Recent insider transactions and investments in Quebec reveal significant movements, including Trane Technologies’ acquisition of BrainBox AI, National Bank executives profiting from stock options, and Caisse de dépôt benefiting from Clarios’ substantial dividend. Additionally, Power Corporation is expanding its investment in CCM, while Healthybud secured $1.5 million in funding for its pet food products. TFI International’s director, William England, invested nearly $1 million in the company despite a recent stock decline.
Insights into Insider Transactions and Investments in Quebec
This column sheds light on recent insider transactions and investment activities involving companies in Quebec.
Trane Technologies Acquires BrainBox AI
Montreal-based BrainBox AI, a rising star in automated building management solutions, has accepted an acquisition offer from the multinational corporation Trane Technologies, which is based in both the U.S. and Ireland. Established in 2017, BrainBox AI currently operates in approximately 15,000 buildings. Co-founder Jean-Simon Venne remarked, “With five billion buildings globally, significant progress occurs when we reach 100 million. Achieving that milestone independently would have been impossible, even with unlimited funding.” The governments of Quebec and Ottawa, having invested around $20 million in the company, are set to receive reimbursement with a notable profit, according to Venne.
National Bank Executives Reap Rewards
Marie Chantal Gingras, the Chief Financial Officer of National Bank, realized a profit close to $840,000 by exercising stock options at the end of December. Meanwhile, Brigitte Hébert, the Vice President of Employee Experience, also enjoyed substantial gains exceeding $580,000 through her options. National Bank’s stock has surged more than 30% in value over the past year, contributing to these impressive returns for its executives.
Caisse de dépôt to Benefit from Clarios’ Major Dividend
Clarios, an American battery manufacturer, is poised to secure $4.5 billion (CAD 6.5 billion) through a loan to distribute dividends to its shareholders, including the Caisse de dépôt, which owns a 30% stake in the company, and Brookfield, which holds 28%. According to Bloomberg, this dividend payout will be among the largest of its kind in the industry.
Power Corporation Expands Investment in CCM
Power Corporation, shortly after selling its 43% stake in American Bauer for $468 million, has decided to invest in its Quebec competitor, CCM, through minority interests. The transaction was facilitated via Northleaf Capital, in which Power has a 70% stake. Northleaf collaborated with the Swedish investment firm Altor, which acquired a majority stake in the hockey equipment manufacturer.
Healthybud Secures $1.5 Million in Funding
Healthybud, a Quebec startup specializing in freeze-dried raw meals and treats for dogs, has successfully raised $1.5 million in a funding round led by the Ministry of Economy, along with participation from two American entrepreneurs in the pet food industry. Launched in 2020, Healthybud’s products are now available in over 1,000 retail outlets across North America.
TFI International Director Invests in Company Shares
William England, a director at TFI International and a former partner at PwC, invested nearly $1 million in shares of the Quebec trucking firm at the end of last month. England has been a member of TFI’s board since 2020. However, it’s worth noting that the company’s stock has experienced a decline of more than 10% over the past month.