In the eye of Quebec Inc.: a young techno company swallowed up by foreigners

In this column, we provide an overview of insider transactions and investments in Quebec companies.

BrainBox AI is sold to Trane

The young Montreal company BrainBox AI, which markets automated building management solutions, has accepted a purchase offer from the American-Irish giant Trane Technologies. Founded in 2017, BrainBox is currently present in approximately 15,000 buildings. “But there are five billion buildings in the world and the needle starts moving when you reach 100 million buildings. We would never have been able to get there alone, even with all the funding in the world,” says Jean-Simon Venne, co-founder of BrainBox AI. Quebec and Ottawa, which had invested around $20 million in the company, were reimbursed “with an interesting profit,” assures Mr. Venne.

Nice gains at the National Bank

The head of finance of the National Bank, Marie Chantal Gingras, made a profit of nearly $840,000 by exercising stock options in the Montreal institution at the end of December. For her part, the vice-president of employee experience, Brigitte Hébert, collected more than $580,000 with options. National Bank shares have gained more than 30% over the past 52 weeks.

A big dividend for the Fund

American battery manufacturer Clarios will borrow US$4.5 billion (CA$6.5 billion) to pay a dividend to its shareholders. Among these are the Caisse de dépôt, which owns 30% of Clarios, and the Toronto giant Brookfield, whose stake amounts to 28%. According to Bloomberg, the dividend that Clarios will pay thanks to this loan will be one of the largest of its kind.

Power (already) returns to hockey

Less than three weeks after selling its 43% stake in the parent company of the American Bauer for $468 million, Power Corporation has acquired minority interests in its great Quebec rival, CCM, for a sum that has not not been made public. The transaction was carried out through Northleaf Capital, which Power owns 70%. Northleaf invested in CCM alongside Swedish firm Altor, which took a majority stake in the hockey equipment maker.

Healthybud raises $1.5 million

The Quebec start-up Healthybud raised $1.5 million as part of a financing round led by the Ministry of the Economy in which two American entrepreneurs in the pet food sector also participated. Founded in 2020, Healthybud sells freeze-dried raw meals and treats for dogs. Its products are sold in more than 1,000 stores in North America.

He buys TFI

A director of TFI International, the American William England, purchased nearly $1 million worth of shares in the Quebec trucking company at the end of last month. A former partner at accounting firm PwC, Mr. England has served on TFI’s board of directors since 2020. The company’s stock has lost more than 10% over the past four weeks.