Fonds de solidarité FTQ and Fondaction have together invested $13.5 million in JLD-Laguë Group, a Laval, Québec-based John Deere dealer specializing in agricultural equipment.
Fonds de solidarité FTQ invested $10 million, while Fondaction invested $3.5 million.
The proceeds were used by the company to acquire Québec City-based Transdiff and Centre de Transmission JDH, which sell, service and repair Peterbilt trucks.
JLD-Laguë, which operates in Québec and Eastern Ontario, said the acquisition will add to its capabilities in diesel mechanics, original-equipment-manufacturing sales and aftermarket support.
Fonds de solidarité FTQ and Fondaction Invest $13.5 Million to Support the Growth of JLD-Laguë
The Laval company recently acquired TransDiff and Centre de transmission JDH in Québec City
LAVAL, QC, June 11, 2019 /CNW Telbec/ – The Fonds de solidarité FTQ and Fondaction have invested $10 million and $3.5 million respectively to support the growth of Laval-based JLD-Laguë. These investments made it possible for the company to acquire TransDiff and Centre de transmission JDH in Québec City.
Founded in 1951 and specializing in agricultural equipment, JLD-Laguë is one of the largest John Deere dealers in Canada with 16 branches in Québec and Eastern Ontario. The newly acquired companies will enable the group to diversify its activities by adding the sale, servicing and repair of Peterbilt trucks. Following this acquisition, the company has over 600 employees between the two divisions.
“These investments by the Fonds de solidarité FTQ and Fondaction, combined with the acquisition of TransDiff and Centre de transmission JDH, will allow our company to continue to develop on a solid foundation,” said Terry Enepekides, President of JLD-Laguë. “We are therefore very well placed to strengthen our presence in the market and meet our customers’ needs by offering unbeatable expertise in diesel mechanics and after-sales support.”
“A strategic acquisition, whether in Québec or elsewhere, is often an ideal way for Québec companies to grow and consolidate their position in the market. The acquisition of TransDiff and Centre de transmission JDH by JLD-Laguë is an excellent example of this. This investment is perfectly in line with the Fonds de solidarité FTQ’s desire to support the growth of Québec businesses through acquisitions,” said Patrice Jolivet, Vice-President, Investments, Agri-Food and Health, Fonds de solidarité FTQ.
“The motorized agriculture and transportation equipment industry is necessary for the development of our regions. Being able to support, together with our partners, the growth and integrated offer of a dynamic player like JLD-Laguë definitely has a positive impact on this industry,” said Geneviève Bouthillier, Assistant Director of Investment at Fondaction.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $14.8 billion in net assets as at November 30, 2018, the Fonds has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers.
Fondaction manages more than $2 billion in assets from the retirement savings of its nearly 160,000 shareholders. Fondaction supports the development of nearly 1,200 SMEs, including social economy enterprises. Fondaction helps maintain and create jobs, reduce inequalities and fight against climate change. Between 2015 and 2018, Fondaction reduced the carbon footprint of its equity investments by 51%.
For further information: for media representatives only: Robert Loignon, Director, Marketing and Communications, JLD-Laguë, Telephone: 514 373-4899, ext. 39970, Mobile: 514 213-7666, Email: email@example.com; Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Mobile: 514 703-5587, Email: firstname.lastname@example.org; Julien Lampron, Public Affairs Director, Office: 514 525-7639, Mobile 514 386-6049, Julien.Lampron@fondaction.com