Canadian pension fund Caisse de depot et Placement du Quebec (CDPQ) and private equity fund Ardian entered into exclusive talks to acquire a significant stake in airport ground support firm Alvest, the companies said on Wednesday.
Canada’s second-biggest public pension fund and the French private equity investor are set to acquire the stake from French Sagard Private Equity Partners. The terms of the deal were not disclosed.
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.