Consortium Acquires Equipment Manufacturer Metal 7 Inc. in Sept-Îles
SEPT-ÎLES, QC, April 11, 2014 /CNW Telbec/ - A consortium of investors led by NCP Investment Management has acquired Metal 7 Inc., a specialized manufacturer based in Sept-Îles, Québec. The consortium is made up of the the Business Development Bank of Canada (BDC), Fondaction CSN, Fonds de solidarité FTQ, the Fonds régional de solidarité FTQ Côte-Nord, NCP Investment Management Inc. and other minority shareholders.
Founded in 1974, Metal 7 specializes in the design and production of high-performance equipment for the primary industry. The company's edge is its expertise in surface engineering (coatings). Metal 7 has a large customer base in the iron ore pelletizing, aluminum and pulp and paper industries, and has carried out projects in 17 countries around the world.
"We are pleased to have been able to reach this deal with Metal 7's management and to have such quality investors on board. Metal 7 is part of a global expansion and consolidation plan that will see it become a major supplier of value-added products and services for the primary sector," said Mario Jacob, Chief Operating Officer of NCP Investment Management.
"With the support of BDC and its partners, this transaction will enable Metal 7 to undertake further expansion and to lay solid foundations for building a world-class firm that can leverage Canadian value-added expertise on behalf of the resource industry," stated Danielle Landry, BDC Vice President, Subordinate Financing - Quebec. "Our investment, in the form of equity, demonstrates our long-term commitment to providing the flexibility and support that ambitious entrepreneurs need to implement their growth plans."
"This deal will help fuel the growth of a solidly entrenched Québec company with internationally recognized expertise. Fondaction is proud to be a part of this consortium, which will support Metal 7's team. We are confident about the growth potential of this innovative company and in its ability to continue creating job in the Côte-Nord region," said Claire Bisson, Assistant Director of Investments for the Capitale nationale, Centre and Est du Québec regions.
"The Fonds de solidarité FTQ and its Fonds régional de solidarité FTQ Côte-Nord are pleased to be a part of this deal and support Metal 7's management and workers in Sept-Îles. As a result of its expertise and international presence, this company has carved itself a choice spot on the global markets, which is good news for its workers and the Côte-Nord economy. The Fonds is happy to see that the company's new president, Marc-André-Gervais, will be able to continue counting on the existing management team, which includes Christian Michaud and Bruno Morency," said in turn Normand Chouinard, Chief of Investments of the Fonds de solidarité FTQ, and Claude Potvin, General Manager of the Fonds régional de solidarité FTQ Côte-Nord.
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
Fondaction invests in Québec SMEs in order to help maintain and create jobs in Québec, within a context of sustainable development. It manages over $1 billion in assets from retirement savings collected from 125,000 shareholders. Through its investments or commitments, either directly or by way of partner or specialized funds, Fondaction supports the development of more than 850 Québec SMEs, many of which represent different components of the social economy. www.fondaction.com
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive the Québec economy. With net assets of 9.7 billion dollars as of November 30 2013, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in 2,400 companies. With over 615,000 shareholders-savers, the Fonds helps create, maintain or protect over 170,000 jobs. For more information, visit www.FondsFTQ.com.
About NCP Investment Management
NCP Investment Management is a private investment manager serving institutional, corporate and family office clients. With offices in Montreal, Quebec City and Victoria (British Columbia), NCP sponsors direct private equity investments in companies with strong growth potential and seeks buy & build consolidation opportunities. NCP Investment Management is a discretionary Portfolio Manager, Exempt Market Dealer, and Investment Fund Manager regulated by the securities commissions of BC, Alberta, Ontario & Quebec
SOURCE Fonds de solidarité FTQ
Image with caption: "Metal 7 roller screens, one of the star products of the Sept-Îles based company (Photo credit: Optik 360) (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20140411_C9478_PHOTO_EN_39135.jpgFor further information:
Information for reporters:
Marc André Gervais
Téléphone : 418 968-5822, ext. 147
Business Development Bank of Canada
Manager, Public Relations
Phone: 514 283-1759
Fonds de solidarité FTQ
Senior Advisor, Media Relations and Communications
Phone: 514 850-4835
Mobile: 514 703-5587
Suzanne La Ferrière
Phone: 514 525-7041
Mobile: 514 704-2944
NCP Investment Management
Chief Operating Officer
Phone : 418 653-9339
Mobile : 418 572-3514
Courriel : email@example.com