Caisse invests $5 mln in Napec’s buy of PCT Contracting

The Caisse de dépôt et placement du Québec has invested $5 million in Napec (TSX: NPC), a Drummondville, Québec-based builder of electrical transmission and distribution grids, as well as networks for natural gas utilities. The investment was made as part of Napec’s acquisition of PCT Contracting LLC, a service provider to the gas utility segment in New York. The US$33 million deal is expected to strengthen Napec’s presence in the United States and increase its service capabilities, the Caisse said. The pension fund has backed Napec since 2011.

PRESS RELEASE

La Caisse further invests in NAPEC – Acquisition of U.S. company PCT Contracting LLC

MONTRÉAL, Nov. 3, 2016 /CNW/ – Caisse de dépôt et placement du Québec announced today its $5-million investment in NAPEC (TSX: NPC). The company, whose head office is located in Drummondville, builds and maintains electrical transmission and distribution grids, as well as networks for natural gas utilities.

As announced earlier today by NAPEQ, this investment is part of the acquisition of PCT Contracting LLC, an energy service provider in the Greater New York area.

“Since 2011, la Caisse has supported NAPEC’s growth, particularly in the Ontario and U.S. markets,” said Christian Dubé, Executive Vice-President, Québec at la Caisse. “Through this new investment, the company will strengthen its presence in the United States and increase its capabilities to serve new clients.”

PCT provides turnkey solutions to utility service providers and industrial companies, with expertise in the installation, maintenance and repair of natural gas infrastructure. PCT has a highly trained workforce of 130 employees.

ABOUT NAPEC
NAPEC is a company operating in the energy sector. The Corporation is a leading provider of construction and maintenance services to the public utility and heavy industrial markets, mainly in Quebec, Ontario, and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution systems and natural gas networks. The Corporation also installs gas-powered and electric-powered heavy equipment for utilities, gas-fired industrial power plants, petrochemical facilities, and solar panel farms in North America. The Corporation also offers environmental construction and road matting services.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2016, it held $254.9 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

For further information: Jean-Benoît Houde, Senior Advisor, Media Relations, +1 514 847 5493, jbhoude@cdpq.com

Photo courtesy of Thirau Inc