La Caisse and BMO Capital Partners invest $20 million in Québec-based Nautilus Plus

La Caisse de dépôt et placement du Québec and BMO Capital Partners today announced a major investment in Corporation de développement Nautilus Plus inc. (Nautilus Plus), which owns the largest corporate network of fitness centres in Québec.

The investment, made equally by la Caisse and BMO Capital Partners, will enable them to acquire a block of shares of the company and Nautilus Plus to continue expanding its network.

“This financing enables us to support a well-established Québec company that has become a leader in its industry,” stated Normand Provost, Executive Vice-President, Private Equity, of la Caisse de dépôt et placement du Québec. “With its expansion of recent years, Nautilus Plus has increased its market share and offers our depositors attractive long-term returns.” Once again, la Caisse is partnering with Novacap, an important private equity player that is very involved with Québec companies.

“BMO Bank of Montreal is very proud to partner with Novacap and la Caisse to support Nautilus Plus, a dominant player in Québec’s fitness centre sector,” said Richard Côté, Vice-President, Corporate Finance Division, Québec. “We believe the financial products and solutions offered to Nautilus Plus with this financing will help it pursue and even go beyond its long-term growth plan.”

“Nautilus Plus is developing and implementing an expansion plan. In such a context, this investment is vital,” stated Domenic Mancini, Chairman of Nautilus Plus and General Partner of Novacap Industries. “Novacap, BMO and la Caisse have been working together for more than 30 years and are the ideal partners for companies with strong potential. Like us, BMO Capital Partners and la Caisse assist Québec companies with their long-term expansion plans,” stated Jacques Foisy, President of Novacap Industries, which has been a Nautilus Plus partner since 2008.

Nautilus Plus President and Chief Executive Officer Richard Blais said he was complimented by his prestigious new partners’ interest and confidence in the company and enthusiastic about pursuing its growth with their support. 

Nautilus Plus, founded 35 years ago, has 67,000 members and employs more than 1,200 people, including 500 personal trainers and nutritionists. The company is a standout in its it sector with its high-quality fitness and nutrition services. It operates a network of 39 fitness centres mainly in the Montréal and Québec City areas as well as in the Outaouais region.

ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

La Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at June 30, 2013, it held $185.9 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests in major financial markets, private equity, infrastructure and real estate globally. For more information: www.cdpq.com.

ABOUT BMO CAPITAL PARTNERS 

BMO Capital Partners is a leading provider of junior capital, including subordinated debt and equity capital to mid-market companies across Canada. With $400 million in committed capital and offices across Canada, BMO Capital Partners invests up to $20 million in companies. The proceeds are typically used for acquisitions, buyouts, capital expenditures/expansions, restructurings and working capital for growth. Since its inception in 1996, BMO Capital Partners has closed more than 195 transactions. BMO Capital Partners is a member of BMO Financial Group™, one of the largest financial services providers in North America. www.bmo.com

ABOUT NOVACAP

With $790 million in assets under management, Novacap is one of Canada’s leading private equity firms. Since 1981, its distinct partnership strategy based on operational expertise has helped many companies accelerate growth and maximize value. Novacap is one of North America’s top private equity firms. For more information, visit www.novacap.ca.