Fonds régionaux de solidarité FTQ Gaspésie – Îles-de-la-Madeleine FTQ – Bas-Saint-Laurent Invest $20.6 Million

Saint-Arsène and Rimouski, May 24, 2024

In fiscal 2023-2024, the Fonds régionaux de solidarité FTQ – Gaspésie – Îles-de-la-Madeleine – Bas-Saint-Laurent (FRS) invested $20.6 million in the region, supporting 14 companies, including Réfrigération Air C and CB4S.

$2 million investment in CB4S

Founded in 2003, CB4S is a general contractor with over 20 years of experience in construction. CB4S is a passionate company with recognized expertise in large-scale projects and sectors, including industrial, commercial, institutional and civil engineering. It is headquartered in Saint-Arsène, near Rivière-du-Loup, with divisions in Rimouski and Gaspé.

"The support of the FRS will enable us to develop new projects and continue growing. We're proud to have the support of such a major regional investor. It's a real vote of confidence," said David Dubé, President of CB4S.

$1 million investment in Réfrigération Air C

Réfrigération Air C started out servicing the commercial refrigeration market before diversifying into the industrial and construction sectors in 1998. In recent years, Réfrigération Air C has developed expertise in serving construction sites in Nord-du-Québec.

The FRS investment will enable the company to continue growing by carrying out new projects in the Nord-du-Québec region.

"The Fonds régionaux's investment demonstrates their willingness to support our company's growth objectives. We are thrilled to welcome this regional investor and to draw on their team's expertise," said René Côté, President of Réfrigération Air C.

"The FRS are proud to back the growth of these companies, a source of pride in the region. We believe they have the potential to reach new heights, and we will be there to support their endeavours," said David Lord, Regional Vice-President, Fonds régionaux de solidarité FTQ – Gaspésie – Îles-de-la-Madeleine – Bas-Saint-Laurent.

$221 million for the FRS network

In this last fiscal year, the 17-member FRS network invested more than $98 million, or nearly half of the total invested, to support SME business transfers. The financing and guidance offered by the FRS have helped keep the head offices of 57 small and mid-size businesses in Québec.

Support for business transfers contributed to a record year for the network, which invested $221.3 million in 128 companies. This is the seventh consecutive year in which the network has set a record.

"To have a strong local economy, our SMEs must remain in the hands of Quebecers who live in the region. That's why we prioritize business transfers, as evidenced by the amounts invested. This is the second year in a row that almost half of our network's investments have been dedicated to business succession," said Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ.

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 769,000 Quebecers into local investments. The Fonds régionaux have invested $1.8 billion in more than 1,800 companies since their inception in 1996.

With 17 offices across Québec, 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.

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