In the eye of Quebec inc.: another local company sold to foreign interests

Dans l’œil du Québec inc.: another company from here sold to foreign interests


Each week, we provide an overview of insider trading, investment in local businesses and news from listed companies.

US fund swallows Mtl Cool

Private investment firm Ronin Equity Partners of New York announced last week the acquisition of Mtl Cool, a manufacturer of commercial refrigeration equipment based in Chambly. The company founded in 1997 will be merged with the Ontario group Due North, also owned by Ronin. Just over five years ago, Mtl Cool received financial support from the federal government, the BDC, Investissement Québec and Capital régional et coopératif Desjardins. Earlier this week, Le Journal revealed that sales of Quebec companies to foreign interests jumped 48% from 2018 to 2021.

A Quebecer named in Toronto

Yanick Blanchard, a former vice-president of National Bank, bought nearly $1.1 million in shares of Medical Facilities Corporation during the month of September. Mr. Blanchard has just been appointed director of the Toronto-based company, which operates surgical facilities in the United States. In the same breath, Medical Facilities announced a share buyback and the abandonment of its strategy of growth by acquisitions.

It buys GDI

The chief financial officer of GDI Building Services, Stéphane Lavigne, bought $108,000 worth of shares in the Montreal company on Tuesday. The stock of the building maintenance firm is down around 22% since the start of the year. Mr. Lavigne has been employed by GDI since 2016.

Fondaction invests in Buddha

Montreal-based Buddha Brands received an investment this week from Fondaction CSN, the value of which has not been disclosed. Founded in 2009 by Christopher Magnone and Mark Cigos, Buddha markets, among other things, coconut water and vegan protein bars.

He sells Dollarama

Huw Thomas, a Dollarama board member since 2011, sold more than $630,000 worth of shares in the Quebec retailer this week. Mr. Thomas is a former senior executive of SmartCentres and Canadian Tire.

Buyers at Alithya

Alithya's Chairman, Pierre Turcotte, bought for nearly of $188,000 in shares of the Montreal computer company this week. Mr. Turcotte is a former senior executive at CGI. Meanwhile, Alithya CEO Paul Raymond continued his shopping, bringing his total purchases of company stock last month to nearly $225,000.

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