David Hogarth joins as Partner (Toronto and Vancouver)
Former Rhino Ventures partner and CIBC banker adds Western Canadian and technology and consumer coverage.
Canadian Investment Bank
Toronto advisory-only bank that is a leading independent advisor to Canadian special committees.
Blair Franklin is a 100% employee-owned Toronto investment bank founded in 2003 that only gives advice. It has no lending, trading, research or underwriting business. It is best known as an independent financial advisor and fairness-opinion provider to boards and special committees on large Canadian deals such as Sleep Country, Laurentian Bank and WPT Industrial REIT. It also runs mid-market sell-side and buy-side M&A, especially for wealth and asset managers, and advises governments and Crown corporations. The team is small: six partners (including the Vice Chair) plus an associate and two analysts in Toronto, with one partner also based in Vancouver.
0 open roles18 deals6 people26 sources
Independent advice and fairness opinions for boards and special committees on related-party, going-private, takeover and restructuring transactions, including formal MI 61-101 valuations and multi-class share structures.
Sell-side auctions, bilateral sales, divestitures, buy-side searches and management buyouts for private, sponsor-backed and public companies, with a particular niche selling wealth and asset managers.
Financial structuring, capital markets and business-plan advice for companies, governments and Crown corporations, such as federal loan guarantees for the Lower Churchill Project and the Gordie Howe International Bridge.
Advice to distressed companies and stakeholders on in- and out-of-court restructurings, plus expert valuation testimony in litigation.
| Toronto | ON | headquarters |
| Vancouver | BC | regional |
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From the inside
Reasons that work in interviews
4 reasons for Blair Franklin Capital Partners
Independent advisory with genuine restructuring and special situations capability, which is rare in Canada outside the banks.
Infrastructure and public sector mandates give the work a different character from corporate M&A.
Fully independent with no financing arm, so juniors see the advisory reasoning directly.
Small senior-heavy team: the ratio of partners to analysts is the opposite of a bank.
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Winter 2027
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Blair Franklin Capital Partners works as one generalist team: bankers staff deals across these sectors rather than joining a group, so there is no group to pick when you apply. Small advisory-only partnership run as one Toronto team (one partner also works from Vancouver); it presents three capabilities and nine sectors but no separate sector groups.
Financial Services and Asset ManagementReal Estate and REITsInfrastructure and Public SectorPower and UtilitiesMining, Metals and Natural ResourcesTechnology, Media and TelecommunicationsConsumer and RetailIndustrials, Transportation and DiversifiedHealthcare
Mergers & AcquisitionsBoard & Special Committee AdvisoryStrategic Advisory
Vice Chair
Partners
Joined in 2007 after a long career at BMO Capital Markets, where he was Vice Chairman and Head of Global Investment and Corporate Banking. He worked earlier at Citicorp Investment Bank and McLeod Young Weir. He is Lead Independent Director of Altius Minerals and a director of Toromont Industries.
Managing Partner
Partners
Founding partner who has led the firm since 2003. He previously worked in mining investment banking at ScotiaMcLeod (1989–1997), was a Managing Director at CIBC Wood Gundy (1997–1999), and was a Managing Director in Scotia Capital's M&A group (1999–2002). He holds a University of Toronto MBA and an engineering degree from the Royal Military College.
Partner
Partners
Has been with the firm since its start in 2003. He began in M&A in 1986 at Lancaster Financial and became a partner there in 1990. After TD Securities acquired Lancaster in 1995, he became Managing Director and Head of M&A at TD. He holds a University of Toronto BA and a York MBA.
Partner
Partners
Joined in 2013 from Nomura Securities Canada's global investment banking division and has worked on many of the firm's most complex mandates, including valuation and related-party work. He holds an HBA from the Ivey Business School.
Partner
Partners
Joined in 2021 after 12 years at CIBC Capital Markets, where he was a Director in M&A and then an Executive Director in the global mining group. He also spent three years in Beijing covering Asian clients. He holds a B.Comm (Honours) from UBC.
Partner
Partners (Toronto and Vancouver)
Joined in 2026 and works from both Toronto and Vancouver. He was previously a Partner at Vancouver venture capital firm Rhino Ventures and, before that, an Executive Director at CIBC Capital Markets covering technology and consumer in Toronto and Vancouver. He holds a McGill MBA and a McMaster B.Comm.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Sep 9, 2026
Kharrouba Copper Company
Independent fairness opinion to the KCC board · Mining
Buyer Culico Metals Inc.
Culico Metals and Kharrouba Copper agreed to merge to create a Moroccan copper explorer, with a concurrent strategic private placement.
Dec 2, 2025
Laurentian Bank of Canada
Independent financial advisor to the Special Committee (fairness opinion) · Banking
Buyer Fairstone Bank (whole bank); National Bank of Canada (Retail & SME portfolios)
Laurentian Bank agreed to be acquired by Fairstone Bank, with its retail and SME portfolios going to National Bank. Blair Franklin advised the special committee and gave a fairness opinion; the $1.9 billion value is as stated on Blair Franklin's tombstone.
May 20, 2025
Ceres Global Ag Corp.
Independent financial advisor and fairness opinion to the board · Agriculture - Grain Handling
Buyer Bartlett Grain Company
Bartlett agreed to acquire Ceres Global Ag for US$4.50 per share in cash, a premium of about 153% to the unaffected price.
Mar 27, 2025
Mitsubishi Materials' minority interest in the Copper Mountain Mine (B.C.)
Financial advisor to Seller (Mitsubishi Materials) · Mining
Buyer Hudbay Minerals · Seller Mitsubishi Materials Corporation
Hudbay agreed to buy Mitsubishi Materials' minority stake and take 100% ownership of the Copper Mountain mine in British Columbia. Blair Franklin advised the seller; the US$148 million value is from Blair Franklin's tombstone.
Jul 22, 2024
Sleep Country Canada
Financial advisor to the Special Committee (fixed-fee fairness opinion) · Consumer & Retail
Buyer Fairfax Financial Holdings
Fairfax agreed to buy Sleep Country for $35 per share in cash (about $1.7 billion). Blair Franklin advised the special committee and gave a fixed-fee fairness opinion alongside the company's main advisor.
Jul 22, 2024
Sleep Country Canada Holdings Inc.
Financial advisor to the special committee; fixed-fee fairness opinion · Retail
Buyer Fairfax Financial Holdings Limited
Fairfax agreed to acquire Sleep Country for C$35.00 per share in cash via plan of arrangement, a total enterprise value of about C$1.7 billion.
May 9, 2022
Points.com Inc.
Fairness opinion to the board · Technology (Loyalty)
Buyer Plusgrade Parent L.P. (backed by Novacap and CDPQ)
Plusgrade agreed to acquire Points for US$25.00 per share in cash, valuing Points at about US$385 million on an equity basis.
Apr 11, 2022
Shopify Inc.
Financial advisor to the special committee · Technology
Shopify proposed a new founder share to preserve Tobi Lütke's voting power, reviewed by a special committee of independent directors with its own advisors.
Jan 11, 2022
Northwood Family Office Ltd.
Financial advisor to Northwood · Wealth Management
Buyer CI Financial Corp.
CI Financial agreed to acquire Northwood, a Toronto multi-family office managing about $2.2 billion of investment assets.
Aug 9, 2021
WPT Industrial Real Estate Investment Trust
Fairness opinion to the WPT special committee · Real Estate (Industrial REIT)
Buyer Blackstone Real Estate Income Trust
BREIT agreed to acquire WPT Industrial REIT for US$22.00 per unit in cash, a transaction valued at US$3.1 billion including assumed debt.
Mar 25, 2021
US$390 million grocery-anchored portfolio
Fairness opinion to the special committee · Real Estate (Retail REIT)
Buyer Slate Grocery REIT
Slate Grocery REIT agreed to acquire a US$390 million grocery-anchored portfolio and launched a subscription receipt offering of about C$133 million to fund it.
Jan 14, 2021
Atlantic Power Corporation
Financial advisor and fairness opinions · Power Generation
Buyer I Squared Capital
I Squared Capital agreed to acquire Atlantic Power for US$3.03 per share in cash, a total enterprise value of about US$961 million including preferred shares and notes of its subsidiaries.
Jan 5, 2021
TMAC Resources Inc.
Financial advisor to the TMAC special committee · Mining (Gold)
Buyer Agnico Eagle Mines Limited
Agnico Eagle agreed to acquire TMAC for C$2.20 per share in cash (total equity value about C$286.6 million), adding the Hope Bay gold project in Nunavut.
May 26, 2020
Torstar Corporation
Financial advisor to Torstar · Media
Buyer NordStar Capital LP
NordStar Capital, owned by the Bitove and Rivett families, agreed to take Torstar private for $0.63 per share in cash, later raised to $0.74 per share.
Apr 1, 2019
Minera Exar (Cauchari-Olaroz project)
Valuator and independent financial advisor to the special committee; fairness opinion · Mining (Lithium)
Buyer Ganfeng Lithium Co., Ltd.
Ganfeng agreed to a US$160 million project investment for newly issued shares of Minera Exar, the holder of Lithium Americas' Cauchari-Olaroz project.
Sep 8, 2017
BBS Securities Inc.
Exclusive financial advisor to BBS · Financial Services (Brokerage Technology)
Buyer CI Financial Corp.
CI Financial agreed to acquire BBS Securities, a brokerage and financial technology services provider.
Jan 13, 2016
Shaw Media Inc.
Financial advisor and fairness opinion to the Shaw special committee · Media & Entertainment
Buyer Corus Entertainment Inc. · Seller Shaw Communications Inc.
Shaw agreed to sell Shaw Media to related company Corus for $2.65 billion (about $1.85 billion cash plus Corus non-voting shares), with independent fairness opinions for both boards.
Dec 22, 2009
Algonquin Power & Utilities Corp. (management internalization)
Financial advisor to the board; fairness opinion · Utilities
Algonquin agreed to internalize its management for about C$4.0 million in Algonquin shares.
Former Rhino Ventures partner and CIBC banker adds Western Canadian and technology and consumer coverage.
Fairness opinion on the sale of Laurentian Bank to Fairstone Bank.
US$148 million sale of a minority mine interest to Hudbay.
Fairness opinion on Fairfax's $1.7 billion takeover.
Independent, advisory-only firm established in Toronto, with David Pyper as founding partner and Joel Kazman joining at the outset.
No sourced people moves for this firm. BSO publishes a fact only once it can attribute it to a named source, so these stay off the page rather than being filled in from inference. If you know something published that belongs here, it is the fastest way to get it added.
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Culico Metals Inc. via CNW · Sep 9, 2026 · newswire.ca
Mergers Alliance · Apr 8, 2026 · mergers-alliance.com
Laurentian Bank of Canada · Dec 2, 2025 · news.laurentianbank.ca
Ceres Global Ag Corp. via CNW · May 20, 2025 · newswire.ca
Hudbay Minerals · Mar 27, 2025 · hudbayminerals.com
Sleep Country Canada Holdings Inc. via CNW · Jul 22, 2024 · newswire.ca
Points.com Inc. (SEC 6-K) · May 9, 2022 · sec.gov
Shopify Inc. (SEC 6-K) · Apr 11, 2022 · sec.gov
CI Financial via Business Wire (SEC 6-K) · Jan 11, 2022 · sec.gov
WPT Industrial REIT via GlobeNewswire · Aug 9, 2021 · globenewswire.com
Slate Grocery REIT via GlobeNewswire · Mar 25, 2021 · globenewswire.com
Atlantic Power Corporation (Form 8-K, SEC EDGAR) · Jan 14, 2021 · sec.gov
Agnico Eagle Mines Limited via CNW · Jan 5, 2021 · newswire.ca
Torstar Corporation via CNW · Aug 5, 2020 · newswire.ca
Torstar Corporation via CNW · Jul 11, 2020 · newswire.ca
Torstar Corporation via CNW · May 26, 2020 · newswire.ca
Lithium Americas Corp. (Form 6-K, Exhibit 99.1) · Apr 1, 2019 · sec.gov
CI Financial Corp. via CNW · Sep 8, 2017 · newswire.ca
Shaw Communications Inc. via SEC EDGAR (6-K Ex. 99) · Jan 13, 2016 · sec.gov
Algonquin Power & Utilities Corp. via SEC (Form 6-K) · Jan 5, 2010 · sec.gov
Blair Franklin Capital Partners · Date unavailable · blairfranklin.com
Blair Franklin Capital Partners · Date unavailable · blairfranklin.com
Blair Franklin Capital Partners · Date unavailable · blairfranklin.com
Blair Franklin Capital Partners · Date unavailable · blairfranklin.com
Retail Insider · Jul 22, 2024 · retail-insider.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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Summer Analyst · Canada
The independents recruit on their own campus cycles rather than a common one, and the spread is wide: some post in the autumn for the summer after next, while others close as late as the end of January. Postings often sit on school career boards rather than a public careers page, so check both. BSO has not confirmed a timetable for Blair Franklin Capital Partners on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
Co-op / Off-cycle intern · Canada
Fall and winter terms are a real route in at this size — the classes are smaller than the summer one and the competition is thinner, and a good off-cycle term usually converts. BSO has not confirmed a timetable for Blair Franklin Capital Partners on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
Typical background
GuidanceOne prior internship: a small PE fund, a small investment bank, or corporate development.
Global bulge brackets and elite boutiques
Global banks
Big Six banks
Rising boutiques and mid-market independents
Blair Franklin Capital Partners is hereBoutiques, small-cap dealers and deal advisory
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