SME universe | Leave finance… for the love of bread!

After five years working in the finance field, Jordan Di Corpo left his job to devote himself full time to looking for a business to take over. It's done: aged only 29, he has just taken the reins of the chain of artisanal bakeries L'Amour du Pain.

“It was while working in the investment field that I realized the extent of the takeover opportunities in Quebec. There is a big lack of buyers for companies that will be for sale in the next five or ten years, or which are even for sale at the moment,” he explains.

Indeed, a recent report from the Quebec Business Transfer Center highlights that in 2024, intentions to sell and transfer private businesses over the next 12 months have almost doubled since 2017. If the trend continues, we could observe around 50,000 business transfers over the next five years.

You don't need to be in the family or even in the field to be interested in it. Jordan Di Corpo took a leap of faith by leaving a well-paying job at private equity firm Snowdon Partners, and spent eight months researching various companies to find one he would want to take over.

The turning point came when he was introduced to businesswoman Evelyn Trempe, who was then the owner of L'Amour du Pain. The flow went well, and last September, the sale was concluded.

The entrepreneur thus became president and owner of the bakery, of which Evelyn Trempe is still a minority shareholder. Annie Lemieux, president of LSR GesDev, is also a minority shareholder.

Maintain a winning recipe

For Jordan Di Corpo, a finance graduate from HEC Montréal, entrepreneurship allows you to experience the excitement of running a business, while avoiding the risks associated with creating a completely new business.

He doesn't have to invent a new concept, but he finds himself with the responsibility of protecting 70 jobs and the sustainability of a brand that has existed for 25 years.

L'Amour du Pain has four branches in Greater Montreal (Boucherville, Brossard, Griffintown and in the Old Port). Its bread is made artisanally, by hand, with 100% Quebec flours. Its products are also sold in some 75 grocery stores and cafes.

“When I returned, the bakers were clear with me: if I planned to automate the production line, they no longer wanted to work here. They are passionate about what they do, want to preserve the artisanal process. I was surprised, but it was the best surprise that could happen, people passionate about quality, who wanted to challenge me », says the entrepreneur.

That doesn't mean he won't bring something new to the company. In an ideal world, in five years, L'Amour du pain would have around ten branches, he hopes – but the manufacturing process would still be artisanal.

Jordan Di Corpo would thus continue the expansion work led by Evelyn Trempe, who bought L'Amour du Pain 10 years ago when the bakery only had one branch in Boucherville.

The entrepreneur highlights the importance of mentoring during a takeover process. “The sale doesn’t have to happen 100% at once. You can sell a part to the buyer, bring him into the company, then as he moves up the ladder, he buys more and more shares. “It’s a more realistic way for entrepreneurs and buyers to sell a business, because it’s less scary for everyone — including employees,” he believes.

He admits: coming from the world of finance helped him put together his financing request to raise funds. But he encourages Quebecers tempted by entrepreneurship to take an interest in government programs offering funds and support for this type of process.

Players flock to Espace Pickleball

A 44,000 square foot (4,088 square meter) pickleball complex that opened last Monday in Quebec City quickly began to find its audience. In less than a minute, the 100 Elite subscriptions were sold at a cost of $1,200, the co-founders of Espace Pickleball announced in a press release. The location has thirteen indoor courts and four outdoor courts, in addition to an equipment store, a gym, a juice bar and event rooms. It required an investment of 8 million.

Merger in consulting engineering

As of 1^is February, the consulting engineering firms YRH and Pinargon will join forces and continue their activities under the name YRH, known in the field since 1967. Located respectively in Montreal and Laval, the two companies specialize in telecommunications infrastructure and wireless communications. “Together, we will be able to offer our customers an even more integrated and innovative range of services, based on our respective specializations in telecommunications,” underlines Maurice Beauséjour, president of YRH, in a press release.

More cement-free concrete for Patio Drummond

Landscaping manufacturer Patio Drummond has installed new equipment in its Drummondville factory to produce more cement-free concrete elements, continuing its work with patented technology from Montreal company CarbiCrete. This makes it possible to replace the cement usually contained in concrete with a by-product of steel manufacturing, which reduces its environmental impact. “This additional capacity will help Patio Drummond set the standard for sustainable construction in Quebec and Canada,” said Philippe Girardin, co-owner of Patio Drummond, in a press release.

73 %

This is the proportion of Quebec SMEs who declared that sales from local purchasing are essential to the profitability of their business during a survey conducted by the Canadian Federation of Independent Business (CFIB). These companies also seem to fear a lack of interest among the population in this issue: 52% believe that consumers will not prioritize local purchasing during the holiday season. The CFIB wants to use the results of this survey to encourage the population to buy their last Christmas gifts from local businesses.