MONTREAL, Feb. 27 /CNW Telbec/ - Les Produits Neptune Inc. and Neptune
International Inc. (collectively referred to "Neptune"), a leading North
American designer and manufacturer of luxury bathroom fixtures, is pleased to
announce that it has teamed up with Champlain Financial Corporation, a
Canadian private equity investment firm, in partnership with the Company's
founders and senior management team, to provide the Company with capital to
accelerate its North American expansion.
The Company manufactures a variety of bathtubs, showers and related
accessories at its facility located in St-Hyacinthe, Quebec. Neptune was
founded in 1996 by Mr. Daniel Marcoux and Mr. Gaston Truchon, who will
collectively retain a significant equity stake in the Company and will remain
actively involved in the ongoing development of Neptune's long-term strategy.
Concurrent with closing of the transaction, Neptune has also retained
Mr. Jean Rochette, a seasoned industry executive, who will assume the role of
President and Chief Executive Officer of the Company. Mr. Rochette was
formerly Vice President and General Manager at MAAX between 2000 and 2005.
Furthermore, Mr. Rochette is also part of the investor group for the
transaction which also includes Fondaction CSN, www.fondaction.com.
"We are extremely excited by the business that Daniel and Gaston have
successfully built over the past 12 years and we see tremendous opportunity to
continue growing Neptune's market share through a North American expansion
strategy. Neptune's products are widely recognized and respected for their
sophisticated design and excellent quality, and we intend to capitalize on
this strong positioning going forward" says Mr. Rochette.
About Les Produits Neptune Inc. and Neptune International Inc.
A Quebec entrepreneurial success story in the luxury bathroom fixture
arena, Les Produits Neptune Inc. and Neptune International Inc. were both
founded 12 years ago. The Company carries a wide array of highly customized
bathtubs, jet systems, showers and related accessories which are sold
throughout North America. The Company's leadership position has been attained
through its focus on quality, cutting edge designs, and dedication to its
specialized expert retail channels.
The Company manufactures its showers and bathtubs at its facility in
St-Hyacinthe, Quebec and employs a highly dedicated team of 250 employees.
For more information, visit: www.bainsneptune.com
About Champlain Financial Corporation
Champlain Financial Corporation, a Canadian private equity firm based in
Montreal, along with its U.S. affiliated private equity fund manager,
Champlain Capital Management LLC, has been building a diversified private
equity portfolio with a series of investments throughout Canada and the
United States. Champlain's core focus is to serve as a value-added partner in
providing equity capital for small and middle-market companies.
For further information:
For further information: Mr. Jean Rochette, President & Chief Executive
Officer, Les Produits Neptune Inc., (450) 773-7058; Mr. Jean-Stéphane
Yansouni, Principal & Chief Financial Officer, Champlain Financial
Corporation, (514) 282-3585