TSX Venture Exchange’s (TSXV) 2024 Venture 50™ list of companies in diversified industries shows an emerging category of investment funds that offer investors access to opportunities similar to private market vehicles.

The annual ranking highlights the top-performing companies driving growth across their respective sectors, based on an equal weighting of each firm’s performance during 2023 across three key indicators: market capitalization growth, share price appreciation, and trading value.

The standout on this year’s ranking of issuers in diversified industries is that six of the 10 are holding companies focused on acquisitions of public or private companies within specific sectors. This highlights the growing blend of public and private markets, providing investors with unique opportunities they may otherwise not be able to access.

Take the top-ranked company, British Columbia-based Decisive Dividend Corporation (TSXV: DE), which focuses on buying, then growing, small and medium-sized manufacturing businesses. Its portfolio spans Canada and the United Kingdom, with companies focused on precision manufacturing, steel and aluminum fabrication, industrial parts serving the agriculture industry, and more. Decisive Dividend’s share price grew 59% in 2023, part of what earned it its top place on the list of diversified companies.

“These types of companies and their management teams offer investors relatively inexpensive access to a somewhat diversified portfolio of public and private companies,” says David Chelich, Head, Global Energy and Diversified Industries, Toronto Stock Exchange and TSX Venture Exchange. “Another appealing aspect is that these companies are publicly listed and provide liquidity for its shareholders.  These two factors, diversification and liquidity, may account for some of the reasons why these companies have risen to the top of this year’s ranking.”

Atlas Engineered Products (TSXV: AEP), also based in B.C., was a close second on the annual ranking. The company, which acquires and upgrades well-established companies in Canada’s truss, wall panels, and engineered wood products industry, saw a 52% share price increase last year.

Similarly, Ontario-based Canso Select Opportunities Corp. (TSXV: CSOC.B), invests in debt, public and private equity, and other securities with the aim of providing shareholders with capital gains and dividend income. Its share price grew 57% in 2023.

Another of these acquisition-minded companies, CoTec Holdings Corp. (TSXV: CTH), reflects investor interest in Environment, Social and Governance (ESG)-driven companies. The holding company – another in B.C. – acquires innovative businesses that aim to make mineral extractions greener. Its 49% boost in share price likely reflects the growing appeal of businesses supporting the energy transition, which was also evident among other companies on this year’s Venture 50 ranking.

Rounding out the six acquisition-oriented investment firms on the list are Ontario-based companies The Westaim Corporation (TSXV: WED), whose share price rose 43% and Partners Value Investments LP (TSXV: PVF.UN), which saw a 31% increase. Westaim specializes in investments mainly in the global financial services industry, including acquisitions and joint ventures. Partners Value Investments has an investment portfolio in a variety of companies, but also an 8% equity ownership interest in asset management giant Brookfield Corporation.

The remaining companies rounding out the diversified industries category are indeed varied. Among them are Massachusetts-based lifestyle and self-care brand MiniLuxe Holding Corp. (TSXV: MNLX), which offers proprietary nail care and aesthetic services and retailer Reitmans Canada Ltd. (TSXV: RET.A). Two companies out of Alberta also made the ranking, including cannabis company High Tide Inc. (TSXV: HITI) and Cematrix Corporation (TSXV: CVX), which produces and sells cellular concrete, a lightweight construction material.

Overall, Canadian companies make up nearly all (47 of 50) of this year’s list, demonstrating how important TSXV is to Canada’s economic growth. 

To learn more about the diversified industries issuers on the 2024 Venture 50, watch this playlist. You can view the complete list of ranked companies, including those in the clean technology and life sciences, energy, mining, and technology sectors on our website.
 

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