Iceberg Finance acquires shares of iFinance Canada

Quebec-based Iceberg Finance Inc. has acquired all shares in circulation or issued by specialty lender iFinance Canada Inc.

The acquisition has doubled the business volume of Iceberg Finance and turned it into one of the top 10 players in Canada's specialty financial services industry, according to a news release.

Headquartered in Toronto, iFinance Canada offers financing options targeting the medical field, particularly surgeries and esthetic, dental, capillary, eye care and veterinary services, according to the release.

BMO Mid-Market Mergers & Acquisitions was financial adviser to Iceberg Finance on the transaction, while McCarthy Tétrault and Raymond Chabot Grant Thornton were legal adviser and tax adviser, respectively. Raymond James Ltd. was financial adviser to iFinance Canada.