MONTRÉAL, Dec. 15, 2016 /CNW Telbec/ - Launched in 1986 by Jacques Laroche, JLR develops innovative solutions based on property data. With its many online services, JLR simplifies property data research and facilitates real estate transactions. Used by professionals in various industries, its secure research website allows users to obtain all legal information related to a property, evaluate its market value and prospect for new clients.
In order to support JLR's growth, the Fonds de solidarité FTQ, ECLO Capital and W3 Investments are investing $4.2 million in the Montréal-based company, which has 46 employees.
"This investment will allow us to solidify our foundation and accelerate our growth in North America by deploying new global solutions. We're happy to be able to count on reliable partners with experience in our line of business," said JLR president and CEO Félix Laroche.
"With its expertise, developed over 30 years, JLR is uniquely positioned in its market. The company has demonstrated its ability to innovate and develop new applications to service its customers. The Fonds de solidarité is happy to back the growth of this promising firm," said Alain Denis, Senior Vice-President, Innovation, at the Fonds de solidarité FTQ.
"Here we have a company that fits in perfectly with our investment strategy: in business for 30 years, a prestigious customer base, entrepreneurs with a clear vision and understanding of the market, and strong growth potential," said in turn Nicolas Bélanger of W3 Investments.
Added ECLO's David Waddell: "Everything is in place for JLR to continue moving forward. Its founders' deep expertise, combined with the strategic experience of the new partners and countless applications for JLR's technology, will propel the company to new heights."
In the late 1990s, JLR undertook a large-scale project of photographing more than 1.2 million house facades in Québec. In the early 2000s, JLR launched its transactional website www.jlr.ca, surpassing its competitors to become the first company in Quebec to offer the following online services: a registry of real estate transactions, property listings with photos and geographical maps, maps of real estate market effervescence, comparison tools and appraisal services.
In 2005, JLR acquired its main competitor, the Québec-based subsidiary of the American company Teela. In 2009, thanks to the creation of a major partnership with an American company, JLR integrated more than 90% of American property information, making it one of Canada's biggest distributors of property data.
In 2011, the founder's son Félix Laroche and his business partner Christian Boivin took over the leading role of a rapidly growing company. These young entrepreneurs quickly implemented several new services, such as a mobile application complete with GPS search capabilities and Evalweb, a real estate appraisal subsidiary.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $11.7 billion in net assets as at May 31, 2016, the Fonds has helped create and maintain 187,414 jobs. The Fonds has more than 2,600 partner companies and 618,551 shareholder-savers. www.fondsftq.com.
About Eclo Capital
ECLO Capital is a private investment company operating mainly in Québec. ECLO has a diversified portfolio of private equity and real estate investments.
About W Investments
W Investments is a private Québec investment firm that targets businesses with high growth potential. Its partners use an entrepreneurial approach, working closely with companies to maximize their strengths. A springboard for talent, W Investments ensures the future of the next generation of entrepreneurs and guarantees growth while bringing in added value, which makes all the difference. www.winvestments.ca
SOURCE JLR
For further information: Press contact: Patrick McQuilken, Senior Advisor, Press Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Mobile: 514 703-5587, Email: [email protected]
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