Novacap

Novacap Investments, Inc. is a private equity and venture capital firm based in Montreal, Canada, with additional offices in Toronto and Brossard. Founded in 1981, the firm specializes in investing in mid-market companies across various sectors, including technology, media, telecommunications, software, consumer products, and healthcare. Novacap typically targets companies with revenues between $10 million and $300 million, an enterprise value between $50 million and $350 million, and a minimum EBITDA of $3 million. The firm prefers to take majority stakes and invests between $15.81 million and $150 million in each company. With $2.8 billion in assets under management, Novacap employs a unique investment approach that leverages deep operational expertise and active partnerships with entrepreneurs to foster growth and create long-term value. Its primary focus is on opportunities within North America, particularly in Quebec.

Matthew Alfieri

Vice President

Rajiv Bahl

Senior Partner

Philippe Belec

Senior Associate

Richard Bie

Associate

Stéphane Blanchet

CFO

David Brassard

Partner

Alain Bélanger

Senior Partner

Jamie Cartwright

Partner

Antoine Casimir Jr.

Principal

Kevin Chan

Senior Associate

Xavier Charbonneau

Associate

Philippe Cloutier

Executive Vice President of Finance

Michel Côté

Senior Partner

Benjamin Desmarais

Partner

Éric Desrosiers

Senior Partner

Christian Fabi

Partner

Jacques Foisy

Chairman of the Board and Managing Partner

Xavier Fortin

Senior Associate

Jean-Philippe Garant

Principal

Jonathan LaSala

Principal Vice President

Marc-Antoine Lachance

Principal, Investments

Frank Lachance

Partner

François Laflamme

Senior Partner

Marcel Larochelle

Managing Partner

Martin Lavallée

Vice President

Victor Leblanc

Associate

David Lewin

Senior Partner

Domenic Mancini

Senior Partner

Philippe Martin

Partner

Thadeus Mocarski

Senior Partner

Kasra Moozar

Principal

Samuel Nasso

Partner

Christopher O'Connor

Vice President of Investments

Mathieu Ouellet

Partner

Julie Page

Partner

Marc Paiement

Senior Partner

Jean-François Routhier

Managing Partner

Kristin Smith

Partner

Marc Tellier

Senior Partner

Ryan Thom

Principal

Francois-Frédéric Tougas

Vice President

Michel Toutant

Senior Partner

Paul Traut

Vice President

Stéphane Tremblay

Senior Partner

Pascal Tremblay

President and CEO of Novacap, Managing Partner - TMT Group

Sophie Tremblay-Sabatini

Vice President

Jonathan Valeriati

Vice President

Anastassia Volkova

Principal

Herk Yang

Associate

Past deals in Quebec

Cofomo

Private Equity Round in 2021
Cofomo is a company that specializes in information technology and business consulting services aimed at enhancing the digital transformation of organizational processes. It provides a range of services, including strategic digital planning, governance, and management consulting. Cofomo's focus is on helping businesses optimize the synergy between their permanent staff and external resources, thereby improving the management of expertise within organizations. Through its offerings, Cofomo aims to support companies in navigating the complexities of digital evolution and maximizing operational efficiency.

Globe Electric

Acquisition in 2021
Designer and manufacturer of consumer lighting and electrical products intended for major retailers across North America. The company specializes in the design, development, manufacturing and marketing of residential lighting products as well as electrical and smart home systems including electric bulbs, wall taps, power strips, string lights and smart security systems.

Logibec

Acquisition in 2020
Logibec Inc. specializes in developing and delivering software solutions tailored for healthcare facilities and social service agencies across North America. Founded in 1982 and headquartered in Montreal, the company offers a range of products designed to enhance administrative management, clinical workflows, and business intelligence. Key offerings include eClinibase for ambulatory care management, AI-driven tools to reduce patient readmissions and optimize resource management, and various applications for financial performance and scheduling in hospitals. Additionally, Logibec provides consulting, implementation, and IT project services to ensure effective system integration and training. With over 30 years of experience, Logibec is dedicated to improving health services and operational efficiencies within the healthcare sector.

Revau

Acquisition in 2020
Revau, also known as GroupAssur Inc., is a managing general agent based in Montreal, Canada. Founded in 1993, the company specializes in providing underwriting services for complex insurance policies. It serves a diverse clientele, including brokers and customers across Canada, by partnering with Canadian insurance carriers, international insurance carriers, and Lloyd's of London insurance syndicates. With additional offices in Quebec City, Brossard, and Markham, Revau is positioned to meet specialized insurance needs effectively.

Eddyfi/NDT

Acquisition in 2020
Eddyfi/NDT is a fast-growing, innovative private Test & Measurement (T&M) technology group focused on Non-Destructive Testing (NDT).

Bestar

Venture Round in 2020
Bestar is a manufacturer that specializes in designing and producing ready-to-assemble (RTA) furniture tailored to meet the specific needs of consumers. The company focuses on creating functional residential and office furnishings, including desks, tables, and storage solutions, which are crafted with contemporary consumer requirements and space considerations in mind. By combining practicality with modern design, Bestar aims to enhance both home and workplace environments.

Eddyfi

Private Equity Round in 2020
Eddyfi NDT Inc., founded in 2009 and based in Quebec, Canada, specializes in the development of inspection equipment and software for ferrous and non-ferrous materials. The company utilizes eddy current and electromagnetic techniques to provide advanced surface and tubing inspection solutions. Eddyfi Technologies encompasses various non-destructive testing (NDT) inspection technology brands, enhancing the company's capabilities and product offerings. This strategic focus aims to strengthen Eddyfi's position within the oil and gas industry by expanding its portfolio of technologies and products. Eddyfi's commitment to innovation in NDT solutions positions it as a key player in ensuring the integrity and safety of critical infrastructure.

FortNine

Private Equity Round in 2020
Online retailer of motorcycle gear and accessories intended to cater to the needs of Canadian riders. The company offers a wide range of motorcycles, dirt bikes, snowmobiles and other power sports gear and parts, ensuring motorsports enthusiasts and riders get their desired products delivered on time conveniently.

Nuvei

Private Equity Round in 2019
Nuvei Corporation is a financial services company that specializes in providing payment technology solutions to merchants and partners across North America, Europe, the Asia Pacific, and Latin America. Established in 2003 and headquartered in Montreal, Canada, Nuvei offers a comprehensive Native Commerce Platform that facilitates payment acceptance across various channels, including mobile, online, unattended, and in-store environments. The company caters to a diverse clientele, including independent sales agents, e-commerce resellers, independent software vendors, and payment facilitators. With a focus on delivering innovative payment processing solutions, Nuvei plays a significant role in supporting the operational needs of retailers and enhancing the payment experience for consumers.

Knowlton Development

Acquisition in 2018
Knowlton Development Corp. is a contract manufacturer and custom formulator for the consumer goods industry in Canada and internationally. It offers personal cleansing, body and facial care, fragrance, men’s grooming, hair care and styling, and household care products.

Noble Foods

Private Equity Round in 2018
Noble Foods is a manufacturer of nutrition and energy bars with an impeccable reputation that has been forged from many years of relentless customer service delivered directly by the three owners themselves. The most trusted brands in North-America rely on Noble Foods manufacturing expertise due to its customer responsiveness, reasonable minimum order quantities and the direct access to the owners of the company, who are so hands on in the process. The Company has over 100 dedicated employees at its plant in Montreal that are key to its success.

Mailhot Industries

Private Equity Round in 2018
Mailhot Industries, Inc. designs and manufactures hydraulic cylinders. It offers a line of rod and telescopic hydraulic cylinders, remanufactured products, and replacement parts. The company also provides repair and installation services, such as cylinder repair, installation on a dump truck, and exchange programs; and small lot production services. It serves construction, environment, mining, and snow removal industries. The company was founded in 1956 and is based in Terrebonne, Canada.

Laces Group

Acquisition in 2017
Laces Group, based in Montreal, is an innovative company that specializes in the development and distribution of home fashion products. Laces Group is a global operation with offices in the USA, Canada and China. It operates through its entities Maytex in the United States and Banyo-Decolin in Canada. With multiple warehouses in North America and an innovation center in New York, Laces creates, develops, sources and distributes home fashion products, mainly shower curtains, metal bath and window products, window curtains and slipcovers to national retailers.

Joseph Ribkoff

Acquisition in 2017
JOSEPH RIBKOFF INC is a Canadian fashion company that specializes in designing, producing, and distributing women's dresses, including collections for resort, cruise, office, formal, and eveningwear. Founded in 1957 and headquartered in Dorval, Canada, the company has established itself as a leader in the fashion industry, innovating to meet the diverse needs of modern women. With a presence in over 64 international markets, JOSEPH RIBKOFF INC has built a reputation for setting trends and creating collections that cater to busy lifestyles. The company retails its products through a network of distributors globally, maintaining a commitment to quality and style in its offerings.

Nuvei

Venture Round in 2017
Nuvei Corporation is a financial services company that specializes in providing payment technology solutions to merchants and partners across North America, Europe, the Asia Pacific, and Latin America. Established in 2003 and headquartered in Montreal, Canada, Nuvei offers a comprehensive Native Commerce Platform that facilitates payment acceptance across various channels, including mobile, online, unattended, and in-store environments. The company caters to a diverse clientele, including independent sales agents, e-commerce resellers, independent software vendors, and payment facilitators. With a focus on delivering innovative payment processing solutions, Nuvei plays a significant role in supporting the operational needs of retailers and enhancing the payment experience for consumers.

Bestar

Acquisition in 2017
Bestar is a manufacturer that specializes in designing and producing ready-to-assemble (RTA) furniture tailored to meet the specific needs of consumers. The company focuses on creating functional residential and office furnishings, including desks, tables, and storage solutions, which are crafted with contemporary consumer requirements and space considerations in mind. By combining practicality with modern design, Bestar aims to enhance both home and workplace environments.

Syntax

Acquisition in 2016
Syntax has been providing comprehensive technology solutions to businesses of all sizes throughout North America. Syntax delivers the best combination of software, infrastructure, and cloud solutions to meet the needs of its diverse range of customers. Syntax partners include Oracle, IBM and other world-class technology leaders. Founded in 1972.

Intelerad

Acquisition in 2016
Intelerad offers comprehensive medical imaging solutions tailored for radiology groups, hospitals, imaging centers, and teleradiology services. The company's platform is designed to enhance productivity and streamline workflows through advanced software that specializes in medical imaging, distributed radiology services, and workflow orchestration. By focusing on innovative technology and seamless integration, Intelerad aims to improve operational efficiency in healthcare settings, ultimately contributing to better patient care.

Nitrex Metal

Acquisition in 2015
Nitrex Metal is a global provider of integrated heat-treating solutions and technologies, specializing in metal heat treatment equipment. The company serves a diverse range of industries, including automotive, aerospace, and industrial sectors, catering to numerous blue-chip customers. Nitrex is particularly known for its expertise in gas nitriding and gas nitrocarburizing technologies, which enhance the durability and performance of metal components. By delivering advanced heat treatment processes, Nitrex enables businesses to improve operational efficiency and product reliability.

Master

Acquisition in 2014
Distributor of heating, ventilation, air conditioning, and refrigeration systems intended for the residential, commercial, and industrial sectors. The company offers geothermal systems, energy efficiency systems, air exchangers, motors, and other related parts and accessories, making easy availability of a wide selection of equipment from various brands.

The GTI Group

Acquisition in 2014
The GTI Group specializes in comprehensive logistics and transportation solutions, offering a wide range of services to meet diverse client needs. Their expertise includes overdimensional and heavy haul transportation, global freight and project cargo, as well as North American full truckload (FTL) and less-than-truckload (LTL) services. Additionally, the company provides specialized storage, handling, and shipment packaging solutions. Serving various industries, including aerospace, power, and heavy equipment, The GTI Group focuses on the safe and efficient movement of specialty products. With independent and integrated divisions, they possess the necessary resources and strategic networks to effectively manage all aspects of distribution for their clients.

Fibrenoire

Acquisition in 2013
Fibrenoire specializes exclusively in fiber optic internet connections and fiber optic private network services for companies in Quebec and Ontario. The company operates an IP NGN Carrier Ethernet network with over 3000km of fiber in Québec and Ontario. Fibrenoire also offers its clients a sales engineering approach, which guarantees quality of execution. It was founded in 2007.

Synergx Technologies

Acquisition in 2012
Synergx Technologies Inc. specializes in distributing automated optical inspection systems tailored for the glass processing industry. The company's product lineup includes SURFX, an in-process transmission surface inspection system; DIMX, an automated non-contact dimensional measurement system; CURVE, a surface and paint inspection system; and EDGE, a non-contact, inline real-time inspection system. In addition to its inspection products, Synergx provides a range of support services such as system installation and commissioning, remote troubleshooting, preventive maintenance, training, calibration, performance auditing, and site visits. The company serves various sectors, including automotive, solar, appliance, bottling, and architectural glass industries, helping clients enhance production efficiency and manage quality control. Founded in 2004, Synergx Technologies is based in Laval, Canada.

Chemical Computing Group

Acquisition in 2011
Chemical Computing Group, Inc., a software company, provides drug discovery applications to pharmaceutical, biotech, and academic researchers. It offers Molecular Operating Environment, an integrated drug discovery software package; and PSILO, a structure database and visualization system that provides consolidated repository for macromolecular and protein-ligand structural information. The company’s products and services are used by biologists, medicinal chemists, and computational chemists worldwide. Chemical Computing Group, Inc. was founded in 1994 and is based in Montreal, Canada with additional offices in North America, Germany, and the United Kingdom.

IPL Plastics

Acquisition in 2010
IPL Plastics Inc. is a prominent manufacturer of rigid plastic packaging solutions, serving various markets such as food, consumer goods, agriculture, and environmental sectors. The company operates through three key segments: Large Format Packaging and Environmental Solutions, Consumer Packaging Solutions, and Returnable Packaging Solutions. The Large Format segment produces a variety of containers, pails, and crates tailored for food, retail, and industrial applications, as well as waste collection and recycling products for municipalities and waste haulers. The Consumer Packaging segment specializes in thin-wall injection molded containers and custom packaging for both branded and private label products. The Returnable Packaging segment focuses on bulk containers used in agriculture and automotive logistics, along with reusable containers and temporary flooring solutions for diverse industries, including construction and entertainment. Founded in 1939 and headquartered in Montreal, Canada, IPL Plastics has multiple production facilities, including operations in the United States, the United Kingdom, and Ireland.

Nautilus Plus

Private Equity Round in 2008
Nautilus Plus Inc. owns and operates a network of fitness facilities in Canada. The company offers various specialized fitness and nutrition programs for weight loss and fitness. It also provides group classes on absolution, athletic circuit, boot camp, cardio buttocks and thighs, cardio dance and intervals, cardio kick boxing and toning, group cycling, pilates, piloxing, plyoga, step, toning, yoga, yoga-ball, yogalates, Zumba, Zumba toning, and Zumba Step, as well as abdominals, buttocks, and thighs. The company was founded in 1978 and is based in St-Hubert, Canada.

Stingray

Acquisition in 2007
Stingray Digital is a Montreal-based Canadian media and entertainment company that focuses on digital media, particularly in music broadcasting and distribution. The company offers a variety of services, including The Karaoke Channel, which provides licensed karaoke content, and Stingray Music, a distributor of re-recorded music. Additionally, Stingray360 delivers copyright-cleared subscription music services tailored for business environments, while Concert TV offers video-on-demand content. The Galaxie service provides digital pay TV audio programming, operated on behalf of CBC/Radio-Canada. Stingray broadcasts music and video content across multiple platforms, including radio, premium television channels, digital TV, satellite TV, IPTV, the Internet, mobile devices, and game consoles. Its primary revenue comes from broadcasting and commercial music segments, which encompass music and video broadcasts, digital signage, and subscription services.

LiquidxStream Systems

Acquisition in 2005
LiquidXstream Systems Inc. develops and manufactures edge access technology systems for broadband cable service provides. The company offers LxS-3616, a product architecture that provides service providers a way to architect the network edge.

Demers Ambulances

Acquisition in 2004
Demers Ambulances is a leading manufacturer of ambulances in North America, specializing in the design and production of emergency medical vehicles for the medical and fire industries. The company is recognized for its innovative products that meet the high standards of emergency medical specialists globally. Demers Ambulances is accredited by Transport Canada and holds the Qualified Vehicle Modifiers certification from Ford, as well as membership in the National Truck Equipment Association's Member Verification Program. The company's focus is on providing safe, reliable, and efficient emergency vehicles, aiding paramedics in their critical mission to save lives.

Octasic

Series B in 2002
Octasic is a semiconductor and technology company specializing in two key markets: - Wireless base stations - Media gateways. Octasic’s objective is to help their customers deliver winning products to market more quickly, with less investment, and lower risk. Established in 1998, Octasic is headquartered in Montreal, Canada, with R&D in Canada and India, and worldwide sales support. Over their 15-plus years of existence, Octasic has developed and maintained key partnerships with many of the leading Tier-1 telecommunications and government OEMs worldwide.

Royal Mat

Acquisition in 2002
Royal Mat, Inc. is a manufacturer specializing in recycled rubber products, primarily derived from scrap car and truck tires. Established in 1983 and headquartered in Beauceville, Canada, the company offers a diverse range of products, including ergonomic horse stall mats, dairy cow mats, mud flaps, and floor-insulating panels designed for residential, commercial, and industrial applications. Their products cater to various sectors such as dairy farming, equestrian centers, sound insulation, fitness facilities, and the transport industry. Specific applications include providing comfort and safety in dairy farms, training rings, ice rinks, and industrial workspaces. Royal Mat distributes its products through a network of distributors across Canada, England, the United States, and Europe, ensuring a broad reach in the market.

Snoc

Acquisition in 2001
Manufacturer of cast aluminum residential outdoor lighting fixtures focused on outdoor residential and commercial segments. The company offers garden lighting, mailboxes, house numbers and a host of related accessories, enabling customers to get access to standard lighting facilities at cost-effective prices.

CorActive High-Tech

Acquisition in 2001
CorActive High-Tech Inc. develops and manufactures specialty optical fiber products. The company provides active fibers for high-power amplifier and laser applications; passive fibers for components and laser beam delivery applications; original equipment manufacturer (OEM) modules and sub-assemblies, including optical modules and sub-assemblies; attenuating fibers for DWDM, CATV, and other telecom applications; photosensitive fibers for photosensitivity requirements; and infrared transmission optical fibers. It offers products for OEM customers serving the industrial laser, telecom, defense and aerospace, sensing and environmental, medical, and scientific markets. The company has a strategic partnership with INO. CorActive High-Tech Inc. was founded in 1998 and is based in Quebec, Canada. As of November 3, 2016, CorActive High-Tech Inc. operates as a subsidiary of Han's Laser Technology.

Groupe Bertec

Acquisition in 1994
Groupe Bertec Inc., founded in 1986 and based in L'Islet, Canada, specializes in the development and manufacturing of high-quality hospital beds, furniture, and various medical equipment accessories. As a subsidiary of Stryker Corporation, Groupe Bertec focuses on providing innovative solutions tailored to the needs of healthcare facilities. The company is dedicated to enhancing patient care through its product offerings, which are designed with both functionality and comfort in mind.

Maax

Acquisition in 1991
MAAX Bath Inc. designs and manufactures a comprehensive range of bathroom products tailored for the residential housing market in Canada and the United States. Founded in 1969 and based in Lachine, Canada, the company offers an array of items including bathtubs, showers, shower doors, tub showers, glass shower doors, and shower bases. MAAX serves a diverse clientele, including building professionals, designers, showroom dealers, and homeowners, aiming to meet their needs for unique style, quality, and practicality. The company adheres to rigorous standards of quality and durability while providing a variety of product shapes, sizes, styles, and price points, establishing itself as a preferred brand in the bath products sector. As of January 31, 2017, MAAX operates as a subsidiary of American Bath Group, LLC, with customer service centers and points of sale throughout North America.

Cable Axion

Acquisition in 1991
Cable Axion is a provider of digital and analog television services, as well as internet services, primarily operating in Canada. The company serves various regions in Quebec, including the Eastern Townships, Mégantic, Montérégie, Beauce, Bas-Saint-Laurent, and Lyster. With a focus on quality of service, Cable Axion aims to enhance customer experiences through its offerings in the network cable distribution industry.

Stablex Canada

Seed Round in 1986
Stablex Canada is a leading provider of hazardous waste and contaminated soil disposal and treatment services in North America, located in Blainville, Canada. The company specializes in treating and stabilizing inorganic industrial waste and contaminated soil, transforming them into a non-leachable, concrete-like material. Stablex Canada is equipped to handle challenging materials such as cyanides, mercury compounds, strong acids, lab packs, and contaminated debris, ensuring safe and effective processing of hard-to-treat waste.

RCR International

Acquisition in 1983
RCR International Inc., founded in 1946 and based in Boucherville, Canada, is a prominent manufacturer and distributor of a wide range of home improvement products. The company specializes in weather-stripping solutions, insulation components, floor protection products, and squeegees, catering to both professional contractors and do-it-yourself enthusiasts. Its product offerings include door bottoms, jambs, thresholds, insulating films, and various floor coverings such as carpets and mats. RCR also provides air hoses, gardening tools, cleaning products, and a variety of insulation wraps and sealants. With a portfolio of over 2,000 items, the company sells its products through a network of distributors and retailers across Canada and internationally, including the U.S. through its subsidiary, W.J. Dennis. RCR International is recognized for its innovative contributions to the door and window insulation market.
Security Chimneys International is a trusted manufacturer of quality chimneys and venting products, catering to both residential and commercial markets. The company specializes in a diverse range of offerings, including wood-burning fireplaces and chimneys suitable for various fuel types such as wood, oil, and gas. Their product lineup encompasses wood-burning and decorative fireplaces, as well as comprehensive venting solutions designed for industrial, institutional, and commercial applications. Situated in a 104,800 square-foot manufacturing facility in Laval, Quebec, Security Chimneys is dedicated to research and development, ensuring that all products are fully certified to meet the venting needs of its customers.
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