Alithya, a Canadian provider of consulting services in information technology and organizational management, has raised $17 million in additional funding. Existing investors Capital régional et coopératif Desjardins (CRCD), Investissement Québec (IQ) and Telus Ventures participated in the deal, as did new investor iA Financial Group. Québec City-based Alithya, which reports growth of more than 400 percent over the past five years, said the funds raised will help increase its market presence in Canada and abroad. Led by President and CEO Paul Raymond, Alithya last October acquired Pro2p, a Montréal provider of business consulting services.
Capital régional et coopératif Desjardins, Investissement Québec and TELUS Increase Their Equity Participation in Alithya and iA Financial Group Becomes an Institutional Investor
The increased participation totalling $17M and the addition of a fourth major financial player demonstrate the institutions’ confidence in a homegrown company with international aspirations
MONTREAL, Jan. 18, 2017 /CNW Telbec/ – Alithya, one of the most prominent privately-held strategic consulting and information technology (IT) firms in Canada, is pleased to announce that it has just completed a new round of investment with current shareholders. Capital régional et coopératif Desjardins (CRCD), Investissement Québec (IQ) and TELUS Ventures have increased their participation and iA Financial Group (iA) is investing in the company for the first time. Alithya is focused on accelerated growth, which has surpassed 400% over the past five years. These significant investments will help advance the company’s presence both in Canada and abroad.
Alithya: evolving from local growth to market expansions outside Quebec
“CRCD, TELUS and IQ’s continued trust and support is a clear validation of our strategy and confidence in our ability to perform. We are thrilled to have a new institutional shareholder and major player of iA Financial Group’s calibre. With this new partner we will be able to continue our rapid expansion and take on the role of consolidator in the IT market. Our investors, including our employees, who benefit from a share purchase plan, believe in our innovative business model that sets us apart from the competition,” said Paul Raymond, President & Chief Executive Officer of Alithya.
“We are proud to reiterate our confidence in Alithya by increasing our participation in the company. The management team is dynamic, visionary and driven by a solid business plan that aims at consolidating their market and leave a trace in the economic landscape. With this investment, CRCD fulfills its mission of economic development by investing in Quebec’s finest.” said Luc Ménard, Chief Operating Officer at Desjardins Business Capital régional et coopératif.
“Investissement Québec was already a shareholder. By increasing our participating in Alithya, we are supporting a rapidly expanding company whose objective is to be a leader in the highly competitive industry of IT consulting services,’ announced Pierre Gabriel Côté, President and CEO of Investissement Québec.
‘With an additional investment in Alithya’s share capital, not only are we participating in its meteoric growth but we are reaffirming our belief in Alithya’s ability to evolve and innovate. These are the very qualities that have driven our decision to increase our participation in the company,’ said Richard Osborn, Managing Partner of TELUS Ventures.
About Capital régional et coopératif Desjardins
With nearly 100,000 shareholders, Capital régional et coopératif Desjardins (CRCD) is a public company with $1,643 million in net assets. CRCD contributes to Quebec’s economic development through several levers developed with its manager, Desjardins Business Capital régional et coopératif. These levers, with CRCD as the driving force, form its entrepreneurial ecosystem designed to value and nurture the best of Quebec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 410 businesses, cooperatives and funds in various industries spanning all Quebec regions, helping to create and retain more than 68,000 jobs. http://capitalregional.com/en/
About Investissement Québec
Investissement Québec’s mission is to foster investment growth in Quebec, thereby contributing to economic development and job creation in every region. The firm offers a full range of financial solutions, such as loans, loan guarantees and equity investments, to support companies in every stage of their development. In addition, Investissement Québec manages tax measures and investment prospecting abroad. http://www.investquebec.com/quebec/en
About TELUS Ventures
As a full-service telecommunications provider and one of the largest carriers in North America with a $30+ billion market cap, TELUS Ventures strives to seamlessly connect millions of people, companies and communities by using—and investing in—the most advanced and innovative network technologies available in today’s market. http://ventures.telus.com
About iA Financial Group
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and among the largest publicly traded companies in the country. iA Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. www.ia.ca
Alithya, one of the most prominent privately-held strategic consulting and information technology (IT) firms in Canada and the leader in Quebec, operates in North America and France. Founded in 1992, the firm advises, guides and assists its clients in their pursuit of innovation and excellence. Alithya prioritizes the achievement of business objectives on every project, relying on the optimal use of information technology. Its clients are mainly active in financial services, telecommunications, transportation, health care and government services. In addition to the prominent role women play at Alithya, most notably in executive positions, and the company’s deep social commitment, Alithya counts more than 1,250 specialized consultants in Canada, the US and France.
For more information, visit www.alithya.com or watch the company’s corporate video at https://www.youtube.com/watch?v=U3126xIB7Ps&t=5s
For further information: Marie-Josée Rivard, Director, Communications and Marketing, 514-285-5552, firstname.lastname@example.org
Photo courtesy of Alithya