Montréal, January 19, 2011 – The Fonds de solidarité FTQ (the “Fonds”) and its Fonds régional Abitibi-Témiscamingue have invested respectively $4.5 million and $1.5 million in Groupe Technosub Inc., a company based in Rouyn-Noranda that manufactures, sells and repairs industrial pumps for the mining industry. The equity investment will be used for a business transfer project.
“Québec, its regions, and all of Canada stand to gain from the mining industry, whose promising outlook bodes well not only for its companies but all their service providers as well,” said Gaétan Morin, Executive Vice-President of investments at the Fonds de solidarité FTQ. “Groupe Technosub has everything it needs to leverage its expertise. Its founder and president, Yvan Blais, has a solid management team in place to take over the reins and craft innovative strategies to ensure the company’s growth. Our investment will help keep ownership in Quebecers’ hands and maintain quality jobs in the Abitibi-Témiscamingue region.”
“The Fonds is the perfect partner to finance our succession plan and growth, which will be fuelled by, among other things, acquisitions,” said Yvan Blais. “In the medium term, we plan on becoming a world-class player and expanding geographically, which will strengthen our position as industry leaders in Québec and Canada.”
Founded in 1983 by Yvan Blais, Groupe Technosub has up to 80 employees and 6 branches across Canada, not including its headquarters in Rouyn-Noranda. The company’s activities are concentrated in three areas: the sale and rental of industrial pumps to mining companies, contractors, quarries and plants; the sale and rental of pumps to the equipment leasing market; and production, repair and product development. Operating in a niche segment, Groupe Technosub is considered a leader in mine dewatering solutions. The secret to the company’s success is its exceptional service quality and large equipment and parts inventory.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ and its network help drive our economy. With net assets of $7.7 billion as at November 30, 2010, the Fund is a development capital investment fund that through its 16 regional funds and 86 local funds channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,052 companies. With its 577,511 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 150,133 jobs. For more information, visit www.fondsftq.com.
- 30 -
Note: The telephone numbers provided below are for the exclusive use of journalists and other media representatives.
Information:
Josée Lagacé, Senior Advisor, Press Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Cellular: 514 707-5180, E-mail: jlagace@fondsftq.com