Each week we provide an overview of insider trading, investing in local businesses and news from public companies.
The Saint-Gobain group swallows Kaycan
Photo from the Home Hardware website
French giant Saint-Gobain recently announced it has acquired Quebec-based exterior trim products maker Kaycan for $1.2 billion. Founded in 1974 by the Dubrofsky family, Kaycan employs 1,300 people and has 12 factories, including nine in Canada. In Quebec, Saint-Gobain already owns a gypsum plant that recently received a US$40 million grant from Quebec. In addition, Uniboard, another Dubrofsky family company, this week announced a $250 million investment in its Val-d’Or facility, a project that has received a total of $80.5 million in government aid -dollar is received.
The FTQ fund is investing $100 million in Fiera
Montreal-based asset manager Fiera Capital last Thursday announced a $100 million loan in the form of a debenture from Fonds de solidarité FTQ. The bond bears interest at 6%. Most notably, the money will allow Fiera to redeem $86.3 million of notes next week that mature next year.
Potloc raises $35 million
Young Montreal startup Potloc just closed a funding round that allowed it to raise $35 million from Investissement Québec, Toronto-based First Ascent Ventures, Ecofuel Fund, Desjardins, BrightSpark Ventures and BDC Capital. Founded in 2014, Potloc has developed sampling technologies for conducting social media market research. The company has grown from 60 to 230 employees in the last 12 months. Her clients include in particular Lowe’s, L’Oréal and KPMG.
You buy power
Chairman of the Board of Directors of Bombardier, Pierre Beaudon, bought nearly $1 million in Power Corporation stock last week. Mr. Beaudoin has been a Director of Power since 2005. For his part, the CEO of Power, Jeffrey Orr, acquired more than $840,000 worth of stock in the Montreal conglomerate. Power’s stock is down more than 18% year-to-date.
Selling maxi metal in Oshkosh
The Beauce company Maxi-Métal recently accepted an offer from the American company Oshkosh Corporation, the value of which was not disclosed. Founded in 1983, Maxi-Métal builds fire and commercial vehicles. She was part of it Danny Dufour, who is also the company’s CEO. Oshkosh has been a business partner of Maxi-Métal for several years.
He buys GDI
Executive Vice President of GDI Building Services, Jocelyn Trottier bought over $160,000 worth of stock in the Montreal company about ten days ago. He now owns more than $840,000. GDI, which specializes in building maintenance, has fallen more than 20% since the beginning of the year.