Canadian Financial Services M&A Newsletter – Q4 2020

Canadian Financial Services M&A Newsletter – Q4 2020

The Canadian FS M&A Newsletter provides a market update and summary of key trends from the insurance, asset & wealth management, and banking sectors.

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M&A activity continued to recover during Q4 2020 as increased market stability and access to capital led to improved confidence from market participants in their ability to negotiate and execute on transactions.

The year ended with a flurry of global financial services deals with approximately C$453 billion of deals announced in 2020, up 10.0 percent from 2019. Though deal volume was similar in Q4 2020 compared to Q3 2020, deal value rose significantly by 100.6 percent in Q4 2020 compared to Q3 2020. Mega deals were a significant driver of this increase, as there were six transactions in Q4 2020 valued at more than C$5 billion.

Canadian financial services deal activity in Q4 2020 increased by 81.8 percent compared to Q4 2019 with 60 transactions across the sector. Activity continued to be concentrated in the insurance distribution and services sector, with the FinTech and payments sectors also exhibiting a number of transactions. 

Transaction activity is expected to continue to remain strong into 2021. Both strategic buyers and private equity investors are expected to be active with dealmakers looking to capitalize on opportunities to deploy record amounts of dry powder to pursue business growth strategies.

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