Montréal, April 13, 2010 – Premier Tech ltée, a Rivière-du-Loup company specializing in horticulture, industrial equipment and green technology, has completed one more step in its growth plan by acquiring Sure-Gro Holdings Inc. The Solidarity Fund QFL (the “Fund”) helped make this transaction a reality by investing $10 million in Premier Tech.
Based in Ontario, Sure-Gro is Canada’s leading manufacturer and marketer of consumer lawn and garden products with the broadest portfolio of brands and products in the industry, including CIL®, CIL GolfGreen®, Wilson®, Nature Mix® et Alaskan.® Sure-Gro has a staff of 225 people, bringing the total number of employees at Premier Tech to almost 2,000.
Premier Tech is a long-standing partner of the Fund, which is proud to contribute to its expansion. In fact, last year the Fund invested $30 million to back the company’s development plan, enabling it to make two large acquisitions in the U.S. and Europe.
“In our view, these strategic, structuring investments give our shareholders real value and have a positive impact on the Québec economy. With this latest acquisition, Premier Tech will further strengthen its operations in Québec as well as assert its leadership in the Canadian horticulture and agriculture industries. We believe strongly in the management team at Premier Tech and will continue to support them,” said the Fund’s executive vice-president of investments, Gaétan Morin.
About the Solidarity Fund QFL The Solidarity Fund QFL helps drive our economy.
With net assets of $7.0 billion as at November 30, 2009, the Fund is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,000 companies. It currently has nearly 571,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect nearly 143,000 jobs. For more information, visit
www.fondsftq.com - 30 –
Note: The telephone number provided below is for the exclusive use of journalists and other media representatives. Source: Josée LagacéSenior Advisor, Press Relations and Communications
Fonds de solidarité FTQTelephone: 514 850-4835