Fonds de solidarité FTQ, Capital régional et coopératif Desjardins and Fondaction CSN have joined forces to acquire ATIS Group, a manufacturer of doors and windows based in Longueuil, Québec. No financial terms were released. The deal was done in partnership with company management, including Robert Doyon, who will stay on as president and CEO. Atis, which was formerly backed by U.S. private equity firm Cyprium Partners, said the new partnership will support its recently launched five-year strategic growth plan. Founded in 2004 with the acquisition of Laflamme Doors and Windows and Solarcan Doors and Windows, Atis reports having $200 million in revenue.
A Group of Québec Investors Buys Back ATIS Group
LONGUEUIL, QC, Feb. 26, 2015 /CNW Telbec/ – At a press conference held today at the headquarters of ATIS Group, the company’s management, together with representatives of the Fonds de solidarité FTQ, Capital régional et coopératif Desjardins (CRCD) and Fondaction CSN announced that they have acquired the Québec door and window manufacturer. ATIS Group was founded in 2004 with the acquisition of Laflamme Doors and Windows and Solarcan Doors and Windows.
Robert Doyon will remain an ATIS shareholder and stay on as the company’s president and CEO. The management team will also continue on, and some of its members will remain minority shareholders.
ATIS Group is one of Canada’s largest manufacturers of doors and windows, with 9 manufacturing facilities, 19 stores, 1,400 employees, including 900 in Québec, and some $200 million in revenues. The group manufactures, distributes and sells a complete range of energy-efficient doors, windows and products for the residential and commercial construction and renovation markets through its affiliates Altek, ATIS Portes et Fenêtres, Allsco, Extrusion SP, Laflamme, Phoenix Glass and Vinylbilt Windows & Doors.
“ATIS is a perfect example of a thriving Québec manufacturer. That’s why the Fonds de solidarité FTQ approached the company several months ago and jumped at the opportunity to get it back into Québec hands. Given the calibre of the financial partners involved in this deal and the company’s management team, we’re confident ATIS will continue to prosper,” said Normand Chouinard, Executive Vice-President, Investments, at the Fonds de solidarité FTQ.
For Marie-Claude Boisvert, Chief Operating Officer of Desjardins Business Capital régional et coopératif, this new partnership perfectly reflects the organization’s mission: “We make our resources and expertise available to bold entrepreneurs who are committed to the future of their companies, here in Québec. Our priority is to further the growth of successful firms because that’s how strong economies are built. Our partnership with ATIS Group and its management team is a prime example of this philosophy.”
“ATIS Group is a solid local company that provides jobs in several Québec regions and whose reach extends beyond our borders. It stands out not only for its innovation but for its approach to sustainable development, as exemplified by its energy-efficient products. For Fondaction CSN, these qualities make ATIS a leader in more ways than one,” said in turn Geneviève Bouthillier, Assistant Head of Investments at Fondaction CSN.
“This deal couldn’t come at a better time for ATIS. Our recently launched five-year strategic growth plan is moving ahead full steam, with three acquisitions in the last six months. Our new investors know the manufacturing industry very well and their expertise will allow us to optimize our growth. There are some excellent opportunities out there that we will now be able to seize thanks to them,” said ATIS President and CEO Robert Doyon.
“After a very successful 10-year partnership with U.S. investment firm Cyprium Partners, it’s time to write the next chapter in our company’s history. We are therefore greatly looking forward to the arrival of our new investors,” concluded Mr. Doyon.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
About Capital régional et coopératif Desjardins
With some 96,000 shareholders and $1,502 million in net assets, Capital régional et coopératif Desjardins (CRCD) is a public company managed by Desjardins Business Capital régional et coopératif. CRCD 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 380 businesses, cooperatives and funds in various industries spanning all Québec regions, helping to create and retain 62,000 jobs. (www.capitalregional.com)
About Fondaction CSN
Fondaction CSN invests in Québec SMEs in order to help maintain and create jobs in Québec, within a context of sustainable development. It manages $1.2 billion in assets from retirement savings collected from more than 126,000 shareholders. Through its investments or commitments, either directly or by way of partner or specialized funds, Fondaction supports the development of more than 850 enterprises, many of which represent different components of the social economy. www.fondaction.com
SOURCE Fonds de solidarité FTQ
For further information: For media representatives only: Sophie Marquis, Vice-President, Human Ressources and Communications, Groupe ATIS, Phone: 450 928-0101, ext. 231, Mobile : 514 755-1361, Email : email@example.com; Patrick McQuilken, Senior Advisor, Media Relations and Communication, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile: 514 703-5587, Email: firstname.lastname@example.org; Richard Lacasse, Capital régional et coopératif Desjardins, Phone: 418 835-8444 or 1 866 835-8444, ext. 3163, Email: email@example.com; Suzanne La Ferrière, Communications, Fondaction CSN, Phone: 514 525-7041, Mobile: 514 704-2944, Email: firstname.lastname@example.org
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