FrontierAlt Investment Management Corp. said Tuesday it is expanding into Quebec with a deal to acquire a small Montreal-based mutual fund company and its affiliated back-office services provider.

FrontierAlt, a Toronto-based structured products manufacturer and distributor with offices in Ottawa and Calgary, said the acquisitions of Orbit Mutual Funds Management Ltd. and KeiDATA Backoffice Solutions Inc are subject to regulatory approval.

Orbit is an independent boutique set up in 1988 by Feico Leemhuis. It currently offers three mutual funds to retail investors, which are advised by reputable, independent investment managers, including Delaware-based Marvin & Palmer Associates Inc. Montreal-based KeiDATA, a sister company to Orbit, provides a comprehensive range of back office services, including record-keeping, fund valuation and client reporting.

“These acquisitions are part of our long-term business plan to become a fully integrated financial services company,” Asif Khan, chairman and CEO of frontierAlt, said in a statement. “From a strategic standpoint they add greater depth and breadth to our product and service offerings and put us in a sound position to grow our business.”

FrontierAlt will keep and develop both the Orbit and KeiDATA brands. Both companies will continue to operate out of their current location, with representative offices in Toronto. The management of Orbit and KeiDATA will also remain unchanged.