Canada Deal News - October 24, 2025
Deal flow is global, but the signals for Canadian founders are sharp: buyers are paying up for margin resilience, recurring revenue, and platforms that bolt on cleanly.
đ§ Deal Highlights Across Canada
$10M USD Series A: Cybrid (Toronto) lands BDC Capital to mainstream stablecoins, leveraging rare regulatory tailwindsâshows fintechs with credible backers and compliance momentum can still command eight-figure rounds. Read more
$53M: Felix Health (Toronto) raises growth capital as a profitable telehealth play, scaling ahead of generic weight loss drugsâprofitability plus a clear catalyst still drives up cheque size. Read more
$177M fine: FINTRAC slams Cryptomus for AML failuresâa regulatory hit this size can crater enterprise value overnight. Crypto founders: compliance is now a valuation line item, not a footnote. Read more
$2M: Albertaâs ConvergX snags federal funding for defence innovationâsmall cheque, but signals Ottawaâs appetite for sector-specific tech and future public-private deal flow. Read more
đ Ontario & QuĂ©bec Investments
Ontarioâs $75M ad blitz against U.S. auto tariffs backfiresâTrump kills trade talks, 25% tariffs stick for now. If youâre in manufacturing, auto, or supply chain, expect margin drag and buyer skepticism. Stress-test your EBITDA for tariff exposure and prep your narrative before buyers do. Read more Read more
Torontoâs âCurve Houseâ lists at $9M in Lawrence Parkâ7,500 sq. ft. of luxury, setting a fresh comp at the high end. Custom builds still draw buyers, but liquidity at this level is thin. Developers: benchmark, but watch for days-on-market and price cuts. Read more
Oakview Heights Apartments in North York sees new landlord pouring cash into repairs and capex, while tenants push back on rents. For multi-res landlords, deferred maintenance kills cash flow and buyer perceptionâdocument your capex story and defend your rent strategy. Read more
Bottom line:
This week is about risk management and narrative control. Whether youâre exposed to U.S. trade drama, benchmarking luxury real estate, or juggling tenant expectations, own your valuation story before someone else does.
đČ Western Canada Watch
No blockbuster M&A or disclosed price tags out West, but plenty of valuation signals:
Ksi Lisims LNG project faces a First Nations court challengeâno disclosed values, but legal risk can stall capital, delay cash flow, and chill buyer appetite for B.C. energy assets. Regulatory and Indigenous relations can swing your multiple overnight. Read more
B.C. industrial water rates remain Canadaâs lowest at $2.25/million litresâ70x less than Quebec. Margin boost for heavy industry, but with watershed funding down 80%, future hikes are a real risk. Model input costs with care. Read more
Amazonâs Delta warehouse faces first union bargaining. Unionization can pressure wages, squeeze EBITDA, and spook buyersâlogistics and e-comm operators, watch your cost base. Read more
TKMS floats Canadian submarine manufacturing, while Ottawa touts new nuclear investmentâno numbers yet, but signals a coming wave of public and private capital for infrastructure and advanced manufacturing. Position now for procurement cycles. Read more (subs) / Read more (investment)
Ownerâs Pulse:
No fresh deal comps, but margin resilience, regulatory risk, and public investment are all in play. Ask: Are you steering your risk narrative, or letting buyers set the tone?
đ Surf, Turf and Arctic
No headline deals, but a few operational shifts worth tracking:
Nova Scotia scraps the 80-20 rule for roadwork contracts, opening the door to more competitionâand thinner marginsâfor local trucking and logistics. If you rely on government contracts, model for lumpier revenue and buyer skepticism on customer mix. Read more
Sydney Credit Union breaks ground on a new facilityâforward signal for growth in deposits, lending, and maybe future M&A. For financial services and CRE owners, new builds can precede capital raises or strategic interest. Read more
Deer Lake restaurant pivots to ready-made meal boxes, chasing unmet demand. New revenue streams can boost margin resilience and attract buyers looking for bolt-on growth. Read more
Ownerâs Pulse:
Policy changes and strategic pivots shift your risk profile and growth story. If youâre reliant on government contracts or launching new lines, model out the impact on margin and customer mixâbuyers will.
đ Cross-Border Connections
New Brunswick warns of economic headwinds from US tariffs, with heavy reliance on American markets. East Coast operators: buyers will probe your US exposure and contingency plansâpolicy risk is now a line item. Read more
Carney pushes to double Canadaâs non-US exports by 2035âa nudge for founders to diversify customer bases. More global revenue means higher multiples and less buyer risk discount. Read more
Are you leading your valuation narrativeâor waiting for buyers to poke holes?