Adrenalys seeks 50 Ontario-based companies
TORONTO, April 17, 2017 /CNW/ - Ontario companies targeting growth now have a new way to achieve this goal thanks to the launch of Adrenalys, a group looking to propel 50 successful mid-sized businesses to the next stage of development.
Adrenalys comprises a group of private companies, acting as partners, who believe the foundation of sustained economic development in Ontario depends on the success of local businesses. It is focused on mid-sized companies as these businesses are especially vulnerable. In fact, from 2006 to 2010 the number of mid-sized companies operating in Ontario declined by 25%, according to Statistics Canada.*
Companies selected for inclusion in the Adrenalys program will receive:
- Up to $350 million in dedicated funds for growth initiatives in financing and funding
- A CEO Council of peers where trends and issues can be discussed confidentially
- A tailored suite of professional and financing services offered by the Adrenalys Partners
- $6-7 million in pro-bono, free-of-charge or reduced-fees services from the Adrenalys Partners (amount to be shared among the members)
"Local companies are the lifeblood of our country. Our goal is to help successful businesses grow to new levels, with an individually tailored suite of services, so the benefits are felt by all – at the local, provincial and national levels," explains Christine Magee, Chair and Cofounder of Sleep Country Canada and Member, Adrenalys Advisory Council. "Adrenalys is business helping business."
According to Innovation, Science and Economic Development Canada, as of December 2015, there were 1.17 million employer businesses in Canada. Of these, 1.14 million (97.9 percent) businesses were small businesses, 21,415 (1.8 percent) were medium-sized businesses and 2,933 (0.3 percent) were large enterprises. Small and medium companies contribute 30% to Canada's GDP.
Adrenalys is looking for companies meeting the following criteria:
- The business must be headquartered in Ontario.
- It must be active for at least five years.
- Its sales must be higher than $10 million.
- The business must be either a private corporation or a publicly traded company.
- 51% or more of the business must be controlled by Canadian interests.
"Adrenalys looks for leaders who have that magic combination of humility – knowing they don't have all the answers – as well as a drive to succeed here at home in Canada. When we find that leader, we provide a shot of adrenalin to the company so it can grow quickly and efficiently," adds John Hughes, Senior VP, National Leader, Private Enterprise, MNP LLP, Adrenalys Partner Council member.
Those interested should submit applications before 5 p.m. on June 9, 2017, at www.adrenalys.ca
Those selected must provide a two-year commitment to Adrenalys, as well as pay a $15,000 membership fee (over two years) which covers:
- CEO Council membership with quarterly meetings
- Participation in a variety of events and activities geared to the C-suite
- A business diagnostic (to better pinpoint the business's needs and allow the Adrenalys team to propose relevant lines of approach)
- Consistent communication between CEOs and Adrenalys partners, to best ensure challenges are addressed and goals identified and achieved
Adrenalys launched its program in Quebec in 2015 with 24 member companies. Based on the success of that first cohort, a second Quebec cohort of 25 member companies will be recruited as well as the 50 companies for its first Ontario cohort. Adrenalys plans to expand its program to Western Canada in 2018.
For further information on Adrenalys, or to submit an application, visit:
*source: Statistics Canada Economic Analysis Division 2006 and 2010.
Adrenalys is business helping business – by providing up to $350 million in financing as well as $6-7 million in pro-bono services – to propel exceptional companies to the next level. The Adrenalys Partners are: Scotiabank, Roynat Capital, MNP LLP, Borden Ladner Gervais LLP (BLG), L&C Strategic Advisory Consultants, Proaction International and Finalta Capital. The Partners believe these companies are the keys to Canada's long-term economic health.
For further information: on Adrenalys and its search for successful companies set for growth, or to interview John Hughes, Senior VP, National Leader, Private Enterprise, MNP LLP, Adrenalys Partner Council member, please contact: Teresa Donia, iAMBIC Communications, [email protected], 905-508-5550