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ARTICLE · 07 APRIL 2025

Canadian Infrastructure And Energy M&A Outlook

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This article shares important data points from recent Canadian infrastructure and energy M&A activity, highlighting trends that are expected to shape the deal environment for the remainder of the year.

CanadaEnergy and Natural Resources
Huw Evans
Huw Evans
Krista Hill
Krista Hill
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Infrastructure and energy assets remain top of mind for buyers and sellers at the outset of 2025. There is growing demand for infrastructure and energy projects to meet rising energy needs, pointing to continued M&A opportunities within this space.

This article shares important data points from recent Canadian infrastructure and energy M&A activity, highlighting trends that are expected to shape the deal environment for the remainder of the year.

Sizing up Canadian infrastructure and energy M&A

M&A activity in the Canadian infrastructure and energy projects space remains strong, with 39 deals in 2024 (see Figure 1), reflecting consistent activity levels with high transaction values. This trend is expected to continue in 2025, with nine deals completed in the first two months of the year. If this pace continues, 2025 is projected to see approximately 54 transactions and $22B in deal value (based on annualized figures). While the deal value might be slightly

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