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BDO’s M&A and Capital Markets team is pleased to announce that Montreal-based Substance Agency (Substance) invested in Church+State, a leading digital marketing services company headquartered in Toronto.

Substance and Church+State

Founded in 2012 and proudly established in the Southwest of Montreal, the independent agency stems from the ambition to propose a unique agency formula: a combination of content, creation, and media. Its mission is to offer a collaborative approach to visionary clients to become the main partner in their success.

Our M&A and Capital Markets team acted as exclusive financial advisors to Substance by assisting the company’s shareholders and management throughout the investment process. BDO also provided financial due diligence support.

Congratulations to Substance and Church+State for this new partnership!

For any inquiries related to this transaction, please contact:

Bernard Cormier, Managing Director and Eastern Canada Leader, M&A and Capital Markets, Montreal

Antoine Dansereau, Vice President, M&A and Capital Markets, Montreal

Learn more about BDO’s M&A and Capital Markets service

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