Altex lands C$5M debt financing to automate plants, chase US growth
Investissement Québec and the Business Development Bank of Canada (BDC) have provided more than C$5 million in debt financing to Altex, a Terrebonne, Quebec manufacturer of high-end window-covering systems. The money will automate production and fund expansion across Canada and the US.
Altex plans to automate aluminium machining and the assembly of its proprietary Newton High-Speed Lite-Lift technology. It expects the upgrades to raise capacity, improve quality, and cut direct labour requirements by more than 15%.
Altex expects to close its 2026 fiscal year on August 31 with more than $50 million in sales, up nearly 15% year on year. In the architectural sector alone, it has secured more than $10 million in new 2026 contracts, beating its revised annual target.
The company is riding demand on both sides of the border. Its Canadian alliance with distributor Sun-Brite generated $1.8 million in orders in four months, with nearly $4 million projected for 2026.
In the US, Altex works with Standard Textile through a manufacturing licensing deal that lets the supplier produce Altex systems in Brownsville, Texas. The partners have supplied window coverings for 18 schools in California.
Cross-border tariffs remain a risk. To limit the impact, Altex set up Newton Global Commercial, a joint venture with US manufacturer Echota, to produce locally for the American market.
The financing shows Quebec's public lenders backing manufacturers that automate to stay competitive amid a tariff dispute that began in 2024. "Today, we have the foundation we need to reach the next stage of our growth," said Gilles Dumoulin, president and chief executive officer of Altex.
Image credit: jurvetson
Read more: Newswire
