MONTRÉAL, Oct. 22, 2014 /CNW Telbec/ - NOVACAP, a Canadian leader in the private equity field, announces the launch of NOVACAP Industries IV, a new investment fund that aims to raise $425 million, as well as an initial major investment by this fund in KDC, a Québec manufacturer of beauty- and personal-care products.
NOVACAP has already completed commitments for an initial $300-million investment in NOVACAP Industries IV and expects to meet its $425-million goal in the next few months. This initial closing was financed mainly by the Caisse de dépôt et placement du Québec, who invested $80 million, the Fonds de solidarité FTQ, Investissement-Québec, Export Development Canada (EDC), Fondaction CSN and other institutional partners. The new fund will seek to invest mostly in medium-sized companies in the industrial and manufacturing sectors, as well as in services, distribution and retail sales platforms.
The new fund has also announced an initial major investment in KDC, a front-line contract manufacturer in the health- and beauty-care industry. KDC is headquartered in Knowlton, Québec.
"NOVACAP Industries IV intends to maintain the business model of the previous fund, which is essentially to partner with entrepreneurs and managers, investing in their businesses and supporting their growth that typically starts with Québec and Ontario, then expands to the rest of Canada and internationally," explains Jacques Foisy, President and Managing Partner of NOVACAP Industries.
Over the last 12 months, NOVACAP has raised more than $1 billion in funds, including $330 million in investments and future commitments toward KDC's growth.
With $1.5 billion of assets under management, NOVACAP is one of Canada's leading private equity firms. Since 1981, its distinct partnership approach based on operational expertise has helped more than 50 companies accelerate their growth and maximize their value. NOVACAP ranks among the top private equity firms in North America. The results of NOVACAP I and NOVACAP II rank NOVACAP in the first quartile of the funds classified by Thomson Venture Economics. For more information, please consult: www.novacap.ca.
For further information: Valérie Gonzalo, 514 626-6976, [email protected]