PEI’s CMP Acquired
https://blog.cmpequipment.com/blog/fps-to-acquire-cmp
PEI’s Charlottetown Metal Products (CMP) is being acquired by BC-based Food Process Solutions (FPS).
FPS provides freezing and cooling equipment, while CMP is a designer/builder of custom food processing equipment. According to the news release, FPS has big growth plans for CMP.
Target Mazda acquired
https://www.ngnews.ca/business/new-glasgow-mazda-dealership-asks-communitys-help-with-rename-255627/
The New Glasgow News is reporting that the NB-based Smith family has acquired New Glasgow, NS’s Target Mazda car dealership.
The Smith family also own Mazda dealerships in Dieppe, NB and Truro, NS, while Target Mazda claims to be the oldest Mazda dealership in Atlantic Canada.
This is another in a long series of transactions in the consolidating auto dealer industry, which has been commented on in this blog many times.
Conquest Engineering acquired
https://www.thechronicleherald.ca/business/cbcl-acquires-conquest-engineering-265070/
The Chronicle Herald is reporting that Halifax-based CBCL Ltd has acquired Conquest Engineering Ltd of Saint John, NB. As is common with many engineering firms, both are said to be employee-owned.
This continues the consolidation trend in the engineering industry.
Welaptega sells to Ashtead
https://www.ashtead-technology.com/news-events/ashtead-technology-acquires-welaptega/
Scotland-based Ashtead Technology has announced its acquisition of Halifax’s Welaptega (owned by Tony Hall). Welaptega does inspections of offshore moorings, while Ashtead is a subsea equipment and services provider.
Edible Matters restaurant deal
https://www.thechronicleherald.ca/business/local-restaurant-edible-matters-gobbled-up-248996/
The Chronicle Herald is reporting that the Hammond Plains restaurant/bar Edible Matters has been sold. The Webber family sold to the Doherty family, which owns the Old Triangle bars throughout the Maritimes.
Business succession in NL
https://soundcloud.com/vocm/sept-1st-greg-london-dan-jennings-of-bdo-valuing-your
On a recent VOCM radio show in NL (hosted by BDO partner Nancy Snedden), tax colleague Greg London and I talk in-depth about the challenges of business succession in NL. We covered a wide variety of topics, such as demographics, taxes, the buyer landscape and more.
Maritime Fuels acquires Affordable Fuels
The Chronicle Herald is reporting that Halifax-based Affordable Fuels has been sold to Maritime Fuels. Steve Williams was the vendor while Charles Higgins and Ivan Cassell are the principals behind Maritime, which in turn acquired the former Pepco business in Atlantic last year.
This is further consolidation of the heating oil distributor market in NS, which I’ve commented on here over the last several years.
