The name of the new company will be Exo-s
MONTREAL, Sept. 6, 2012 /CNW Telbec/ - Capital régional et coopératif Desjardins today announced the acquisition of Camoplast Solideal's Thermoplastic Division in partnership with the company's management team. To be named Exo-s following the transaction, which includes all operations related to the development, manufacturing and sale of injection molded and blow molded products, the company will be headquartered out of Sherbrooke in the Estrie region, enabling it to further strengthen its bases.
Emmanuel Duchesne, Exo-s' new Chief Executive Officer, explained that "by becoming a standalone business, the team we have will be able to focus on accelerating our growth perspectives. With the support of our experienced, qualified and dedicated staff, we can build on Camoplast Solideal's robust entrepreneurial culture of excellence. It underscores our commitment to being a leader in the injection molded and blow molded products industry, and we would like to thank Capital régional et coopératif Desjardins for their confidence in us."
Marie-Claude Boisvert, Chief Operating Officer of Desjardins Venture Capital, the manager of Capital régional et coopératif Desjardins, declared the partnership with Exo-s a shining example of support for the best in entrepreneurship. "By building bridges between generations of entrepreneurs, we ensure that Québec's most promising businesses continue to grow and provide economic drive for the regions where they were born and raised."
Pierre Marcouiller, Chairman and CEO of Camoplast Solideal, expressed delight over the partnership with Desjardins. "We're extremely pleased that a partner like this that has been there for us for 25 years is taking a hand in passing our business forward with the management team in place. The transaction will enable Exo-s to pursue its own business objectives in keeping with its own market vision. With an outstanding team and a history of innovation, value added products and customer service, the company can continue to grow and prosper."
Exo-s is a leading supplier of injection molded and blow molded automotive products such as engine covers, thermal systems (HVAC), coolant reservoirs, washer reservoirs and air induction systems. The company also manufactures specialty products for a range of markets including agriculture, all-terrain utility vehicles, household appliances, snowmobile skis, plastic wheels, printers, toys and recreational vehicles. Exo-s has over 500 employees across its Sherbrooke head office and research centre and Richmond plant in the Estrie region and facilities located in Three Rivers, Coldwater and Centerville, Michigan. The company also maintains a sales office in Troy, Michigan.
About Camoplast Solideal
Camoplast Solideal is a world leader in the design, manufacture, and distribution of off-road tires, wheels, rubber tracks, undercarriage systems and components serving the material handling, construction, agriculture and powersports industries. On the strength of a global team of more than 7,500 dedicated employees, Camoplast Solideal operates advanced R&D centres, as well as manufacturing plants in the U.S., Canada, Europe and Asia. Products are distributed in the replacement market through a worldwide distribution network. As a strategic supplier for leading Original Equipment Manufacturers (OEM), the company also delivers products directly to assembly lines.
About Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. With close to 105,000 shareholders and net assets of $1,350 million, the Company contributes to economic development by valuing and nurturing the best of Québec entrepreneurship. Directly or indirectly through partner funds, CRCD supports the growth of more than 300 companies, cooperatives and funds in various industries spanning all Québec regions. (www.capitalregional.com)
SOURCE: Capital régional et coopératif Desjardins - Mouvement Desjardins
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