MONTRÉAL, Oct. 25, 2013 /CNW/ - François Ménard, president and
shareholder of Solotech, is pleased to announce three new strategic
financial partners for the company: Claridge, Capital régional et
coopératif Desjardins and Investissement Québec. These changes are part
of a reorganization of the company's share ownership that also includes
the departure of some major shareholders, namely one Quebec-based
institutional investor and Denis Lefrançois, co-president and one of
the main architects of Solotech from its beginnings in 1977.
For François Ménard, "the addition of these three major investors
coincides with the company's plans to expand, through organic growth
and acquisitions, and its global ambitions."
Marie-Claude Boisvert, chief operating officer for Capital régional et
coopératif Desjardins (CRCD), is highly optimistic about this new
partnership. "The enviable position and reputation Solotech has
established in its industry are in large measure why we are
participating in this transaction. With this partnership, CRCD is
pursuing its main mission of offering flagships of the Québec economy
leverage to accelerate their growth and create quality jobs."
"Claridge is very proud to partner with Capital régional et coopératif
Desjardins and Investissement Québec to allow Solotech to pursue its
development as a leader in the entertainment industry," says
Pierre Boivin, president and CEO of Claridge. "We believe that the
company has everything it needs to bolster its presence in Québec and
Canada and become a global leader in its field. This is a strategic
investment for Claridge, and we will do everything possible to help the
management team achieve its ambitions."
For over 35 years, Solotech has been developing technological expertise
that it lends to artists, producers and events in Québec, Canada and
around the world, including Céline Dion, Cirque du Soleil, André Rieu,
Bruce Springsteen, Britney Spears, Michael Bublé, Leonard Cohen and
soon the new Justin Timberlake tour and the Sotchi Winter Olympics.
This vast expertise has enabled Solotech to permanently outfit some of
the most prestigious major venues and amphitheatres around the world.
Claridge, founded in 1987 by Charles Bronfman, is an investment firm
headquartered in Montréal. Today, the firm represents the interests of
the Stephen Bronfman family and manages a diverse portfolio of
third-party investments, as well as direct equity participations in the
food industry, real estate and entertainment sectors.
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.
About Investissement Québec
Investissement Québec's mission is to promote investment growth in
Québec, thereby contributing to economic development and job creation
in every region. The Corporation provides businesses with a full range
of financial solutions, including loans, loan guarantees and equity
investment, to support them at every stage of their development. It is
also responsible for administering tax measures and foreign investment
For further information:
Executive Vice-President and Chief Financial Officer
Tel.: 514 370-5211