Kitchener-Waterloo construction-tech firm Dozr, once valued at $75 million CAD and backed by more than $60 million in funding, has been sold in a distressed asset sale after entering receivership. Court filings show RBC sought the action in September following a default on Dozr’s $3.4-million credit facility amid severe liquidity challenges.
Receiver KPMG sold the company’s assets to newly formed 17416512 Canada Ltd., led by Toronto entrepreneurs Andrew Ladouceur and Saad Siddiqui. Staff were laid off ahead of the sale, though the new owners may resume operations. Investors say the outcome is disappointing but preserves Canadian ownership.
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