Fonds de solidarité FTQ backs Phoenix’s acquisition of BBH

Fonds régionaux de solidarité FTQ Montréal, an affiliate of Fonds de solidarité FTQ, has invested C$4.3 million in BBH Group, a Montreal-based provider of industrial and retail safety workwear.

Fonds régionaux de solidarité FTQ Montréal, an affiliate of Fonds de solidarité FTQ, has invested C$4.3 million in BBH Group, a Montreal-based provider of industrial and retail safety workwear. The investment supports Phoenix Partners’ acquisition of BBH, announced earlier this month.

PRESS RELEASE

MONTRÉAL, Oct. 26, 2020 /CNW Telbec/ – The Fonds régionaux de solidarité FTQ Montréal (FRS) is pleased to announce a $4.3 million co-investment with Claude Lampron and Phoenix Partners, which is acquiring Groupe BBH Inc. a leading provider of industrial and retail safety workwear. Mr Lampron, Groupe BBH’s current owner, will remain a shareholder and the president of the company.

The timing of this acquisition coincides with the announcement of several construction projects designed to revive the economy. These projects will have a positive impact on industrial and personal protective equipment suppliers. The investments by the Fonds régionaux de solidarité FTQ Montréal and Phoenix Partners will allow Groupe BBH to consolidate its leadership position in an industry that is poised to grow strongly in the months and years ahead.

A booming Montréal company
Established in 2007 following the merger of Barry & Boulerice and LNS Horizon, Groupe BBH designs and distributes personal protective products such as work and sports gloves, security equipment, industrial cords and high-visibility workwear.

Headquartered in Montréal, the company is enjoying solid growth in Canada, the U.S. and abroad.

Groupe BBH has a portfolio of renowned brands including Horizon, Barry & Boulerice, H-Series, Worktuff, Terra, Dickies, Holmes Workwear, Karbon, Gardena and Roots, all known for their exceptional quality and performance in both the industrial and retail industries.

A timely transaction
“We’re extremely grateful to the Fonds régionaux de solidarité FTQ Montréal for their commitment and confidence in us. With their support and expertise, we’ll be able to diversify our markets and speed up the growth of Groupe BBH, a proud Québec company. We will also be able to ensure the future of this company founded by Claude Lampron who, by joining our team, will bring his unparalleled experience in personal protective equipment to the table,” said David Le Houx, Managing Partner at Phoenix Partners.

“Our mission is to support booming SMEs like Groupe BBH so they can grow and innovate while at the same time preserving and creating lasting quality jobs in the Montréal region. We’re therefore very proud to once again partner with Phoenix Partners, a private equity firm known for its keen business sense, sound governance and entrepreneurial spirit,” said Peter Rayes, Regional Vice-President, Fonds régionaux de solidarité FTQ for the Montréal region.

Business solutions that make a difference
Across its 16 offices, the Fonds régionaux de solidarité FTQ offer small and mid-sized enterprises customized loan and equity solutions. Each product is developed based on the company’s characteristics and the region’s economic reality. Requiring no corporate or personal guarantee, FRS loans do not entail any legal or management fees and are intended to complement the financing offered by traditional financial institutions.

About the Fonds régionaux de solidarité FTQ
The Fonds régionaux de solidarité FTQ have been participating in the economic development of Québec’s regions for over 24 years. Created in 1996, the Fonds régionaux have invested just over $1 billion dollars in 1,400 companies, helping to create, maintain or protect close to 52,000 jobs.

About Phoenix Partners
Established in 2012, Phoenix Partners is a private equity group focused on acquiring controlling interests in traditional businesses in the lower to mid markets. Relying on an experienced dedicated team with more than 45 years’ experience in the acquisition and management of private and public businesses, financing and financial markets, Phoenix Partners works to enable its partner companies to grow and reach new heights.