Total Cannabis Security Solutions acquires risk management consultancy

10 August 2018

Cannabis security and compliance consulting firm Total Cannabis Security Solutions has acquired David Hyde & Associates. Together, the two Toronto-based security and risk management firms will create Canada’s go-to source for security consulting services in the legal cannabis sector.

Jurisdictions around the world are increasingly legalizing recreational marijuana use and sales. A number of US states, including California, Colorado, and Oregon have legalized cannabis, while Uruguay became the first country to legalize it. Now, in October, Canada is set to become the second country in the world to legalize the drug (many other jurisdictions have decriminalized personal use, but sales, manufacturing and distribution are still illegal). The legal market for cannabis is set to be worth over $4 billion according to a report from accounting and consulting firm Deloitte.

With the switchover of cannabis production and distribution to legitimate enterprise, there is a growing demand for consulting services – including security, risk management, and regulatory compliance. One of the leading firms in the space is Toronto-based Total Cannabis Security Solutions, which helps legal cannabis industry clients secure all facets of their enterprise. TCSS provides solutions in the areas of physical security, due diligence and security culture, regulatory compliance, supply chain transportation, and corporate security.

TCSS has now acquired Toronto-based David Hyde & Associates (DHA), a leading cannabis security and licensing consulting firm. Founded in 2013, the company has provided security and compliance advice to over 300 regulated cannabis producers, and has worked with more than half of licensed producers in Canada. The firm has also attended over 30 licensing inspections with Health Canada.Total Cannabis Security Solutions acquires risk management consultancy"We are very proud to welcome David Hyde and his team to TCSS," said TCSS CEO Neil Weaver. "We are setting the gold standard for security solutions and compliance in the highly regulated legal cannabis industry. Our integrated risk management approach provides a holistic, one-stop platform in support of our clients' business initiatives."

The deal creates a heavyweight in the cannabis security and compliance consulting area, with strengthened capabilities and a greater number of personnel and resources. The acquisition also brings in David Hyde, a seasoned security and risk management consultant. At TCSS, he will take on the role of Chief Operating Officer.

"Our firm has established a very effective niche as Canada's leading consulting company in the cannabis industry during the past five years, and we are delighted to continue that as a part of Total Cannabis Security Solutions," commented David Hyde, Owner and Principal Consultant at DHA. "The important growth in scale and expertise created by this transaction will provide extraordinary value to our clients in the business-critical areas of security solutions and regulatory compliance within Canada, the US, and across the globe."

In related industry news, Vancouver-based tech company BLOCKStrain has entered into a memorandum of understanding with strategy and security advisory firm Spire Secure Logistics. The firms will work together to market a blockchain solution that stores and tracks legal cannabis genetic strains, preventing organized crime and black market intrusion.

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Syntax closes FIT deal, welcomes Quebec Minister of Economy and Innovation

19 March 2019

IT consulting and services firm Syntax Systems recently welcomed Pierre Fitzgibbon, Quebec Minister of Economy and Innovation, to its Montreal headquarters. At a joint press conference, the firm announced the completion of its acquisition of Germany-based SAP cloud specialist Freudenberg IT (FIT).

In January, Syntax – a portfolio company of Montreal-based private equity firm Novacap – announced a double acquisition of cloud ERP consulting firms EmeraldCube Solutions and FIT. EmeraldCube’s specialization lies in Oracle’s JD Edwards software, as well as Amazon Web Services, while FIT is a leading SAP partner. Novacap provided equity financing for the deals.

The acquisition of FIT augmented Syntax’s core offering in Oracle strategy and implementation with SAP software expertise, while extending the firm’s footprint into Europe, Latin America, and Asia-Pacific, as well as adding 850 employees. The EmeraldCube deal boosted the firm’s capabilities and presence in the US, adding to Syntax’s offices in New York City and Somerset, New Jersey.

Syntax closes FIT deal, welcomes Quebec Minister of Economy and Innovation

At a joint press conference attended by Quebec’s Minister of Economy and Innovation, Syntax announced the strategic acquisition is now official, after a six-week period of customary approvals.

"I am very proud of what our company has become. Thanks to these deals, Syntax can deploy its expertise in many new markets, such as Asia, Europe and Latin America, as well as reinforce its North American presence. Syntax will keep its head office in Quebec and wants to inspire other companies to conquer international markets. We look to the future with great confidence, because FIT and EmeraldCube Solutions share our values of customer success and excellence. We are now a major player in the industry," Christian Primeau, CEO of Syntax, said.

The FIT acquisition gives Syntax offices  in Germany, the US, China, Hungary, Slovakia, and Mexico. It also adds a strong client base in the automotive and manufacturing sectors, as well as a deep partner relationship with German ERP giant SAP.

“Quebec and its metropolis are locations that favour the development of information and communications technology as well as companies that are active in this cutting-edge sector. Syntax is demonstrating this by acquiring two international companies and continuing its growth," Minister Pierre Fitzgibbon said at the press conference. 

“This is a great example of a Quebec company that is distinguishing itself internationally and promoting our expertise throughout the world. I am delighted by this announcement, for Syntax and for Quebec as a whole," he added.