Bank of Montreal has agreed to buy Radicle Group, an environmental strategies company in Calgary.
The Canadian bank said in a press release Wednesday that it expects to close the deal by the end of this year. The price was not disclosed.
Radicle develops carbon offsets and helps organizations measure and reduce emissions.
“Radicle’s leading expertise and innovative solutions make BMO a leader in carbon credit development capabilities and the environmental commodity market,” Barclay added. “These capabilities enhance our commitment to help our clients understand and manage the risks and opportunities of energy transition.”
BMO Capital Markets and Torys advised BMO. Citi and Borden Ladner Gervais advised Radicle.