In the eye of Quebec inc.: Fonds FTQ invests in electronic circuits

In this biweekly column, we provide an overview of insider deals and investments in Quebec companies.

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Bet another $68 million on SMT

SMT Intelligence has just received an investment of 68 million dollars from Fonds de solidarité FTQ, which becomes a minority shareholder of the Laval company. Founded in 2001 by Stéphane Deschênes, it presents itself as one of the largest manufacturers of electronic circuits in North America. Present in sectors such as defence, aeronautics, health and entertainment, SMT has more than 200 employees and produces more than 8 million circuits per year.

The Bourassas buy Savaria

Savaria CEO Marcel Bourassa and his two sons recently bought shares in the residential elevator maker. The father bought it for a little over $1 million, while Sébastien, who is the director of operations, acquired it for about $200,000, as did his brother Alexandre, who is vice president of sales of the accessibility sector. In September, the three men had also bought shares in Savaria as part of a share issue that also involved Jean-Marie Bourassa, the company’s former chief financial officer and Marcel’s brother.

Nice win for Richelieu’s CEO

Richard Lord, the big boss of Quincaillerie Richelieu, made a profit of more than $730,000 by exercising stock options at the Quebec importer, manufacturer and distributor. Mr. Lord has been at the helm of Richelieu since 1988. His stake in the company is worth nearly $180 million.

RVE raises over $7 million

Recharge Véhicule Électrique (RVE), a young company founded in 2015 by Marie-Pier and David Corbeil, has just raised $6 million as part of a funding round in which Fondaction, Investissement participated equally Québec and Export Development Canada (EDC). Added to this is a grant of almost 2 million dollars awarded earlier this year by the Quebec Ministry of Economy. RVE markets load control technologies that allow optimal management of the electrical capacity of residences when recharging vehicles.

An Air Canada buyer

Air Canada vice-president of corporate communications Christophe Hennebelle bought more than $87,000 worth of shares in the Montreal-based airline last week. In office since March 2023, Mr. Hennebelle previously worked at Transat for over 14 years. Air Canada shares lost more than 35% of their value between their all-time high in July and late October.

They invest in veterinary clinics

Quebec investors represented by Corporation Financière Champlain and Fondaction recently signed a partnership with the DMV group, which manages 34 veterinary clinics in Quebec. The investment should, above all, allow the DMV Group, founded in 1993, to expand its network.