Toronto is Canada's largest business market and one of the most active M&A environments in North America. Whether you own a security company, a manufacturing business, an HVAC contractor, or a professional services firm, there are qualified buyers actively looking for businesses like yours. This guide, prepared by the CMBB team, is designed to help Toronto business owners understand the sale process and achieve a fair exit.
The Toronto Business Sale Market
Toronto's M&A market is driven by a combination of demographic factors — a large cohort of baby boomer business owners approaching retirement — and strong demand from both domestic and international buyers. The city's diverse economy, strong professional services sector, and proximity to the US market make Toronto businesses attractive to a wide range of acquirers. Security, HVAC, manufacturing, and distribution businesses in the Greater Toronto Area are particularly sought after by direct buyers and private equity firms.
How Toronto Businesses Are Valued
Toronto businesses are typically valued on an earnings basis, with the applicable multiple determined by the sector, the quality of the revenue, and the strength of the management team. Security businesses in Toronto may also be valued on an RMR multiple for their monitoring revenue component. CMBB conducts transparent, justified valuations and presents a clear offer with full methodology disclosed. We do not use the due diligence process as a tool to reduce the purchase price after a letter of intent is signed.
Private Equity Activity in Toronto
Toronto has a significant private equity community, with dozens of PE firms actively acquiring businesses in the security, HVAC, manufacturing, and service sectors. While PE buyers can offer competitive valuations, they come with a defined exit horizon and a financial engineering agenda that may not align with the seller's desire to protect their legacy and their employees. Direct buyers like CMBB offer a different proposition: straightforward cash consideration, no exit horizon, and a genuine commitment to operating and growing the business for the long term.
CMBB in Toronto
CMBB, founded by Leonardo Obodoeke and guided by advisor Darie Urbanky — former President and COO of CI Financial Corp. — is based in Ontario and has deep roots in the Toronto business community. Our most recent acquisition — Turnstile Security Systems Inc. — is a Toronto-area security company that we acquired in 2024. We are actively looking for additional acquisition opportunities in Toronto and the Greater Toronto Area across the security, HVAC, manufacturing, and service sectors.
If you own a business in Toronto and are considering your exit options, CMBB would welcome a confidential conversation.
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