Trio of Executive MBA alumni give $100,000 to extinguish financial barriers for students

WATERAX CEO Raffaele Gerbasi, EMBA 08, likes to say that his company is in the business of helping wildland firefighters move water.

Although news coverage often highlights helicopters or planes dropping water over forests ablaze, he points out that the true heroes are the hundreds — sometimes thousands — of firefighters on the ground, pumping water and battling flames for days or even weeks on end.

When Gerbasi met his WATERAX partners, Marcello Iacovella, BComm 03, EMBA 08, and Frédéric Lefrançois, EMBA 08, in the Executive MBA program at Concordia’s John Molson School of Business, they quickly formed a bond that would extend far beyond the classroom.

“The EMBA was a turning point — it gave me trusted partners and the confidence to build something bigger than myself,” says Lefrançois. “I want to give back so that future students can have the same opportunity I was blessed to experience.”

That formative experience continues to shape their careers nearly two decades later and inspires them to support the next generation of students.

The trio — co-founders of the Wildfire Group, the minority shareholder of WATERAX — recently donated $100,000 to support undergraduate business students at their alma mater.

Their philanthropy at Concordia began in earnest in 2012, when they gave $100,000 to the business school, resulting in the naming of the EMBA Amphitheatre in the Wildfire Group’s honour.

The alumni have also remained actively engaged with the John Molson School, meeting with students, participating in case studies and supporting both EMBA and undergraduate programs.

“It’s not just about giving money,” says Iacovella. “We’ve stayed connected because we want to be part of students’ journeys, to share what we’ve learned and help them see what’s possible.”

Gerbasi adds, “Being involved with Concordia has been as rewarding as running our business. Seeing students grow, get inspired and take on challenges reminds us of why we chose to give back in the first place.”

‘I can’t imagine a more meaningful business’

The trio’s entrepreneurial paths converged shortly after their EMBA experience when they came together to acquire and manage a division of Tyco International, the company where Iacovella was working at the time.

That acquisition became the foundation of the Wildfire Group, and a new launchpad for WATERAX, a Montreal-based manufacturer of high-tech portable pumps used in fighting wildfires.

Gerbasi — who serves as CEO, with Lefrançois as vice-president and Iacovella as special advisor — recalls the moment he committed to the venture.

“I thought I might stay in the background at first,” he says. “But the potential of the company and the purpose of its work just pulled me in. I can’t imagine a more meaningful business to be part of.”

Under their leadership, WATERAX has transformed from a largely distribution-focused business into a global leader in wildfire-fighting equipment manufacturing. Its flagship product, the MARK-3^@ portable pump, has been redesigned to be lighter and more technologically advanced, featuring remote controls via mobile apps.