Riley Webb joins as Principal
Former Clairvest investment professional joins the deal team.
Private Equity
Toronto small-cap private equity firm that grew out of one of Canada's first search funds and takes a hands-on, operator-style approach.
CPS Capital is a Toronto private equity firm founded in 2013, when its founders bought Windley Ely through what the firm calls one of Canada's first search funds and ran it as co-CEOs. It now makes majority investments in small, often founder-owned businesses that are below the size most PE firms target, across a wide range of industries from home services to healthcare software, and reports C$280 million of committed capital and 45 businesses acquired. Its best-known recent deal is the 2024 take-private of TSXV-listed CloudMD (now Kii Health), funded from CPS Partners Fund IV and Fund V. For recruits, it is a small single-office team (11 people listed, including two analysts) that emphasizes working alongside portfolio management rather than just from the boardroom.
5 interview reports0 open roles2 deals5 people32 sources
Majority investments in small and medium-sized, often founder-owned businesses with stable track records, typically regional niche leaders that CPS aims to grow to national or multinational scale.
Platforms formed to roll up fragmented niches, such as Royal House Partners (HVAC and plumbing in the US Southeast, formed 2021), Tree Care Partners (tree care in the US and Canada, formed 2022) and Actual Pet Foods (raw and unprocessed pet food brands, formed 2025).
Includes the 2024 go-private of TSXV-listed CloudMD, which was facing liquidity pressure, now operating as Kii Health.
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Reasons that work in interviews
1 reasons for CPS Capital
Lower mid-market Canadian investments at a size where a junior is on everything.
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How juniors get in
Hires juniors with a few years of transaction advisory, consulting or deal experience, often at the Analyst title before promotion to Associate; no evidence of hiring straight out of school.
Green: evidence it does. Struck through: evidence it doesn’t. Dashed: no public evidence either way.
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North American platform acquiring and scaling brands in the unprocessed and raw pet food market.
Pet foodSince 2025
Healthcare services provider (formerly CloudMD) offering independent medical exams, mental health, disability management and occupational health programs.
Healthcare servicesSince 2024
Buy-and-build network of tree care and plant healthcare businesses serving residential and commercial customers in the US and Canada.
Tree care servicesSince 2022
Technology development firm delivering complex software and hardware development, with a focus on IoT and data processing.
Software development servicesSince 2021
Manufacturer of technology-enabled health kiosks, including blood pressure stations, and connected patient engagement solutions.
Digital health technologySince 2021
Buy-and-build network of essential home services businesses, primarily HVAC and plumbing, in the southeastern United States.
Home servicesSince 2021
Provides unified communications services to SMBs and secure IP-based document transmission to enterprises in regulated industries.
Cloud communicationsSince 2020
Third-party face-to-face fundraising partner for charities, foundations and non-profits across North America.
Nonprofit fundraising services
Partner
Investment Team
Co-founded CPS in 2013 and co-leads the firm; leads sourcing and transactions and coaches portfolio teams on ERP, data, analytics and IT transformation. Previously at McKinsey & Company and the founding CFO/COO of Auxly Cannabis Group. Ivey MBA and UBC computer engineering degree.
Partner
Investment Team
Co-founded CPS in 2013 and co-leads the firm, focusing on sourcing, corporate development, capital optimization and sales improvement; was the CPS partner quoted on the 2024 CloudMD take-private. Previously in TD's M&A group. Ivey MBA and University of Waterloo BSc.
Partner
Investment Team
Partner who co-leads CPS with the two co-founders, covering sourcing, transactions and value creation, and leading fundraising and investor relations. Previously a partner at CGOV Asset Management (later part of Fiera Capital) and a corporate lawyer. Ivey MBA and University of Toronto JD.
Principal
Investment Team
Joined CPS in 2024 as a Vice President and is now a Principal, focused on Kii Health (formerly CloudMD) and Actual Pet Foods. Spent seven years on Imperial Capital's deal team, after CIBC Capital Markets investment banking and Deloitte, where he qualified as a Chartered Accountant. UBC BA.
Principal
Investment Team
Joined CPS as a Principal in 2026 to help originate and execute platform and add-on deals and support portfolio value creation. Previously spent seven years on Clairvest's investment team and three years in TD Securities investment banking. Queen's Commerce graduate and CFA charterholder.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
May 15, 2024
CloudMD Software & Services Inc. (now Kii Health)
Acquirer · Healthcare services and digital health
Buyer CPS Capital (through an affiliate; CPS Partners Fund IV and Fund V) · Seller Public shareholders
Go-private of TSXV-listed CloudMD at C$0.04 per share (about C$12.2 million of equity) by court-approved plan of arrangement; the company had flagged going-concern liquidity risk. Shares were delisted from the TSX Venture Exchange after 10 July 2024, and the business now operates as Kii Health.
May 15, 2024
CloudMD Software & Services Inc.
Acquirer · Digital Health
Buyer CPS Capital
CPS Capital agreed to take CloudMD private for C$0.04 per share by plan of arrangement.
Former Clairvest investment professional joins the deal team.
New North American platform to acquire and scale raw and unprocessed pet food brands.
Completion of the plan of arrangement and expected TSXV delisting.
Coverage of the arrangement agreement: C$0.04 per share, funded from CPS Partners Fund IV and Fund V, with Mike Arblaster quoted for CPS.
First platform realized; KGK Science, acquired in 2017, is later sold to a strategic buyer in 2019.
The founders acquire Windley Ely, a workers' compensation claims management business, and run it as co-CEOs.
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CloudMD / CPS Capital (via Nasdaq) · May 15, 2024 · nasdaq.com
CloudMD Software & Services Inc. via GlobeNewswire · May 15, 2024 · globenewswire.com
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T-Net (BC Technology) · Jul 11, 2024 · bctechnology.com
T-Net (BC Technology) · May 16, 2024 · bctechnology.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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Summer Analyst · Canada
At this size the intake is one or two people and rarely posted on a public careers page: it runs through campus contacts, referrals and direct approaches. Treat the absence of a posting as a reason to reach out rather than as evidence there is no seat. BSO has not confirmed a timetable for CPS Capital 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 boutique bank, a small fund, transaction services, or a pension co-op.
Large-cap platforms and global multi-strategy funds
Upper mid-market PE, infrastructure, the Maple 8 and large managers
Mid-market PE, mid-sized managers, domestic hedge funds and smaller pensions
CPS Capital is hereSmall-cap private equity, boutique managers and early-stage VC
Where people go next
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