- Canva Group specializes in industrial and commercial printing
- It employs nearly 400 people and has more than 5,000 customers in North America
- The company is targeting accelerated growth in North America and elsewhere with an aim of achieving sales of $120 million dollars
W Investments this week said it has acquired an interest in Canva Group through its fund W Investments Group II. The deal, the financial terms of which were not disclosed, was done alongside Desjardins Capital, a shareholder since 2019.
Founded in 2004, Montreal-based Canva specializes in industrial and commercial printing. It employs nearly 400 people and has more than 5,000 customers in North America.
“Despite the pandemic, Canva Group has been able to pursue its growth objectives and is very well positioned to seize the consolidation opportunities currently offered by the Canadian market,” said René-Pierre Roussel, co-founder and CEO of Canva Group, in a statement. “With a new business partner like W Investments, we will be able to accelerate our growth in North America and elsewhere and achieve sales of 120 million dollars within the near future.”
“It is very rare to see a growth plan as well defined as Canva Group’s and we are delighted to be able to support the team in achieving this plan with the help of our partners at Desjardins Capital,” said David Waddell, managing partner of W Investments Group.
W Investments is a private equity firm based in Montréal. Generally, the firm targets minority positions in businesses with at least $30 million in enterprise value. It is sector agnostic.
Desjardins Capital, affiliate of Desjardins Group, is also based in Montréal and offers financial support to growing businesses and startups in Quebec.