The Fonds régionaux de solidarité FTQ – Montréal and Nicolas Pallares Become Magellan Group’s New Owners

Montréal, March 26, 2024

The Fonds régionaux de solidarité FTQ – Montréal (FRS) and Nicolas Pallares, Vice-President of Business Development and Partnerships at Magellan Group have acquired Magellan Group. The new owners will be taking the reins from Robert Favreau, Sonia Riverin and Claude Béliveau.

Founded in 1975, under the name St-Amour Ltd., the innovation-driven company became a leader in the recruitment space. Following its rebranding as Magellan Group in 2018, the company went on to create four distinct divisions : StratoExec, St-Amour, Hubble and more recently, ExoTalent. Magellan provides employers with strategic recruitment services and customized solutions, as well as consulting services throughout the recruitment process.

In its last fiscal year, more than half of the FRS network's investments — $104.5 million — were in SME succession projects. The financing and guidance offered by the FRS have helped keep the head offices of 78 small and mid-sized businesses in Québec.

"The new owners will continue to follow Magellan's vision and mission and we are very confident that the company's future is secure," said Magellan's outgoing president, Robert Favreau.

"This investment from a solid, credible partner like FRS Montréal will make all the difference to Magellan's future," said Nicolas Pallares, the company's new president and owner. "The FRS will enable us to strengthen our positioning and continue to apply our unique recruitment strategies. I'm proud to be able to continue the legacy that Robert, Sonia and Claude have worked so hard to build," added Mr. Pallares.

"We are delighted to add Magellan Group to the FRS portfolio. The FRS have long been a key player in promoting business succession in Québec," said Peter Rayes, Regional Vice-President of the Fonds régionaux de solidarité FTQ – Montréal. "This partnership with a successful company that offers customized recruitment solutions is aligned with our mission. Our team is well placed to support Magellan in its future projects, enabling it to achieve its objectives," concluded Mr. Rayes.

About Magellan Group

Magellan Group is a company specialized in the recruitment of professionals, managers and executives. The strategy offered by the group goes beyond traditional recruitment, providing complete solutions. Clients can benefit from a variety of consulting services throughout the recruitment process, right up to and including the integration of new employees. Magellan has made their expertise available in order to offer a complete range of support and services that are both innovative and meticulous. Visit magellantalent.ca or LinkedIn.

About the Fonds régionaux de solidarité FTQ

A part of the Fonds de solidarité FTQ network, the Fonds régionaux de solidarité FTQ help further regional economic development in Québec by channelling the savings of more than 753,000 Quebecers into local investments. The Fonds régionaux have invested $1.5 billion in more than 1,700 companies since their inception in 1996.

- 30 -