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This episode highlights the growing role of competition and foreign investment law in Canadian midmarket transactions. Special guest Michael Kilby, head of the Competition and Foreign Investment Group at Stikeman Elliott, highlights the increasing regulatory scrutiny of small and medium-sized transactions in the wake of recent amendments to the Competition Act. Scenarios that are attracting regulatory attention, include private equity roll-up strategies in sectors such as veterinary services, dentistry, and software (particularly AI). Also discussed are changes to the foreign investment review process in Canada and their impact on transaction timing and risk allocation.
On this week's episode, we welcome Mario Nigro, a partner at Stikeman Elliott, to discuss navigating the world of search funds and recent trends in mid-cap M&A.Mario shares his journey to becoming an M&A expert and offers insights into the evolving landscape of mergers and acquisitions, particularly in the Canadian market.He explains the rising popularity of the entrepreneurship-through-acquisition model and highlights the essential traits for aspiring search fund founders.We also explore current trends in mid-market M&A, the impact of rising interest rates, and the significant changes since the 2021-2022 market correction.Mario provides practical tips for sellers preparing for M&A and emphasizes the importance of strategic planning and cultural due diligence for buyers.Finally, Mario shares his outlook on the future of mid-market M&A, the role of technology, and the opportunities available for young entrepreneurs.About Mario Nigro:Mario Nigro is a partner at Stikeman Elliott LLP, where he works in the Mergers & Acquisitions and Private Equity & Venture Capital Groups. His practice includes mergers and acquisitions, private equity, venture capital, and corporate reorganizations. Mario has worked with clients in various industries, including technology, food, retail, and manufacturing. He also hosts the "Views from the Market: Midmarket M&A and Private Equity" podcast.Before Stikeman Elliott, Mario was a partner at Blake, Cassels & Graydon LLP, focusing on corporate and commercial law, mergers and acquisitions, and energy transactions. He also has experience with Ontario Power Generation and served as a policy adviser in the Office of the Ontario Minister of Education.Mario earned law degrees from McGill University, a Master's and a Bachelor's of Education from Western University, and a Bachelor of Arts from the University of Toronto.* (01:13) Mario discusses his journey from kindergarten teacher to M&A expert.* (03:00) Overview of the rise of search funds and differences between traditional and self-funded models.* (04:56) Explanation of the economic structures in search funds.* (07:00) Discussion on how search funds have evolved in Canada.* (12:04) Why investors prefer funded search models and their benefits.* (14:55) Key traits of successful search fund founders.* (19:22) Current trends in mid-market M&A and the role of search funds.* (24:25) Increasing role of technology in M&A and its impact on traditional industries.* (28:40) Impact of rising interest rates on mid-market M&A deals.* (31:20) Common pitfalls for sellers and the importance of preparation.* (35:45) Advice for new CEOs post-acquisition on building strong relationships.* (43:00) Mario's outlook on the future of mid-market M&A in Canada.* (49:00) Tips for managing complex and high-pressure deal negotiations.Mario's Fast Favorites:
Mario's guest today is Stikeman Elliott's Khalfan Khalfan, an expert in employment-related transactional issues. Topics discussed include, among others, new statutory curbs on the enforceability of employment non-competes, Canadian approaches to post-closing retention of vendor management, independent contractor mischaracterization issues and Competition Act prohibitions on no-poach agreements and wage-fixing between unrelated entities.
In this podcast, Mario speaks with Liz Pillon, leader of the restructuring practice in Stikeman Elliott's Toronto office, about the role that restructuring professionals are playing in today's M&A market. In 2023, Liz has noted a considerable increase in formal insolvency proceedings after a period in which lenders had been hesitant to initiate them. If involved early enough, restructuring lawyers can often help businesses find out-of-court alternatives, including by connecting them with investors who specialize in distressed assets. Liz and her team are currently seeing extensive “distressed M&A” interest in sectors such as real estate, distribution/manufacturing and pharma, among others.
In this podcast, Mario Nigro speaks with Stikeman Elliott's Eric Bremermann, a specialist in acquisitions involving Canadian and European businesses – particularly those from German-speaking countries. In the past year, Eric has observed a surge in interest in Canadian critical mineral sector as European firms look to low-risk, “friendly” sources of key supply chain components, including lithium.
Joining Mario is Anne Ristic, CEO of Agency Employment Services (AES). Anne, a longtime partner of Stikeman Elliott, recounts her decision to embark on a new career as of 2022, and how the search fund model allowed her to find a perfect fit in the form of AES, a growing HR back office business. She and Mario also discuss some of the challenges faced by a first-time CEO as well as the current state of the human resources marketplace.
Mario's guest for this podcast is Sara Zborovski, a partner at Stikeman Elliott and leader of the firm's life sciences and healthcare regulatory practice. As Sara and Mario discuss, the recent surge in health sector M&A has shown the importance of expert regulatory guidance relating to everything from telemedicine and medical AI technology to the compliance aspects of roll-up acquisitions of professional practices.
Mario's guest on this edition of the podcast is Shawn Neylan, a partner at Stikeman Elliott and a specialist in foreign investment issues of all types. In recent years, and particularly since the Russian invasion of Ukraine in February 2022, compliance with economic sanctions legislation has been a growing regulatory issue for many Canadian businesses. Today, even small and medium-sized businesses are developing internal policies and education programs and, as Shawn notes, such efforts often require attention to not only Canadian sanctions regulations but U.S. and other foreign requirements as well.
In this episode, Patrick Essiminy is joined by Charif El-Khouri, a senior associate in the Employment & Labour Group at Stikeman Elliott in Montréal recognized for his practical, business-minded advice. While the pandemic has proven that many remote work arrangements are mutually advantageous, Charif finds that employers attempting to integrate remote and hybrid scenarios into existing employment terms and conditions face three fundamental challenges.
In this episode, Mario welcomes Ramandeep Grewal, Partner and Member of the Corporate Group at Stikeman Elliott in Toronto. Well-known for her securities law expertise, Raman is a leading advisor in the growing field of ESG. As she and Mario discuss in this podcast, it is partly because of the increasing recognition of the link between strong ESG performance and sound overall management that ESG practices are beginning to take hold in smaller non-public companies, a trend that she believes will continue.
Dans le premier épisode du balado, Patrick Essiminy invite Camille Foczeny, conseillère en santé et sécurité du travail au sein du groupe Emploi et travail de Stikeman Elliott, à faire le point sur la signification des changements, et principalement en matière de prévention, à la Loi sur la santé et la sécurité du travail introduits par le projet de loi 59, la Loi modernisant le régime de santé et sécurité du travail. Patrick et Camille discutent des impacts des amendements notamment la mise en place de programmes de prévention et de plans d'actions pour les employeurs et les entreprises du Québec, le cadre réglementaire s'appliquant au télétravail, ainsi que la mise en valeur des risques psychosociaux reliés au travail.
Richard started his journey training as a swimmer in the rainforests of British Columbia isolated from civilization. Having beat out most of his compatriots as a competitive swimmer, he went on to compete at the Olympic, PanAm and Commonwealth games as a young man. Having returned home he put his efforts into his books to gain designation as a CPA and subsequently as a tax lawyer in Montreal. In the meantime, as a retired Olympian, the Young Pound was invited by other Olympic committee elders to join and take notes for their meetings (reference “information is power” message). This was the beginning of a decades-long adventure that took him to being a senior member of the IOC – overseeing a seismic shift in how the Olympics raised funds, how it redistributed the funds and how it developed a global anti-doping strategy. We discuss creative input in fiction writing vs non-fiction writing and both their similarities and differences in the philosophy of telling story. We discuss the wisdom in giving back to those who are looking for the same help that he once received throughout his own life’s journey. And, we discuss the significance in achieving ascended status through the unity of community. A strong “memo to self”-inspired conversation. IOC: https://olympics.com/ioc/mr-richard-w-pound-q-c-ad-e COC: https://olympic.ca/board-members/richard-pound/ Stikeman Elliott: https://www.stikeman.com/en-ca/people/richard-w-pound Behind Greatness website: www.inspirenorth.com/podcast Behind Greatness IG: @behindgreatnesspodcast & @inspire_north
Nicola Shaver, managing director, innovation and knowledge, at the law firm Paul Hastings, was recently named 2020 Innovative Leader of the Year in the International Legal Technology Association’s Distinguished Peer Awards. Not only that, but the law firm where she oversees innovation initiatives was named Innovator of the Year. While a major honor for anyone in the field of law firm innovation, it is even more remarkable given that until just seven years ago, Shaver was a lawyer practicing media law in Australia with no connection to the field of law firm innovation. When she moved to Toronto for family reasons in 2014, she could find no work in her legal speciality, so took a job at Cassels Brock & Blackwell leading the firm’s innovation initiatives. She was immediately hooked. After a stint at another Toronto firm, Stikeman Elliott, as director of knowledge management, she moved to Paul Hastings in New York in 2018, where she describes herself as “Dedicated to future-proofing law firms and accelerating the pace of positive change in the legal industry.” She is also founder of Legal Innovation and Design, a global membership group for anyone driving innovation initiatives in the commercial legal space, and publisher of the blog Tower of Babel. In a year that has presented so many challenges for law firms, Shaver joins LawNext to discuss the innovation initiatives that helped her and her firm earn these awards. She also shares her career journey, her thoughts on innovation, and her perspectives on the pandemic’s impact on the legal profession. NEW: Comment on this show: Record a voice comment on your mobile phone and send it to info@lawnext.com. We are now on Patreon! Subscribe to our page to be able to access show transcripts, or to submit a question for our guests. Thank you to our leading Patreon member Allen Rodriguez and ONE400 for your support!
On this Edition of MarketRadio, a review of Canada's CASL Anti Spam Legislation five years after implementation. For marketers and Investor Relations managers there are still many questions regarding the legality of email prospecting and electronic outreach and David Elder, Senior Counsel at Stikeman-Elliott outlines the evolving Do's and Do Nots. Do it right and email campaigning can be an effective lead generator, but do it wrong and regulators may be dipping into your pocket. Deeply. https://www.stikeman.com For further information, please contact David Elder at 613-566-0532 or via email: delder@stikeman.com
Patrick Essiminy, a partner with Stikeman Elliott’s employment group discusses the employment challenges that surround the upcoming legalization of cannabis in Canada.
Stephanie Weschler, a partner with Stikeman Elliott’s employment group discusses the impact which the #MeToo movement has had on workplaces in Canada and key legal considerations for employers.
On this week’s show, we spoke with Fred Dionne, CEO @ IVEP and Founder @ DubDub. Fred was named as one of Canada's top tech lawyer and innovator; he has a computer science, legal and finance background. He is the founder and CEO of IVEP (Interactive Video and Experience Protocol), a dubdub spin-off. IVEP is building the foundation and software infrastructure for online video interactivity and real human engagement with programmable Smart Objects. It is a Web 3.0 open-source protocol that integrates the immutability and transparency characteristics of the blockchain and loyalty and trust attributes of a tokenized economy. They are essentially trying to supplant the ad based economy by a creator driven one. Prior to IVEP and dubdub, Fred founded a very successful boutique tech law firm, blue HF, which was his next step after practicing law in the areas of financing, technology, securities and mergers and acquisitions at Stikeman Elliott and at Osler in Montreal. Since being admitted to the Québec Bar in 1998, he has counselled many technology businesses of all sizes in all areas of business law. We were also joined by Mike Cohen, engineering @ Blocksense. After earning a B.Sc. in Computer Hardware Engineering, he got his hands dirty in various industries tackling systems analysis, project management, sales and customer relations. He is a well-renowned blockchain expert. My partner, Martin, also joined in the conversation. We had an amazing conversation about the nature of cryptocurrency and blockchain. We went deep into several subjects: What is the difference between blockchain, Bitcoin and ICOs How blockchain is more than just a store of value How tokens accrue value and their utility What is IVEP and how it is planning to disrupt the traditional digital advertising model If you are interested in learning more about blockchain, Bitcoin and ICOs, you must listen to this episode. Also, you should out these other podcasts for great info on blockchain Hash Power - Invest like the best Bitcoin’s true potential - Kevin Rose Let us know what you think. What types of guests would like to see on the show? What topics interest you the most? Send me your thoughts at nectar@thepnr.com Subscribe to iTunes here | Subscribe to Google Play here
Understanding that many students are currently going through the Toronto recruitment process, we will be re-launching a few relevant episodes within the next few days to help student prepare for the interviews. In this episode, Susan Pak, Director of Student Programs and Human Resources at Stikeman Elliott Toronto shares what Bay Street interviewers are looking for in candidates during summer and articling recruitment. In addition, she discusses how the interviewers make hiring decisions. Listen in to learn how you can make yourself stand out in the interview process.
In a new Legal Executive Institute podcast, we feature a discussion about career trajectories that occurred at the 2017 Women's Transformative Leadership Forum, which was held in Toronto in late-June. The podcast features Charlotte Rushton, the Managing Director for U.S. large law firms at Thomson Reuters, speaking to Shanin Lott, Managing Director for Talent and Professional Resources at the law firm of Stikeman Elliott, and a co-chair of the Women's Transformative Leadership Forum.
The Empire Club of Canada Presents: Calin Rovinescu, President and Chief Executive Officer, Air Canada With Air Canada: A World of Opportunities Calin Rovinescu was appointed President and Chief Executive Officer of Air Canada on April 1, 2009. Mr. Rovinescu is also the Chairman of the Star Alliance Chief Executive Board, CEB, the controlling body of the Alliance with each of the 27 member airlines represented by their respective CEO. He is a Member of the Board of Governors of the International Air Transport Association, IATA, and served as its Chairman from June 2014 to June 2015. From 2004 until his re joining Air Canada, Mr. Rovinescu was a Co founder and Principal of Genuity Capital Markets, an independent investment bank. Mr. Rovinescu first joined Air Canada in 2000 as Executive Vice President, Corporate Development and Strategy, where he was Chairman of, and had oversight for many of the airline's businesses including loyalty management, Aeroplan, regional carriers Jazz, and maintenance, repair and overhaul, ACTS. He also had overall responsibility for a number of corporate functions including Legal, Information and Technology, E Commerce, People, Labour, Government Affairs, Communications, Alliances and Corporate Secretariat. In addition, Mr. Rovinescu held the position of Chief Restructuring Officer during the airline's 2003 to 2004 restructuring. Prior to 2000, he was the Managing Partner of the law firm Stikeman Elliott in Montreal, where he practiced law for over 20 years in the areas of corporate finance and mergers and acquisitions, and was a member of the firm's Partnership Board and Executive Committee. Mr. Rovinescu received his LL.B from the University of Ottawa in 1980, his LL.L. from the University of Montreal in 1978, and his D.E.C. from McGill University in 1974. He is also the recipient of Honorary Doctorate of Laws degrees from each of the University of Ottawa and the University of Montreal, both awarded in 2014. Speaker: Calin Rovinescu, President and Chief Executive Officer, Air Canada *The content presented is free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.* *Views and Opinions Expressed Disclaimer: The views and opinions expressed by the speakers or panelists are those of the speakers or panelists and do not necessarily reflect or represent the official views and opinions, policy or position held by The Empire Club of Canada.*
Jay Kellerman is the managing partner at Stikeman Elliott's Toronto office. He has more than 25 years of experience as a corporate lawyer. In our conversation with him, we discussed his path to becoming a managing partner, what it means to be a managing partner, his perspective on leadership, and the importance of passion. Jay also shared invaluable advice for students and young lawyers. This is a must listen!