Caisse de dépôt et placement du Québec and private equity fund Ardian entered into exclusive talks to acquire a significant stake in airport ground support business Alvest, the firms said on Wednesday.
Canada’s second-biggest public pension fund and the French private equity investor are set to acquire the stake from France’s Sagard Private Equity Partners. The terms of the deal were not disclosed.
Paris-based Alvest designs, manufactures and distributes technical products for the aviation industry and has more than 1,800 employees. It operates 10 factories in the United States, Canada, France and China.
(Reporting by Dasha Afanasieva; Editing by Susan Fenton)
(This story has been edited by Kirk Falconer, editor of PE Hub Canada)
Photo courtesy of Alvest