CIBC Innovation Banking provided senior credit facilities to support BVP Forge’s strategic investment, and fund the recapitalization of Parsec Automation, a leading Manufacturing Operations Management (MoM) software platform.

Parsec Automation enables manufacturing companies to optimize manufacturing processes, maximize asset utilization, and reduce lead times. Its software is used in thousands of factories across Automotive, Life Sciences, Packaged Goods and other verticals in over 130 countries.

“We are pleased to work with CIBC Innovation Banking, a team that shares our commitment to innovation and excellence,” said Eddy Azad, Founder & CEO, Parsec Automation. “Our TrakSYS MES software is at the forefront of driving significant advancements in manufacturing operations, quality, and sustainability. The dynamic and high-growth nature of our business requires a solid banking partner that understands our needs and can provide the necessary support to propel us forward. We look forward to achieving great success together.”

"We are excited to work with Parsec Automation and support its mission of simplifying manufacturing operations, especially as manufacturers around the world focus on digitalization,” said Youssef Kabbani, Executive Director, CIBC Innovation Banking. “We look forward to working with Parsec Automation as well as BVP Forge as they continue to expand their platform globally."