Financial services provider Macquarie Group has arranged to acquire Canadian investment dealer Blackmont Capital for C93.3 million ($95.3 million).
Headquartered in Toronto, Blackmont has retail branches in 13 locations, and around 450 employees, including over 130 financial advisers.
The firm also operates a capital markets division which provides institutional and corporate clients with advisory, equity research sales and trading services.
Macquarie’s global head of banking and financial services, Peter Maher, said Macquarie had been involved in the Canadian financial market for over 12 years.
“We think there’s a real opportunity in [Canada] for a differentiated, independent client offering,” he said.