At 18 years old, Maxime Veilleux was doing what most of his peers were doing: navigating the transition into adulthood. But for the Brossard native, that transition involved launching a small business from the ground up. Now 20, Veilleux has already exited his first venture and is eyeing a different path to growth: repreneuriat, or the acquisition of existing businesses.
Having recently sold his landscaping company, Impression Paysagement, Veilleux is not looking to retire. Instead, he is actively searching for a modern project to acquire. His motivation is partly financial and partly patriotic. He views the acquisition of established Quebec firms as a critical bulwark against the trend of local companies being sold to the highest bidder, often located in the United States.
The strategy marks a shift from the traditional “startup” mentality. While Veilleux has the experience of building a brand from scratch, he recognizes the inherent efficiency of buying an existing operation. For a young entrepreneur with a background in accounting, the appeal lies in the stability of a “machine” that is already functioning, complete with a client base, a reputation, and a reliable team.
The Economic Stakes of Quebec’s SME Transfers
Veilleux’s ambition arrives at a pivotal moment for the Quebec economy. A significant wave of business transfers is currently underway as a generation of founders reaches retirement age. According to the Observatoire de Repreneuriat Québec, the number of business transfers surged by more than 38% between 2015 and 2023, reaching a total of 12,000. The momentum is expected to continue, with more than 16,000 companies potentially changing hands within the next year.
This surge creates a competitive marketplace where local buyers often clash with foreign investors. Veilleux expresses a specific frustration with the loss of generational companies to American buyers. “I don’t like it when I see Quebec companies that have been here for generations being sold to the best buyer located in the United States,” he said. He argues that the lack of competitive local offers often leaves sellers with little choice but to accept higher bids from abroad, noting that if a U.S. Buyer offers double the price, owners will naturally gravitate toward that option.
To combat this, Veilleux believes the province needs a more robust ecosystem of local buyers capable of making competitive offers. By stepping into this gap, he hopes to preserve the local identity and employment stability of the firms he acquires.
From Startup to Acquisition: A Strategic Pivot
The transition from founding to acquiring is a calculated move based on risk management. Veilleux describes the grueling process of starting from zero: the struggle to discover the first clients, the effort required to build a reputation, and the long hours spent assembling a trustworthy team. By pursuing repreneuriat, he is essentially buying time and infrastructure.
His approach to funding is equally pragmatic. Rather than relying solely on traditional bank loans, Veilleux is leveraging a hybrid financial model. He plans to use the proceeds from the sale of Impression Paysagement, combined with personal savings and loans from close associates. He also intends to form partnerships with family members, sharing equity to increase his purchasing power.
A Generational Shift in Leadership
The enthusiasm of young entrepreneurs like Veilleux is echoed by seasoned leaders in the province. During the ninth edition of the Sommet du repreneuriat at the Palais des congrès de Montréal, former Premier Lucien Bouchard expressed strong confidence in the capacity of the younger generation to take the helm of the economy.
“It is the young generation that wants to get on board the train, and take the controls and proceed further than before. It’s formidable,” Bouchard said. His perspective suggests a cultural shift where youth are no longer just looking for employment, but are actively seeking to manage and expand the industrial legacy of the region.
Key Trends in Quebec Business Transfers
| Metric | Data / Trend |
|---|---|
| Transfer Growth (2015-2023) | > 38% increase |
| Total Transfers (2023) | 12,000 companies |
| Projected Transfers (Next Year) | 16,000+ companies |
| Primary Risk | Foreign (U.S.) acquisition |
For Veilleux, the specific sector of his next acquisition remains open. He has stated that he is open to any field, provided the business aligns with his personal values. This flexibility allows him to pivot based on where the most viable “machines” are currently available for purchase.
Disclaimer: This article discusses business acquisitions and financial strategies. It is intended for informational purposes only and does not constitute financial or investment advice.
As the window for these transfers remains open, the next critical phase for entrepreneurs like Veilleux will be the identification and due diligence of target SMEs. The broader economic impact will depend on whether the surge in local youth interest can match the capital and speed of international bidders.
We invite you to share your thoughts on the trend of youth-led business acquisitions in the comments below.
