According to PwC Canada’s M&A year in review and 2023 outlook, 54 per cent of Canadian corporate leaders are not planning to delay deals in 2023 despite economic and geopolitical uncertainties.
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The report said those headwinds are also generating opportunities for the Canadian mergers and acquisitions market as last year’s activities continued to be in line with historical norms. However, this year, a reset in valuations, the availability of capital and increased competitiveness from corporates should help create openings for dealmakers, said the report.
PwCs 26th Annual Global CEO Survey illustrates that while 76 per cent of Canadian corporate leaders are pessimistic about global economic growth, 54 per cent aren’t planning to delay deals in 2023 to mitigate potential economic challenges and volatility. The survey results further show that a significant number of both global CEOs (39 per cent) and Canadian respondents (25 per cent) believe that their company will no longer be economically viable a decade from now, if they continue on their current path.
“In the Private company space, mergers and acquisitions are still robust. Buyers may find opportunities in struggling sub sectors or in the sale of non-core assets from corporates looking to refocus their strategy on core operations. For owners contemplating selling, sooner may be better than later, as the sale of a business often takes several months and we’re in a volatile market with several unknowns that may affect their business valuation,” said Christine Pouliot, Partner, Deals Private Leader, PwC Canada.
“While M&A tends to slow during periods of uncertainty, those are often the times when M&A and transformational deals become increasingly compelling. We expect the current market will provide accretive opportunities for both strategic and sponsor led M&A plays similar to what we experienced post 2008,” added Domenic Marino, National Deals Leader for PwC Canada.
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