PE Deals

CDPQ, Fonds de solidarité FTQ invest in expansion of GRYB

GRYB announces the acquisitions of RAD Technologies, Dalkotech and Eco-trak.

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  • BMO, with the support of NBC, TD, RBC and Export Development Canada, provided a credit facility in connection with the transactions.
  • GRYB has been growing rapidly, both organically and through acquisitions, with sales climbing from $3.5 million in 2015 to over $250 million today.
  • ‘GRYB is well positioned to capitalize on the growing infrastructure needs in North America.’ Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ

Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ have announced a joint investment in GRYB to support the Victoriaville, Quebec-based manufacturer’s expansion. The investment has enabled GRYB to pursue its expansion plan and acquire Dalkotech, RAD technologies and Eco-trak. No financial terms were disclosed.

BMO, with the support of NBC, TD, RBC and Export Development Canada, provided a credit facility in connection with the transactions.

CDPQ, headquartered in Québec invests to generate sustainable returns over the long-term on behalf of Quebec public pension and insurance plans. As of December 31, 2021, CDPQ’s net assets totalled C$419.8 billion ($325 billion).

GRYB iis a complete solution manufacturer of heavy equipment attachments based in Victoriaville. It has been growing rapidly both organically and through acquisitions, with sales climbing from $3.5 million in 2015 to over $250 million today. GRYB see these acquisitions as a doorway to the OEM market as well as providing them with a high-tech product line in Eco-trak.

“GRYB has demonstrated its ability to generate growth both organically and through acquisitions, we intend to continue supporting GRYB with its expansion and diversification strategy” said Kim Thomassin, Executive Vice-President, and Head of Québec at CDPQ “GRYB is well positioned to capitalize on the growing infrastructure needs in North America.”

“Dalkotech’s acquisition by GRYB will strengthen the positions of both companies. This deal, backed by the Fonds and other financial partners, will allow GRYB to innovate and break into new markets.” said Dany Pelletier, Senior Vice-President, Private Equity and Impact Investing, at the Fonds de solidarité FTQ.

Fonds de solidarité  FTQ is the largest development capital network in Québec. As of November 30, 2021, the Fonds held $18.3 billion in net assets and more than 730,000 owner-shareholders.