A total of 34 Equity Offering deals (pending and completed) were announced in the Construction of Canada, in the last twelve months resulting in a total deal value of over $3,585.5 million. In the LTM period, October 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $1,106.7 million, resulting in an average deal value of $553.4 million during that month. On the other hand, the month of April 2022 was the most prolific in terms of deal volume, recording a total of 7 deals, resulting in an average deal value of $4.6 million during that month.
Of the 34 deals, the deal secured between Hydro-Quebec and Innergex Renewable Energy Inc, was the largest Equity Offering deal in the Canada Construction sector, which was valued at $39.7 million and was completed on August 17, 2021. The second-largest deal was between HQI Canada Holding Inc. and Innergex Renewable Energy Inc, while the third-largest deal was between Armco Alberta Inc; G2S2 Capital Inc; Matco Investments Ltd and Western Energy Services Corp. The HQI Canada Holding Inc.-Innergex Renewable Energy Inc deal and the Armco Alberta Inc; G2S2 Capital Inc; Matco Investments Ltd-Western Energy Services Corp deal were valued at $29.6 million and $26.1 million, respectively. The fourth-largest deal was between Wilks Brothers LLC-Cathedral Energy Services Ltd valued at $20.8 million, whereas the deal between Alumina Partners (Ontario) Ltd.-Wavefront Technology Solutions Inc valued at $9.7 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $125.9 million and accounted for nearly 3.51% of the total deals (by value) announced during the last twelve months.
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