Each week we provide an overview of insider trading, investing in local businesses and news from public companies.
You earn over $1 million in profits
Karim Donner, the big boss of the BRP marine group, made an $800,000 profit last week exercising stock options at the Valcourt firm. For his part, BRP’s Chief Technology Officer, Thomas Uhr, raked in a profit of nearly $220,000 the same way. BRP’s stock is up about 5% over the past year and more than 100% over the past five years.
From Hydro Quebec to Girardin
Sébastien Fournier was released from Hydro-Québec in October and recovered quickly. He has just been appointed president of Girardin’s energy division in Drummondville. This company specializes in charging infrastructure for electric vehicles. At Hydro, Mr. Fournier ran Hilo, the energy efficiency subsidiary, which has had mixed results to date.
Desjardins invests in Cegerco
Saguenay-based construction and engineering firm Cegerco announced this week that it has welcomed Desjardins Capital as a minority shareholder. The investment, which has not been publicly quantified, is intended to allow Cegerco founder Jeannot Harvey to gradually sell the company to executives. Cegerco employs over 300 people in Saguenay and Montreal.
eStruxture raises $170 million
Data center operator eStruxture received a $170 million loan from four financial institutions, including the National Bank. Founded in 2017 by American Todd Coleman, eStruxture is officially based in Montreal, but most of its executives live outside of Quebec. The company’s shareholders are Caisse de depot et placement, Toronto-based firm Fengate Asset Management and Montreal businessman Jonathan Wener.
Earnings for Osisko executives
Michael Spencer, one of the chief executives of Osisko Gold Royalties, made a profit of just over $200,000 this week by exercising options on the Montreal-based company. Mr. Spencer heads Osisko’s Bermuda subsidiary. For his part, the vice president of project evaluation, Guy Desharnais, received nearly $50,000 in the same way.
Namakor acquires Clôtures Frontenac
Florida investment firm Namakor Holdings recently acquired Terrebonne-based Clôtures Frontenac for an undisclosed sum. Founded in 1998 by Ginette Mercier and Gérald Lemay, the company serves the residential, commercial and institutional markets. Namakor has been managed by Patrick Dussault and Stéphane Huot since 2015.
Aya raises $80 million
Montreal mining company Aya Or et Argent raised $80 million through a stock offering led by Desjardins and Toronto firm Eight Capital. Led by veteran Benoit La Salle since 2020, Aya operates the Zgounder silver mine in Morocco.