Top 25 M&A Transaction in Quebec
What really changed in M&A in Quebec in 2025.
And what's in store for 2026?
The deals that defined 2025 weren’t the ones we expected. They were discreet entries by foreign strategic investors, founders who sold to secure what comes next, not just cash out, and AI acquisitions driven by data, not hype.
Simon Leroux, Founder of Optionality
Evolution of ratios in Quebec in 2025
2025 marked a slowdown in the transfer market in Quebec, both in terms of the number of transactions (-11.4%) and multiples (-7.04%).
While the evolution of multiples follows a global logic (with -5.56% in Canada and -4.74% globally), the decline in transaction volume is a regional anomaly.
We also note that nearly 3/4 of Quebec business transfers were made to foreign interests in the province.
With 76% of business owners planning to sell or transfer within 10 years, there is a genuine succession issue in Quebec. But this issue also hides an opportunity for buyers.
Want to read the full report, including:
The top 25 most strategic deals
10 deals broken down and explained
6 structural levers to boost your business's value in 2026