Sophie Lamonde is a partner and Head of the Montréal office’s Mergers & Acquisitions Group as well as a member of the firm’s Partnership Board. Her practice is directed primarily to the areas of mergers & acquisitions and private equity, with a particular focus on cross-border transactions. Sophie’s extensive corporate law experience includes advising Canadian and international clients in acquisitions, divestitures, reorganizations and general commercial negotiations. She represents clients in various industries, including aviation, retail, manufacturing, contract research, technology and media.
Although global M&A activity pulled back significantly in the second quarter of 2020, there has been a remarkable resurgence of activity in the third quarter which has kept private equity firms especially busy. According to data analysis firm MergerMarket, an abundance of dry powder has enabled private equity investors to take advantage of the challenging economic conditions, such that year to date, private equity’s M&A market share stands at 19.7%, an all-time high.
On March 31, 2017, J.C. Flowers & Co. LLC (“J.C. Flowers”) and Värde Partners completed the acquisition of CitiFinancial Canada (now Fairstone Financial Inc. (“Fairstone”)) from an affiliate of Citigroup Inc. (“Citi”).
On September 23, 2016, Marriott International, Inc. (NASDAQ: MAR) completed its acquisition of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), creating the world’s largest hotel company. The US$13-billion merger combines Marriott brands, including Ritz-Carlton, Courtyard and Residence Inn, with W Hotels, Westin, Sheraton and other Starwood brands.
On May 31, 2016, TELUS Corporation (TELUS) completed a previously-announced transaction whereby Baring Private Equity Asia (Baring Asia) acquired a 35-per cent equity stake in TELUS International (Cda) Inc. (TELUS International).
An affiliate of Mattamy Homes Ltd. acquired all of the issued and outstanding shares of Monarch Corporation, the Canadian operations of US homebuilder Taylor Morrison Home Corporation, for CAD$335 million at closing, subject to customary post-closing adjustments. Immediately prior to the closing, approximately C$235 million of cash at Monarch was distributed to a subsidiary of TMHC for total proceeds of C$570 million from the share sale. The transaction closed following the satisfaction of customary closing conditions, including clearance by the Canadian Competition Bureau.