MONTREAL, Feb. 26, 2014 /CNW Telbec/ - The Fonds Valorisation Bois (FVB), managed by the Fonds de solidarité FTQ, today announced an investment in Groupe Lebel to enable the Rivière-du-Loup company to pursue its expansion and consolidation following its recent acquisition of Groupe Cambium.
Groupe Lebel is one of the few lumber manufacturers in Eastern Canada to be vertically integrated, from harvesting to the delivery of finished goods. Founded in 1956, the company has close to 400 employees across its five sawmills and eight value-added production plants.
"Groupe Lebel has a solid business model that focuses on producing specialized products," said Gaétan Morin, Executive Vice-President (corporate development and investments) at the Fonds de solidarité FTQ. "This makes the company an excellent partner for the Fonds Valorisation Bois, which looks to invest in successful businesses to help them develop promising niches."
"The recent acquisition of Cambium has made Groupe Lebel a stronger company and created greater synergy," said Groupe Lebel president and CEO Frédéric Lebel. "Thanks to the support of the Fonds Valorisation Bois, Groupe Lebel now has almost 400 employees whose goal is to provide our customers with products that are responsive to their needs."
The details of the FVB investment and the Cambium acquisition will not be made public for business reasons.
About the Fonds Valorisation Bois, LP
The Fonds Valorisation Bois invests in high value-added secondary and tertiary processing projects. The Fonds targets successful companies to help steer their activities toward promising niches and in so doing, build an innovative forest industry that will generate wealth and lasting jobs for Quebecers. Endowed with a 5-year $170 million budget ($95 million from the Québec government and $75 million from the Fonds de solidarité FTQ), the limited partnership is managed by the Fonds de solidarité FTQ, which due to its active presence in the sector, has the necessary expertise and resources.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $9.7 billion as of November 30, 2013, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in close to 2,400 companies. With its more than 615,000 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect more than 170,000 jobs. For more information, visit www.FondsFTQ.com.
About Groupe Lebel
Groupe Lebel is a family business whose origins date back to 1956 that operates softwood lumber sawmills, in value added wood products manufacturing and in wood preservation treatment. Groupe Lebel is a regional leader with its head office established in Rivière-du-Loup, Québec, that services its customer base through its 5 sawmills, 4 wood products manufacturing facilities and 4 wood preservation treatment plants.
Image with caption: "Frédéric Lebel, president and CEO, Groupe Lebel (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20140226_C7593_PHOTO_EN_37175.jpg
SOURCE: Fonds de solidarité FTQ
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