Our dynamic and entrepreneurial national private equity team advises on all aspects of our clients’ businesses.
Our clients include large and mid-market private equity firms, as well as pension funds, sovereign wealth funds, family offices and other institutional investors, based in Canada and elsewhere.
With offices across Canada’s major commercial centres and in New York and London, our national private equity team has substantial presence and capabilities to help our clients successfully complete transactions nationwide and across borders. Consisting of experts in various practice and industry specializations, our team’s diversity gives us the ability to provide seamless and comprehensive advice.
We take an active interest in our clients’ businesses so that we can deliver best-in-class legal advice through the practical lens of our clients’ business interests. As active participants in the private equity industry, we advise our clients on key trends and issues, mitigate risk and apply innovative strategies to acquisitions, dispositions, joint ventures and other transactions.
On Target: 2026 Private Equity Outlook 10th Edition
Our national Private Equity & Investments team’s full-service approach is tailored to deliver a seamless experience to our international clients with their inbound Canadian mandates, and to connect our Canadian clients to capital and growth opportunities in Canada and globally. Download our 2026 Outlook to learn more about the latest market trends and how we can help you achieve success this year.
We represent our private equity clients in all aspects of their business, including:
Buy-out and Other Strategic Investments
We advise buyers and sellers in leveraged buy-out, management buy-out, going-private, minority stake/growth capital and other transactions involving private equity investors seeking to acquire or invest in domestic and cross-border businesses.
Consortium and Joint Venture Investments
We structure and negotiate sophisticated transactions for consortium and joint venture investment vehicles and the constituents thereof, and work with clients to create bespoke solutions for complex mandates.
Auctions
Our experienced team members guide our clients at every stage of competitive bid processes and ensure that their interests drive negotiations. Our team engages with our clients on their deal strategies and regularly navigates securities, financing, regulatory and other transactional issues.
Liquidity Events
We are actively involved in identifying, structuring and implementing strategies to assist private equity investors disposing of investments, re-capitalizing end-of-term funds and selling general partner stakes. These strategies can include an initial public offering, sale to a strategic buyer or financial buyer, recapitalization, secondary sale and other transactions providing investors, portfolio companies or the general partners with liquidity.
Distressed Opportunities
Our team advises clients on national as well as global investments, including sourcing opportunities, clearing regulatory challenges, structuring loan-to-own transactions, receiverships and stalking-horse bids in both debt acquisitions and turnaround transactions.
Fund Formation and Fund Investment
We regularly establish private equity and other investment funds and advise on raising and deployment of capital, securities and fund regulatory compliance, governance, management compensation, carry structures, tax structuring, fund restructuring and securities regulatory misconduct and enforcement. We have deep knowledge of key commercial and tax provisions and legal issues relevant to all parties involved in fund formation and fund investment and governance activities. We also regularly act for Canadian and international institutional investors, sovereign wealth funds and many others, acting as anchor investors in the context of initial closing of funds and co-investments.
Senior, Mezzanine and Other Financing
Our team has extensive experience in advising on all aspects of senior, second lien and other leveraged debt financing in support of acquisitions, management buy-outs and other investments by buy-out investors. We have acted for a number of mezzanine funds and lenders in structuring a wide range of mezzanine financings and preferred equity deals, which include a variety of innovative equity participation structures.
Management Compensation and Incentive Plan Arrangements
Our private equity team includes best-in-class tax, executive compensation and employee benefits advice. We routinely work with our clients to structure equity rollovers and carry participation and other incentive plans that maximize retention rates following buyouts and enhance productivity.
The firm’s strengths in private equity span a number of industries, including, without limitation:
Agriculture
Automotive
Digital Infrastructure
Distressed Assets
Healthcare
Infrastructure
Life Sciences
Manufacturing
Metals and Mining
Oil & Gas
Power
Real Estate
Retail and Consumer Products
Technology
Transportation
We understand the business of the target companies of private equity firms as well as the industries and contexts in which they operate, including particular regulatory regimes, industry dynamics and capital structures. Because private equity firms require a fully equipped legal team, our Private Equity team provides a full-service approach, supported by project management lawyers and professionals who ensure that we deliver efficiently and effectively on the needs of our clients. We routinely work closely and in concert with leading law firms in the U.S. and overseas.
Members of our Private Equity team have advised the following clients on select transactions featured below, among many others:
in its acquisition of a controlling stake in True Religion
in its acquisition of Raymond O'Neill & Son Fisheries Ltd. and Suncoast Seafood Inc.
in its acquisition of Goody Products
in its joint venture with Apollo Global Management, Inc. and certain funds managed by its affiliates to accelerate the growth of Great Bay Renewables
in its acquisition of UrtheCast’s Geosys agriculture analytics business and its UrtheDaily satellite constellation project
in its acquisition of The Travel Corporation
in the acquisition of Convergint Technologies
the co-investors, in a group led by Blackstone, on a C$7 billion equity investment in Rogers Communications Inc.
together with Benettons, in its EUR€58 billion buyout offer for Atlantia
in its C$1.2 billion acquisition of LOGISTEC Corporation
and Ethos Capital, a U.S.based private equity investment firm, in acquiring a stake in BroadStreet Partners
equity financing of 5C, as part of 5C’s US$835 million equity and debt financing
in its acquisition of 53.12% stake in Neoen for £3.25 billion
and Evoque Data Center Solutions, in its US$1.3 billion acquisition of Cyxtera Technologies
and Ontario Teachers' Pension Plan in their acquisition of Compass Datacenters from RedBird Capital Partners and Azrieli Group
in the acquisition of HomeServe PLC for £4.08 billion
in connection with its takeover bid for Inter Pipeline Ltd. for approximately C$15 billion
and GIC in the US$8.4 billion acquisition of Genesee & Wyoming Inc.
in its C$4.3 billion acquisition of Enercare Inc.
and its portfolio company, Enercare Inc., in the acquisition all of the issued and outstanding units of HydroSolution L.P. and HydroSolution Ltd.
in connection with the US$6.3 billion take-private transaction of Nuvei Corporation by Advent International
in its agreement to support the sale of Héroux-Devtek Inc. to Platinum Equity for C$1.35 billion
in its majority stake in Trencap L.P, alongside the Fonds de solidarité FTQ
in its acquisition of a 50% interest in the A25 Concession from Transurban for C$355 million
in its acquisition of the majority interest in Énergir
in its C$475 million investment in CAE
in its agreement with Alstom to convert its investment in Bombardier Transportation into shares of Alstom, following the US$8.2 billion acquisition of Bombardier Transportation by Alstom
in its acquisition of 14 Taco Bell locations, through Redberry Group
with its acquisition of Burger King and Pizza Hut franchisee business from Redberry Group
in a US$170 million round of structured equity investment in Valsoft
in its US$1.2 billion acquisition of Pure Multi-Family REIT
in its acquisition of a majority stake of Scan Global Logistics
in its definitive agreement to acquire a majority interest in ExamWorks
in its joint acquisition agreement with CDPQ of a majority stake in BlueFocus International agencies
through its subsidiary, Asia Fund IV, in its acquisition of OANDA Global Corporation
in its acquisition of Diverso Energy
investment in Green Infrastructure Partners in connection with its C$4.25 billion recapitalization
in its sale of its portfolio company, Salford Group, a leading manufacturer of tillage and crop nutrition application equipment, to Linamar Corporation for C$260 million
in its acquisition of Insurity Inc.
in its C$225 million investment in CAE
in its C$237 million investment in WSP Global
in its acquisition of NewRocket
in its investment in Caylent
in its acquisition of a majority interest in Intelerad Holdings Inc.
in its US$2.3B sale of Intelerad to GE HealthCare
through its portfolio company, Skyservice Business Aviation, in their agreement to purchase interests in Fontainebleau Aviation's fixed-based operators in Miami Opa-Locka and Fort Lauderdale-Hollywood Airports
through its portfolio company, PRT Growing Services, in its s acquisition of International Forest Company
in its acquisition of Greenwood Mushrooms Development Corp.
in its acquisition of PRT Growing Services from TriWest Capital Partners
in its sale of two BC wind power facilities to Canadian Power Holdings Inc., a subsidiary of Hong Kong-based conglomerate CK Group
in its investment in Steel Reef Infrastructure Corp.
together with Partners Group and Kilmer Van Nostrand Co. Limited in their sale of Billy Bishop Toronto City Airport's passenger terminal to JP Morgan Asset Management
in its acquisition of AMPORTS, Inc. from Lincolnshire Management, Inc.
in its acquisition of Skyservice Investments, through the Instar Essential Infrastructure Fund
in its sale, together with TorQuest Partners and OPTrust, of VersaCold Logistics Services to Lineage Logistics LLC
in its acquisition with Kohlberg Partners of OB Hospitalist Group
in its acquisition of Kore Outdoor Inc.
in its acquisition of Algonquin Power & Utilities Corp’s Renewable Energy Business for US$2.5 billion
in its stalking horse definitive agreement to acquire substantially all the assets of Imerys Talc America Inc., Imerys Talc Vermont Inc. and Imerys Talc Canada Inc.
its acquisition of Reunion Neuroscience
in its sale of its investment in Plusgrade to General Atlantic
through its portfolio company, Spectrum Health Care, in its acquisition of Amika
in its acquisition of a substantial equity interest in Plusgrade
in its acquisition of a majority interest in Optiom
in its acquisition of the business of Spectrum Health Care
in the acquisition of Joseph Ribkoff Inc.
in its acquisition of Ratehub
in its acquisition of Cofamo
in its sale of Rise Baking to Platinum Equity and Butterfly Equity
through its portfolio company, Rise Baking, in its acquisition of Wonder Brands Inc.’s pies business
in its acquisition of Rise Baking
Teranet Inc., a subsidiary of OMERS, on the sale of Collateral Management Solutions to Trader Corporation
in acquiring a 5% indirect stake in Maple Leaf Sports & Entertainment for US$400 million through a 20% direct stake in Kilmer Sports Inc.
OMERS Infrastructure in its investment in Beanfield Technologies
in its acquisition of SureWerx from The Riverside Company
in its acquisition of Rochester Midland Canada Corporation
in its acquisition of Cisco’s Service Provider Video Software Solutions business
in GoodLeaf Farm’s C$150 million financing
in its investment in Ontario-based Riverside Natural Foods
as a continuing shareholder in the C$1.11 billion privatization of Hudson’s Bay Company
in its US$5.2 billion sale of a majority stake in GardaWorld to BC Partners
in its acquisition of Courchesne Larose Limitée
in its acquisition of Entegris Inc.'s Pipeline and Industrial Materials business which consists of Flowchem, Val-Tex, and Sealweld
in Vantage Data Centers' US$6.4 billion equity investment led by investment vehicles managed by DigitalBridge Group, Inc. and Silver Lake
in its US$900 million minority investment in Clio
in its acquisition of the World Seafood Center from Oslo Airport City for approximately NOK 1.3 billion
Slate NA Fund in its US$180 million strategic joint venture with Slate Grocery REIT (“SGR”) and US$425 million acquisition of 14 properties across seven states in the Southeastern U.S.
in the US$2.33 billion acquisition of the Commercial Real Estate Business (ACREG) of Annaly Capital Management, Inc.
in its minority equity investment from Goldman Sachs’ Petershill Group
Slate Canadian Real Estate Opportunity Fund in its financing and acquisition of a portfolio of properties from Cominar REIT for C$1.14 billion
in its joint investment with Fair Market Value Capital Partners to acquire a 28% interest in PSA Italy from PSA International, a leading global port operator
through its private equity fund TD Greystone Infrastructure Fund, in the acquisition of approximately 51% of the outstanding shares of Rabbalshede Kraft AB, a leading operator in renewable energy in the Nordic region
in its acquisition of JLIF Holdings (Project Service) US, Inc. and its 100% subsidiary Project Services LLC
in a consortium including IST3 Investment Foundation, in the C$1.7 billion agreement to acquire up to a 100% of Alberta PowerLine from Canadian Utilities Limited and Quanta Services Inc.
and its U.S. portfolio company, VITAC Corp., in the acquisition of SOVO Technologies
in its acquisition of CommonLook through T-Base Communications, its portfolio company
in its sale of Vetio Animal Health to Swedencare AB
in its acquisition of T-Base Communications Inc.
in its acquisition of NetCentric Technologies
in its acquisition of TetraGenx Animal Health
in its acquisition of The Coats Company from Vontier Company
in its acquisition of Vegpro International
in its acquisition of Risk Control Technologies, Inc., through its portfolio company, Duck Creek Technologies
in its US$350 million investment in Assent Compliance
in the acquisition of Athena Software and its product, Penelope
in its US$430 million sale of Upserve Inc. to Lightspeed POS Inc.
in its acquisition of Obero Technologies Inc. by Xactly Corp.
in its US$4.4 billion take-private acquisition of DH Corp
in its sale of its portfolio company, Athos Services Commémoratifs Inc., to TorQuest Partners
in its investment in Averna Technologies Inc.
in its acquisition of a significant stake in the share capital of Athos Services Commémoratifs Inc.
in its acquisition of Edge Imaging Inc.
in its acquisition of Plasticase Inc.
in its acquisition of Ergoresearch Ltd.
Select clients where we have advised with their fund formation and capital raising, and primary, secondary and co-investments:
Business Development Bank of Canada
Caisse de dépôt et placement du Québec (La Caisse)
CBRE Investment Management Infrastructure
Desjardins Group
Fiera Comox Partners
Fondaction
Forthlane Partners
GRI Capital
Industrielle Alliance Insurance and Financial Services Inc.
Instar Asset Management
Investment Management Corporation of Ontario (IMCO)
Investissement Québec
KPS Capital Partners
Nav Canada Pension Plan
Northleaf Capital Partners
Power Sustainable Lios
Slate Asset Management
SOFIAC
StepStone Group
Stonebridge Financial Corporation
TD Asset Management Inc.
Cross-Border M&A: Top 10 Considerations for U.S. Acquirers of Canadian Targets
Our market-leading M&A Group highlights the core issues, key considerations, pitfalls and opportunities for U.S. businesses and investors contemplating the acquisition of a Canadian target.
Speakers Patrick M. Shea, Matthew Cumming, Robert Anton, Jamie Becker, Stephanie Dewey, Heidi Gordon, Martha Harrison, Aathmika Kularatnam, Debbie Salzberger
Speakers Matthew Cumming, Maureen Gillis, Heidi Gordon, Martha Harrison, Mathieu Laflamme, Patrick McCay, Debbie Salzberger, Patrick M. Shea, Gianluca Mazzanti
Speakers Hugo Babos-Marchand, Jamie Becker, Louis-Nicolas Boulanger, Alexandra Carbone, Chrystelle Chevalier-Gagnon, Simon Douville, Sean D. Sadler, Debbie Salzberger, Jake Irwin
Mathieu Laflamme
Shevaun McGrath
Jonathan D. See