At Portage, we talk to buyers — a lot. Every week, we’re in conversation with private equity groups, family offices, and strategic acquirers who are looking for their next opportunity in the Canadian market.
If you’re working with business owners in your network — especially those nearing retirement or succession — it’s worth knowing which industries are getting the most attention right now. Here are the seven sectors private equity buyers are targeting, and why:
1. Healthcare Services
From dental clinics to physiotherapy, mental health to veterinary practices — healthcare is leading the pack. Demand is steady and recession-resistant, and many of these businesses are still highly fragmented. That makes them prime candidates for roll-up strategies.
2. Tech & SaaS
PE groups are hungry for Canadian SaaS companies with recurring revenue and sticky customer bases. If the tech scales and has cross-border potential, even better. The capital is there — they just need the right opportunity.
3. Business Services
These businesses might not make headlines, but they generate solid EBITDA and have long-term contracts. Think facility management, logistics, or staffing. Buyers love the “boring but essential” model — especially when it comes with predictable cash flow.
4. Niche Manufacturing
Specialized manufacturers that are exportable and consistent continue to attract buyers. We’re seeing strong interest in areas like food processing equipment, custom packaging, and precision components.
5. Food & Beverage
Consumers are shifting toward sustainable, health-focused options — and so is investor capital. Private equity groups are actively pursuing specialty brands, co-packers, and anything tied to pet food, plant-based, or premium wellness products.
6. Environmental & CleanTech
Driven by ESG mandates, impact investing, and government incentives, this space is heating up fast. Water treatment, recycling, green services, and environmental consulting are all on the radar.
7. Education & Training
With the shift to remote learning and a growing need for upskilling, vocational training and digital education platforms are gaining traction. Fragmentation in the market also makes this sector ripe for consolidation.
Time to Talk?
If you’re advising business owners in any of these sectors — accountants, lawyers, wealth advisors, or lenders — now is a good time to start the conversation about succession or liquidity.
Private equity groups are sitting on record amounts of capital. They’re looking for strong businesses, not turnarounds. That means quality companies in these industries are getting multiple offers — and good ones.
If you’d like to understand what these buyers are really looking for, or want to explore options for one of your clients, I’m always happy to chat.
Jim Friesen, MBA, CPA, CM&AA
Founder | Partner
