In the eye of Quebec inc.: Louis Vachon buys MDA

In the eye of Quebec inc.: Louis Vachon buys MDA

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

He invests nearly $700,000

The former CEO of the National Bank, Louis Vachon, bought for just over $688,000 shares of the Ontario aerospace company MDA during the second half of August. Director of MDA since May, Mr. Vachon was at the head of the largest Quebec bank from 2007 to 2021. The title of MDA, a company with a strong presence in Quebec, has fallen by more than 55% since its return to the stock market, in April 2021.

Kaloom raises $27.4M

The young shoot Kaloom has closed a financing of 21 million US $ (27.4 million $ CA) made in equal parts with the Ministry of the Economy of Quebec and the Montreal firm Alternative Capital. Founded in 2014 by Laurent Marchand, Kaloom develops software for the telecommunications sector. The company recently entered Japan.

Intact executive sells

The chief financial officer of insurer Intact, Louis Marcotte, sold nearly $780,000 worth of shares in his employer at the end of August. Mr. Marcotte has been with Intact for 16 years and has been in his current role since 2013. He currently lives in England. Intact shares have gained more than 20% on the stock market since the start of the year.

Panache raises $100 million

The Canadian firm Panache Ventures raised $100 million from, among others, Investissement Québec, BMO, Telus, the Ontario Capital Growth Corporation and the Alberta Enterprise Corporation. This sum will allow Panache to launch its second pre-seed and seed fund. Launched in 2018, Panache's first fund raised $58 million and invested in 100 companies. 

Westgroupe goes… to the West

The Quebec manufacturer and distributor Westgroupe eyewear, founded in 1961 by Rodney Adam Suliteanu, has accepted an offer to buy from FYihealth Group of Calgary. The value of the transaction was not disclosed. The Alberta company already owns the Quebec chains Grimard Optique, Visique and Bonlook. FYihealth has more than 300 eye care and aesthetic care clinics in Canada.

FTEX raises $1.8 million

Montreal start-up FTEX has just raised close to $1.8 million as part of a financing round led by Blue Vision Capital, a new investment firm into which Quebec has injected nearly $17 million. FTEX develops connected transmission systems for bicycles, scooters and electric mopeds.