Acquisitions Outside Quebec
Desjardins and Lü have made some major moves since the end of 2022 with acquisitions outside the province. At the end of November, Desjardins acquired the wealth management operations of Guardian Capital Group, a financial service provider from Toronto whose shares are listed on the Toronto Stock Exchange. This transaction, valued at $750 million, gives Desjardins access to a network of 5,000 independent advisors across Canada in the insurance and financial advice markets.
After launching an interactive learning system using physical activity for elementary schools back in 2017, Lü and its Belgium partner Megaform just acquired the French firm Marbotic. Marbotic, who also offers an interactive learning system, has sold over 115,000 games across 52 countries, and its app has reached over 5 million downloads in total.
Public Investments
Beauce company Pomerleau received some excellent news at the end of 2022: the Caisse de dépôt et placement du Québec invested $150 million in the company as Pomerleau accelerates its growth in Canada and extends its activities all the way to British Columbia. This investment was key in Pomerleau’s recent acquisition of a leading residential construction company in Vancouver, ITC Construction Group.
The life sciences sector also had great news to share. At the end of January, the Fonds de recherche du Québec announced $500,000 in financial support annually over three years for VITAM, the Capitale-Nationale’s CIUSSS’s research centre for sustainable health, affiliated with Université Laval and the Université du Québec à Chicoutimi’s Centre intersectionnel en santé durable (CISD), for the creation of a research chair in sustainable health. This new research chair will aim at breaking research silos and promoting collaboration between the health sector and other industries.
Growth Outside Quebec
Borders are not an issue for many businesses in the region who have continued to grow outside Quebec over the past few months. It is the case for the consulting firm Levio, which opened its first office in Mumbai, India. This is the company’s third office in an overseas market, after France and Morocco.
Still looking to expand its operations, Saint-Augustin Canada Electric, better known as Stace, recently delivered the largest urban area solar power plant in Europe, in Bordeaux. The company specializes in the development of renewable energy installations and is currently conducting around 20 solar installation projects, to which it may add a few additional sites in Quebec.
Sometimes, great opportunities can be found even without having to cross the Atlantic. Quebec charging station manufacturer Flo was chosen as an official provider under GM’s Dealer Community Charging Program. The first charging stations were recently installed in Wisconsin and Michigan, in the United States. The program intends to install up to 40,000 stations across North America.
International Recognition
Microbrasserie de Bellechasse recently distinguished itself on the international scene, although surprisingly not for its beer, but rather for the packaging of its coffee bags! The microbrewery received the “Best in Class” award, which recognizes businesses that distinguish themselves in the design of their packaging. The company competed against industry giants like Molson, Danone and Coca-Cola in the PAC Global Awards competition in New York. The packaging was made by Canadian company Rootree.
Congratulations to all these businesses and organizations that are making the greater Québec City region shine all around the world! Would you also like to bring your business to new heights? Contact us now! Our team will be happy to support you and your growth.
Carl Viel
President and CEO, Québec International
