Highlights
- Fonds régionaux de solidarité FTQ - Chaudière-Appalaches extends a $500,000 loan to Inovia to help it remain in Québec hands following an ownership transfer.
- Inovia is a Beauce-based company specializing in custom automated equipment solutions for the food, biochemical and industrial markets.
- Inovia’s new shareholders are Dominic Brassard, an entrepreneur with extensive manufacturing experience, and two key company managers, Serge Routhier and Michel Marcoux.
Sainte-Marie, April 10, 2018 – The Fonds régionaux de solidarité FTQ - Chaudière-Appalaches is investing $500,000 in Inovia Inc., a company based in Sainte-Marie, a city in Québec’s Beauce region, that designs, manufactures and installs custom production equipment for the food processing, pharmaceutical, biotech and industrial markets.
The loan is intended to support the ownership transfer of a company with deep roots in the region. After spending a year learning all about Inovia’s operations, prospective buyer Dominic Brassard, a seasoned entrepreneur with extensive knowledge of the manufacturing sector, is partnering with two shareholders who as salespersons, already play key roles within the organization: Serge Routhier and Michel Marcoux. Together, the new team will ensure the company’s continuity and preservation of its invaluable know-how.
Quotes
“In Beauce since 2006, Inovia enjoys an excellent reputation and is known for its expertise and ability to develop custom solutions for its customers. We are confident that by leveraging the talent and skills of the operating team, Mr. Brassard will ensure Inovia’s future and take the company into new niches.”
Jean Roy, Regional Vice-President, Québec City and Chaudière-Appalaches, Fonds régionaux de solidarité FTQ
“We’re proud that the Fonds has confidence in us and is providing the financial support we need to move ahead with this acquisition and cement the future of Inovia, which already has an enviable track record. We have solid projects that will ensure our growth, in particular, expanding our activity sectors, and are privileged to have the Fonds’ support.”
Dominic Brassard, President and Chief Executive Officer, Inovia Inc.
About the Fonds régionaux de solidarité FTQ
The Fonds régionaux de solidarité FTQ have been helping to further regional economic development in Québec for over 20 years. An integral part of the Fonds de solidarité FTQ network, the Fonds régionaux have invested $697 million in 1,095 projects since 1996, helping to create, maintain or protect close to 39,400 jobs.
About Inovia
Inovia offers tailored solutions in automated equipment for the food processing, pharmaceutical, biotechnology and industrial markets. Inovia harnesses its expertise in various technology sectors to develop innovative automated equipment solutions such as robotic cells, servomotors, programmable PLCs, communication networks and mechatronics. Inovia offers turnkey projects, from acceptance of the mandate, to the solution’s development, design and production, and culminating with its installation and commissioning. The company also offers equipment consulting services.
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