M&A Deal Summary

Loblaw Companies Acquires Lifemark

On March 14, 2022, Loblaw Companies acquired healthcare services company Lifemark from Audax Private Equity for 845M CAD

Acquisition Highlights
  • This is Loblaw Companies’ 1st transaction in the Healthcare Services sector.
  • This is Loblaw Companies’ 2nd largest (disclosed) transaction.
  • This is Loblaw Companies’ 6th transaction in Canada.
  • This is Loblaw Companies’ 4th transaction in Ontario.

M&A Deal Summary
Date 2022-03-14
Target Lifemark
Sector Healthcare Services
Buyer(s) Loblaw Companies
Sellers(s) Audax Private Equity
Deal Type Add-on Acquisition
Deal Value 845M CAD
Advisor(s) Harris Williams (Financial)
Blake, Cassels & Graydon
Kirkland & Ellis (Legal)

Target

Lifemark

Toronto, Ontario, Canada
Lifemark is a provider of physiotherapy and rehabilitation treatment to patients in over 100 clinics as well as long-term care centers, retirement homes, and communities across Canada. Lifemark was founded in 1998 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Loblaw Companies

Brampton, Ontario, Canada
Category Company
Founded 1919
Sector Retail
Employees220,000
Revenue 59.5B CAD (2023)
DESCRIPTION

Loblaw Companies is a provider of grocery, pharmacy, health and beauty, apparel, general merchandise, banking, and wireless mobile products and services in Canada and the United States. Loblaw Companies was incorporated in 1919 and is based in Brampton, Canada.

DEAL STATS #
Overall 6 of 6
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (Ontario) 4 of 4
Country (Canada) 6 of 6
Year (2022) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-26 Eyereturn Marketing - Technology

Toronto, Ontario, Canada

Eyereturn Marketing, Inc.'s Technology expertise in connecting brands and consumers online through targeted ad campaigns and promotions. Eyereturn Marketing, Inc.'s Technology is based in Toronto, Ontario.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 92 of 102
Sector (Healthcare Services) 9 of 11
Type (Add-on Acquisition) 28 of 35
State (Ontario) 2 of 2
Country (Canada) 3 of 3
Year (2022) 5 of 6
Size (of disclosed) 5 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Stonewall Kitchen

York, Maine, United States

Stonewall Kitchen is a specialty food and home goods producer selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high-quality products. Stonewall expanded the brand to include sauces, condiments, crackers, and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Stonewall Kitchen was founded in 1991 and is based in York, Maine.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Flow Control Holdings

Cincinnati, Illinois, United States

Flow Control Holdings specialize in highly engineered sanitary and high purity flow components for market-critical applications within the food, beverage, and pharmaceutical industries. Flow Control Holdings was founded in 2018 and is based in Cincinnati, Illinois.

Buy -
Mergr

Product

Company

Legal