Raymond Chabot Grant Thornton buys performance effectiveness-focused FPM360

11 February 2019 Consulting.ca

The Quebec-based counterpart of Grant Thornton Canada has acquired Montreal boutique consultancy FPM360. The move strengthens accounting and consulting firm Raymond Chabot Grant Thornton’s (RCGT) services in financial performance management, finance-related digitalization, and treasury management.

RCGT has boosted its finance function technology offerings in recent years, with the 2017 launch of Catalaxxy in Monteal - a business which provides blockchain strategy, solutions, and implementation - and the rollout of it its Operio solution in partnership with National Bank and the Business Development Bank of Canada. The mobile and web platform provides SMEs with integrated cloud accounting and growth advisory services, as well as access to banking and financing services.

FPM360 specializes in integrated performance management and analytics solutions. The firm helps organizations optimize their finance function through best practices in analytics and planning, treasury management, and technological implementation. It also offers enterprise resource planning solutions from leaders such as SAP, IBM, and BlackLine.

Raymond Chabot Grant Thornton buys performance effectiveness-focused FPM360

"Our strength is the ability to lead the process from start to finish, from diagnosis to deployment," David Mayrand, vice president and partner at FPM360, said.

Founded in 2010 by David Mayrand, Normand Houle, and Hughes Lepage, FPM360 now has a crack team of 47 consultants, most of whom are CPAs. The trio of founders will join RCGT as partners.

"Through this major acquisition, our management consulting practice is essentially doubling the size of its team and our financial performance management offer becomes the most sophisticated of its kind in the market," Emilio B. Imbriglio, president and chief executive officer of Raymond Chabot Grant Thornton, said.

RCGT has more than 2,500 employees (including 200 partners) across more than 100 offices in Quebec, New Brunswick, and eastern Ontario. Together with Grant Thornton LLP (Canada), the firms form a 4,400-person, 170-office network across the country.

"To meet our clients' growing needs, it was essential for us to join a top-flight firm such as Raymond Chabot Grant Thornton,” Mayrand said. “We are proud to be part of this Quebec flagship."

Related: Grant Thornton expands into Saskatchewan with firm acquisition


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

19 March 2019 Consulting.ca

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.