Jefferies

Bruce RothneyTeam build

CEO, Jefferies Canada

Barclays Canada → Jefferies (Canada)

Rothney left Barclays to build Jefferies' full-service Canadian business and was still quoted as CEO of Jefferies Canada in April 2024. No source from the past 12 months confirms he still holds the role.

Windsor Life Re (new reinsurance partnership)

Financial advisor to Sun Life · Insurance & Asset Management

Buyer Sun Life Financial Inc. and Wilton Re

Sun Life and Wilton Re agreed to set up Windsor Life Re, a reinsurance vehicle expected to deploy about US$900 million of capital, with each partner contributing roughly one-third of the equity and SLC Management acting as lead asset manager. It will start by reinsuring an in-force block of about US$1.7 billion from Wilton Re.

Conduent tolling solutions business

Financial advisor to Conduent · Intelligent Transportation Systems

Buyer Quarterhill Inc. · Seller Conduent Business Services, LLC

Quarterhill agreed to acquire substantially all assets of Conduent's tolling business for $70 million in cash plus Quarterhill shares, roughly tripling its tolling revenue.

VAC (Vacuumschmelze)

Exclusive financial advisor to VAC · Mining / Critical Minerals

Buyer Energy Fuels Inc. · Seller Ara Partners

Energy Fuels agreed to acquire permanent magnet maker VAC from Ara Partners for a US$1.9 billion equity value, building a mine-to-magnet rare earth platform.

Apotex Health Corp. initial public offering

Joint Bookrunner · Healthcare / Pharmaceuticals

Seller Apotex Health Corp. and selling shareholders

Apotex priced an upsized IPO of 54.2 million common shares at C$24.00 for gross proceeds of about C$1.3 billion (treasury and secondary). RBC, TD and Scotiabank led the syndicate; BMO Capital Markets and Jefferies Securities, Inc. were joint bookrunners.

Giovanni Bozzetto S.p.A.

Exclusive financial advisor to Aimia · Specialty Chemicals

Buyer One Equity Partners · Seller Aimia Inc.

Aimia agreed to sell its interest in specialty chemicals business Bozzetto to One Equity Partners, expecting net proceeds of about C$265–271 million.

The GoodLife Group

Financial advisor to Apollo · Fitness / Consumer

Buyer Apollo-managed funds

GoodLife, Canada's largest fitness company, secured a strategic minority investment led by Apollo-managed funds.

Invesco Canada fund management agreements

Financial advisor to Buyer · Asset Management

Buyer CI Global Asset Management · Seller Invesco Ltd.

CI GAM, CI Financial's Canadian asset manager, took over management of Invesco Canada's mutual funds and ETFs (about C$27 billion of assets at closing), with Invesco staying on as sub-advisor to 61 funds. The price was not disclosed. Jefferies Securities Inc. advised CI GAM; Morgan Stanley advised Invesco.

TELUS Health (strategic partnership / monetisation)

Financial advisor to Seller (with TD Securities) · Telecommunications / Health Technology

Seller TELUS Corporation

TELUS engaged TD Securities and Jefferies Securities, Inc. to advise on the strategy and timing for monetising TELUS Health, including bringing in a strategic partner. The release announced the mandate, not a completed transaction.

Corus Entertainment Inc.

Financial advisor to Corus · Media & Entertainment

Corus proposed a CBCA plan of arrangement recapitalization that cuts third-party debt and liabilities by over $500 million, including exchanging $500 million of senior notes for equity.

Integral Ad Science Holding Corp.

Exclusive financial advisor to IAS · Advertising Technology

Buyer Novacap

Montreal private equity firm Novacap agreed to acquire IAS for US$10.30 per share in cash, valuing it at about US$1.9 billion.

TELUS Digital Experience (TELUS International (Cda) Inc.)

Financial advisor to TELUS · Technology Services

Buyer TELUS Corporation

TELUS agreed to acquire the shares of TELUS Digital it did not already own for US$4.50 per share, aggregate consideration of US$539 million (total transaction value about US$2.9 billion).

Plains' Canadian NGL business

Financial advisor to Keyera · Energy - Midstream

Buyer Keyera Corp. · Seller Plains All American

Keyera agreed to acquire Plains' Canadian natural gas liquids business for $5.15 billion, partly funded by a $1.8 billion bought-deal offering of subscription receipts.

Canadian operations of Travelers (personal and most commercial insurance business of Travelers Canada)

Financial advisor to Travelers · Insurance - P&C

Buyer Definity Financial Corporation · Seller The Travelers Companies, Inc.

Definity agreed to acquire Travelers' Canadian personal and most commercial insurance operations for $3.3 billion (US$2.4 billion), with a concurrent bought-deal private placement of common shares.

Strathcona Resources' Kakwa Montney asset

Financial advisor to Strathcona on the Kakwa sale · Energy - Oil & Gas E&P

Buyer ARC Resources Ltd. · Seller Strathcona Resources Ltd.

Strathcona agreed to sell its Kakwa asset to ARC Resources for about $1.695 billion in total value, one of three sales disposing of its Montney business.

CanPrev

Financial advisor to Apotex · Healthcare - Natural Health Products

Buyer Apotex Inc.

Apotex acquired natural health products maker CanPrev, entering the Canadian health and wellness sector.

CI Financial Corp.

Lead financial advisor to Mubadala Capital · Asset & Wealth Management

Buyer Mubadala Capital

Mubadala Capital agreed to take CI Financial private for C$32.00 per share in cash, an equity value of about C$4.7 billion and enterprise value of about C$12.1 billion.

New Mexico Gas Company

Exclusive financial advisor to Bernhard Capital · Power & Utilities (gas distribution)

Buyer Bernhard Capital Partners · Seller Emera Inc.

Emera agreed to sell New Mexico Gas Company to Bernhard Capital Partners for an aggregate transaction value of US$1.252 billion, including about US$500 million of assumed debt.

Hamilton Thorne Ltd.

Exclusive financial advisor to Astorg · Healthcare (life-science tools)

Buyer Astorg

European private equity firm Astorg agreed to acquire Hamilton Thorne, a maker of assisted-reproduction instruments and consumables, for C$2.25 per share in cash (about C$388 million enterprise value).

Canadian Western Bank

Fairness opinion to the National Bank board · Banking

Buyer National Bank of Canada

National Bank agreed to acquire CWB in an all-share exchange valuing CWB at about $5.0 billion, with a concurrent $1 billion subscription receipt financing (a $500 million bought deal plus a private placement to CDPQ).

Carrols Restaurant Group, Inc.

Financial advisor to the special committee of Carrols · Restaurants

Buyer Restaurant Brands International Inc.

RBI agreed to buy the Carrols shares it did not already own for US$9.55 per share in cash, an aggregate enterprise value of about US$1.0 billion, acquiring the operator of 1,022 Burger King restaurants in 23 states.

Small Pharma Inc.

Exclusive financial advisor to Small Pharma · Healthcare / Biotech

Buyer Cybin Inc.

Cybin agreed to acquire psychedelic drug developer Small Pharma in an all-share deal at 0.2409 Cybin shares per Small Pharma share.

Euro Auctions group

Financial advisor to the vendors · Industrial Services (Equipment Auctions)

Buyer Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. agreed to acquire UK plant and machinery auctioneer Euro Auctions for an enterprise value of £775 million (about US$1.08 billion).

Algoma Steel

Financial advisor to Algoma · Steel

Buyer Legato Merger Corp.

Algoma Steel agreed to go public through an all-stock merger with SPAC Legato, valuing the combined company at an enterprise value of about $1.7 billion including contingent consideration.

dentalcorp Holdings Ltd.

Joint active bookrunner · Health Care (Dental Services)

dentalcorp priced its IPO of 50 million subordinate voting shares at $14.00 (about $700 million), with concurrent private placements bringing gross proceeds to about $950 million.

Aphria Inc.

Financial advisor to Aphria; fairness opinion to the Aphria board · Cannabis

Buyer Tilray, Inc.

Aphria and Tilray agreed to combine in an all-share transaction, structured as Tilray acquiring all Aphria shares, creating the largest global cannabis company by pro forma revenue, with an implied pro forma equity value of about C$5.0 billion (US$3.9 billion).