BDC Capital has provided mezzanine financing of $6 million to Verdant Environmental Technologies Inc, a Montréal-based developer of smart thermostats for commercial and institutional buildings.
BDC made the investment through its growth and transition capital group.
Established in 2008, Verdant primarily serves the hospitality industry. CEO Alain Bélanger said the funds raised will help accelerate the company’s expansion.
Verdant is backed by Canadian mid-market private equity firm Fulcrum Capital Partners. Fulcrum acquired the business in 2016.
BDC Capital provides $6 million in financing to Verdant Environmental Technologies
Montreal, January 10, 2019 – BDC Capital’s Growth & Transition Capital division recently provided a $6 million mezzanine financing to Verdant Environmental Technologies of Montreal to support its growth. Industry leader Verdant Environmental Technologies develops smart thermostats for commercial and institutional buildings. These thermostats represent one of the most efficient systems on today’s market, as they significantly decrease heating/cooling energy consumption.
BDC Capital has been actively providing flexible sponsored mezzanine solutions to support Canadian SMEs. “Verdant is well positioned to expand its market share with its experienced management team. They are powered by Fulcrum Capital Partners, a Canadian private equity firm with a strong track record. We are pleased to be part of their growth,” said Benoît Mignacco, Managing Director, Growth & Transition Capital, Technology.
Bernard Melameth, Director, Growth & Transition Capital – Technology, managed the transaction. “Verdant is an innovative Canadian company that has seen their sales increase dramatically in recent years, boasting major clients, primarily in the hotel industry. They offer a solution that allows hotels to reduce their energy consumption significantly and their growth perspectives are excellent,” Mr. Melameth said.
“BDC Capital’s confidence in our technology and market strategy along with their innovative financial solutions for tech companies is giving Verdant a springboard to accelerated growth,” said Alain Bélanger, CEO, Verdant Environmental technologies.
This investment by BDC Capital is evidence of its commitment to help build globally competitive Canadian cleantech companies, regardless of their stage of development
About BDC Capital
BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.
About Verdant Environmental Technologies
Montreal-based Verdant is an industry leader in commercial energy management solutions. Verdant’s energy saving thermostats and Verdant EI™ energy management service deliver significant energy savings without compromising guest comfort.
About Fulcrum Capital Partners
Fulcrum Capital Partners is an independent private equity firm focused on the Canadian middle market. Fulcrum has invested more than $750 million over the past two decades and is currently investing from its fifth private equity fund with $350 million in committed capital. Fulcrum has helped build and grow more than 45 platform companies by providing strategic, operational, financial and M&A expertise.
Media Relations, BDC Capital
Verdant Environmental technologies
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Fulcrum Capital Partners