In this bi-weekly column, we provide an overview of insider transactions and investments in Quebec companies.
Boyko and Pathy are reinvesting more than $1 million into the company
Stingray CEO Eric Boyko bought more than $530,000 worth of shares in the Montreal-based multimedia content company just over two weeks ago. Stingray CEO Mark Pathy reinvested more than $580,000 in the company last week. Stingray shares are up about 6% year-to-date.
Bombardier CEO buys
Éric Martel archive photo, Martin Alarie
Éric Martel, Bombardier’s big boss, bought nearly $520,000 worth of Bombardier shares last week. He now owns $3.1 million. For his part, the CEO of the multinational, Pierre Beaudoin, made a profit of almost $275,000 just over two weeks ago by exercising the company’s stock options. Bombardier shares have fallen about 25% since their recent peak of $74 reached in April.
A hotel changes hands
The Hôtel Montfort in Nicolet Photo provided by Hôtel Montfort
The company QuatreL, owned by Zhi Liang and Shu Ping Li from Candiac, has just acquired the Hôtel Montfort in Nicolet for an undisclosed amount. The facility is located in the former monastery of the Fathers of Montfortain and was inaugurated in 2012. Last year, QuatreL acquired Auberge Godefroy in Bécancour.
A social economic transaction
A plant from Busy Bees. Photo from Busy Bees website
The National Bank granted the AFFI group in Boucherville a so-called “Social Mission” loan for the first time. The financing, which also included Investissement Québec, enabled the company to acquire Abeilles Busy Bees, a Montreal packaging company. AFFI was founded in 1971 and presents itself as one of the largest social economy companies in Quebec. The vast majority of the approximately 700 employees have a disability.
Americans buy an SME from Longueuil
The LRBG factory in Longueuil. Photo from LRBG Chimie website
Bakelite Synthetics of Atlanta, Georgia, announced this week that it has acquired LRBG Chimie, a Longueuil-based resin manufacturer founded in 1937. LRBG was formerly a subsidiary of Tembec, then of the American group Rayonier AM, and has been part of its management team since 2018.
He buys Coveo
Brandon Nussey photo from LinkedIn
Since May, Coveo Chief Financial Officer Brandon Nussey, a native of Ontario, purchased $200,000 worth of shares in the Quebec company just over two weeks ago. Thanks to the enthusiasm for artificial intelligence, Coveo shares have risen around 40% since the beginning of 2023. However, it is still significantly below the value it had when it went public in autumn 2021.
Plus Company makes an acquisition
The Cossette advertising agency’s parent company, Plus Compagnie, recently acquired Munvo, a Montreal company specializing in “marketing technologies.” Munvo employs around a hundred people in Quebec, the United States and Africa.