Market Insights

On May 17, 2024, mdf commerce inc. announced the completion of an arrangement agreement to be acquired by funds managed by KKR, a leading global investment firm, in an all-cash transaction with Scotiabank acting as Exclusive Financial Advisor.

Upon completion of the transaction, mdf commerce is now a privately held company.

mdf commerce’s platforms and services empower businesses around the world. Their North American eProcurement platform serves over 6,500 government agencies and more than 650,000 suppliers across Canada and the United States and provides a strong foundation to build a leading government software platform.

“Today’s announcement is a significant milestone in the long-lasting story of mdf commerce. On behalf of the entire team here at mdf, I want to express our gratitude to all of our shareholders for their support and commitment to the Company throughout this transaction and over the years. As we embark on a new chapter, we are focused on continuing our growth and adding value for our customers, partners, employees and our new shareholder across North America,” said Luc Filiatreault, President and Chief Executive Officer of mdf commerce.

This transaction reflects Scotiabank’s growing mandate in advising Technology clients across the North American corridor.


Read the full press release


for an implied EV of



Exclusive Financial Advisor


May 2024