MONTREAL, Oct. 11, 2013 /CNW Telbec/ - Capital régional et coopératif
Desjardins (CRCD) (capitalregional.com) today announced the acquisition of Fournier Industries Inc. in
partnership with members of the company's management team. The deal
allows the company to keep its headquarters in Thetford Mines and
maintain business operations there and at its Trois-Rivières
facilities, thus securing the jobs of more than 250 skilled employees.
Founded in 1960 by Renaud Fournier, the company specializes in the
design, manufacture and installation of industrial equipment.
Fournier Industries President and CEO, Harold Roy, and the company's
management team look forward to the arrival of the new institutional
partner, Capital régional et coopératif Desjardins. According to them,
the partnership enables the company to consolidate its position across
Quebec and focus on growth, optimization of services and the
development of new products and markets. "Our products and expertise
already enjoy an enviable reputation in many sectors: mining,
hydroelectric, wastewater treatment and aluminum foundries, to name a
few. With the resources of our new shareholder, we have greater leeway
to accelerate growth and break into international markets."
Chief operating officer of Desjardins Business Capital régional et
coopératif, Marie-Claude Boisvert highlights the original owner's
excellent transition plan. "Mr. Fournier is a consummate businessman
who has planned his succession with skill and discipline. By laying the
groundwork over the past ten years, he has built a solid bridge for his
managers who are now prepared to lead the company to new horizons. He
is a model entrepreneur, the kind with whom we want to build
Backing a SME to keep business and jobs in Quebec
Mr. Fournier, founder and former CEO of his namesake company, is pleased
with this development since foreign companies had been eyeing Fournier
Industries in recent years. "We've spoken with foreign buyers on
several occasions, but it has always been a priority of mine to keep
jobs in Thetford Mines and Trois-Rivières. However, that kind of
guarantee from foreign buyers is hard to come by. Having Capital
régional et coopératif Desjardins come in as a majority shareholder not
only ensures the company stays in Quebec, it gives the management team
a powerful ally for business growth."
About Fournier Industries Inc.
Incorporated in 1960, Thetford Mines-based Fournier Industries Inc.
specializes in the design, manufacture, repair, reconditioning, and
installation of a wide variety of mechanical products and equipment for
mining, hydroelectricity, aluminum smelters and foundries, grain
elevators, pulp and paper, and sludge dewatering. Fournier Industries
Inc. and its subsidiaries employ some 250 people at its facilities in
Thetford Mines and Trois-Rivières (www.fournierindustries.com).
About Capital régional et coopératif Desjardins
With over 104,000 shareholders and $1,473 million in net assets, Capital
régional et coopératif Desjardins is a publicly traded company managed
by Desjardins Venture Capital. The Company contributes to Québec
economic development through several levers developed with its manager,
with CRCD as the driving force. These levers form CRCD's
entrepreneurial ecosystem designed to value and nurture the best of
Québec entrepreneurship. Directly or indirectly through its ecosystem,
CRCD supports the growth of over 390 companies, cooperatives and funds
in various industries spanning all Québec regions. (capitalregional.com)
SOURCE: Capital régional et coopératif Desjardins
For further information:
(for journalists only):
Capital régional et coopératif Desjardins
418-835-8444 or 1-866-835-8444, ext. 3163
Harold Roy, President & CEO
Fournier Industries Inc.