Deals: CDPQ invest in impact engineering firm Norda Stelo

Caisse de dépôt et placement du Québec (CDPQ) had previously supported Norda Stelo as a lender and is now strengthening its commitment as a shareholder.

“This partnership reflects our ambition to support companies that place sustainability at their core,” Kim Thomassin, executive VP at CDPQ, said in a release.

The investment will allow Norda Stelo to pursue its growth plans. The firm is still majority-held by its employee-shareholders.

Norda Stelo has secured a $28.1-million equity investment from CDPQ. The investment — its first equity offering in 60 years — will help the Quebec-based impact engineering firm expand in infrastructure, natural resources and strategic industries.

“We are honoured to count on the support of CDPQ, a partner that shares our vision of innovation and sustainability,” said Alex Brisson, president and CEO of Norda Stelo.

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Professional services firm MNP is acquiring Ottawa-based Houle and Associates Chartered Professional Accountants, effective June 1.

Houle and Associates specializes in accounting and tax services for healthcare professionals. Founder Norman Houle will join MNP as a partner along with his team.

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Montfort Capital Corp. has received regulatory approval to proceed with the sale of its mortgage lending business to Brightpath Holdings Corp., with closing expected by March 26.

“This sale marks a significant milestone in our efforts to focus Montfort’s operations on high-growth lending segments,” Montfort CEO Ken Thomson said in a release.

The buyer, which is controlled by former Montfort director Blake Albright, will assume $13 million in debt and transfer shares back to Montfort as part of the deal. Montfort has the option to repurchase additional shares within a year under certain conditions.

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