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M&A Deal Summary

Steep Hill Acquires Steep Hill Labs

On December 8, 2021, Steep Hill acquired life science company Steep Hill Labs from Merida Capital Holdings

Acquisition Highlights
  • This is Steep Hill’s 1st transaction in the Life Science sector.
  • This is Steep Hill’s 1st transaction in the United States.
  • This is Steep Hill’s 1st transaction in California.

M&A Deal Summary
Date 2021-12-08
Target Steep Hill Labs
Sector Life Science
Buyer(s) Steep Hill
Sellers(s) Merida Capital Holdings
Deal Type Merger

Target

Steep Hill Labs

Berkeley, California, United States
Steep Hill is a cannabis science and technology firm. Steep Hill’s core business is testing and analyzing medical and recreational marijuana to ensure compliance with public safety standards. In addition to its core business, Steep Hill is also an innovative R&D Lab that has developed and commercialized two highly-differentiated and proprietary products: the QuantaCann and the GenKit.

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Buyer(S) 1

Buyer

Steep Hill

Toronto, Ontario, Canada
Category Company
Founded 2008
Sector Life Science
Revenue 1M CAD (2022)
DESCRIPTION

Steep Hill is a science and technology company focused on providing products and services within the hemp and cannabis space. The Company's focus is on two strategic initiatives: (i) Science and technology - to provide science-backed differentiated products and services that are critical within the sector, and (ii) Quality and compliance - to ensure all products and services meet the highest standards of quality, safety and adherence to compliance standards and requirements. Steep Hill was founded in 2008 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1

Seller(S) 1

SELLER

Merida Capital Holdings

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2016
PE ASSETS 350M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Merida Capital Partners is a private investment firm focused on acquiring and investing in companies that support the cannabis industry. These include cultivation infrastructure, data and technology services, pharmaceutical development, and medical cultivation. Merida Capital Partners was formed in 2016 and is based in New York, New York.

DEAL STATS #
Overall 4 of 4
Sector: Life Science M&A 1 of 1
Type: Merger M&A Deals 3 of 3
State: California M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 KushCo

Tustin, California, United States

KushCo provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, KushCo has sold more than 100 million units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The Company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.

Sell -
Mergr

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