Fredericton-based Remsoft has secured a strategic investment from an American private equity fund, which is funding its acquisition of Ottawa-based Lim Geomatics, a forestry software innovator.

The New Brunswick company, which uses data analytics to aid forestry companies, said in a statement last week that it took on the investment from Banneker Partners, a San Francisco PE firm specializing in enterprise software.

The same statement said some of the capital was used to acquire Lim Geomatics, a 19-year-old company that develops geospatial software for the forestry sector.

Though the financial details of neither transaction were revealed, the two deals add up to a transformative phase for one of Atlantic Canada’s most venerable tech companies. It’s the first time in Remsoft’s 33-year history that it has taken on outside capital, and Lim Geomatics has made national lists for the fastest-growing companies in the country.

“The forestry sector is accustomed to disruption—from shifting regulations to changing market dynamics. Success comes from adaptability, efficiency, and informed decisions,” said Remsoft Co-Founder and CEO Andrea Feunekes in a statement.

“Our cloud-enabled platform integrates data with optimization, spatial intelligence, and AI to drive greater value for customers. With Banneker’s support and the acquisition of Lim Geomatics, we can innovate faster and deliver the most advanced analytical tools to the industry.”

Founded in 1992 by Andrea and Ugo Feunekes, Remsoft has developed software that uses predictive analytics for the entire forestry supply chain. In bringing on investment from Banneker, it is partnering with a private equity fund that targets companies with revenues ranging from $10 million to $100 million.

Remsoft said the investment strengthens its ability to scale, accelerate innovation, and deliver solutions that help forestry organizations improve profitability and enhance sustainability.

“We’re excited to support Remsoft’s growth as it scales its technology and innovates to enhance efficiency, strengthen sustainability, and drive meaningful impact across the industry,” said Steven Ballantyne, Operating Partner at Banneker.

The statement also said the Fredericton company has bought Lim Geomatics to expand the Remsoft platform with geospatial intelligence and forest machine telematics capabilities that deepen insights into forest operations.

Founded in 2006 by Dr. Kevin Lim, the acquired company has developed geospatial software that helps forestry companies with their planning, management and harvest operations. There’s no public record of Lim ever receiving investment, but it was named to The Globe and Mail’s list of the 500 fastest-growing companies in Canada in 2021, 2022, and 2023.

“Remsoft and Lim Geomatics share a passion for advancing forestry through technology innovation that addresses real-world challenges,” said Lim in the statement. “Together, we are developing a modern and modular platform that harnesses data and analytics to ensure that every stakeholder—from landowners and forest product companies to public stewards and timberland investors—can navigate today’s challenges and unlock future opportunities.”