CPE Media News (4/29/2019) – BDC Capital’s Growth & Transition Capital division has provided $1 million in mezzanine financing to Strato Automation Inc.
Montreal based Strato Automation designs devices allowing automated and centralized control of all heating, ventilation and air conditioning (HVAC) systems of buildings.
Founded in 2010, Strato Automation was acquired in November 2017 by a group of shareholders with the ambition to further develop the company’s products and distribute them on a larger scale.
BDC Capital’s financing completes a second round of financing from the shareholders and will help the company to accelerate its growth plan.
photo credit: Strato Automation Inc.
News Release
Montreal building technology firm Strato Automation receives $1M in financing from BDC Capital
Montreal, April 29, 2019—BDC Capital’s Growth & Transition Capital division provided mezzanine financing of $1 million to Strato Automation of Montreal, Quebec. The company designs devices allowing automated and centralized control of all heating, ventilation and air conditioning (HVAC) systems of buildings. Strato’s highly flexible products have the ability to control systems made up of components from different manufacturers and to be programmed according to the clients’ needs.
Founded in 2010, Strato Automation was acquired at the end of 2017 by a group of shareholders with the ambition to further develop the company’s products and distribute them on a larger scale. The financing from BDC Capital, which completes a second round of financing from the shareholders, will serve to accelerate the plan. The next generation of Strato products will be simpler to deploy and will include cloud-type services as well as functions to optimize the energy efficiency of buildings through the use of system data and techniques based on artificial intelligence.
For BDC Capital, this transaction was spearheaded by Alexandre Leclerc, Director, Growth & Transition Capital, Montreal. “The management team led by Pierre Samson, for whom this is not his first business, is a very great strength for Strato,” states Alexandre Leclerc. “The team has a solid mastery of the needs of the industry and its future prospects, as well as the ability to propose innovative solutions to meet them.”
“The building systems and IT worlds are converging very rapidly,” explains Pierre Samson, President of Strato Automation. “Strato plans to seize this opportunity by capitalizing on proven products, enhanced by the injection of leading-edge technologies, such as machine learning, to optimize the energy efficiency of buildings. BDC Capital’s contribution now enables us to accelerate this work in progress and its marketing. We are very proud to have the trust of Alexandre and his team at BDC Capital.”
About Strato Automation
Based in the heart of Montreal, Strato Automation’s mission is to develop and market the most simple, open and smart building control products on the market, to benefit building owners and their occupants.
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 Canada’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.
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