What Roynat Equity Partners does

Roynat Equity Partners is the private equity investment division of Roynat Capital, itself a wholly-owned subsidiary of The Bank of Nova Scotia (Scotiabank) since 1994. Founded in 1962 and headquartered in Calgary, the firm provides growth capital, buyout financing, succession-planning equity, and co-investment capital to Canadian mid-market private companies, typically those with $10M–$100M+ in revenue. It operates as part of Scotiabank's commercial banking ecosystem, leveraging bank relationships for deal origination while partnering with management teams, independent PE sponsors (e.g., SeaFort Capital, PFM Capital), and strategic acquirers.

The firm's product suite spans direct equity investments, mezzanine and subordinated debt, first-lien asset-based lending, cash-flow debt, and a Fund of Funds program managed from Ottawa. Roynat Equity Partners deploys capital as both lead and co-investor, takes minority or majority equity stakes, and supports use cases including management buyouts, founder/succession transitions, add-on acquisitions, market consolidation, and recapitalizations. Portfolio investments span verticals such as building products, agriculture, glass manufacturing, veterinary pharmacy, medical spas, digital mental-health platforms, and specialized machining.

Commercially, Roynat generates returns through capital appreciation, dividends, and exits (e.g., All-Fab Group sold to RONA Inc. in January 2025), with portfolio management carried out by approximately 20 investment professionals across offices in Toronto, Calgary, Montreal, Winnipeg, Edmonton, Ottawa, and Vancouver. The combined Roynat entity has 200+ employees and the parent division manages over $6 billion in loans and financial products across more than 1,300 clients across Canada. The firm is led by Managing Director and Head Mark Brodkin, who took leadership in 2018.

Name

Roynat Equity Partners

Legal name

Roynat Capital, a division of The Bank of Nova Scotia

Website

https://roynat.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

51–100 employees

Short description

Roynat Equity Partners is the private equity arm of Scotiabank-owned Roynat Capital, providing growth capital, buyouts, and co-investment equity to Canadian mid-market private companies across multiple verticals, supported by Scotiabank's distribution and capital base.

Ownership category

akta.pro rank

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Equity Investment Returns: Roynat Equity Partners generates returns through direct equity investments in Canadian mid-market companies. The firm takes equity stakes alongside co-investors and generates returns through capital appreciation, dividends, and exit events.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Roynat Equity Partners is the private equity investment arm of Roynat Capital (a Scotiabank division) that makes direct equity investments in Canadian mid-market private companies, including buyouts, growth capital, succession planning, management buyouts, and co-investments alongside PE sponsors. It complements this with structured debt products (first lien asset-based debt, cash flow debt, and subordinated/mezzanine financing), and operates within the broader Roynat Capital suite that includes business lending and technology & innovation banking services.

Product overview

Roynat Capital, including Roynat Equity Partners, operates as Scotiabank's mid-market financing division offering an integrated suite of financial products. The portfolio includes Business Lending (traditional credit facilities), Roynat Equity Partners (equity investment and co-investment capabilities), and Technology & Innovation Banking (specialized services for tech companies). Financing solutions span first lien asset-based debt, cash flow debt, subordinated/mezzanine debt, and equity capital. These products are designed to work together throughout the business growth lifecycle—from growth financing and asset acquisition to buyouts and succession planning.

Differentiator

Problem solved

Functional benefit

Products and services

• Roynat Equity Partners Equity investment arm of Roynat Capital providing direct equity capital, growth capital, buyout financing, succession financing, and co-investment opportunities for Canadian mid-market private businesses.
• First Lien Debt Secured by Assets Asset-based lending product for companies with significant tangible assets, providing customized loan terms for asset purchases, acquisition financing, expansion projects, succession planning, refinancing, or balance sheet recapitalization.
• Cash Flow Debt Loans underwritten against historical business revenue to meet future capital needs, used for working capital financing, hiring sales representatives, product development, or temporary cash shortfalls.
• Subordinated Debt and Mezzanine Financing Unsecured borrowing available without tangible collateral, providing customized financial structures for management buyouts, mergers and acquisitions, growth programs, succession planning, and capital needs where tangible security is unavailable.
• Business Lending Traditional business lending services providing credit facilities and loan products to Canadian mid-market companies through Roynat Capital.
• Technology & Innovation Banking Specialized banking and advisory services for technology companies and innovative businesses, offering financing solutions tailored to the tech sector.

Quantifiable outcome

• 60-year track record supporting Canadian businesses since 1962
• +1 more outcomes

Named customers8 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• MaRS Discovery DistrictminorStrategic or Co-development PartnerScotiabank partnership with MaRS focused on research, financing and education to support the growing Canadian entrepreneur community. Roynat participates in joint webinars and ecosystem events.
• C100minorStrategic or Co-development PartnerScotiabank partnership with C100 to support promising technology startups. Roynat participates in this technology ecosystem initiative.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Onex Corporation: One of Canada's largest publicly listed private equity firms, focused on mid-to-large cap buyouts across North America. Comparable as a major Canadian-headquartered PE firm but operates at significantly larger scale and broader geography than Roynat Equity Partners.

Direct peers

• BDC Capital: Investment arm of the Business Development Bank of Canada, providing growth capital, PE, and VC to Canadian mid-market businesses across multiple sectors and stages. Directly comparable to Roynat on Canadian mid-market focus, broad sector coverage, and equity investment approach.
• Novacap: One of Canada's largest independent mid-market PE firms with offices in Montreal, Toronto, and New York, investing across business services, healthcare, specialty manufacturing, and digital media. Comparable to Roynat on mid-market Canadian focus, co-investment partnerships, and diversified sector approach.
• Clairvest Group: Toronto-based publicly listed Canadian mid-market PE firm focused on equity capital for management buyouts and growth initiatives. Comparable to Roynat Equity Partners in mid-market Canadian focus, equity-check orientation, and long-term partnership approach with management teams.
• Northleaf Capital Partners: Toronto-based private equity, private credit, and infrastructure fund manager with significant Canadian mid-market activity including fund-of-funds and direct investment capabilities. Comparable to Roynat on Canadian mid-market focus, diversified investment strategies, and presence across PE and credit.
• Birch Hill Equity Partners: Canadian mid-market private equity firm headquartered in Toronto, focused on management buyouts and growth investments in North American businesses. Directly comparable to Roynat Equity Partners in target segment (Canadian mid-market), transaction type (buyouts, growth), and check size.
• CAI Capital Partners: Canadian mid-market private equity firm focused on buyouts, recapitalizations, and growth capital in mid-sized Canadian companies. Directly comparable to Roynat in target market (Canadian mid-market), transaction structure (buyouts/recaps), and equity check size.
• Walter Group / Western Pacific Financial Group: Canadian-based investment firm with private equity activities in mid-market Western Canadian companies. Comparable to Roynat Equity Partners on Canadian mid-market focus, particularly Western Canada, and growth/buyout transaction structures.
• Persistence Capital Partners: Canadian mid-market private equity firm focused exclusively on the healthcare and life sciences sector. Comparable to Roynat on Canadian mid-market PE positioning, partnership structures, and equity investment approach, though specialized in healthcare verticals.
• RBC Capital Partners: Private equity arm of Royal Bank of Canada, providing equity and mezzanine capital to mid-market Canadian and North American companies. Highly comparable to Roynat Equity Partners due to parallel bank-affiliated structure, mid-market focus, and integrated debt-equity offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/scotiabank
• LinkedInlinkedin.com/company/scotiabank

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments15 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Roynat Equity Partners