Are you ready to lead the valuation narrative, or will you let the market set it for you?
đ Cross-Border Connections
Hillenbrand being acquired by Lone Star Funds
U.S. private equity firm Lone Star Funds is acquiring Hillenbrand, a diversified industrial with plastics processing assets. This underscores ongoing U.S. buyout appetite for North American industrialsâespecially those with specialized tech. Canadian founders in industrial tech or manufacturing: U.S. acquirers are still shopping for scale and unique IP.
https://www.canplastics.com/plastics-processes/hillenbrand-being-acquired-by-lone-star-funds/1003467824/
Stellantisâs U.S. move spooks Canadian auto sector
Stellantis shifting production from Ontario to Illinois is a warning for Canadian auto suppliersâcustomer concentration and U.S. policy risk are now front-and-centre in buyer diligence.
https://thelogic.co/news/stellantis-moves-away-from-canada-and-shifts-to-us/
Key questions:
- Are you on the radar of cross-border buyers, and is your story ready for them?
- How exposed is your business to sector or customer concentration risk?
- Is your capital structure built for resilienceâor just survival?
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