The Sherbrooke-based firm offers engineering services and turnkey solutions all around the world
Sherbrooke, April 13, 2021 – The Fonds régionaux de solidarité FTQ Estrie (FRS) is proud to announce a $750,000 investment in Egzatek. The company will use the funds to pursue its growth, diversify its customer base outside of Canada and make acquisitions in strategic geographic markets.
This major investment comes on the heels of Egzatek’s transfer to two new owners with complementary expertise and experience: Pierre-Luc Grenier, the company’s long-standing operations manager, and Steve Lalancette, a seasoned entrepreneur.
This ownership transfer is the culmination of a long reflection and a rigorous process on the part of Egzatek’s two co-founders. Now in their sixties, they wanted to see an internal takeover combined with the addition of new investors. To ensure a smooth transition, the two original partners have agreed to remain active in the company for a period of two years.
An internationally renowned company
Founded in 1992 by Yvon Grégoire and Stéphane Gaudreault, Egzatek has built a worldwide reputation in converting and web handling in the printing market.
In 2015, Egzatek underwent a major restructuring in order to diversify its customer base and expand its markets to enable its customers to remain highly competitive, by offering them four main services: custom design, custom manufacturing, equipment modernization and rework, and equipment transfer-installation.
“The support of the Fonds régionaux de solidarité FTQ Estrie is allowing us to forge ahead with our growth plans as a new generation takes over the reins. Despite the many challenges that lie ahead, we feel extremely privileged to be able to count on the support of Egzatek’s co-founders, who will remain with the organization for the next few years. Our success is based not only on the expertise of our management team but also on the exceptional commitment of our employees. Day in, day out, this team of some 70 experts allows us to innovate, meet our customers’ demands and remain a leader in an ever-changing market,” said Egzatek president Steve Lalancette.
“Investing for a better society also means facilitating power transfers within local businesses that contribute to the prosperity of the regional economy, to the creation of quality jobs and to Québec’s influence beyond our borders. We’re extremely proud to support Egzatek, a company that has stood out by expanding its range of services and adapting to market needs. We wish Pierre-Luc Grenier and Steve Lalancette the utmost success in their new roles,” said Charles Lahaye, regional vice-president of the FRS Estrie, Center-du-Québec and Mauricie.
Business solutions that make a difference
Across its 16 offices, the Fonds régionaux de solidarité FTQ offer small and mid-sized enterprises customized loan and equity solutions. Each product is developed based on the company’s characteristics and the region’s economic reality. Requiring no corporate or personal guarantee, FRS loans do not entail any legal or management fees and are intended to complement the financing offered by traditional financial institutions.
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 24 years. Created in 1996, the Fonds régionaux have invested over $1 billion in 1,400 companies, helping to support nearly 52,000 jobs.
About Egzatek
Egzatek is a team of experts dedicated to its customers to help them remain competitive in a constantly changing market. Specializing in custom design, custom manufacturing and the transfer-installation of production equipment, the company uses its expertise to help its customers improve their efficiency or capacity.
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