Desjardins Capital has acquired a minority stake in DBM Group, a Laval, Quebec-based provider of solutions for the automotive lighting industry. No financial terms were disclosed. Desjardins’ investment will support DBM’s growth and long-term succession.
Laval, April 12, 2021 – “Bernard Caire and I decided to team up with Desjardins Capital, a partner with a long-term outlook, to continue our plan for international growth, to keep our company in Quebec and to start putting a long-term succession plan into place.”
That’s how Nesim Benrobi, CEO, DBM Group, explained the decision that he and his partner Bernard Caire, Vice-President, Sales, made to bring Desjardins Capital on board as a minority shareholder.
DBM Group has more than 325 employees operating four factories in Laval. Its two divisions produce optical solutions for the automotive industry. DBM Reflex manufactures optical molds, 62% of which are sold in Asia and Europe, and DBM Optix focuses on the mass production of plastic components, 81% of which are distributed in the US, 12% in Canada and 6% in Mexico.
“Since Bernard Caire and I acquired DBM Reflex in 2004, the company has posted annual growth of 10%,” said Benrobi. “We’re proud to say that our technology is sold in 40 countries and used in the headlights and taillights of some 60 vehicle models from GM, Ford, Honda, Jeep, Dodge, BMW, Acura, Tesla, Maserati, Mercedes, Toyota and Volkswagen. This vote of confidence by Desjardins Capital will help us bring our cutting-edge products to new markets.”
“DBM Group is a world-class company that provides optical solutions used by major North American, European and Asian automakers,” said Marie-Hélène Nolet, Chief Operating Officer of Desjardins Capital. “Nesim and Bernard have a solid business plan and both DBM and Desjardins Capital want to keep the operations of this important auto parts supplier based in Quebec.”
About DBM Group
DBM Group (DBM Reflex and DBM Optix) provides solutions for the automotive lighting industry. DBM Reflex has become a well-known player in the automotive lighting industry by supplying optical mold inserts as well as high tech molds for optical components. DBM Optix concentrates on molded optical components for the automotive industry as well as for the broader LED-lighting industry. Both companies are founded on the principles of innovation, strong know-how and a dedicated, highly skilled workforce. They make innovation and service their priorities so they can support new and existing customers with innovative products in the market.
About Desjardins Capital
Nearly 45 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.6 billion as of December 31, 2020, Desjardins Capital helps contribute to the longevity of some 550 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to maintain and create more than 80,000* jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit the Desjardins Capital website or LinkedIn page.