Former “dragons” Kevin O’Leary and Brett Wilson will be working together again if a proposed agreement between two Canadian asset-management firms gains approval.

Montreal-based O’Leary Funds Management LP announced on Thursday an agreement with Calgary-based Canoe Financial LP that would combine the mutual fund and closed-end fund businesses of both managers under the Canoe banner.

The proposed deal would boost Canoe’s portfolio assets to almost $4 billion across equity and fixed income strategies.

The transaction is expected to close within 90 days, subject to regulatory and unitholder approval as well as other customary closing conditions. Financial terms were not disclosed.

Kevin O’Leary will become vice chairman of Canoe and Connor O’Brien will remain CEO of Montreal-based Stanton Asset Management Inc. (retained as portfolio sub-advisor of selected strategies for Canoe).

“Canoe is an excellent strategic partner,” says O’Leary in a statement, “because they are independent and advisor-focused, with a similar investment philosophy and excellent performance across their group of funds. I look forward to working again with Brett Wilson and investing alongside Brett and over 50,000 Canadians in our group of investment funds.”

Wilson, chairman of Canoe Financial worked with O’Leary when the two were panelists on three seasons of the Canadian reality television show Dragons’ Den.

“We share the vision of developing a leading Canadian independent fund manager focused on performance and enabling Canadian investors to achieve their financial goals,” O’Leary adds.

“This combination provides scale that we expect will benefit advisors and investors, and brings together an excellent selection of fixed-income and equity strategies, as well as energy expertise,” says O’Brien in a statement.

“We are pleased that Stanton was retained to manage selected strategies and has an opportunity to participate as partner with Canoe in the expanded business,” he adds. “We look forward to meeting with advisors and presenting the expanded set of excellent investment funds.”