Fonds régionaux de solidarité FTQ Bas-Saint-Laurent Invest $495,000 in Isolation A.B.F.
With 7 businesses supported in 2018-2019, the Fonds régionaux de solidarité FTQ Bas-Saint-Laurent injected more than $4.2 million in the local economy
Highlights
• In fiscal 2018-2019, the Fonds régionaux de solidarité FTQ Bas-Saint-Laurent invested $4,246,995 in seven regional companies.
• The partner companies are: Armoires Perreault, Bois CFM Inc., Inno-3B Inc., Isolation A.B.F. Inc. (Isolation Tousignant), Kamco Construction Inc., Méga-Scène Inc. and Narwhal Plumbing & Heating Ltd.
• Since their creation in 1996, the Fonds régionaux de solidarité FTQ Bas-Saint-Laurent have invested $39.1 million in the region.
Rimouski, June 12, 2019 – The Fonds régionaux de solidarité FTQ Bas-Saint-Laurent invested $495,000 in Isolation A.B.F. Inc. in the past year, making it possible for entrepreneurs Kathleen and Jean-Philippe Dionne to acquire the company. This investment was one of seven made in 2018-2019, bringing the annual total to over $4.2 million for the FRS Bas-Saint-Laurent.
Already the owners of Isolation Tousignant in Rivière-du-Loup, entrepreneurs Kathleen and Jean-Philippe Dionne wanted to diversify their activities and expand their service offer. This motivated them to acquire Insulation A.B.F., a company in Rimouski specializing in the thermal insulation of mechanical systems for non-residential buildings. With these two businesses, they are now capitalizing on greater synergy to better serve complementary markets.
“The FRS Bas-Saint-Laurent played a key role in this deal because they knew Isolation ABF and facilitated the discussions that led to the acquisition. We appreciated their support at every step of the process. We’re now in a good position to increase our market share by offering a full range of products and services and to position ourselves as a leader in the insulation of buildings and mechanical systems in Bas-Saint-Laurent and Gaspésie,” said Jean-Philippe Dionne, president of Isolation Tousignant.
“In terms of the number of investments made and their total amount, the last year was among the best for the Fonds régionaux de solidarité FTQ Bas-St-Laurent. With dynamic businesspeople like Kathleen and Jean-Philippe Dionne, we doubled the previous year’s investment level. In 12 months, I look forward to announcing that we further contributed to our region’s economic by doubling for a second straight year our investments,” said Frederic Bernier, Regional Vice President, Fonds de solidarité FTQ, Bas-Saint-Laurent and Gaspésie-Îles-de-la-Madeleine regions.
A well entrenched and healthy FRS network
In fiscal 2018-2019, the Fonds régionaux de solidarité FTQ invested a total of $120,662,030 in 117 Québec businesses. This was an exceptionally strong year in terms of investments and number of files handled since the creation of the Fonds régionaux in 1996.
“Thanks to the Fonds régionaux, we’ve been able to develop a strong network on the ground and boost our presence in every region of Québec. Our investment teams and board members are very close to the business communities they serve. They are therefore well placed to understand local issues and propose financing solutions that meet the needs of the region’s entrepreneurs. These solid results attest to the strength of our network and our contribution to the vitality of the regional economy,” concluded Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ.
About the Fonds régionaux de solidarité FTQ
The Fonds régionaux de solidarité FTQ have been participating in the economic development of Québec’s regions for over 23 years. An integral part of the Fonds de solidarité FTQ network, the Fonds régionaux have invested $918 million in 1,434 projects since their inception in 1996, helping to create, maintain or protect 51,846 jobs.
About Isolation Tousignant/Isolation A.B.F.
Founded in 1972, Isolation Tousignant was acquired by Kathleen and Jean-Philippe Dionne in 2009. Based in Rivière-du-Loup, Tousignant Insulation specializes in thermal building insulation, soundproofing, fireproofing and waterproofing for the residential and commercial sectors. Acquired by Kathleen and Jean-Philippe Dionne in 2019, Isolation A.B.F. specializes in thermal insulation for plumbing, piping, refrigeration and ventilation, and thus focuses more on the commercial, institutional and industrial sectors. Together, they serve the residential, commercial, institutional, industrial and civil engineering markets of Bas-Saint-Laurent and Gaspésie.
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