Origin Merchant Partners is pleased to announce it was the Exclusive Financial Advisor to Quadshift Inc. on its growth equity investment of up to $23 million.
Quadshift Inc. (“Quadshift”), a leading acquirer of vertically focused B2B software has secured up to $23 million in growth equity funding to accelerate its acquisition of leading vertical market software (“VMS”) businesses. The all-equity, all-primary round was led by BDC Growth Equity Partners (“BDC Growth Equity”) with participation from Celtic House Venture Partners (“Celtic House”) and other minority investors. Origin served as financial advisor to Quadshift with respect to this transaction.
Quadshift leverages AI to drive a leading-edge approach to sourcing and executing deals, simplifying and expediting the deal process for founders with the option to either exit completely or maintain significant upside as shareholders of a large, rapidly growing software company. The funding will accelerate the conversion of Quadshift’s acquisition pipeline and position the company for long-term success.
About Quadshift:
Founded in 2017, Quadshift has emerged as the preferred home for founders seeking a sale of their high-quality, mission-critical, vertically focused B2B software businesses. The company focuses on building strong, independent platform businesses through talent acquisition from strategic acquisitions and supports the growth of professional functions within those platforms by offering strategic guidance, best practices, and specialized hands-on resources. For more information, visit www.Quadshift.io.
About BDC Capital
BDC Capital is the investment arm of the Business Development Bank of Canada with over $7 billion of assets under management and has significant experience serving as a strategic partner to Canada’s most innovative and high-potential firms.
About Celtic House Venture Partners
Drawing from its 20 years of experience as an active investor in technology and innovation, Celtic House Venture Partners collaborates with exceptional founding teams with strong track records and a data-driven mindset to build category-leading technology companies. These collective efforts have resulted in over 25 IPO and M&A transactions.
Deal team: Mario Di Pietro Tedi Gjoleka
Origin Merchant Partners (“Origin”) is pleased to announce it was the Independent Financial Advisor to Softchoice Corporation (“Softchoice” or the “Company”) (TSX:SFTC) on its sale to Worldwide Technologies Holding Co., LLC (“World Wide Technology” or “WWT”).
The two companies have entered into an arrangement agreement (the “Arrangement Agreement”) for Softchoice to be acquired by WWT, via an all-cash transaction (the “Transaction”), which values Softchoice at an enterprise value of approximately C$1.8 billion. Based on the Company’s reported financial results for the trailing twelve months to September 30, 2024, the Consideration values the Company at an EV to Adjusted EBITDA multiple of ~13.2x. This acquisition will add new capabilities to WWT’s software, cloud, cybersecurity, and AI offerings to provide a comprehensive solutions portfolio across the full spectrum of the digital transformation journey.
Birch Hill Equity Partners (“Birch Hill”) and each of the directors and senior officers of the Company, representing approximately 51.3% of the outstanding shares of Softchoice, have entered into voting support agreements under which they have agreed, among other things, to support and to vote all shares held by them in favour of the Transaction. The voting support agreements terminate automatically upon termination of the Arrangement Agreement.
This engagement builds on Origin’s independent advisory practice for large public transactions and the product of our efforts to build on our expertise with leading financial sponsors.
Softchoice Corporation is a Software and Cloud-Focused IT solutions provider that equips organizations to be agile, innovative, and secure, and people to be engaged, connected, and creative at work. They deliver secure, AI-powered cloud and digital workplace solutions supported by advanced software asset management methodology and capabilities.
World Wide Technology Holding Co., LLC, is a global technology solutions provider leading the AI and Digital Revolution, that combines the power of strategy, execution and partnership to accelerate digital transformational outcomes for large public and private organizations around the world. Through its Advanced Technology Center, a collaborative ecosystem of the world’s most advanced hardware and software solutions, WWT helps customers and partners conceptualize, test and validate innovative technology solutions for the best business outcomes and then deploys them at scale through its global warehousing, distribution and integration capabilities.
Deal team: Jim Osler, Artem Krylov, Andrei Rojine, Charlie Pennock
Origin Merchant Partners (“Origin”) is pleased to announce that it acted as Exclusive Financial Advisor to Jump+ on their sale to an Investor Group led by Tim McGuire.
Jump+ is North America’s first and largest Apple Premium Reseller, catering to a nationwide network of retail and enterprise customers, through providing a complete offering of Apple products, accessories, and support services. Established in 2011, following a 30 year history and experience with Apple products, Jump+ started in Guelph, Ontario and has grown quickly to have a presence across Canada from coast to coast.
Origin Senior Leads: Mario Di Pietro, Greg Martin.
Origin Merchant Partners (“Origin”) is pleased to announce that it acted as Advisor to the Board of WonderFi Technologies Inc. (“WonderFi”) regarding governance and shareholder relations.
WonderFi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms with strongholds in the Canadian market; WonderFi operates Internationally through its expansion in Australia, as well as through Smartpay, its global crypto payments platform. With a collective user base of over 1.7 million registered Canadians and a combined assets under custody exceeding $1.5 billion, WonderFi serves one of the largest crypto-investor communities in Canada.
Origin Merchant Partners (“Origin”) is pleased to announce that it acted as exclusive financial advisor to Fan Tuan Holding Ltd. (“Fantuan”) on its acquisition of the Food Delivery business of Chowbus Inc. (“Chowbus”).
Fantuan: Founded in Vancouver, Canada, Fantuan is a one-stop platform providing services such as food delivery, fresh grocery and more. As one of the world’s leading Asian food delivery and lifestyle service platforms, Fantuan has developed a cutting-edge technology that closely connects business owners with customers to provide convenient, innovative, and efficient services to everyday life. Since its establishment in 2014, the company has demonstrated significant organic growth and operational excellence, operating in over 50 cities across Canada, the United States, Australia, and the United Kingdom.
Chowbus: Based in Chicago, Illinois, is a significant food delivery player in the US, particularly focusing on high-quality, authentic Asian cuisine. The company has empowered local independent restaurants and stores with technology, tools, and marketing support to foster business growth. The Food Delivery segment of Chowbus features an exclusive and curated list of high-quality mom-and-pop restaurants and stores in key US markets.
Origin Senior Leads: Mario Di Pietro, Tedi Gjoleka
Origin Merchant Partners is pleased to announce that Velocity Trade has received a significant investment from Wedbush Financial Services (“Wedbush”). Origin Merchant Partners was a financial advisor to Velocity Trade with respect to this transaction.
Velocity Trade is a global brokerage firm offering access to global over-the-counter (OTC) and exchange listed markets, as well as customized Wealth Management solutions via its WealthTech product suite. Through its global network of wholly owned regulated and registered subsidiary companies, Velocity Trade employs over 170 professionals that provide corporate and institutional clients competitive execution and custody services.
Wedbush is a diversified financial services holding company. Its primary subsidiary, Wedbush Securities, was founded in 1955 and has been a leader in the financial services industry, providing its clients, both private and institutional clients, with a wide range of securities brokerage and processing, wealth management, and investment banking services. Headquartered in Los Angeles, California with over 100 registered offices and nearly 900 colleagues, the firm focuses on bespoke client service and the utilization of advanced technology.
Origin Senior Leads: Alain Miquelon.
Origin Merchant Partners (“Origin”) is pleased to announce that Coinsquare Ltd. (“Coinsquare”) has completed its previously announced combination with Wonderfi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (“Wonderfi”) and CoinSmart Financial Inc. (NEO: SMRT) (FSE: IR). (“CoinSmart”). Origin was the exclusive financial advisor to Coinsquare on this transaction, which will create one of the largest regulated crypto asset trading platforms in Canada.
Coinsquare provides customers with a proprietary platform engineered to deliver a robust, secure, and intelligent interface for trading Bitcoin, Ethereum, Litecoin, and other digital assets. Since the privately owned company was founded in 2014, Coinsquare has grown to become Canada’s oldest operating digital asset firm, trading on behalf of over half a million Canadians. Coinsquare has successfully executed trades in excess of $8 billion to date.
Wonderfi creates access to digital assets through its two Canadian owned and operated, fully registered crypto-trading platforms Bitbuy and Coinberry. Bitbuy is Canada’s first registered digital asset marketplace, boasting over 400,000 registered users, and serving both beginner and advanced traders, institutions, and corporate clients. Coinberry, with a user base of over 200,000, is designed for crypto novices and retail traders.
CoinSmart is a leading Canadian-headquartered crypto asset trading platform for digital assets, including Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries. The company’s offerings include instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services.
Origin Senior Leads: Jim Osler, Tedi Gjoleka.
Origin Merchant Partners (“Origin”) is pleased to announce that it served as the exclusive financial advisor to Silverware POS Inc. (“Silverware”) on its sale to Fullsteam Operations LLC (“Fullsteam”).
Silverware is an industry leading POS software provider with established relationships with industry leading hotel chains and Michelin starred restaurants. The founder-owned company offers a range of products and services, including POS software, hardware, and peripherals, as well as support, and implementation services, to help hospitality businesses manage their operations more efficiently and effectively. Silverware’s modular integrations include table management, order entry, inventory management, reporting and analytics.
Fullsteam is a leading payments and software company providing streamlined payments infrastructure and enhanced operational support to its enterprise customers, helping to drive growth and profitability. Fullsteam has consolidated nearly 50 founder-led software companies, empowering founders to grow faster through payments optimization and investment in sales, marketing and product development.
Origin Senior Leads: Mario Di Pietro, Tedi Gjoleka.
Origin Merchant Partners (“Origin”) is pleased to announce that it served as the financial advisor to Kivuto Solutions Inc. (“Kivuto”) on its sale to Valsoft Corporation Inc. (“Valsoft”).
Kivuto is a leading independent provider of edtech solutions, providing a suite of software solutions trusted by academic institutions around the world to enable a modern learning environment in which students have easy access to the tools they need to succeed. By partnering with a broad ecosystem of partners, Kivuto provides solutions to thousands of renowned academic institutions. Founded in 1997, Kivuto is headquartered in Ottawa and employs ~55 dedicated, highly qualified team members.
Valsoft acquires and develops vertical market software companies, enabling each business to deliver the best mission-critical solutions for customers in their respective industries or niche. A key tenet of Valsoft’s philosophy is to invest in well-established businesses and foster an entrepreneurial environment that molds companies into leaders in their respective industries. Valsoft looks to buy, hold and create value through long-term partnerships with existing management.
Origin Senior Leads: Jim Meloche, Shaun Quennell.
Origin Merchant Partners is pleased to announce that Concierge Plus Inc. (“Concierge Plus”) has entered into a strategic partnership with Arnell Capital, LLC (“Arnell”). Origin Merchant Partners acted as exclusive financial advisor to Concierge Plus with respect to this transaction.
Concierge Plus is an industry-leading property management platform provider. With over 20 years of experience, Concierge Plus provides an easy-to-use cloud-based interface with extensive and scalable functionality for everyday tasks, making life easier for residents, staff and property managers. Headquartered in Florida, Concierge Plus operates coast-to-coast across the United States and Canada and works with condo and multi-residential communities of all sizes.
Arnell is a Chicago-based private investment firm focused on acquiring small- to mid-sized businesses. The firm aims to acquire and grow each business throughout North America and ensure long-term value creation for owners, employees, and clients.
Origin Senior Leads: Cathy Steiner, Mario Di Pietro.
Origin Merchant Partners is pleased to announce that Think Research Corporation (“Think”) has closed an initial advance of $10 million from Beedie Investments Ltd (“Beedie”) under a convertible loan facility of up to $25 million. Origin Merchant Partners was the exclusive financial advisor to Think with respect to this transaction.
Think (TSXV: THNK) (OTCQB: THKKF) is focused on transforming healthcare with their evidence-based digital health software solutions, aiming to deliver the latest clinical information and data to empower clinicians. The Company is a trusted health system partner to a global client base that spans five continents across more than 13,000 healthcare facilities, rapidly growing through organic growth and a highly acquisitive strategy.
Beedie is the private equity arm managing the alternative investments and assets for Beedie Development Group (Real Estate Development). Beedie provides flexible financing solutions to companies seeking growth capital for acquisitions, new product launches, sales and marketing efforts and other strategic initiatives.
Origin Senior Leads: Cathy Steiner, Jim Meloche
Origin Merchant Securities Inc. is pleased to announce that Clik2Pay has successfully completed its Series A Financing. The investment round includes a lead investment by Celina Capital Corporation, as well as several of the company’s existing investors and additional private individuals. With this financing, Clik2Pay has raised over $7 million of seed and early stage capital to fund the completion of its pilot projects and commercial launch of its product. The Origin Merchant Principals Fund was a seed round investor and Origin Merchant Securities Inc. acted as the exclusive financial advisor to Clik2Pay with respect to the Series A financing.
Clik2Pay is Canada’s first real-time payments service delivering low cost, real-time payment solutions to businesses of all sizes. Clik2pay’s innovative service lets customers easily pay from their bank account by text, e-mail or QR code. The company provides a long-awaited alternative to expensive options like credit card and cheque, and legacy systems such as the existing bill pay network and pre-authorized debits.
Celina Capital Corporation was established in 2017 to make direct investments in entrepreneurial companies and diverse real estate assets. The firm invests its proprietary, long-term capital in growth-driven management teams that need an experienced financial partner to support their strategic objectives.
Origin Senior Leads: Mark Ernst, Jim Osler
Origin Merchant Partners is pleased to announce that CBC Computer Systems and its industry leading Decor Fusion Point-of-Sale software (together referred to as “Decor Fusion”) has been acquired by Epicor Software Corporation (“Epicor”). Origin Merchant Partners acted as exclusive financial advisor to Decor Fusion with respect to this transaction.
Decor Fusion provides industry-leading Decor Fusion Point-of-Sale software for Paint and Decorating retailers. Since 1991, the company has served more than 1,350 retailers with its Decor Fusion software, delivering a comprehensive solution to make it easier and more efficient for independent Paint and Decorating retailers to run and manage their operations.
Epicor equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the manufacturing, distribution, LBM, retail, and automotive industries have trusted Epicor to help them do business better. Epicor’s innovative solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality.
Origin Senior Leads: Mario Di Pietro, Tedi Gjoleka
Origin Merchant Partners is pleased to announce that Dapasoft Inc. (“Dapasoft”) , including Dapasoft and its wholly owned subsidiary, iSecurity, has been acquired by Calian Group Ltd (“Calian”). Origin Merchant Partners acted as exclusive financial advisor to Dapasoft with respect to this transaction.
Dapasoft is trusted by North American healthcare providers, payors, and application developers to power their solutions, integrating a wide variety of EHR, EMR, and other clinical and analytics systems. Dapasoft’s wholly owned subsidiary, iSecurity delivers world-class enterprise solutions that manage cybersecurity risk while addressing unique regulatory requirements and critical infrastructure.
Calian (TSX: CGY) Calian employs over 4,400 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through: Advanced Technologies, Health, Learning, and IT and Cyber Solutions.
Origin Senior Leads: Cathy Steiner, Lindsay Adam Weiss, Shaun Quennell
Origin Merchant Partners is pleased to announce that LifeSpeak Inc. (“Lifespeak”) has raised $42 million in an equity investment from a syndicate including Round13 Growth Fund, Roynat Capital, and Kensington Capital Partners. Origin Merchant Partners was the exclusive financial advisor to LifeSpeak with respect to this transaction.
LifeSpeak is a leading digital mental health and wellness education platform, providing employees, health plan members and their families with remote access to leading experts in mental health, physical wellness, financial health, family relationships and professional skills development, through a proprietary collection of content and tools. A North American leader in well-tech, LifeSpeak has a well-established 16 year track record of effectiveness, engagement and client retention.
Round13 Growth Fund (“Round13”) invests in Canadian based growth opportunities including those in technology and healthcare, as well as more traditional industries where there is an opportunity for technology enablement. Round13 helps to bridge the late-stage growth funding gap in Canada between traditional venture capital and public market investors.
Roynat Inc.(“Roynat”) is a wholly owned subsidiary of Scotiabank, one of North America’s premier financial institutions and Canada’s international bank. Roynat provides alternative financing solutions to Canadian mid-market businesses.
Kensington Capital Partners (“Kensington”) is a leading Canadian alternative investment firm with $ 1.5 billion in assets under management. Kensington’s portfolio of innovative investments includes diversified funds focused on private equity, venture capital, infrastructure assets and hedge funds.
Origin Senior Leads: Mario Di Pietro, Cathy Steiner, Christopher Solda
Origin Merchant Partners is pleased to announce that Mobile Klinik has been acquired by TELUS Corp. Origin Merchant Partners acted as exclusive financial advisor to Mobile Klinik with respect to this transaction.
Mobile Klinik is Canada’s largest and fastest-growing professional while-you-wait smartphone and tablet repair, care and services retail chain with 81 stores across Canada.
TELUS is a dynamic, world-leading communications and information technology company with more than 15 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security.
Origin Senior Leads: Mario Di Pietro, Mark Ernst
Origin Merchant Partners is pleased to announce that WildBrain Ltd. (“WildBrain”) has successfully completed its $25 million exchangeable debenture financing by Fine Capital Ltd. (“Fine Capital”). Origin Merchant Partners acted as financial advisor to the Corporate Finance Committee on its debenture financing by Fine Capital Partners L.P.
WildBrain Ltd. (TSX:WILD) Canadian media production and brand licensing company, specialising in content for kids and families. With approximately 13,000 half-hours of filmed entertainment in their collection, their shows are seen in more than 150 countries on over 500 telecasters and streaming platforms. Their AVOD business – WildBrain Spark – offers one of the largest networks of kids’ channels on YouTube, with over 168 million subscribers. WildBrain licenses consumer products and location-based entertainment in every major territory for their own properties as well for clients and content partners. WildBrain television group owns and operates four family entertainment channels that are among the most-viewed in Canada.
Fine Capital Partners L.P., is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It invests in the public equity markets of the United States. The firm uses long and short equity strategy to make its investments. It employs fundamental analysis to make its investments. The firm obtains external research to complement its in-house research. Fine Capital Partners, L.P. was founded in 2004 and is based in New York City.
Origin Senior Lead: Jim Osler
Origin Merchant Securities Inc. is pleased to announce that Mobile Klinik has successfully completed its $27.5 million private placement. The investment round includes a substantial investment by the Canadian Business Growth Fund, as well as private individuals, including several of the company’s early-stage investors.
Origin Merchant Securities Inc. acted as the exclusive financial advisor to Mobile Klinik with respect to this transaction.
Mobile Klinik is Canada’s largest and fastest-growing professional while-you-wait smartphone and tablet repair, care and services retail chain with 50 stores as of May 2019, in BC, Alberta, Manitoba, Saskatchewan, Ontario, Quebec, New Brunswick, Newfoundland and Labrador.
The Canadian Business Growth Fund (“CBGF”) provides long-term, patient, minority capital to ambitious Canadian entrepreneurs with talented management teams to fund growth and expansion of mid-market businesses. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in.
Origin Senior Lead: Mario Di Pietro
Origin Merchant Partners is pleased to announce that Yellow Pages Limited (TSX:Y) (“Yellow Pages”) has completed the sale of the ComFree / DuProprio Network to Purplebricks Group plc (AIM:PURP) in a transaction valued at approximately C$51 million.
Origin Merchant Partners acted as exclusive financial advisor to Yellow Pages with respect to this transaction.
Yellow Pages Limited (“Yellow Pages”) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Media owns and operates some Canadian properties and publications including Yellow Pages directories, YellowPages.ca, Canada411.ca, and RedFlagDeals.com. Yellow Pages is a leader in national advertising through its businesses devoted to servicing the marketing needs of large North American brands, including Mediative and JUICE.
ComFree/DuProprio Network (“CFDP”) is a leading and innovative online real estate company that provides consumers a platform to buy and sell property in Canada in a proven and cost-effective manner. CFDP owns the #1 real estate site in its home market of Quebec, holding a ~20% share of the province’s listings, and operates a national platform with growing brand awareness and significant growth potential across the rest of Canada.
Purplebricks Group plc (“Purplebricks”) is a pioneering next generation real estate brokerage, combining highly experienced and professional Local Real Estate Experts with an innovative and intuitive technology platform to make the entire process of selling and buying homes much more convenient, transparent and cost effective. Purplebricks has offices in major real estate markets including the United Kingdom, Australia, the United States, and now Canada.
Origin Senior Leads: Jim Osler, Mario Di Pietro
Origin Merchant Partners is pleased to announce that Dealnet Capital Corp. (TSXV:DLS) has completed the sale of Impact Mobile to IMImobile Canada Inc. (AIM:IMO), a wholly-owned subsidiary of IMImobile plc, in a transaction valued at approximately $27.5 million.
Origin Merchant Partners acted as exclusive financial advisor to Dealnet Capital Corp. with respect to this transaction.
Dealnet Capital Corp. (“Dealnet”) is a specialty finance company servicing the $20 billion Canadian home improvement finance market through both dealer-based and direct homeowner-based originations of secured finance assets.
Impact Mobile Inc. (“Impact”) is Canada’s leading provider of mobile messaging aggregation solutions. Impact’s JumpTXT® platform is a messaging infrastructure that allows its clients to reach mobile subscribers using SMS, MMS and mobile web.
Impact was founded in 2002, with offices in Toronto and New York City.
IMImobile Canada Inc. (“IMI”) is a UK-based global software and solutions company that enables organizations to use mobile and digital technologies to communicate and engage with their customers.
Origin Senior Leads: Jim Osler, Lindsay Adam Weiss, Shaun Quennell
