A Major Transaction for a Saguenay Start-Up

Group Hewitt invests in the innovative expansion of Propulsa Innovations!

SAGUENAY, QC, Sept. 7, 2022 /CNW Telbec/ - Propulsa Innovations announced today that they have reached a significant agreement with Hewitt Group and two other financial partners representing an active participation in the ownership of the company to ensure its continued development.

The Epura system is available in different versions (CNW Group/Propulsa Innovations)

An optimal partnership, aligned for all participants, has been created following an initial meeting held last October. As per Jean-Benoît Dumais, President of Propulsa, this meeting will forever be marked in Propulsa's history: "This meeting, while very important, was informal, friendly and without any expectations. Initially, the objective was to help plan our growth. One thing led to another, and we realized that we really did have similar values and that a partnership would be ideal for our international growth."

Hewitt Group Inc. was formed following the sale of Hewitt Equipment Limited in late 2017. Having operated an important Caterpillar dealership for over 60 years, Hewitt Group has extensive expertise in industrial services and equipment. David Hewitt, President of Hewitt Group, is very enthusiastic about investing in an industrial start-up: "We formed Hewitt Group with the objective of remaining active investors and builders in the Eastern Canadian economy with a long-term approach and by collaborating with the management teams. The values, the drive of the team, and the strong innovation potential behind the patented EPURA technology make Propulsa Innovations an ideal partner for Hewitt Group."

In addition to Hewitt Group, the Propulsa team will have two additional investors with extensive operational expertise.

About Propulsa Innovations
Propulsa Innovations was founded in Saguenay, Québec in 2016 and has created a unique self-cleaning filtration system which has been patented in over 32 countries. EPURA technology eliminates the need for filter replacement while exceeding the performance of original filter systems in high dust environments. This innovative system can be installed in operating cabins, on the air intake of diesel engines or on other industrial filtration systems. In addition to drastically reducing the number of filters to be changed, EPURA technology reduces fuel consumption. This reduces the emission of pollutants into the atmosphere.

About Hewitt Group
Hewitt Group Inc. was formed in late 2017 following the sale of Hewitt Equipment Limited, the operating company of the Hewitt family since 1952. With the objective of perpetuating the family's legacy, Jim Hewitt and his son David decided to form a direct private equity group to remain active investors and builders in the Eastern Canadian economy.

Hewitt Group offers a long-term approach, with an established record in mergers and acquisitions. Its long history has been to focus on employee development, collaboration, continuous innovation, reinvestment and performance.

SOURCE Propulsa Innovations

Pierre-Luc Gagnon, Sales Coordinator, Propulsa Innovations, [email protected], Tel.: [phone]; Kim Anderson, Vice President, Hewitt Group, [email protected], Tel.: [phone]