Stageline Group receives $4 million of financing from the Caisse de dépôt et placement du Québec
Stageline Group and the Caisse de dépôt et placement du Québec announced today that the Caisse had provided the Québec firm with $4 million for expansion of its operations on the U.S. and international markets. This amount, provided by the Caisse’s Private Equity group, will give Stageline Group a financial framework that will enable it to increase its geographic coverage, deploy its rental fleet in the U.S. market and develop its international sales operations. Stageline specializes in the design, manufacture, rental and sale of hydraulically operated mobile stages.
“In recent years we have invested substantial amounts to ensure our expansion, and the recent tightening of credit conditions has placed additional pressure on our liquidity requirements. We’re very pleased that the Caisse has decided to assist us despite the economic conditions,” stated Lise Morissat, President and Chief Operating Officer of Stageline Group.
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“Their innovative financial solution will enable us to continue to grow by expanding our operations on the U.S. and foreign markets, in line with the strategy we adopted several years ago,” added Yvan Miron, Chairman and Chief Executive Officer of Stageline Group and Founding President of Stageline, its design and manufacturing unit.
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The Québec company’s stages are used for more than 10,000 events each year in about 30 countries. Stageline Group recently inaugurated a new facility in L’Assomption in the Lanaudière region to increase its production capacity. In 2008, the company moved into this new “green factory,” a LEED-compliant industrial building ranked second in Canada and first in Québec for its energy performance. Since its first mobile stage prototype was launched in 1987, the company has expanded its product range with a sustained research and development effort.
“A leader in its field, Stageline Group has a solid business plan and strong growth potential,” stated Normand Provost, the Caisse’s Executive Vice-President, Private Equity. “We at the Caisse are pleased to support the expansion of a company that has been active in product design and enhancement for 20 years. The company also recently developed an innovative product for the mobile marketing niche.”
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In a context in which credit is less accessible, the Caisse continues to sustain local companies with financing solutions whose objectives include facilitating their growth and market development.
About Stageline Group
Stageline Group is the world’s leading designer and manufacturer of hydraulic covered mobile stages. The firm also builds hydraulically operated mobile structures for mobile marketing and promotional activities. Its subsidiary MSR Mobile Stage Rentals offers tour logistics and stage-rental services across North America. MSR Mobile Stage Rentals, the largest company of its kind, consists of a network of rental centres located in many large North American cities that together offer a fleet of more than 80 units. Stageline Group employs more than 150 people at its two L’Assomption facilities and leverages a steady pool of subcontractors in Canada and the United States. For more information: www.stageline.com www.mobilestagerental.com.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. It held $120.1 billion of net assets as at December 31, 2008. The Caisse is world-class fund manager that invests in the main financial markets as well as in private equity and real estate. The Caisse is one of the largest investors in Québec, with direct and indirect investments in almost 500 companies and more than 600 buildings in the province. For more information: cdpq.com.
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For more information
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Jean-Marc SimardSimard Hamel CommunicationsStageline Group514 287-9811, poste 11, 514 248-5385 (cellulaire)