What’s the Deal? Q3 2018 – Industrials & Diversified Services Quarterly Review

Q3 2018 was another strong quarter for mid-market transactions. Within the industrial, diversified, and oilfield services segments, Q3 saw 108 disclosed transactions where either the target company or the buyer were Canadian. Of the 108 transactions, 93% were in the Industrial & Diversified sector, 7% were in the Oilfield Services Sector. There were 24 transactions in the Industrial & Diversified …

Tips for tapping into Western Canada’s red-hot M&A deal flow

Frothy valuations in public equity markets are turning more investors to private markets for returns, and there are lots of opportunities to be had, if you know where to look. According to Export Development Canada, small and medium-sized enterprises (SMEs, or businesses with under $50 million in annual revenue) make up about 98% of Canada’s businesses and account for 30% of …

Sequeira Energy Synopsis – August 2018 Newsletter

Our Sequeira OFS Index was up 3.2% month-over-month and up 5.2% year-over-year to the end of August. Canadian OFS stocks rallied through August before experiencing a pull-back the last week due to the reversal of the Trans Mountain pipeline expansion approval. The reversal served to re-emphasize the significant take-away capacity constraints limiting oil production growth in the WCSB; however, the …

May 2018 Sequeira Synopsis

Sequeira Energy Synopsis – July 2018 Newsletter

Our Sequeira OFS Index was down 0.2% month-over-month and down 3.1% year-over-year to the end of July. Over that same period, WTI was down 5.1% month-over-month, but up 37.1% year-over-year – demonstrating the year-over-year dichotomy between OFS stock returns and crude prices. While many of the larger American oilfield service companies beat consensus Q2 earnings expectations, their Canadian counterparties earnings …