Canadian pension fund organization the Caisse de dépôt et placement du Québec has made an investment in Morgan Schaffer Corp., which provides insulating oil testing services to businesses in the electrical industry. LaSalle, Québec-based Morgan Schaffer obtained a combined C$5.7 million in private equity and a loan from the Caisse. The proceeds will be used to fund the company’s global expansion plans.
PRESS RELEASE
The Caisse de dépôt et placement du Québec invests $5.7 million in Québec-based Morgan Schaffer
MONTRÉAL, Dec. 13, 2012 /CNW Telbec/ – The Caisse de dépôt et placement du Québec announced a $5.7-million investment in Morgan Schaffer, a Québec company recognized as a world leader in transformer monitoring solutions.
The Caisse carried out this new investment by way of a loan and a private equity placement. In particular, the investment will enable Morgan Schaffer—of which the Caisse has been a partner since 1999—to finance various international expansion projects.
“We are very pleased to be contributing to the success of a long-standing partner such as Morgan Schaffer, an innovative Québec company with an international reputation,” said Normand Provost, Executive Vice-President, Private Equity, at the Caisse. “The Caisse is constantly looking for opportunities to invest in medium-sized businesses presenting solid track records and good growth prospects.”
“The support from a long-term investor like the Caisse has significantly contributed to the growth of our company over the years,” emphasized Richard Bérubé, Chief Executive Officer of Morgan Schaffer. “For a company like ours, innovation and exports are critical to our success. It is therefore important to work with a financial partner that has a deep understanding of the nature of our operations and our industry.”
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
For further information:
Maxime Chagnon
Senior Director, Media Relations
514 847-5493
mchagnon@lacaisse.com
Photo courtesy of Shutterstock.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.