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Patrick Welsh

Partner at Stikeman Elliott

Lawyer

Toronto

Deal Bio

Total Deals51

Valued Deals33

Total Value£ 72.28 B

Avg. Deal Size£ 2.19 B

Market Context

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30 Jan 2018|United States|Financial Data and Systems

Target: REFINITIV HOLDINGS INC

Bidder: BLACKSTONE GROUP INC

31 Service Providers

18 Bidder | 13 Vendor

102 Dealmakers

62 Bidder | 40 Vendor

£ 12.06 B

Value

23 Feb 2021|Canada|Cosmetics

Target: DECIEM BEAUTY GROUP INC

Bidder: ESTEE LAUDER COMPANIES INC

11 Service Providers

6 Target | 5 Bidder

56 Dealmakers

14 Target | 42 Bidder

£ 712 M

Value

08 Dec 2021|Canada|Gold Mining

Target: GREAT BEAR RESOURCES

Bidder: KINROSS GOLD CORPORATION

10 Service Providers

6 Target | 4 Bidder

20 Dealmakers

1 Target | 19 Bidder

£ 1.09 B

Value

15 Mar 2022|Canada|Electronic Components and Equipment

Target: MATROX IMAGING

Bidder: ZEBRA TECHNOLOGIES CORPORATION

7 Service Providers

3 Bidder | 4 Vendor

32 Dealmakers

16 Bidder | 16 Vendor

£ 671 M

Value

07 Jun 2022|Canada|Production Technology Equipment

Target: HYDROLICO INTERNATIONAL

Bidder: BAILEY INTERNATIONAL

3 Service Providers

1 Target | 2 Bidder

12 Dealmakers

1 Target | 11 Bidder

n/a

Value

28 Feb 2023|United States|Integrated Oil and Gas

Target: RANGER OIL CORPORATION

Bidder: BAYTEX ENERGY

8 Service Providers

6 Target | 2 Bidder

60 Dealmakers

23 Target | 37 Bidder

£ 1.78 B

Value

02 Mar 2023|Canada|Semiconductors

Target: GAN SYSTEMS

Bidder: INFINEON TECHNOLOGIES AG

5 Service Providers

2 Target | 3 Bidder

43 Dealmakers

2 Target | 41 Bidder

£ 689 M

Value

02 May 2023|Canada|Computer Hardware

Target: COOLIT SYSTEMS

Bidder: KKR & CO

7 Service Providers

3 Target | 4 Bidder

51 Dealmakers

3 Target | 48 Bidder

n/a

Value

22 May 2023|Canada|Telecommunications Equipment

Target: IRIDIAN SPECTRAL TECHNOLOGIES

Bidder: IDEX CORPORATION

3 Service Providers

1 Target | 2 Bidder

29 Dealmakers

1 Target | 28 Bidder

n/a

Value

26 Dec 2023|United States|General Mining

Target: BOART LONGYEAR GROUP

Bidder: AMERICAN INDUSTRIAL PARTNERS

10 Service Providers

4 Target | 6 Bidder

59 Dealmakers

12 Target | 47 Bidder

£ 291 M

Value

15 Jan 2024|Canada|Private Equity

Target: KENSINGTON CAPITAL PARTNERS

Bidder: AGF MANAGEMENT LIMITED

5 Service Providers

2 Target | 3 Bidder

31 Dealmakers

1 Target | 30 Bidder

£ 26 M

Value

05 Feb 2024|United States|Health Care Services

Target: ELANCO ANIMAL HEALTH (AQUA BUSINESS)

Bidder: MERCK ANIMAL HEALTH

10 Service Providers

6 Bidder | 4 Vendor

64 Dealmakers

39 Bidder | 25 Vendor

£ 1.03 B

Value

14 Feb 2024|United States|Software

Target: COTIVITI HOLDINGS

Bidder: KKR & CO

15 Service Providers

4 Target | 6 Bidder | 5 Vendor

46 Dealmakers

15 Target | 24 Bidder | 7 Vendor

£ 8.75 B

Value

25 Feb 2024|Canada|Gold Mining

Target: OSINO RESOURCES CORP

Bidder: SHANJIN INTERNATIONAL GOLD (EX YINTAI GOLD)

10 Service Providers

6 Target | 4 Bidder

24 Dealmakers

17 Target | 7 Bidder

£ 214 M

Value

09 Jan 2024|Canada|Building Materials: Other

Target: YORKWEST PLUMBING SUPPLY

Bidder: FERGUSON

3 Service Providers

1 Target | 2 Bidder

17 Dealmakers

13 Target | 4 Bidder

£ 172 M

Value

04 Mar 2024|Canada|Nonferrous Metals

Target: PAK LITHIUM PROJECT

Bidder: FRONTIER LITHIUM INC

5 Service Providers

5 Bidder

14 Dealmakers

14 Bidder

£ 14 M

Value

20 Feb 2024|Canada|Electronic Equipment: Gauges and Meters

Target: CAM TRAN CO LTD

Bidder: WIND POINT PARTNERS

7 Service Providers

2 Target | 5 Bidder

29 Dealmakers

4 Target | 25 Bidder

n/a

Value

16 Jan 2024|Canada|Auto Parts

Target: CERKA INDUSTRIES

Bidder: DEXKO GLOBAL INC

3 Service Providers

1 Target | 2 Bidder

17 Dealmakers

1 Target | 16 Bidder

n/a

Value

22 Apr 2024|Canada|Gold Mining

Target: REUNION GOLD CORPORATION

Bidder: G MINING VENTURES CORP

7 Service Providers

4 Target | 3 Bidder

21 Dealmakers

19 Target | 2 Bidder

£ 514 M

Value

04 Mar 2024|United Kingdom|Alternative Fuels

Target: GREENERGY INTERNATIONAL

Bidder: TRAFIGURA GROUP PTE LTD

7 Service Providers

1 Target | 4 Bidder | 2 Vendor

30 Dealmakers

1 Target | 28 Bidder | 1 Vendor

n/a

Value

22 May 2024|United States|Test Inspection and Certification (TIC)

Target: ACUREN

Bidder: ADMIRAL ACQUISITION

16 Service Providers

3 Target | 10 Bidder | 3 Vendor

75 Dealmakers

8 Target | 33 Bidder | 34 Vendor

£ 1.46 B

Value

19 Mar 2024|Canada|Trucking

Target: CITY SPRING

Bidder: DEXKO GLOBAL INC

5 Service Providers

1 Target | 4 Bidder

26 Dealmakers

2 Target | 24 Bidder

n/a

Value

28 May 2024|United Kingdom|Renewable Energy Equipment

Target: ATLANTICA SUSTAINABLE INFRASTRUCTURE

Bidder: ENERGY CAPITAL PARTNERS LLC

13 Service Providers

4 Target | 7 Bidder | 2 Vendor

56 Dealmakers

15 Target | 31 Bidder | 10 Vendor

£ 5.92 B

Value

17 Jun 2024|United States|Soft Drinks

Target: PRIMO WATER CORPORATION

Bidder: BLUETRITON BRANDS

14 Service Providers

8 Target | 6 Bidder

48 Dealmakers

11 Target | 37 Bidder

£ 3.67 B

Value

06 Jun 2024|Canada|Construction Services

Target: NRB MODULAR SOLUTIONS

Bidder: ATCO STRUCTURES & LOGISTICS

4 Service Providers

1 Target | 1 Bidder | 2 Vendor

21 Dealmakers

1 Target | 3 Bidder | 17 Vendor

£ 31 M

Value

08 Dec 2023|Canada|Automobiles

Target: AUTOIQ DEALERSHIP GROUP (8 AUTOMOTIVE DEALERSHIPS LOCATED IN BARRIE, KITCHENER AND WATERLOO)

Bidder: CANADAONE AUTO GROUP

3 Service Providers

2 Bidder | 1 Vendor

26 Dealmakers

23 Bidder | 3 Vendor

n/a

Value

03 Jul 2024|United States|Consumer Services: Other

Target: CITRON HYGIENE

Bidder: BIDVEST GROUP LIMITED

11 Service Providers

2 Target | 8 Bidder | 1 Vendor

42 Dealmakers

1 Target | 13 Bidder | 28 Vendor

n/a

Value

15 Jul 2024|Canada|Iron and Steel

Target: STELCO HOLDINGS

Bidder: CLEVELAND-CLIFFS INC

15 Service Providers

7 Target | 8 Bidder

81 Dealmakers

48 Target | 33 Bidder

£ 1.92 B

Value

16 Jul 2024|Canada|Software

Target: VARICENT SOFTWARE

Bidder: WARBURG PINCUS LLC

15 Service Providers

6 Target | 9 Bidder

55 Dealmakers

20 Target | 35 Bidder

n/a

Value

29 Jul 2024|Canada|General Mining

Target: FILO CORP

Bidder: LUNDIN MINING CORPORATION

18 Service Providers

6 Target | 12 Bidder

98 Dealmakers

10 Target | 88 Bidder

£ 2.25 B

Value

09 Sep 2024|Canada|Integrated Oil and Gas

Target: VEREN (MIDSTREAM ASSETS)

Bidder: PEMBINA GAS INFRASTRUCTURE

4 Service Providers

3 Bidder | 1 Vendor

15 Dealmakers

14 Bidder | 1 Vendor

£ 304 M

Value

22 Oct 2024|Canada|Food Products

Target: VOORTMAN COOKIES LIMITED

Bidder: SECOND NATURE BRANDS

9 Service Providers

1 Target | 4 Bidder | 4 Vendor

30 Dealmakers

1 Target | 26 Bidder | 3 Vendor

£ 234 M

Value

15 Oct 2024|Canada|Residential REITs

Target: ALIGNVEST STUDENT HOUSING REIT

Bidder: FORUM REAL ESTATE INCOME AND IMPACT FUND (FORUM REIIF)

6 Service Providers

3 Target | 3 Bidder

43 Dealmakers

31 Target | 12 Bidder

£ 934 M

Value

17 Oct 2024|Canada|Specialty Retailers

Target: FRONTLINE OUTFITTERS

Bidder: MUNICIPAL EMERGENCY SERVICES

5 Service Providers

1 Target | 4 Bidder

15 Dealmakers

1 Target | 14 Bidder

n/a

Value

26 Sep 2024|United States|Security Equipment

Target: PREMIER SAFETY

Bidder: MUNICIPAL EMERGENCY SERVICES

6 Service Providers

2 Target | 4 Bidder

17 Dealmakers

1 Target | 16 Bidder

n/a

Value

18 Nov 2024|United States|Electrical Components

Target: NSI INDUSTRIES LLC

Bidder: SENTINEL CAPITAL PARTNERS

7 Service Providers

1 Target | 2 Bidder | 4 Vendor

29 Dealmakers

1 Target | 21 Bidder | 7 Vendor

n/a

Value

09 Sep 2024|Canada|Maintenance Repair and Overhaul (MRO)

Target: MCGUINNESS COATINGS

Bidder: ASHBRIDGE PARTNERS

2 Service Providers

2 Bidder

30 Dealmakers

30 Bidder

n/a

Value

09 Jul 2024|Canada|Environmental / Waste Management

Target: HM PIPE PRODUCTS

Bidder: CORE & MAIN LP

3 Service Providers

1 Target | 2 Bidder

28 Dealmakers

1 Target | 27 Bidder

n/a

Value

04 Dec 2024|Canada|Integrated Oil and Gas

Target: VESTA ENERGY

Bidder: PARALLAX ENERGY

11 Service Providers

1 Target | 10 Bidder

21 Dealmakers

2 Target | 19 Bidder

n/a

Value

11 Dec 2024|United States|Medical Equipment

Target: PATTERSON COMPANIES INC

Bidder: PATIENT SQUARE CAPITAL

17 Service Providers

5 Target | 12 Bidder

68 Dealmakers

12 Target | 56 Bidder

£ 3.21 B

Value

31 Dec 2024|Canada|Software

Target: SOFTCHOICE CORPORATION

Bidder: WORLD WIDE TECHNOLOGY

10 Service Providers

5 Target | 5 Bidder

35 Dealmakers

31 Target | 4 Bidder

£ 995 M

Value

15 Oct 2024|Canada|IT Services: Other

Target: BIRDSEYE SECURITY SOLUTIONS

Bidder: GREYLION PARTNERS

5 Service Providers

2 Target | 3 Bidder

29 Dealmakers

6 Target | 23 Bidder

n/a

Value

07 Jan 2025|Canada|Engineering Consulting

Target: KINECTRICS

Bidder: BWX TECHNOLOGIES

4 Service Providers

1 Target | 3 Bidder

42 Dealmakers

1 Target | 41 Bidder

£ 420 M

Value

03 Mar 2025|Canada|Plastics

Target: NOVA CHEMICALS CORPORATION

Bidder: BOROUGE GROUP INTERNATIONAL

13 Service Providers

1 Target | 11 Bidder | 1 Vendor

88 Dealmakers

1 Target | 76 Bidder | 11 Vendor

£ 10.65 B

Value

03 Feb 2025|United States|Energy / Utility Services

Target: BUILDING CONTROLS & SOLUTIONS

Bidder: PLATTE RIVER EQUITY

6 Service Providers

2 Target | 4 Bidder

25 Dealmakers

1 Target | 24 Bidder

n/a

Value

03 Feb 2025|Canada|Conventional Electricity

Target: AVL MANUFACTURING

Bidder: TOROMONT INDUSTRIES

4 Service Providers

2 Target | 2 Bidder

22 Dealmakers

20 Target | 2 Bidder

n/a

Value

02 Mar 2025|Canada|Real Estate Holding and Development

Target: AMICA SENIOR LIFESTYLES (ULTRA-LUXURY SENIORS HOUSING PORTFOLIO)

Bidder: WELLTOWER INC

9 Service Providers

3 Bidder | 6 Vendor

41 Dealmakers

4 Bidder | 38 Vendor

£ 2.53 B

Value

24 Apr 2025|Canada|Transportation Services

Target: ANDLAUER HEALTHCARE GROUP

Bidder: UPS (UNITED PARCEL SERVICE)

7 Service Providers

3 Target | 4 Bidder

52 Dealmakers

12 Target | 40 Bidder

£ 1.34 B

Value

05 May 2025|Canada|Integrated Oil and Gas

Target: PARKLAND CORPORATION

Bidder: SUNOCO

18 Service Providers

9 Target | 9 Bidder

84 Dealmakers

23 Target | 69 Bidder

£ 6.85 B

Value

01 Apr 2025|Peru|Platinum and Precious Metals

Target: COMPANIA MINERA KOLPA

Bidder: ENDEAVOUR SILVER

6 Service Providers

2 Target | 4 Bidder

16 Dealmakers

14 Target | 2 Bidder

£ 108 M

Value

27 May 2025|Canada|Insurance Brokers

Target: TRAVELERS (CANADIAN PERSONAL INSURANCE BUSINESS)

Bidder: DEFINITY FINANCIAL CORPORATION

8 Service Providers

3 Bidder | 5 Vendor

66 Dealmakers

23 Bidder | 43 Vendor

£ 1.77 B

Value

05 Jun 2025|Canada|Asset Managers and Custodians

Target: LORNE PARK CAPITAL PARTNERS

Bidder: SAGARD PRIVATE EQUITY CANADA

8 Service Providers

5 Target | 3 Bidder

39 Dealmakers

8 Target | 31 Bidder

£ 68 M

Value