The Can-Explore Group, an engineering company specializing in infrastructure asset management, is proud to announce the closing of a strategic financing round totaling $13 million, led by Investissement Québec with participation from Fondaction and Desjardins Entreprises. This capital raise coincides with the company’s acquisition of Laboratoires Canalisations Souterraines (LCS), a firm providing technical services for water and sewer pipelines.
This financing round will notably help propel the international growth of Can-Ex Technologies, aiming to conquer the water pipeline inspection equipment market. The funds will also be used to consolidate the Group’s leading position in the infrastructure asset management sector, notably through acquisitions.
Acquisition du Laboratoire de canalisations souterraines INC. (LCS)
The purchase of LCS, finalized concurrently with the closing of this round, perfectly aligns with the company’s strategic vision and growth objectives. The long-established relationship between LCS and Can-Explore facilitated the transaction, in a context where there was no internal succession for the owner in place since the company’s founding. For Can-Explore, the acquisition of LCS will consolidate its commercial footprint in water infrastructure services, enhance its asset portfolio, and optimize its operations, all offering excellent cost synergy potential.
As North American municipalities are concerned with the age, maintenance, and sustainability of their sewer and water networks, Can-Explore aims to accelerate the development and commercialization of its innovations and develop new markets. Its strategy relies on already established international partnerships.
Photo by Simon Clark. Seated, from left to right: Olivier Lefebvre (Can-Explore), Jean-Simon Cayer (Investissement Québec), Louis Légaré-Lapointe (Can-Explore), and Lyne Bégin (Desjardins Entreprises). Standing, from left to right: Tom Tardif (Can-Explore), Louis-Simon Gélinas (Fondaction), Alex Laverdière (Investissement Québec), Guillaume Olivier (Fondaction), Olivier Gagnon Lacoursière (Desjardins Entreprises), and Charles Blouin (Can-Explore).
“I would like to thank Investissement Québec for their attention and support. With their involvement as a financial partner, and the participation of Fondaction and Desjardins Entreprises, they will help us create leverage to accelerate our expansion. With this financial support, we equip ourselves to fuel our ambitions, stimulate our growth, and consolidate our position as a leader in infrastructure asset management.”
Louis Légaré-Lapointe
President of the Can-Explore Group.
“Investissement Québec is proud to see Can-Explore reaching a crucial milestone in its growth. Our financial contribution is already bearing fruit by facilitating the acquisition of LCS, whose succession is now secured. Our lead role in this transaction clearly demonstrates the strategic financial partner role we can play in supporting companies’ growth ambitions, their technological shift, and the commercialization of their innovations here in Quebec and international markets.”
Bicha Ngo
President and CEO, Investissement Québec.
“Water infrastructure is essential to the vitality of our cities and villages, and its maintenance is critical when it is aging and climate change results in more frequent torrential rains. In this context, the innovation and multidisciplinary expertise put forward by Can-Explore contribute to making our cities safer and more sustainable, a priority investment axis for Fondaction.”
Alain Longpré
Deputy Chief, Impact and Sustainable Investments at Fondaction.
“Desjardins has been supporting Can-Explore since its inception, and we are proud to continue our support for this committed and visionary entrepreneurial team. In a context where many Quebec SMEs face succession challenges, growth through acquisition is a promising strategy to ensure continuity of expertise and stimulate innovation. This transaction perfectly illustrates our commitment to supporting entrepreneurs building Quebec’s economic future.”
Jean-Yves Bourgeois
Executive Vice-President, Business Services at Desjardins Group.
About the Can-Explore Group
Based in Quebec City and founded in 2014, the Can-Explore Group specializes in infrastructure asset management with revolutionary solutions helping municipalities, businesses, and institutions to maximize the sustainability of their assets. The Can-Explore Group includes Can-Explore, a Quebec leader in engineering services, infrastructure inspection, surveying, and geomatics, as well as Can-Ex Technologies, its division dedicated to developing and marketing next-generation inspection solutions. Active in Quebec and internationally, the Can-Explore Group, with its 150 employees, relies on an integrated approach to infrastructure asset management focused on innovation.
About Investissement Québec
Investissement Québec’s mission is to play an active role in Québec’s economic development. The Corporation’s service offering aims to stimulate productivity, innovation, market development, and competitiveness for Québec businesses. To this end, Investissement Québec supports them throughout their development by offering financing as well as business advice, technology transformation, and workforce strategy support. Additionally, through Investissement Québec International, the Corporation provides concrete support to businesses in their export efforts and conducts prospecting activities to attract foreign investment to Québec.
About Fondaction
For nearly 30 years, Fondaction has been a pioneer investment fund for individuals and companies mobilized for the positive transformation of the Quebec economy, making it more just, inclusive, green, and performing. As a fund created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of companies committed to advancing Quebec. It manages over $3.99 billion in net assets as of November 30, 2024, largely invested in hundreds of companies and financial markets, favoring investments that generate positive economic, social, and environmental impacts in addition to providing financial returns. Fondaction contributes to job maintenance and creation, reducing inequality, and combating climate change.
À propos du Mouvement Desjardins
Desjardins Group is the leading cooperative financial group in North America and the sixth largest in the world, with $487.9 billion in assets as of March 31, 2025. Desjardins has been named among Canada’s Best Employers by Forbes magazine, as well as by Mediacorp, and has been recognized as one of the World’s Best Financial Institutions in 2025 by Forbes. It relies on the expertise of over 56,100 employees. To meet the diverse needs of its members and clients, both individuals and businesses, it offers a full range of products and services through its extensive service point network, its virtual platforms, and its Canadian subsidiaries. Listed among the world’s most solid banking institutions by The Banker magazine, Desjardins boasts capital ratios and credit ratings among the best in the industry. In 2025, Desjardins Group celebrates its 125th anniversary, marking over a century of ambition, presence, and expertise serving its members and clients.