In this bi-weekly column, we provide an overview of insider transactions and investments in Quebec companies.
Nature’s Touch acquires Sunrise Growers
Quebec company Nature’s Touch announced yesterday the acquisition of certain assets of Sunrise Growers, the frozen fruit division of the American group SunOpta, for US$141 million ($193 million). The transaction includes factories in Kansas and Mexico. Sunrise Growers had an operating profit of $15 million on revenue of $263 million last year. Nature’s Touch was founded by John Tentomas in 2004 and already had factories in Canada and the United States.
Marathon relies on Flyscan
Photo from Flyscan website
The nation’s largest oil refiner, Marathon Petroleum, recently invested an undisclosed sum in Flyscan Systems, a young Quebec company. Flyscan’s patented technology enables early detection of oil leaks through aerial inspection. Founded in 2015 thanks to the work of the National Optics Institute (INO), Flyscan also counts Ontario engineering firm Hatch and pipeline operator Enbridge among its shareholders.
He sells Couche-Tard
Réal Plourde in 2022. Photo from the University of Montreal website
Réal Plourde, one of the four founders of Alimentation Couche-Tard, sold shares in the Laval retailer for $14.7 million this week. He still has more than $870 million left. Last month, another of the company’s co-founders, Richard Fortin, sold $14.5 million worth of shares. Couche-Tard stock is up more than 20% since the start of the year.
HaiLa raises $14 million
Photo from HaiLa Technologies website
Young Montreal company HaiLa Technologies has just raised US$10.4 million (CA$14.2 million) in a financing round led by Japanese component maker Murata Electronics and also involving Quebec funds. TandemLaunch and Ecofuel. Founded in 2019, HaiLa describes itself as a “fabless” company specializing in semiconductors and software for energy-efficient radio communications.
He buys GDI
Stéphane Lavigne Photo from the GDI website
GDI Building Services chief financial officer Stéphane Lavigne bought nearly $100,000 worth of shares in the Montreal company in late September. He now owns almost $800,000. GDI stock has lost just over 10% since the start of 2023.
Two local companies sold
Louis Laflamme, President and CEO of OpSens. Photo Stevens LeBlanc
In less than a week, two Quebec technology companies have accepted purchase offers from American buyers. Last week, H2O Innovation reached an agreement with New York-based Ember, valuing the company at $395 million. The Caisse de dépôt et placement du Québec, Investissement Québec and company executives will hold a 21% stake in the company. OpSens, in turn, will pass into the hands of Haemonetics Corporation for $345 million.
Oneka raises $12.5 million
Photo from Oneka Technologies website
Sherbrooke-founded startup Oneka Technologies recently raised $12.5 million in a round that included participation from several investors, including former prime minister Paul Martin and Quebec firm AQC Capital. Founded in 2015 by Dragan Tutic, Oneka offers seawater desalination solutions using wave energy.