MONTREAL, Feb. 15, 2012 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec today announced an overall investment of $16.7 million in
Novatech Group Inc. ("Novatech"), one of the largest Canadian
manufacturers of doorglass components. The founder of the company,
whose facilities are based in Ste-Julie, is disposing of a portion of
its interest in the Caisse in connection with a program to
progressively transfer ownership to its successors.
"Investing in Novatech, a Québec manufacturing leader with 30 years
under its belt, is another way for the Caisse to contribute to the
success of a Québec company," explained Normand Provost, Executive
Vice-President, Private Equity and Chief Operations Officer.
"We are thrilled to be able to rely on the Caisse's support while the
company explores various growth projects and sets out to write a new
chapter in its history," said Raymond Ouellette, Chairman of Novatech's
Board of Directors.
"We are proud of the vote of confidence the Caisse has shown towards the
management and successors through this investment. This partnership
will bring us closer to our goal of achieving excellence," explained
Harold Savard, President and General Manager of Novatech,
"A number of Québec entrepreneurs will soon have to plan the transfer of
their companies to the next generation of leaders. The Caisse expects
to continue to be a key player contributing to these companies' growth
while generating returns for its depositors," added Normand Provost.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2010, it held $151.7 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
The Novatech Group was founded in 1982 and today has a presence in more
than 15 countries in the world. Novatech manufactures entry doors,
doorglass, retractable mosquito nets and PVC and aluminium patio doors.
Their clients are exclusively prehangers of finished products. In 2012,
the Novatech Group regrouped half a dozen subsidiaries with more than
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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Senior Director, Media and Public Relations