Good morning. Today’s mix takes us from the IT help desk to industrial power and a Mexican mining property. The deal structures are just as varied.
MSP Corp gets a new sponsor
Alfar Capital, Walter Capital Partners and BDC Capital announced the sale of MSP Corp to New York-based Niobrara Capital on September 16. The Canadian managed IT and cybersecurity provider serves small and midsize businesses. Financial terms weren’t disclosed.
The sellers say MSP completed five acquisitions during their holding period. CEO Habib Malik is staying on under the new owner.
Our read: a sponsor handoff after a period of platform-building, with leadership continuity explicitly part of the story. The ownership changes; the CEO’s chair stays occupied.
Kanin puts waste heat to work
Kanin announced equity financing of up to approximately C$138 million on September 16, using the Canadian-dollar equivalent stated in its release. S2G Investments and Canada Growth Fund each committed up to approximately C$69 million.
The money is intended for waste-heat-to-power and other on-site power projects in Canadian and U.S. heavy industry. Kanin’s model covers financing, development, construction and operation of the power assets.
That’s the interesting business model: supplying the capital and operating capability around industrial power. The figures describe financing ceilings, not proof that the full amount has already been deployed.
Luca’s mining agreement comes in stages
Canadian miner Luca agreed on September 17 to buy Mexico’s El Barqueño property from an Agnico Eagle subsidiary, initially paying US$10 million in shares on closing.
Further consideration includes up to US$30 million tied to drilling and commercial-production milestones, up to US$20 million for production milestones, plus a royalty on specified areas.
Q4 closing is expected, subject to approvals and other conditions. Separately, exploration drilling isn’t currently permitted; a challenge to the planning regime is ongoing.
Completing the purchase and developing the property remain different hurdles.
Quick hit: Forthlane adds June
Forthlane announced on September 16 that it had acquired June Inc., an outsourced chief investment office advisory firm led by June Ntazinda. Terms weren’t disclosed.
Ntazinda will become vice-chair and continue advising clients. It’s a useful handover detail for a relationship-led business: the announcement spells out a continuing role for its principal, without telling us the economics of that arrangement.
Forthlane acquisition announcement
Selected announcements through September 17, 2026, at 6:32 a.m. Toronto time.
For information and education, not advice for a specific transaction or a prediction of value.
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