Thetford Mines, Québec-based Fournier Industries Inc has been acquired by Capital régional et coopératif Desjardins, a fund managed by Canadian private equity firm Desjardins Capital de risque, in partnership with members of the company’s management team. The control-stake deal allows the company to consolidate its position across Québec, and focus on growth, optimization of services and the development of new products and markets. Founded in 1960, Fournier Industries specializes in the design, manufacture and installation of industrial equipment.
Capital régional et coopératif Desjardins acquires Fournier Industries Inc., in partnership with members of the company’s management team – 250 jobs secured in Thetford Mines and Trois-Rivières
MONTREAL, Oct. 11, 2013 /CNW Telbec/ – Capital régional et coopératif Desjardins (CRCD) (capitalregional.com) today announced the acquisition of Fournier Industries Inc. in partnership with members of the company’s management team. The deal allows the company to keep its headquarters in Thetford Mines and maintain business operations there and at its Trois-Rivières facilities, thus securing the jobs of more than 250 skilled employees. Founded in 1960 by Renaud Fournier, the company specializes in the design, manufacture and installation of industrial equipment.
Fournier Industries President and CEO, Harold Roy, and the company’s management team look forward to the arrival of the new institutional partner, Capital régional et coopératif Desjardins. According to them, the partnership enables the company to consolidate its position across Quebec and focus on growth, optimization of services and the development of new products and markets. “Our products and expertise already enjoy an enviable reputation in many sectors: mining, hydroelectric, wastewater treatment and aluminum foundries, to name a few. With the resources of our new shareholder, we have greater leeway to accelerate growth and break into international markets.”
Chief operating officer of Desjardins Business Capital régional et coopératif, Marie-Claude Boisvert highlights the original owner’s excellent transition plan. “Mr. Fournier is a consummate businessman who has planned his succession with skill and discipline. By laying the groundwork over the past ten years, he has built a solid bridge for his managers who are now prepared to lead the company to new horizons. He is a model entrepreneur, the kind with whom we want to build partnerships.”
Backing a SME to keep business and jobs in Quebec
Mr. Fournier, founder and former CEO of his namesake company, is pleased with this development since foreign companies had been eyeing Fournier Industries in recent years. “We’ve spoken with foreign buyers on several occasions, but it has always been a priority of mine to keep jobs in Thetford Mines and Trois-Rivières. However, that kind of guarantee from foreign buyers is hard to come by. Having Capital régional et coopératif Desjardins come in as a majority shareholder not only ensures the company stays in Quebec, it gives the management team a powerful ally for business growth.”
About Fournier Industries Inc.
Incorporated in 1960, Thetford Mines-based Fournier Industries Inc. specializes in the design, manufacture, repair, reconditioning, and installation of a wide variety of mechanical products and equipment for mining, hydroelectricity, aluminum smelters and foundries, grain elevators, pulp and paper, and sludge dewatering. Fournier Industries Inc. and its subsidiaries employ some 250 people at its facilities in Thetford Mines and Trois-Rivières (www.fournierindustries.com).
About Capital régional et coopératif Desjardins
With over 104,000 shareholders and $1,473 million in net assets, Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. The Company contributes to Québec economic development through several levers developed with its manager, with CRCD as the driving force. These levers form CRCD’s entrepreneurial ecosystem designed to value and nurture the best of Québec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 390 companies, cooperatives and funds in various industries spanning all Québec regions. (capitalregional.com)
SOURCE Capital régional et coopératif Desjardins
For further information:
(for journalists only):
Capital régional et coopératif Desjardins
418-835-8444 or 1-866-835-8444, ext. 3163
Harold Roy, President & CEO
Fournier Industries Inc.
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