The fourth annual Canadian Dealmakers gala was held yesterday evening, in celebration of the best merger and acquisition (M&A) deals of 2010. Strategists, corporate executives, investment bankers, private equity firms and lawyers in advisory and underwriting roles in M&A were honoured. Founded by Deloitte, Lexpert®, The Globe and Mail and Thomson Reuters, the awards recognized Canadian companies that have created value through M&A transactions.
“We have seen a significant increase in global M&A activity in 2010 and, more frequently, Canadian companies are taking the leading role with high-valued domestic, as well as global, mergers and acquisitions, further enhancing Canada’s role in the global economy. This event recognizes the best transactions of 2010 that positively influenced the future of Canadian business,” says Charles Knight, partner and national M&A services leader, Deloitte. “A key element of the success relates to companies completing the most strategically relevant deal for their sector, and creating long-term shareholder value.”
The awards honour Canadian companies and individuals whose transactions have significantly impacted their industry through innovation and growth, establishment of best practices, and enhancement of customer needs and products, leading to the creation of value. The judging panel considered quantitative and qualitative factors, including, financial soundness, improved industry ranking, strength of deal thesis, complexity of the deal, and pre-merger and post-merger integration activities.
The Canadian Dealmakers of 2010 award winners are:
| 2010 Award category | Recipient | Acquisition | Deal value ($mm) |
| Mining industry award | Kinross Gold Corp. | Red Back Mining Inc. | 7,100.00 U.S. |
| Energy industry award | Daylight Energy Ltd. | West Energy Ltd. | 570.00 |
| Media & telecommunications industry award |
Shaw Communications Inc. | Acquisition of all of the broadcasting assets of Canwest Global Communications Corp., including the acquisition of 100% of the over-the-air and specialty television businesses of Canwest, including all of Canwest’s equity interests in CW Investments Co. |
2,000.00 |
| Information technology industry award | CGI Group Inc. | Stanley Inc. | 1,063.81 U.S. |
| Foreign outbound award – United States | CGI Group Inc. | Stanley Inc. | 1,063.81 U.S. |
| Industrials industry award | IESI-BFC Ltd. | Waste Services, Inc. | 767.74 |
| Deal team of the year Award | IESI-BFC Ltd. | Multiple acquisitions | 767.74 |
| Health care industry award | Valeant Pharmaceuticals International, Inc. (formerly Biovail Corp.) | Valeant Pharmaceuticals International | 3,831.36 U.S. |
| IPO of the year award | MEG Energy Corp. | N/A | 700.00 |
| Value creation award | Eldorado Gold Corp. | Multiple acquisitions | N/A |
| Private equity award | Onex Corp. Canada Pension Plan Investment Board (CPPIB) |
Tomkins plc | 5,000.00 U.S. |
| Private equity mid-market award | OMERS Private Equity Société générale de financement du Québec (SGF) |
Logibec Groupe | 263.50 |
| Innovation award – Cross-border partnership | China Investment Corp. Penn West Exploration |
Penn West Exploration (formerly the Penn West Energy Trust) | 817.00 |
| Foreign outbound award – Global | Agrium Inc. | AWB Limited | 1,236.00 AUD |
As the only program of its kind in Canada, Canadian Dealmakers attracts an impressive array of judges. A committee of pre-eminent business leaders evaluate to what extent each candidate meets or exceeds the award criteria. The 2010 Canadian Dealmakers adjudication panel members are:
- Al Bellstedt, board director, former general counsel, TransCanada Corp.
- Brent Belzberg, senior managing partner, TorQuest Partners Inc.
- Elena Cherney, editor, Report on Business, The Globe and Mail
- Purdy Crawford, C.C., counsel, Osler, Hoskin & Harcourt LLP, former CEO and non-executive chairman, Imasco Limited and CT Financial Services Inc.
- George F.J. Gosbee, president and CEO, AltaCorp Capital Inc.
- John K. F. Irving, president, Commercial Properties Limited
- John McArthur, dean emeritus, Harvard Business School
- Eileen Mercier, chair, Ontario Teachers’ Pension Plan
- Gregory J. Smith, managing partner, Brookfield Financial, and president, Canada’s Venture Capital & Private Equity Association
- Scott Thomson, executive vice-president, Finance, and CFO, Talisman Energy Inc.
- Frank Vettese, global managing partner, Financial Advisory, Deloitte
“We give special consideration to the innovation and perseverance needed by companies and their advisors to execute and deliver shareholder value,” adds Knight. “Acquisitions can create unique risks and exposures, and Canadian companies are continually demonstrating that they are capable of managing this risk, using M&A to grow shareholder value as well as to defend and strengthen their competitive positioning.” Knight also notes that “increasingly, M&A needs to be a core competency for the long-term survival of Canada’s businesses.”
Over the past four years, the Canadian Dealmakers gala has brought together close to 2,000 leading investment bankers, corporate executives and lawyers to recognize companies whose transactions have significantly impacted their industry.
In addition to paying tribute to the best M&A’s of the year, Canadian Dealmakers is dedicated to the success of future advisors by providing youth financial literacy, work readiness and entrepreneurship experiences. Over the last three years, Canadian Dealmakers has contributed over $100,000 to support Canada’s future professionals in this area.
Last night, the Canadian Dealmakers awards ceremony also featured remarks by Wayne R. Brownlee, executive vice-president and CFO of PotashCorp. The gala was attended by approximately 500 corporate executives, legal professionals and investment bankers. The net proceeds raised from the gala were donated to Junior Achievement of Canada.
