20 Jul 2022
BMO Financial to acquire Radicle Group
On July 20, 2022, BMO Financial Group announced its decision to acquire Radicle Group Inc., a Calgary-based firm renowned for its sustainability advisory services, emissions measurement, and management powered by technology. Though the financial details of the transaction weren't disclosed, the acquisition awaits regulatory approval with expectations to conclude by the end of 2022. Founded in 2008, Radicle boasts a leading role in carbon offset development, housing 130 employees and serving over 4,000 global clients. Dan Barclay, CEO of BMO Capital Markets, emphasized that the acquisition aligns with BMO's climate goals, positioning them at the forefront of the carbon credit and environmental commodity sectors. After the acquisition's completion, Radicle's workforce will integrate with BMO Capital Markets' Global Markets group. Radicle's CEO, Saj Shapiro, expressed enthusiasm about the merger, emphasizing its potential to amplify emissions reduction efforts and expand sustainability services. The acquisition underscores the growing importance of carbon markets in mitigating climate change effects. BMO Capital Markets sought financial advisement from BMO Capital Markets and legal counsel from Torys LLP. Conversely, Radicle was financially advised by Citi and legally represented by Borden Ladner Gervais LLP.
