Canada's M&A Landscape Q2 2024: Special Edition on Quebec

Written By Jean Tessier, Julia Qian Wang, Vanessa Trépanier, Sam Kennedy and Chloe SooYun Cho
July 24, 2024

In the second quarter of 2024, the Canadian M&A landscape showcased significant activity, with Quebec emerging as a focal point of investment and deal-making. While global M&A saw steady growth, Canada's market demonstrated a healthy rise in deal volume and value, particularly in sectors like finance, energy, technology, healthcare and mining.

Deal making trends we are following as we move through 2024 include:

  • continued increase in M&A transactions, with growing deal counts and volumes;
  • significant transactions involving Québec companies in fintech and other sectors;
  • Québec's leadership in energy transition with the development of an EV battery hub, attractive tax incentives and major foreign investments like Northvolt's $7 billion megaplant;
  • effects of the Bank of Canada's interest rate cuts, new federal capital gains inclusion rate, and Quebec's Bill 63 on the investment landscape; and
  • rising investment values, with Québec capturing a large share of Canada's VC and PE funds, achieving record-high transaction sizes.

These trends indicate a dynamic and evolving market environment with significant opportunities and challenges across various sectors in Canada, particularly in Quebec. Embrace the ever-evolving world of M&A and equip yourself for success with this Q2 report.

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