Matrion to get $15 million in funding from Quebec firm
Matrion to get $15 million in funding from Quebec firm
Sofinov , an investment firm which is a subsidiary of the Caisse de depot et placement du Quebec, said that it will invest $15 million in rapidly growing Atrion International (Montreal). Chemmate, Atrion’s primary software product, is used to write, publish and manage regulatory documents and labels that comply with national and international regulations on health, safety and transportation of hazardous products. The company mainly targets North America and European companies.
A subsidiary of the Process Technology Group (PTG), Atrion reported that its 1998 revenues grew by more than 300%. The fourth quarter alone yielded over one-and-a-half times the revenues for all of 1997, representing a 61% increase over the third quarter of 1998. Staffing increased from 35 to 130 people, 60% of which was in R&D, support and professional services.
Launched in 1989, the company reports having more than 800 customers worldwide. Atrion International is headquartered in Montreal, with offices in Toronto; Nashville, TN, and Reston, VA.; Nijmegen, the Netherlands; and Cologne, Germany.
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