MONTREAL, Jan. 19 /CNW Telbec/ - The Fonds de solidarité FTQ (the
"Fonds") and its Fonds régional Abitibi-Témiscamingue have invested
respectively $4.5 million and $1.5 million in Groupe Technosub Inc., a
company based in Rouyn-Noranda that manufactures, sells and repairs
industrial pumps for the mining industry. The equity investment will be
used for a business transfer project.
"Québec, its regions, and all of Canada stand to gain from the mining
industry, whose promising outlook bodes well not only for its companies
but all their service providers as well," said Gaétan Morin, Executive
Vice-President of investments at the Fonds de solidarité FTQ. "Groupe
Technosub has everything it needs to leverage its expertise. Its
founder and president, Yvan Blais, has a solid management team in place
to take over the reins and craft innovative strategies to ensure the
company's growth. Our investment will help keep ownership in Quebecers'
hands and maintain quality jobs in the Abitibi-Témiscamingue region."
"The Fonds is the perfect partner to finance our succession plan and
growth, which will be fuelled by, among other things, acquisitions,"
said Yvan Blais. "In the medium term, we plan on becoming a world-class
player and expanding geographically, which will strengthen our position
as industry leaders in Québec and Canada."
Founded in 1983 by Yvan Blais, Groupe Technosub has up to 80 employees
and 6 branches across Canada, not including its headquarters in
Rouyn-Noranda. The company's activities are concentrated in three
areas: the sale and rental of industrial pumps to mining companies,
contractors, quarries and plants; the sale and rental of pumps to the
equipment leasing market; and production, repair and product
development. Operating in a niche segment, Groupe Technosub is
considered a leader in mine dewatering solutions. The secret to the
company's success is its exceptional service quality and large
equipment and parts inventory.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ and its network help drive our economy. With net assets of $7.7 billion as at November 30, 2010, the Fund is a
development capital investment fund that through its 16 regional funds
and 86 local funds channels the savings of Quebecers into investments
in all sectors of the economy to help create and maintain jobs and
further Québec's economic growth. The Fund is a partner, either
directly or through its network members, in 2,052 companies. With its
577,511 owner-shareholders, it has helped, on its own or with other
financial partners, to create, maintain and protect 150,133 jobs. For
more information, visit www.fondsftq.com.
SOURCE SOLIDARITY FUND QFL
For further information:
Note: The telephone numbers provided below are for the exclusive use of journalists and other media representatives.
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone: 514 850-4835
Cellular: 514 707-5180