Nolk raises $30M from the Fonds de solidarité FTQ, Fondaction, EDC, and Panache Ventures to accelerate the growth of its brand portfolio through acquisitions
Summary
The capital will mainly be allocated to acquisitions, with a small portion going to continued investments in technology and working capital.Launched in 2018 with the mission to help the modern household find and use design centric, sustainable products, Nolk has seen rapid growth over the past few years. With the Fonds de solidarit\xe9 FTQ, Fondaction, EDC, and Panache Ventures, Nolk is supported by mission-driven funds who prioritize sustainability, value creation, and helping Canadian companies thrive in a global economy. Nolk owns and operates 11 brands, including Ergonofis, Opposite Wall, Kana, Rachel, Wolf & Grizzly, Loctote, Freakmount, GoGreenBags, Corretto, Arctic Tumblers and Proper Pour.The fast-growing company is headquartered in St-Bruno-de-Montarville, QC., with a global supply chain. For more information on Fonds de solidarit\xe9 FTQ, visit fondsftq.com.A forerunner in sustainable finance for the past 25 years, Fondaction brings together individuals that are mobilizing for the positive transformation of society, taking action to make Qu\xe9becs economy more equitable, inclusive, green and successful. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.Founded by Samuel Finn and Kimberley Pontbriand with the objective of making work a better place, Ergonofis offers a full range of high-quality office furniture and accessories, thoughtfully designed with care for the environment.