CPDQ and Ardian Announce Closing of Acquisition of Significant Equity Interest in Alvest

Caisse de dépôt et placement du Québec (CDPQ), a leading institutional asset manager, and Ardian, an independent private investment company, have completed the acquisition of a significant stake in Alvest, the global leader in the development, production, distribution and support of airport Ground Support Equipment (GSE). Alvest's customers, including passenger airlines, cargo airlines, ground handlers and airport authorities, will benefit from this investment through Alvest's enhanced capacity to bring new and innovative solutions to the market. The investment will also contribute to Alvest’s efforts to continue building its global footprint.

As a leader within the growing and evolving GSE sector, Alvest is well positioned to lead the aviation industry’s technological and environmental shift toward reducing its emissions on the tarmac. Alvest’s Taxibot, a hybrid taxiing vehicle and the only certified green-taxiing solution in the world, is uniquely catering to the industry’s challenge to reduce CO² emissions. By taxiing aircraft without using its jet engines, Taxibot significantly reduces fuel burn and emissions of flights while lowering airliners’ dependence on fossil fuels. Alvest is also bringing a complete range of electric equipment to market, including driverless vehicles, allowing airports to go greener.

Alvest’s history has been marked by successful research and development investment, continuous market share gains within the strategic and consolidating GSE sector, and a strong long-term financial performance that have strengthened its leadership position over several decades. As part of this transaction, Alvest's management team and Sagard are reinvesting to continue supporting its future growth.