Caisse de dépôt et placement du Québec has invested $50 million in Pomerleau Inc, a Saint-Georges, Québec-based construction company specializing mainly in the building, infrastructure, civil engineering and renewable energy sectors. The deal, which gives the Caisse a minority interest, will support the company’s strategic growth plan in the coming years. It will also allow Pomerleau to innovate and leverage new technologies that draw on building information modelling, virtual reality, robotics and artificial intelligence. Founded in 1966 and led by President and CEO Pierre Pomerleau, the company has more than 150 work sites across Canada.
La Caisse backs Pomerleau’s strategic growth plan by becoming a shareholder
MONTRÉAL, June 21, 2018 /CNW Telbec/ – La Caisse de dépôt et placement du Québec is becoming a minority shareholder in Pomerleau with an investment of $50 million that will allow the company to execute its strategic growth plan over the coming years.
Pomerleau has nine offices across Canada, and this funding from la Caisse will help it execute its expansion strategy, which targets new growth opportunities. It will also allow Pomerleau to innovate, continue to be equipped with better tools and take advantage of new technologies that draw on Building Information Modeling (BIM), virtual reality, robotics and artificial intelligence.
“We are delighted to have la Caisse as a shareholder. This marks an important step in deploying our strategic plan,” stated Pierre Pomerleau, President and CEO of Pomerleau. “In addition to helping us stay at the forefront, la Caisse’s involvement will allow us to target new growth opportunities to enhance our position among the leaders in the Canadian construction industry, from coast to coast.”
“The participation taken by la Caisse is aligned with our strategy of supporting the expansion of Quebec companies into new markets,” stated Christian Dubé, Executive Vice-President, Québec at la Caisse. “In addition to supporting the company’s efforts in innovation, Pomerleau will benefit from our expertise in strategic growth as it embarks on this expansion.”
Pomerleau is one of Canada’s leading construction companies and a pioneer in sustainable buildings. It specializes mainly in the building, infrastructure, civil engineering and renewable energy sectors. Founded more than 50 years ago, the company employs up to 4,000 people at its 9 regional offices and more than 150 worksites across the country. Pomerleau projects revenues of $2.1 billion in 2018 and holds a current backlog in excess of $3.5 billion. The company is also a leader in virtual design and construction. Pomerleau owns Beaubois, a company specializing in millwork and architectural woodwork, and co-owns Borea Construction, the leader in the Canadian wind farm industry. For more details about Pomerleau, visit www.pomerleau.ca.
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 December 31, 2017, it held $298.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
For further information: CAROLYNE VAN DER MEER, POMERLEAU, Director of Communications, +1 514 789 2728, [email protected]; JEAN-BENOÎT HOUDE, CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC, Senior Advisor, Media and Public Relations, +1 514 847-5493, [email protected]