Private equity fund Capital régional et coopératif Desjardins, managed by Desjardins Capital de risque, and Investissement Québec have jointly invested $10.25 million to acquire Alyotech Canada, the subsidiary of French company Alyotech SAS. Montréal-based Alyotech Canada, a provider of information technology consulting and solutions, and formerly known as Groupe Conseil OSI, was purchased by Alyotech in 2006. The managing team of the rebranded OSI partnered in the buyout transaction.
Leading information technology consulting firm bought back from French interests
OSI Consultant Group is once again a Québec-owned company following a buyout by Investissement Québec and Capital régional et coopératif Desjardins
MONTREAL, April 22, 2013 /CNW Telbec/ – Minister for Industrial Policy and the Banque de développement économique du Québec Élaine Zakaïb, and Marie-Claude Boisvert, Chief Operating Officer of Desjardins Venture Capital, the manager of Capital régional et coopératif Desjardins (CRCD), announced today the buyout of Alyotech Canada, owned by French company Alyotech SAS, in partnership with the existing management team of OSI Consultant Group.
This acquisition was made possible through investments of $8.25 million by Investissement Québec and $2 million by CRCD in the form of debt and equity.
“We’re delighted with the outcome in this matter. It brings back to Québec the head office of OSI Consultant Group, which was acquired in 2006 by Alyotech and had operated since then under the name Alyotech Canada,” stated Minister Zakaïb. Bringing the decision-making centre back home will make it possible to put OSI Consultant Group’s ambitious growth plan into effect. Retaining this expertise and these strategic operations in Québec was vital because the firm serves a number of flagship companies in our local landscape”.
Marie-Claude Boisvert was elated by the buyout of a homegrown company, saying, “The 103,000 shareholders of Capital régional et coopératif Desjardins count on us to protect the ownership of our businesses. This will result in economic spinoffs both for Montréal and for the regions. As a patient investor, we look forward with pride to the growth of OSI Consultant Group.”
The Minister of International Relations, La Francophonie and External Trade and Minister responsible for the Montréal Region, Jean-François Lisée, underscored the importance of this transaction for the metropolitan area. “The Québec IT and communications industry plays a very significant role in the economy of the greater Montréal area,” he noted. “And it’s one of the sectors that helps to build an innovative society. So it’s essential to hold on to our Québec and Montréal star players so we can continue to excel in this industry that is so strategic for the economic development of Québec.”
At the closing of the transaction, Louis Pratt, President and CEO of OSI, remarked that, “In particular, this change of control will allow OSI Consultant Group to significantly enhance our positioning and ability to play an active role in the Québec IT market. OSI Consultant Group will also continue to invest in developing application solutions to become a leader in the field.”
About OSI Consultant Group
Founded in 1991, OSI Consultant Group ranks among Québec’s five largest providers of information technology consulting and solutions. OSI Consultant Group is an IT consulting specialist for large companies and numerous public organizations in the information, management, telecommunications and new technologies industries. The company is staffed by more than 700 professionals in offices in Montréal, Québec City and Trois-Rivières.
About Capital régional et coopératif Desjardins
With over 103,000 shareholders, Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. With net assets of $1,356 million, the Company contributes to economic development by valuing and nurturing the best of Québec entrepreneurship. Directly or indirectly through partner funds, Capital régional et coopératif Desjardins supports the growth of over 330 companies, cooperatives and funds in various industries spanning all Québec regions. (www.capitalregional.com)
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees, and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
SOURCE: CAPITAL REGIONAL ET COOPERATIF DESJARDINS
For further information:
Office of the Minister for Industrial Policy
and the Banque de développement
économique du Québec
Tel.: 418 691-5650
Office of the Minister of International
Relations, La Francophonie and External
Tel.: 418 649-2319
For further information:
Media Relations Officer – Mission Économie
Ministère des Finances et de l’Économie
Tel.: 418 691-5698, ext. 4868
Tel.: 514 873-0712
Capital régional et coopératif Desjardins
Tel.: 418 835-8444 – 1 866 835-8444, ext. 3163
President and CEO
OSI Consultant Group Inc.
Tel.: 514 847-1080
Photo courtesy of Shutterstock.
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