M&A Deal Summary

KKR Acquires mdf commerce

On March 11, 2024, private equity firm KKR acquired internet software and services company mdf commerce from Echelon Wealth Partners for 255M CAD

Acquisition Highlights
  • This is KKR’s 35th transaction in the Internet Software and Services sector.
  • This is KKR’s 101st largest (disclosed) transaction.
  • This is KKR’s 11th transaction in Canada.
  • This is KKR’s 2nd transaction in Quebec.

M&A Deal Summary

Date 2024-03-11
Target mdf commerce
Sector Internet Software and Services
Buyer(s) KKR
Sellers(s) Echelon Wealth Partners
Deal Type Going Private
Deal Value 255M CAD
Advisor(s) Scotia Capital, Inc. (Scotiabank - Global Banking and Markets) (Financial)
McCarthy Tétrault
Foley & Lardner (Legal)

Target

mdf commerce

Longueuil, Quebec, Canada
mdf commerce enables the flow of commerce by providing a broad set of software-as-a-service (SaaS) solutions that optimize and accelerate commercial interactions between buyers and sellers. The company's platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. mdf commerce was founded in 1996 and is based in Longueuil, Canada.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 469 of 483
Sector (Internet Software and Services) 35 of 36
Type (Going Private) 37 of 37
State (Quebec) 2 of 2
Country (Canada) 11 of 11
Year (2024) 4 of 18
Size (of disclosed) 101 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-26 Broadcom - EUC Division

San Jose, California, United States

Broadcom’s EUC Division provides a suite of digital workspace solutions that allow organizations to securely deliver and manage applications, desktops and data across any device or platform. The EUC Division is based in San Jose, California.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Avantus

Los Angeles, California, United States

Avantus is a developer of solar PV and storage projects. The company supports solar and energy storage development throughout the project lifecycle from selecting a project site through operations and owns a large project pipeline of 30 GWp of solar and 94 GWh of battery storage, enough to provide 20 million people with clean, reliable power. Avantus was founded in 2009 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

Echelon Wealth Partners

Toronto, Ontario, Canada

Category Company
Founded 2010
Sector Financial Services
DESCRIPTION

Echelon Wealth Partners is an independently owned and operated wealth management and capital markets firm. Echelon Wealth Partners was founded in 2010 and is based in Toronto, Ontario.


DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Going Private) 1 of 1
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-04 mdf commerce

Longueuil, Quebec, Canada

mdf commerce enables the flow of commerce by providing a broad set of software-as-a-service (SaaS) solutions that optimize and accelerate commercial interactions between buyers and sellers. The company's platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. mdf commerce was founded in 1996 and is based in Longueuil, Canada.

Buy -