Investment management and advisory firm Bloomridge has acquired fellow Montreal-based firm RMB Wealth Management, which was established more than 20 years ago. In a press release, Bloomridge said the combination “brings together RMB’s established client relationships with Bloomridge’s investment and governance approach.” Terms of the deal were not disclosed, but former RMB president Robert Bastarache has joined Bloomridge as a partner and portfolio manager.
“Reflecting our commitment to providing clients with top-quality support, this integration reinforces continuity in our institutional approach based on transparency and service,” Bloomridge CEO Nicholas Lebuis said.
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Royal Bank of Canada has acquired Pinch Financial, a fintech that offers a digital mortgage qualification platform. Terms of the deal were not disclosed. Founded in 2016, Pinch allows Canadian consumers to qualify for mortgages across multiple financial institutions online.
“This acquisition helps us deliver on our commitment to bring the best solutions to clients on their path to home ownership,” said Janet Boyle, senior vice-president, Home Equity Financing, RBC, in a release. “Pinch’s technology will help us accelerate our digital roadmap to deliver a quicker, more streamlined mortgage experience for Canadians.”
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Fiera Capital Corp.’s infrastructure private debt division has completed a follow-on development capital financing for Starlight, a NextEnergy Group company focused on solar energy and complementary technologies. In an email, a Fiera spokesperson said the financing adds approximately $5 million to a $23-million credit facility Fiera provided in December 2024.
Fiera said Starlight would use the proceeds to develop its portfolio of solar projects in Alberta. Selkirk Advisory Group Inc. acted as arranger and loan agent for the transaction.
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EQB Inc. has received the green light from the Competition Bureau to acquire PC Financial. The $800-million cash-and-stock purchase from Loblaw was announced in December and is expected to close later this year. Approvals are still pending from the Office of the Superintendent of Financial Institutions and the finance minister.
The merger follows a restructuring EQB announced last fall that included plans to lay off 8% of its workforce.