On May 15, 2025, Ventilation Jean Roy, a Quebec-based ventilation systems installation company, has announced a strategic partnership with investors led by Champlain Financial Corporation, including Fondaction as a co-investor, pending regulatory approvals. Founded in 1991, VJR specializes in HVAC system installation emphasizing performance and energy efficiency, incorporating advanced technologies such as heat recovery to support building decarbonization initiatives. The company primarily serves the public sector, including schools, hospitals, and retirement homes, while assisting general contractors with green building certifications including LEED and APH Select. The partnership is designed to accelerate company growth, enhance operational capacity, and facilitate expansion into new markets across Quebec and Canada. Philippe Belleville continues as President and CEO, while Charles-André Bilodeau has joined as Co-President and investor. Pierre Simard, Managing Partner of Champlain Financial Corporation, stated the investment reflects confidence in VJR as a specialized, quality-focused local enterprise committed to innovation and sustainable development. The transaction remains contingent on regulatory approvals and represents a strategic move to strengthen VJR's market position within Canada's ventilation and HVAC sector.

Norton Rose Fulbright Canada LLP advised Ventilation Jean Roy, while Fasken Martineu DuMoulin LLP advised Champlain Financial Corporation.

Transaction value was not disclosed.